Panasonic mulls selling security camera factory

TOKYO, Mar 11 (Reuters): Panasonic Corp is considering selling a Chinese plant that makes security cameras in a deal it hopes will fetch over US $450 million.

Panasonic is looking to close first-round bidding in early April, and potential buyers include US equity fund Carlyle Group and British funds Permira and CVC Capital Partners.

Panasonic expects to gain over 50 billion yen ($468 million) from selling the plant in Suzhou, a city in southeast China's Jiangsu province, money that could be used in its other key businesses such as automotive batteries.

The firm may end talks if it does not receive an agreeable bid.