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Business deals

Pioneer announces share sale to Hong Kong investment firm

Baring Private Equity Asia to buy up to $538m stake in Japanese electronics maker

Pioneer is in tie-up talks with potential partners as it seeks to catch up with the rapidly changing automotive electronics business.

Struggling Japanese consumer electronics maker Pioneer on Wednesday announced plans to sell up to 60 billion yen ($538 million) in equity to Hong Kong-based investment firm Baring Private Equity Asia, in a bid to revive its struggling car equipment business.

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