Panasonic to complete Zetes acquisition in 300m euro deal
Japanese electronics giant Panasonic acquired 57.01% of Zetes and will launch a mandatory takeover bid for the remaining 42.99% of shares in the Belgian supply chain and mobility solutions company.
The deal has been approved by the relevant competition authorities.
The price that was paid by Panasonic in each of these transactions reflected a purchase price of EUR 54.50 per Zetes share.
The combination of both Panasonic's and Zetes' businesses is said to offer significant opportunities to exploit the future growth both in supply chain solutions and security solutions.
Panasonic will support Zetes growth by opening paths to enter the United States and wider Asia Pacific region, and marketing Zetes' services and solutions to Panasonic's corporate clients.
While Zetes has become a subsidiary of the Panasonic group, Panasonic has the intention to keep Zetes and its subsidiaries as a separate business division for the foreseeable future.
Mr. Alain Wirtz and Mr. Jean-François Jacques will continue to act as managing directors of Zetes and Mr. Pierre Lambert will continue to act as chief financial officer of Zetes.
