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 from the WSJ (sub. req.)
Related:
Report: Kyocera set to buy Sanyo's mobile unit
Kyocera to acquire Sanyo handset arm
Sanyo's statement regarding Kyocera acquisition rumors