JBL maker Harman to sell stake in India unit
Mumbai, May 12 -- Harman US, the maker of JBL, Harman Kardon and Infinity audio products, is in talks to sell a controlling stake in its Indian unit, three people aware of the matter said.
The US company has approached global private equity and buyout firms to sell its shares in a deal valuing the Indian unit at $500-600 million, the people said.
Harman US, a subsidiary of South Korea's Samsung, has picked Deutsche Bank to help with the process, one of the three people said on the condition of anonymity.
"There is a global restructuring the group is looking to set into motion. Selling the India business is part of it," the person said.
Harman US is a Connecticut-based manufacturer of audio systems, automotive infotainment systems, lifestyle...
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