In the third major M&A deal out of Japan this week, private equity and investment giant KKR said Friday it has agreed to acquire Panasonic’s health care unit for $1.67 billion.
Japanese firm Nagashima Ohno & Tsunematsu is advising Panasonic on the transaction, which comes as the Osaka-based electronics giant moves to streamline its operations amid mounting losses. Earlier this month Panasonic stopped selling smartphones in its home country, a little more than a year after the company announced it would start manufacturing television panels in tandem with rival Sony.
