Panasonic to Sell Entire Stake in Automotive Business for $2.06 Billion, Acquires 20% Stake in Star Japan Holdings

Panasonic Holdings, the Japanese electronics giant, has announced 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 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 this transaction, Panasonic will also acquire a 20% stake in Star Japan Holdings, which will become the new parent company of PAS. This move will ensure that the automotive business maintains its strategic relationship with the Panasonic Group and paves the way for potential future listings, as noted by Panasonic.

In addition to this announcement, Panasonic also revealed 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 are part of an effort by Panasonic to reshape its portfolio and strengthen its presence in the automotive and digital supply chain sectors. The company continues to seek opportunities for growth and expansion in key markets globally, as it looks to maintain its position as a leader in these industries.