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Baring Private Equity Asia to buy Japan's Pioneer for $900 million

Reuters  |  TOKYO 

By Junko FujitaTOKYO (Reuters) - Baring Private Equity Asia will buy cash-strapped Japanese electronics firm Pioneer Corp for $900 million, in a two-stage investment that marks the latest attempt by the country's car navigation system makers to survive.The buyout firm is providing cash that is much needed by Pioneer, which had 50 billion yen ($443 million) of interest-bearing debt as of end-March and which will need further investment to be competitive.Car navigation system makers are trying to keep up with a shift by carmakers into new technologies such as autonomous driving, connected cars ...

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First Published: Fri, December 07 2018. 17:14 IST