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After much industry specularion, Pioneer has confirmed that it will sell its DJ equipment division to U.S. private equity firm Kohlberg Kravis Roberts.
KKG will pay 59 billion yen (approximately $551 million) for the shares in Pioneer DJ and will own 85.05% of the company, while Pioneer DJ will retain 14.95% ownership. The agreements are expected to close by March 2015, and both KKR and Pioneer will leverage their business resources for future growth and expansion of Pioneer DJ.
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