Panasonic sells its automobile unit for $2 billion

Panasonic Holdings announced the sale of its entire stake in Panasonic Automotive Systems to funds managed by the American private equity firm Apollo Global Management for a value of $2 billion.

According to Reuters, the deal includes Panasonic not completely severing its ties with its automotive business. The Japanese electronics giant will acquire a 20% stake in Star Japan Holdings, the entity that is set to become the new parent company of Automotive. This strategic move ensures the continuation of Panasonic Automotive Systems’ relationship with the Panasonic Group.

Blue Yonder, a subsidiary of Panasonic, is set to expand its capabilities in the field of digital supply chain. Blue Yonder has entered into an agreement to purchase One Network Enterprises, a digital supply chain network provider in the United States, for $839 million. The acquisition is scheduled to be completed during the third quarter of 2024.

Panasonic’s automotive systems unit was previously mentioned as a candidate for a potential public listing, suggesting the company is considering different strategic options for the business.