{"id":7511,"date":"2011-02-05T02:02:06","date_gmt":"2011-02-05T02:02:06","guid":{"rendered":""},"modified":"2011-02-05T02:02:06","modified_gmt":"2011-02-05T02:02:06","slug":"Panasonic-Deal-Shows-Beijing-s-M-A-Clout-","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=7511","title":{"rendered":"Panasonic Deal Shows Beijing’s M&A Clout"},"content":{"rendered":"

Panasonic Corp. said Tuesday it has agreed to sell a battery business to a Chinese company for about 500 million yen ($6.1 million) to comply with a Chinese antitrust ruling, highlighting Beijing’s growing influence over major global M&A deals.<\/p>\n

When the Japanese electronics giant took a majority stake in Sanyo Electric Co., a smaller Japanese electronics maker, in December 2009, it had to agree to address Chinese concerns that the combined entity would be too dominant in China’s market for nickel-hydride car batteries.<\/p>\n

A Panasonic spokesman said the regulator did not require that Panasonic sell to a Chinese company. Still, the deal structure gives the China-based battery maker that is buying the facilities a new foothold in Japan. Panasonic has already reduced its participation in a car-battery venture with Toyota Motor Corp., also to address Beijing’s concerns.<\/p>\n

SOURCE<\/a>
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