Panasonic sold some US$1 billion (HK$7.76 billion worth of stocks in companies such as Toyota Motor as part of a plan to offload assets to bolster its finances, two sources with knowledge of the deals said.
Panasonic booked a gain of 30 billion yen (HK$2.4 billion) from the sales -- which also included stakes in Honda Motor and Nippon Steel & Sumitomo Metal -- in the year ended March 31, the Nikkei business daily reported earlier. Panasonic and other Japanese companies commonly own cross-shareholding stakes in their suppliers and customers to cement business ties.
via Business feed http://www.scmp.com/business/money/stock-talk/article/1228352/panasonic-sold-us1b-shares-sources
No comments:
Post a Comment