GS Yuasa Acquires Panasonic's Lead Acid Battery Business
We are pleased to announce that our client GS Yuasa Corporation (TSE:6674), the world leader in batteries and power supply systems, has entered into a basic agreement with Panasonic Corporation (TSE:6752) to acquire Panasonic’s lead-acid battery business for an estimated purchase price of 30 billion yen (US$250 million). It is the first significant acquisition for GS Yuasa since GS and Yuasa merged in 2004 and consistent with the company’s growth strategies as it continues to expand its global market share in the automotive and industrial lead-acid battery industries. For Panasonic, this transaction will allow it’s Automotive & Industrial Systems Company to focus R&D resources to the lithium battery business and other next generation energy storage technologies.
GCA Savvian acted as exclusive financial advisor to GS Yuasa. The transaction is expected to close after signing of the final share transfer agreement and appropriate closing procedures in the first quarter of 2016.