Panasonic plans to sell Automotive Business to Apollo Global-managed funds

ATI News Team

The transaction has a total enterprise value of ¥311 billion

Japan's Panasonic Holdings said it will sell its entire stake in Panasonic Automotive Systems (PAS) to funds managed by US private equity firm Apollo Global Management, and then make an investment in the new holding entity, US News reported March 29, quoting a Reuters report.

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