July 28, 2009

As part of its push to bolster its green energy business, Panasonic plans to spend at least $8.4 billion to buy out the remaining shares of majority-owned subsidiaries Sanyo Electric and Panasonic Electric Works, people familiar with the matter said.

By converting Sanyo and Panasonic Electric Works into wholly owned units, Panasonic aims to speed up decision-making and reduce overlap as it looks to shift the company's focus from its traditional home electronics market— which is facing increasing competition and shrinking margins—to the fast-growing and lucrative renewable energy and energy conservation business.

http://online.wsj.com/article/SB10001424052748703940904575395871808074534.html?mod=djemalertDEALS

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