All major holders agree to sell their shares to Panasonic

Green light for Sanyo buyout

After rejecting an initial offer, Goldman Sachs, the majority shareholder in Sanyo has agreed to a second offer from Panasonic.

According to the Japanese newspaper Nikkei, Panasonic will buy the shares for 131 Yen or $1.49 each for an estimated total of more than 560 billion Yen. The deal is anticipated to go through in February.

Goldman Sachs, Daiwa Securities SMBC Co. and Sumitomo Mitsui Banking Corporation currently hold a combined stake of 70 per cent in Sanyo.

Source: AFP

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