TOKYO -- Japan's Takata looks to file a turnaround plan with a Tokyo court by Nov. 27 that would have the scandal-rocked air bag maker sell nearly all operations to U.S. peer Key Safety Systems as soon as next spring.
The companies are thought to be concluding an agreement under which KSS pays $1.58 billion for Takata's operations in spring 2018. When the plan is submitted to Tokyo District Court, which is supervising Takata's rehabilitation, it will go to the company's creditors -- including major Japanese automakers -- for approval.
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