(Bloomberg) -- Panasonic Holdings Corp. agreed to sell part of its automotive systems unit, working with an affiliate of Apollo Global Management Inc. and potentially seek a public listing of the business.Most Read from BloombergAston Martin Owner Lawrence Stroll Sells F1 Team Stake at £1 Billion ValuationBacklash Spreads Over Musk’s Endorsement of Antisemitic PostHamas Mastermind Who Tricked Israel Is Top Target in Gaza TunnelsApple Plans to Make It Easier to Text Between iPhones and AndroidsAp
Japan's Panasonic Holdings said on Friday it plans to sell a stake in its automotive systems business to funds managed by U.S. private equity firm Apollo Global Management, and has signed a memorandum of understanding with an Apollo affiliate. Shares of Panasonic surged on the news, ending 5.5% higher in Tokyo trade. "The parties will continue discussions on an exclusive basis with the intention of finalising the details of the agreement by March 31, 2024," Panasonic said in a press release.
Baron Funds, an investment management firm, released its “Baron FinTech Fund” third quarter 2023 investor letter, a copy of which can be downloaded here. During the quarter concluding on September 30, 2023, Baron FinTech Fund® (Institutional Shares) experienced a 1.30% increase, contrasting with a 6.77% loss for the FactSet Global FinTech Index (the Benchmark). Since its […]