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JVC sale flounders as banks wobble

June 11th, 2007 · No Comments

Is the sale of JVC from Matsushita to US private equity firm Texas Pacific Group about to fall through? According to Reuters, a reluctance of banks to finance the 560 million dollar purchase price could scupper the deal altogether. Majority share-owner Matsushita is desperate to off-load the ill-performing Japanese CE company. If the TPG deal sours, then previous bidders Cerberus Capital Management and Kenwood USA could be invited back to the table.

Tags: Corporate · Trade

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