Pioneer Agrees to Sell Home AV Biz

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Pioneer Corp of Japan has agreed to sell its audio/video business to both Onkyo and a Hong Kong-based private Equity firm called Baring Private Equity.

Baring will take a 51 percent stake in the AV company that supplies DVD players, digital photo frames and other audio products, said Reuters.

The companies are still determining what percentage of the business will be owned by Onkyo.

The deal is expected to be finalized by the end of August.

Source: Reuters

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