Panasonic to Buy 50.2% Stake in Sanyo Dec 10, 2009

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Panasonic Corp. will take majority control of Sanyo Electric Co. in a US$4.6 billion deal, said an AP report.

Panasonic said it will buy 50.2% of Sanyo for 403.78 billion yen (approx. US$4.6 billion), the report said.

Panasonic is expected to retain the Sanyo brand and keep its shares listed on the Tokyo Stock Exchange. The deal will be settled Dec. 16, the report said.
(AP)

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