Hitachi Said to Mull $640 Million Stake Sale in Machine Firm

Japanese industrial electronics maker Hitachi Ltd. is looking to offload about 8% of Hitachi Construction Machinery Co. shares in block trades, according to people familiar with the matter.

The amount could be around ¥100 billion ($638 million) based on the market value of the machinery company, one of the people said, asking not to be identified as they were discussing sensitive information. Hitachi may announce the deal as soon as Tuesday, they said.