Panasonic in talks to buy ZKW for up to US$1 billion: Nikkei

(Dec 5): Japan's Panasonic Corp is in the final stages of talks to buy European automotive light maker ZKW Group for up to US$1 billion ($1.4 billion), accelerating its push into the automotive electronics market, the Nikkei business daily reported Monday.

The two companies could reach a basic agreement as early as this month, the Nikkei said.

Privately held ZKW supplies light-emitting diode headlights and lighting modules to US and European automakers such as General Motors Co and BMW. It forecasts sales of about 900 million euros ($1.35 billion) in 2016.

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