Electrical and Electronic Industry

Viko Electrical and Electronic End. San. Ve Tic. AS. is reportedly planning to sell itself after being approached by prospective buyers in a deal which will fetch around $ 500 million and $ 1 billion, three people familiar with the matter said.

Viko has reportedly hired Credit Suisse to help in the sale process. Viko’s owners reportedly want to exit the business because they have not been able to find a successor within the family to take it on and expect it to fetch around $ 800 million, the people said.

The potential buyers are expected to be Schneider Electric SA, Legrand, ABB Ltd., Eaton Corporation plc, Hubbell Inc.. and Kohlberg Kravis Roberts & Co. KG. (KKR), the people said. Reported that Reuters could not be reached for immediate comment Viko while Credit Suisse declined to comment.