Oceans Holdings Co. To Accept Panasonic Corp.'s tender offer for Shares of Sanyo Electric Co.

Oceans Holdings Co., Ltd, which is a 100% (indirectly) owned company of The Goldman Sachs Group, Inc. (“Oceans”) has signed the Tender Offer Agreement (“the agreement”) with Panasonic Corporation (“Panasonic”) on September 18th 2009, which states that both parties have agreed that 89,804,900 Class A shares and 6,876,455 Class B shares of Sanyo Electric Co., Ltd.(“Sanyo”) will be tendered by Oceans to Panasonic, and also that for these shares, the authority to exercise its right as a shareholder at the shareholders’ meeting will be transferred to Panasonic, including any dividends received from Sanyo and any other economic profit.

Oceans has also exercised its right to convert its remaining 81,890,145 Class B shares into 818,901,450 common shares. At its discretion, Oceans may dispose any or all of its shares depending on its ongoing evaluation of its investment in Sanyo, prevailing market conditions, investment consideration and/or other factors.


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