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Panasonic is planning to take 100 percent ownership of its subsidiaries Sanyo Electric and Panasonic Electric Works in a move costing up to $9.4 billion to strengthen green businesses such as electric cars and solar panels.
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Panasonic to buy out Sanyo, Panasonic Electric
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Panasonic, Japan's biggest home appliance maker, returned to profit in its latest quarter and raised full year forecasts amid stronger sales of products from air conditioners to flat-panel TVs.
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Japan's Panasonic Corp (6752.T) plans to buy out subsidiaries Sanyo Electric (6764.T) and Panasonic Electric Works (6991.T) for up to 818.4 billion yen ($9.4 billion) to strengthen its push into greener businesses.
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Panasonic, Japan's biggest home appliance maker, returned to profit in its latest quarter and raised full year forecasts amid stronger sales of products from air conditioners to flat-panel TVs.
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Panasonic Corp., the world’s largest maker of rechargeable batteries, offered to buy out Sanyo Electric Co. and Panasonic Electric Works Co. for 818.4 billion yen ($9.4 billion) to help expand its renewable energy business.
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Panasonic Corp. , the world’s largest maker of rechargeable batteries, offered to buy out Sanyo Electric Co. and Panasonic Electric Works Co. for 818.4 billion yen ($9.4 billion) to expand its renewable energy businesses.
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Panasonic Corp., the world’s largest maker of rechargeable batteries, will offer to buy full control of Sanyo Electric Co. and Panasonic Electric Works Co., three people familiar with the matter said. Panasonic may sell $5.7 billion of new shares to finance the acquisitions, Reuters said.
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Japan's Panasonic Corp (6752.T) plans to buy the shares it does not own in Sanyo Electric and another unit, four sources said, in a deal that could top $10 billion and strengthen its push into greener businesses.
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UPDATE 5-Panasonic to buy out Sanyo, other unit -sources