Goldman Sachs stated it has finished negotiating the selling of its Sanyo holdings to Panasonic, as a result ending Panasonic’s attempt to buy its smaller competitor.

Apparently Goldman Sachs couldn’t accept the price offered by Panasonic. Sanyo’s biggest stakeholders are Goldman, Sumitomo Mitsui Banking Corp. and Daiwa Securities SMBC, which invested 300 billion yen in 2006 to rescue Sanyo.

The 3 companies have a combined stake of 70% in Sanyo.