Sanyo Electric announced that it is in final negotiations to sell its mobile-phone operations to Kyocera. The companies issued a press release that stated Kyocera had "priority negotiating rights" to buy Sanyo's mobile business and the firms are still hammering out a final price tag. Japan's Nikkei reported that Kyocera offered $597 million for the business unit. The long-rumored and much anticipated sale means Goldman Sachs and its other investors will finally make back the $2.6 million they infused in Sanyo last year to keep it afloat.
For more on Sanyo's mobile biz sale:
- read this report [1] from the WSJ (sub. req.)
Related:
Report: Kyocera set to buy Sanyo's mobile unit [2]
Kyocera to acquire Sanyo handset arm [3]
Sanyo's statement regarding Kyocera acquisition rumors [4]
Links:
[1] http://online.wsj.com/article/SB119209263096055847.html?mod=telecommunications_primary_hs
[2] http://www.fiercewireless.com/story/report-kyocera-set-buy-sanyos-mobile-unit/2007-09-14
[3] http://www.fiercedeveloper.com/story/kyocera-acquire-sanyo-handset-arm/2007-09-18?utm_medium=rss&utm_source=rss
[4] http://www.fiercewireless.com/press-releases/sanyos-statement-regarding-kyocera-acquisition-rumors