KKR may exit Aricent; Clix Capital eyes stake in Catholic Syrian Bank:

Private equity giant KKR is in talks with prospective buyers to sell its California-based design and engineering company Aricent Inc. for $1.5 billion, said media reports.

According to The Economic Times, KKR has initiated talks with private equity firm Silver Lake Partners and global IT major Accenture.

An unnamed person told Mint that though KKR was engaged in talks with other private equity investors and strategic buyers, the chances are high for the global strategic investors.

The PE firm, which has a 79% stake in Aricent, had given the mandate to investment bank JP Morgan to scout for a buyer.

Aricent is a successor to Hughes Software Systems, which was founded in 1991 as a research and development subsidiary of DIRECTV-owned Hughes Networks Systems.

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KKR may exit Aricent; Clix Capital eyes stake in Catholic Syrian Bank