Panasonic Holdings of Japan announced on Friday that it will sell its entire stake in Panasonic Automotive Systems (PAS) to funds managed by U.S. private equity firm Apollo Global Management. The deal is valued at 311 billion yen ($2.06 billion) and is expected to close by the end of the first quarter of 2025, according to Apollo’s statement.
As part of the transaction, Panasonic will also acquire a 20% stake in Star Japan Holdings, which will become the parent company of PAS. This move will ensure that the automotive business maintains its strategic relationship with the Panasonic Group while also providing opportunities for potential future listing, as noted by Panasonic.
In addition to this news, Panasonic also announced that its unit Blue Yonder will be acquiring U.S. digital supply chain network supplier One Network Enterprises for $839 million. The company expects this deal to be finalized in the July-September quarter of 2024.
These strategic moves by Panasonic are reshaping its portfolio to strengthen its presence in the automotive and digital supply chain sectors. The company continues to seek out growth and expansion opportunities in key markets globally, as it seeks to remain competitive and relevant in today’s rapidly changing business environment.
