Sanyo To Sell Battery Plants To Fujitsu Unit For $71M

Law360, New York (October 28, 2009, 5:20 PM EDT) -- Sanyo Electric Co. Ltd. has agreed to sell parts of several of its battery-making businesses to a Fujitsu Ltd. unit for about 6.4 billion yen ($70.5 million) in order to appease antitrust concerns from international regulators over Sanyo's pending merger with Panasonic Corp.

Sanyo's board of directors signed off Wednesday on the sale of part of its nickel-metal hydride battery business, its cylindrical primary lithium battery unit and its coin-shaped rechargeable battery business to FDK Corp., which Sanyo noted was a condition for the Panasonic deal...
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