Takata Said to Avoid Bankruptcy in Seeking Funds From Buyer
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Adviser Lazard said to meet manufacturers, financial firms
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Takata said to be open to group of investors boosting funds
Takata Corp. has ruled out using bankruptcy as a way of mitigating liabilities from its record air-bag recalls and is instead seeking buyers that could take a controlling stake and carry the company through its crisis, according to a person with knowledge of the restructuring process.
Lazard Ltd., Takata’s financial adviser, will meet manufacturers as well as financial firms with the aim to find buyers by the fall, said the person, who asked not to be named because the discussions are private. Takata’s plan is to remain listed and maintain its core seat-belt, air-bag and steering-wheel businesses, while selling off non-core operations, the person said. Takata spokeswoman Akiko Watanabe declined to comment…
Takata Said to Avoid Bankruptcy in Seeking Funds From Buyer
