Japan's Panasonic says plans to sell stake in autos business to Apollo Global funds

Panasonic Holdings

17/11/2023 05:31

TOKYO, Nov 17 (Reuters) - Japan's Panasonic Holdings
 6752.T  said on Friday it planned  to sell a stake in its
automotive systems business to funds managed by Apollo Global
Management, and had signed a memorandum of understanding with an
Apollo affiliate.
    Shares of Panasonic rose on the news, gaining 6.5% in Tokyo
trade at 0523 GMT. Panasonic also said it could potentially list
the business in the future.


 (Reporting by Daniel Leussink; Editing by David Dolan)
 ((daniel.leussink@thomsonreuters.com; Twitter:
@danielleussink;))