Banks offer to help Sony offload battery unit

SELL OFF: Sony Corp has been approached by at least three investment banks offering to sell its battery business as the struggling Japanese group looks to offload non-core assets and focus on reviving its consumer electronics business, banking sources said. — Reuters

TOKYO: Sony Corp has been approached by at least three investment banks offering to sell its battery business as the struggling Japanese group looks to offload non-core assets and focus on reviving its consumer electronics business, banking sources said.

Selling the unit, which employs 2,700 people and had sales last year of US$1.74bil (RM5.22bil), would help Sony cut costs and generate cash as it restructures its operations, three people involved in the preliminary discussions told Reuters.