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Panasonic to sell entire stake in autos business to Apollo Global-managed funds

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Barley Risotto and Kimchi: A Culinary Crossroads| SaltWire #food #cookingshorts #kimchiTOKYO -Japan's Panasonic Holdings said on Friday it will sell its entire stake in Panasonic Automotive Systems to funds managed by U.S. private equity firm Apollo Global Management.

The transaction has a total enterprise value of 311 billion yen , subject to adjustments at closing, which is expected by the end of the first quarter of 2025, Apollo said in a statement.Panasonic said it will also acquire a 20% stake in Star Japan Holdings, the company which will own the new parent company of PAS. The automotive business will maintain its strategic relationship with Panasonic Group, Apollo said in its statement.Separately, Panasonic said its unit Blue Yonder would acquire U.S.

 

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