Pana­sonic seen cir­cling ZKW

China Daily (Hong Kong) - - BUSINESS -

Pana­sonic Corp is in dis­cus­sions to buy Aus­trian head­light man­u­fac­turer ZKW Group GmbH, a per­son fa­mil­iar with the mat­ter said. If true, Pana­sonic could be­come the lat­est ma­jor elec­tron­ics man­u­fac­turer to branch out into auto parts. The deal amount hasn’t been de­cided and it is not clear whether and when the deal will be an­nounced, said the per­son, who asked not be iden­ti­fied be­cause the ne­go­ti­a­tions are pri­vate. The Nikkei news­pa­per ear­lier re­ported, with­out cit­ing names, that the head­light maker could be worth as much as 100 bil­lion yen ($880 mil­lion). Hit­omi Ishikawa, a spokes­woman for Osaka-based Pana­sonic, de­clined to com­ment.

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