Panasonic sells 90 per cent stake in its Malaysia manufacturing unit to GS Sola

The Panasonic Corporation has signed a collaboration and acquisition agreement with GS-Solar (China) Company Limited, a thin film solar manufacturer. The deal for an undisclosed amount is likely to conclude in November this year. Under the agreement, GS-Solar (China) will acquire Panasonic’s solar manufacturing subsidiary, Panasonic Energy Malaysia, while establishing a new company in collaboration with Panasonic. The shareholding would be in the ratio of 90:10, with GS-Solar holding a 90 per cent share and Panasonic owning the remaining 10 per cent.

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