Advantage Partners buys Sanyo’s camera business

All of the shares in Sanyo DI Solutions will transfer to AP26, subsidiary of a fund controlled by Advantage by the end of March 2013. The business unit, which has JPY10 million in capital, develops and sells OEM digital cameras and digital movie cameras. Sanyo Electric spun off the camera business in July so as to facilitate the divestment.

Panasonic aims to sell JPY110 billion of assets, including buildings and land, by the end of March to boost free cashflow to JPY200 billion for the business year. The company expects an annual net loss of close to $10 billion as it writes off billions in deferred tax assets and goodwill.

Advantage is currently investing out of its fourth fund, a JPY215.6 billion vehicle that closed in 2007. Earlier this year, the private equity firm completed the JPY12.83 billon take-private of Japanese home builder Yasuragi. More recently, it sold a controlling stake in restaurant operator Rex Holdings to Colowide for JPY13.7 billion.

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• Topics
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