TCL Electronics Holdings Ltd. agreed to buy a majority stake in Sony Group Corp.’s global home entertainment business, giving a lift to the Chinese company’s expansion overseas.
TCL will pay 75.4 billion yen ($475 million) for a 51% stake in a new joint venture that will hold Sony’s home entertainment business including Bravia televisions, according to a statement Tuesday, confirming an earlier Bloomberg News report. Sony will retain a 49% stake in the business, which includes research and development, design, manufacturing and product sales, as well as home audio equipment.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.bloomberg.com ’
