TOKYO: Takata Corp, the embattled Japanese air-bag supplier that’s put itself up for sale after triggering the auto industry’s biggest safety recall, aims to shortlist two to three candidates by October, according to people familiar with the process. Bidders for Tokyo-based Takata have been asked to submit their proposals by early next week, said the people, who asked not to be identified because the information is confidential. The sale will be closely scrutinised by the world’s largest automakers, which are likely to spend the next several years recalling air-bag inflators that can rupture and shoot deadly shards at vehicle occupants. While KKR plans to make a bid on its own, it hasn’t ruled out working with a partner, said one of the people. Almost 70 million Takata airbag inflators are scheduled for replacement between now and 2019, the largest and most complex auto-safety recall in US history.

Source: The Star September 19, 2016 00:58 UTC