Hitachi kicks off sale for chemical unit, first bids due by August 9 - sources

TOKYO (Reuters) - Japan's Hitachi Ltd has started the formal process for the sale of its $5.6 billion chemical unit with initial bids due on Aug. 9, people familiar with the matter said, a deal expected to draw interest from global private equity firms.Hitachi has formally asked potential bidders to submit first-round bids for Hitachi Chemical Co , four people said, declining to be identified because the information is not public. The initial round will close on Aug. 9, two of them said.Hitachi..