To ease up a bit the recall costs burden, prescription diagnosis the Japanese auto supplier raises cash by giving up on shares it owns in automakers.
As it is looking at several ways on how to resurface after it has plunged into a deep financial crisis over the massive airbag recalls, viagra Takata found a solution in selling the stakes it holds in various automakers. According to a recent report from a daily Japanese newspaper, tadalafil the auto supplier sold nearly all of its 2.2 million shares in its largest customer by April, namely Honda. It also owns shares in Toyota, Nissan, Subaru’s owner Fuji Heavy Industries, Mitsubishi and Suzuki. According to Bloomberg, all of Takata’s stakes in carmakers are currently worth around 88 million dollars.
But the big rescue will come from one of the many investors that have shown interest in a takeover. Sources recently told Reuters that as many as 30 potential parties are looking to invest in Takata, while some of them have already started exploratory talks with Lazard, the investment bank hired by the supplier to negotiate a deal.
Considering the latest expansion of the airbag safety campaign announced in US and Japan, the number of recalls may exceed 100 million worldwide. The deadly inflators claimed at least 13 lives and are involved in over one hundred injuries. Takata CEO Shigehisa Takada, the grandson of the firm’s founder, has reportedly offered to resign once an agreement is reached over a financial rescue for the company.