AGL 38.51 Increased By ▲ 0.94 (2.5%)
AIRLINK 129.25 Decreased By ▼ -3.25 (-2.45%)
BOP 5.63 Decreased By ▼ -0.01 (-0.18%)
CNERGY 3.83 Increased By ▲ 0.06 (1.59%)
DCL 8.70 Decreased By ▼ -0.17 (-1.92%)
DFML 41.95 Increased By ▲ 0.95 (2.32%)
DGKC 88.50 Decreased By ▼ -1.66 (-1.84%)
FCCL 34.89 Decreased By ▼ -0.19 (-0.54%)
FFBL 66.79 Increased By ▲ 0.29 (0.44%)
FFL 10.52 Increased By ▲ 0.37 (3.65%)
HUBC 108.60 Increased By ▲ 2.20 (2.07%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.77 Decreased By ▼ -0.09 (-1.85%)
KOSM 6.98 Increased By ▲ 0.13 (1.9%)
MLCF 41.72 Decreased By ▼ -0.08 (-0.19%)
NBP 59.65 Increased By ▲ 1.07 (1.83%)
OGDC 183.65 Increased By ▲ 2.40 (1.32%)
PAEL 26.12 Increased By ▲ 0.42 (1.63%)
PIBTL 5.95 Increased By ▲ 0.12 (2.06%)
PPL 147.75 Decreased By ▼ -0.65 (-0.44%)
PRL 23.57 Increased By ▲ 0.35 (1.51%)
PTC 16.56 Increased By ▲ 1.32 (8.66%)
SEARL 68.29 Decreased By ▼ -0.50 (-0.73%)
TELE 7.17 Decreased By ▼ -0.07 (-0.97%)
TOMCL 35.80 Decreased By ▼ -0.20 (-0.56%)
TPLP 7.74 Increased By ▲ 0.34 (4.59%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.41 Decreased By ▼ -0.44 (-0.87%)
UNITY 26.75 Increased By ▲ 0.35 (1.33%)
WTL 1.22 Increased By ▲ 0.01 (0.83%)
BR100 9,809 Increased By 41.1 (0.42%)
BR30 29,711 Increased By 311.1 (1.06%)
KSE100 92,381 Increased By 443.3 (0.48%)
KSE30 28,851 Increased By 107.7 (0.37%)

TOKYO: Japan’s Panasonic Holdings said on Friday it will sell its entire stake in Panasonic Automotive Systems (PAS) to funds managed by US private equity firm Apollo Global Management.

The transaction has a total enterprise value of 311 billion yen ($2.06 billion), 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.

Panasonic says Oklahoma no longer candidate for new battery plant

The automotive business will maintain its strategic relationship with Panasonic Group, Apollo said in its statement. Panasonic has previously said the business could potentially be listed in the future.

Separately, Panasonic said its unit Blue Yonder would acquire US digital supply chain network supplier One Network Enterprises for $839 million, expecting the deal to be completed in the July-September quarter of 2024.

Comments

Comments are closed.