Tue, Jan. 5, 7:16 AM
- Bayer AG (OTCPK:BAYRY) closes its previously announced sale of its Diabetes Care business to Panasonic Healthcare Holdings, a company backed financially by investment firm (NYSE:KKR) and the Panasonic Corporation (OTCPK:PCRFY)(OTCPK:PCRFF). The value of the deal was €1B (JPY 132B). The stand-alone organization, headquartered in Basel, Switzerland, will do business as Ascensia Diabetes Care Holdings.
- Previously: Bayer to sell diabetes unit to Panasonic Healthcare (June 10, 2015)
Dec. 21, 2015, 7:18 AM
- Ingersoll-Rand (NYSE:IR) says it will sell its remaining equity interest in Hussmann Parent as part of a transaction in which Panasonic (OTCPK:PCRFY) is acquiring 100% of Hussmann's shares.
- The company expects to receive net proceeds of approximately $400M from transaction, which is anticipated to close in the first half of 2016.
- Previously: Panasonic to take stake in Hussmann (Dec. 21 2015)
Dec. 21, 2015, 6:37 AM
- Panasonic (OTCPK:PCRFY) has agreed to buy a majority stake in Hussmann, a U.S. refrigeration systems maker, from private equity firm Clayton Dubilier & Rice.
- The deal is said to be priced at over ¥150B ($1.2B).
- After exiting unprofitable product lines in smartphones and semiconductors, Panasonic has been shifting to growth areas such as automotive and advanced technologies that earn higher profit margins.
Jun. 20, 2014, 6:57 PM
- The Nikkei reports Panasonic (PCRFY) plans to sell 60% of a 120K-sq. meter Japanese TV plant to Daiwa House Industry by next spring for ~¥10B ($97M).
- Panasonic is also thinking of selling the rest of the plant to other buyers. No TVs have been made there in 2012, but the facility is still used for maintenance work (among other things).
- The struggling electronics OEM has already been busy restructuring. It recently transferred 3 chip manufacturing plants to a 49/51 JV owned in partnership with Israel's TowerJazz (TSEM). Panasonic received 870K TowerJazz shares (current value of $8.2M) in return.
- The efforts are yielding results: Panasonic expects to end the current fiscal year (ends March '15) with no net debt for the first time in 6 years.
Dec. 4, 2013, 9:35 AM
- TowerJazz's (TSEM) CEO Russell Ellwanger said of media reports claiming the company would buy 3 chip plants from Panasonic (PCRFY) for ~$100M, "I am not confirming about Panasonic but Panasonic is a very, very good semiconductor company with good technologies."
- Ellwanger noted that TowerJazz is keen to find acquisitions that increase capacity through well-run factories, but that "Any type of acquisition we look at would be a few million dollars of cash or equity but nothing more than that."
- The remarks may simply be the drawing of a line in the sand as TowerJazz negotiates with Panasonic, which has long made its intention to divest large parts of its semi operations clear.
Oct. 29, 2013, 9:25 AM
- Advanced Semiconductor Engineering (ASX) is likely to acquire Panasonic's (PCRFY) IC packaging/testing sites overseas, DigiTimes writes citing a local report. The Nikkei reported last week that Panasonic intended to sell of chipmaking plants and halve its workforce.
- Although the report identified ASX as the most likely buyer, a different Nikkei article reported that Panasonic had been in talks with Israeli TowerJazz.
Sep. 27, 2013, 4:47 AM
- As flagged, KKR (KKR) has agreed to acquire 80% of Panasonic's (PCRFF.OB) healthcare unit in a deal that values that business at ¥165B ($1.67B). The purchase will be KKR's largest in Japan.
- Panasonic Healthcare focuses on three core businesses: In Vitro Diagnostics, Medicom (IT equipment), and Biomedical.
- Panasonic will post a ¥75B extraordinary gain from the deal. (PR)
Sep. 27, 2013, 2:42 AM
- KKR (KKR) is about to make its biggest acquisition in Japan by agreeing to acquire 80% of Panasonic's (PCRFF.OB) healthcare unit for ¥150B ($1.5B), with an announcement expected today.
- KKR received preferential negotiating rights for Panasonic Healthcare, which provides digital medical record systems and equipment that measures blood glucose, following two rounds of bidding in an auction.
Aug. 23, 2013, 7:24 AM
- KKR (KKR), Toshiba (TOSBF.PK) and a consortium that includes Bain Capital are reportedly expected to make it through to the final round in the auction for Panasonic's (PCRFY.OB) healthcare business, which could attract up to $1.5B.
- Second-round bids are due in on Monday.
- The unit's products include blood-sugar monitoring equipment, hearing aids and systems for electronic medical records.
May 24, 2013, 5:08 AMKKR (KKR) and Carlyle Group (CG) are among several investment funds that are reportedly expected to bid for shares in Panasonic's (PCRFY.OB) healthcare business, for which the Japanese conglomerate hopes to raise up to $1B. Toshiba is among the strategic investors that could make an offer. The deadline for first-round bids is Monday. | May 24, 2013, 5:08 AM
Mar. 20, 2013, 12:24 PM
Panasonic (PC +0.6%) is in talks with TSMC (TSM +0.8%) and HTC to sell its mobile phone business, Japan's Sankei Shimbun reports. TSMC seems an odd choice to buy the unit, given the world's biggest chip foundry hasn't shown any interest in being a phone manufacturer (either as an OEM or ODM). HTC is a little more plausible, but the company has its own problems to deal with. Panasonic, which last year took a $3B write-down partly tied to its phone ops, has already said it's exploring options for its TV and healthcare units.| Mar. 20, 2013, 12:24 PM
May 30, 2012, 4:17 AMSony (SNE) and Panasonic (PC) are the lead contenders to take an equity stake in Olympus (OCPNY.PK), according to the Asahi Shimbun. A decision is expected by the end of June, with the winner likely to take a 10%+ stake worth several hundred million dollars. In Tokyo: Olympus +4%, Sony -1.9%, Panasonic -2.2%. | May 30, 2012, 4:17 AM
Feb. 24, 2012, 5:13 AMPanasonic (PC) is in acquisition talks in the U.S. and Europe, says Shusaku Nagae, head of Panasonic’s Eco Solutions Co, because the company needs a different business model in the two regions. Panasonic may use the deals to speed its transition from a TV maker to a supplier of solar energy systems and power storage. | Feb. 24, 2012, 5:13 AM