J.P. Morgan unit to buy Nissan subsidiary

Newswire

TOKYO, July 26 (Reuters) - The private equity arm of J.P. Morgan Chase & Co Inc said on Friday it had reached agreement to buy a Japanese auto parts subsidiary of Nissan Motor Co Ltd for around 10 billion yen ($86 million). Nissan, Japan's third-largest carmaker, said separately it would sell its 51 percent stake in unlisted auto parts maker Rhythm Corp as part of its new three-year business plan aimed at cutting debt to zero. J.P. Morgan Partners (JPMP), the private equity arm of ...

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