Audio maker Harman to sell majority 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

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 products, and connectivity solutions. The company supplies audio products to leading automakers, which makes up its largest business. In March 2017, Samsung acquired Harman US.