Takata Corp (7312.T) has shortlisted Sweden’s Autoliv Inc (ALV.N) and U.S. parts supplier Key Safety Systems as potential bidders for the Japanese airbag maker at the center of the world’s biggest auto recall, Bloomberg reported.
Those two bidders were preferred because of their expertise in making airbag systems and safety equipment, as carmakers look for ways to improve efficiencies in Takata’s production, the report said, citing people familiar with the deal.
Takata is seeking an investor to help it restructure as global automakers face liabilities of $10 billion or more from recalls involving defective airbags which have been linked to at least 15 deaths worldwide.
The second-most preferred bidder was Key Safety Systems, owned by China’s Ningbo Joyson Electronic Corp (600699.SS) and backed by private equity firm Carlyle Group (CG.O), according to the sources.
Daicel Corp, which teamed up with a U.S. buyout firm Bain Capital came in third. U.S. parts maker Flex-N-Gate Corp is another bidder.
(Reporting by Junko Fujita; Editing by Stephen Coates)
Recent Articles on M&A
Source: Reuters.com
