On Friday, Japan’s Panasonic Holdings announced that it will be selling its entire stake in Panasonic Automotive Systems (PAS) to funds managed by U.S. private equity firm Apollo Global Management. The deal has a total enterprise value of 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, the entity that will own the new parent company of PAS. This move will ensure that the automotive business maintains its strategic relationship with the Panasonic Group, as noted in Apollo’s statement. There are also plans for potentially listing the business in the future, according to Panasonic.
In addition to these moves, Panasonic 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 demonstrate Panasonic’s commitment to reshaping its portfolio and strengthening its presence in key sectors such as automotive and digital supply chain. The company continues to seek opportunities for growth and expansion globally, with a focus on expanding its market share and driving innovation in these areas.