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Key Safety Systems to buy almost all Takata assets for 175 bln yen
June 26, 2017 / 12:33 AM / 5 months ago

Key Safety Systems to buy almost all Takata assets for 175 bln yen

June 26 (Reuters) - Key Safety Systems said on Sunday that it had reached a deal with Air-bag maker Takata to purchase nearly all of Takata’s global assets and operations for an aggregate purchase price of about 175 billion yen ($1.57 billion) after the company filed for bankruptcy in the United States and Japan.

Takata Americas, the U.S. unit of Japan’s Takata Corp , filed for Chapter 11 bankruptcy protection in the United States on Sunday, facing billions of dollars in liabilities stemming from its defective air bag inflators.

$1 = 111.3000 yen Reporting by Parikshit Mishra in Bengaluru; Editing by Andrew Hay

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