Fujitsu to Sell 44% Stake in Fujitsu General to Paloma Rheem for $584 Million

Paloma

JAPAN: Fujitsu Ltd. has announced that it will sell its 44% stake in Fujitsu General Ltd. to Paloma Rheem Holdings Co. for $584 million.

This sale of the air conditioner manufacturer is part of Fujitsu's broader strategy to shift its focus towards becoming a technology service provider.

In 2023, Fujitsu also revealed plans to sell Shinko Electric Industries Co., a chip packaging company, to Japan Investment Corp., a government-backed investment fund. Additionally, the company is preparing to divest its stake in battery maker FDK Corp.

Paloma Rheem, the parent company of gas appliance manufacturer Paloma Co., intends to spend up to $1.6 billion through a tender offer to acquire full control of Fujitsu General.

Source: Fujitsu