Sources told Reuters that private equity company Kohlberg Kravis Roberts & Co (KKR) would be given preferential negotiating rights to buy a majority stake in the healthcare business of Panasonic Corp. A preferential right is the right given to an entity to purchase the stake owned by another when a triggering event occurs. That trigger could be the owner's decision to sell the stake. Panasonic was reported to be selling its healthcare unit for USD 1.5 billion.

Investing in the Japanese company would also be in line with KKR's strategy to increase its investments in Japan. KKR had recently closed its Asian fund with USD 6 billion in capital commitments. For a private equity company, KKR's Asia fund was the largest ever formed in the region. If the deal with Panasonic would push through, it would also be the biggest investment in a Japanese firm by KKR.

Previously, sources had also told Reuters that other bidders were interested in the unit. They were Toshiba Corp, Mitsui & Co Ltd, Development Bank of Japan and a buyout consortium led by Bain Capital.