TOKYO Dec 5 Japan's Panasonic Corp is
in final talks to buy European automotive light maker ZKW Group
for up to $1 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 U.S. and European automakers such as
General Motors Co and BMW. It forecasts sales
of about 900 million euros in 2016.
Panasonic said in a statement the reported deal was not
something it had announced, adding it does not comment on
($1 = 113.3400 yen)
(Reporting by Makiko Yamazaki; Editing by Chang-Ran Kim)