TOKYO (Reuters) -Japan’s Panasonic (OTC:) Holdings stated on Friday it can promote its total stake in Panasonic Automotive Programs (PAS) to funds managed by U.S. personal fairness agency Apollo World Administration (NYSE:), after which make an funding within the new holding entity.

The transaction has a complete enterprise worth of 311 billion yen ($2.06 billion), topic to changes at closing, which is predicted by the tip of the primary quarter of 2025, Apollo stated in an announcement.

Panasonic stated it can purchase a 20% stake in Star Japan Holdings, the corporate which is able to personal the brand new father or mother firm of PAS. The automotive enterprise will keep its strategic relationship with Panasonic Group, Apollo stated in its assertion.

Panasonic has beforehand stated the enterprise might probably be listed sooner or later.

Individually, Panasonic stated its unit Blue Yonder would purchase U.S. digital provide chain community provider One Community Enterprises for $839 million, anticipating the deal to be accomplished within the July-September quarter of 2024.

($1 = 151.3300 yen)