EQT Sells Pioneer for $1.1 Billion in Second Japan Exit in 2025

EQT AB agreed to sell Pioneer Corp. for $1.1 billion, marking the biggest exit in Japan for the Swedish buyout firm that sees Japan as a key pillar of its dealmaking strategy in the region.

Two of EQT’s funds agreed to sell the Japanese automotive electronics manufacturer to CarUX, a subsidiary of Taiwan-listed Innolux Corp., according to a statement Thursday. The transaction is subject to customary conditions and approvals and is expected to be completed in the fourth quarter.

The deal will return three times its invested capital, a person with knowledge of the matter said. EQT declined to comment ...