Panasonic plans to sell stake in autos business to Apollo Global funds ...Middle East

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Panasonic plans to sell stake in autos business to Apollo Global funds
A logo of Panasonic Corp is pictured at the CEATEC JAPAN 2017 (Combined Exhibition of Advanced Technologies) at the Makuhari Messe in Chiba, Japan, October 2, 2017. REUTERS/Toru Hanai/File Photo Acquire Licensing Rights TOKYO, Nov 17 (Reuters) – Japan’s Panasonic Holdings (6752.T) said on Friday it plans to sell a stake in its automotive systems business to funds managed by U.S. private equity firm Apollo Global Management, and has signed a memorandum of understanding with an Apollo affiliate. Shares of Panasonic surged on the news, gaining 5.3% in Tokyo trade as at 0550 GMT. Panasonic also said it could potentially list the business in the future. “The parties will continue disc

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