Hitachi starts sale of $5.6 billion chemical unit, first bids due by August 9 - sources
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TOKYO (Reuters) - Japan's Hitachi Ltd has started the formal process for the sale of its $5.6 billion (£4.5 billion) chemical unit with initial bids due in August, people familiar with the matter said, a deal that is expected to draw interest from global private-equity firms.Hitachi has asked potential bidders to submit first-round bids for Hitachi Chemical Co , four people said, declining to be identified as the information is not public. The initial round will close on Aug. 9, two of them..