Wednesday to Sunday!
31 Jan – 4 Feb 2018
The article, entitled “Toys R Us Poised to Sell Asian Business to Debt Holders”, states:
“Lawyers for Toys R Us told the [bankruptcy] judge the company would seek his approval next week to sell its 85 percent equity interest in Toys (Labuan) Holding Ltd., which comprises the retailer’s business across Japan, China and Southeast Asia. According to court documents, the stalking horse bidder has committed to acquire the Asia joint venture with a combination of a $300m credit bid and cash.”
In an article published yesterday (7th November), global toy expert Richard Gottlieb stated: “This is notable because there has been an ongoing struggle between Toys R Us and Li & Fung over the latter’s attempts to buy the Asian holdings...“
„Prior to the bankruptcy, Toys R Us and Li & Fung jointly owned Toys R Us Asia with the latter owning 15% of the shares. Li & Fung has been attempting to purchase the other 85%. Toys R Us has been concerned that the price Li & Fung was willing to pay under auction would be too low. As a result they have been attempting to block Li & Fung’s efforts.“
Toys (Labuan) Holding Limited operates and manages, under licence, the Toys R Us chain of stores in nine Asian markets in Greater China and Southeast Asia. It offers toys and children’s products through the retail stores. The company was founded in 2011 and is based in Hong Kong. Toys (Labuan) Holding Limited operates as a subsidiary of Toys R Us Inc.