© Reuters. A man is seen next to Panasonic Corp's logo at Panasonic Center in Tokyo, Japan, February 2, 2017. REUTERS/Kim Kyung-Hoon/ File Photo) 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 , 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. digital supply chain network supplier One Network Enterprises for $839 million, expecting the deal to be completed in the July-September quarter of 2024.
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