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Panasonic to sell three Japan chip plants to Israel’s TowerJazz: sources


By Reiji Murai TOKYO (Reuters) – Panasonic Corp will sell its three main chip plants in Japan to Israels TowerJazz, people with direct knowledge of the matter said on Wednesday, as the electronics giant wraps up a multi-billion-dollar restructuring drive. The sale is expected to happen before Panasonic closes its books on the current financial year next March, the sources said, without giving an anticipated value for the deal. Panasonic said nothing had been decided. TowerJazz declined to comment.

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