JBL maker Harman to sell stake in India unit

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.

- Sneha Shah

MUMBAI:

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.