Panasonic Holdings Sells Its Stake in Panasonic Automotive Systems to Private Equity Firm, Acquires 20% Stake in Star Japan Holdings and Blue Yonder Acquires One Network Enterprises

Panasonic Holdings, a Japanese multinational conglomerate corporation, announced on Friday 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 an estimated value of 311 billion yen ($2.06 billion) and is expected to be completed by the end of the first quarter of 2025, according to Apollo’s statement.

In addition to selling its stake in PAS, Panasonic will also acquire a 20% stake in Star Japan Holdings, the entity that will own the new parent company of PAS. This move aims to maintain the strategic relationship between the automotive business and the Panasonic Group while potentially listing the business in the future, as noted by Panasonic.

Furthermore, Panasonic announced 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 by Panasonic are reshaping its portfolio to strengthen its presence in the automotive and digital supply chain sectors while seeking opportunities for growth and expansion in key markets globally.