SYNOPSIS: Ministry of Commerce calls for Panasonic to cut stake in Panasonic EV Energy (PEVE) JV with Toyota from 40% to 19.5%.
SHANGHAI, Oct 30 - China on Friday granted Panasonic Corp anti-monopoly clearance to buy Sanyo Electric Co Ltd subject to conditions, including cutting its stake in a battery venture with Toyota Motor Corp.
China's ministry of commerce called on Panasonic to cut its stake in Panasonic EV Energy Co Ltd, a venture with the world's biggest automaker that produces batteries for hybrid electric vehicles, to 19.5 percent from 40 percent.
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