30 March 2024 – Panasonic Holdings reveals plans to divest its stake in Panasonic Automotive Systems (PAS) to funds managed by Apollo Global Management, followed by an investment in the new holding entity.
Panasonic will sell its entire stake in PAS to funds managed by Apollo Global Management in a transaction valued at 311 billion yen ($2.06 billion), with the closing expected by the end of Q1 2025.
Panasonic will acquire a 20% stake in Star Japan Holdings, the new parent company of PAS, ensuring continued strategic ties with the automotive business within the Panasonic Group. Panasonic hints at the possibility of PAS being listed in the future, showcasing strategic planning for the business’s growth and expansion.
In a separate development, Panasonic’s unit Blue Yonder announces the acquisition of U.S. digital supply chain network supplier One Network Enterprises for $839 million, with completion expected in Q3 2024.
Conclusion:
Panasonic’s strategic moves, including the sale of its autos business to Apollo Global-managed funds and the acquisition by Blue Yonder, demonstrate the company’s focus on reshaping its portfolio and strengthening its presence in key industry sectors. These developments highlight Panasonic’s strategic agility and commitment to driving growth and innovation in its business operations.