Toys R Us Poised To Sell Asian Business To Debtholders

Law360 (October 30, 2018, 10:09 PM EDT) -- Toys R Us Inc. notified a Virginia bankruptcy judge Monday that it will be seeking court approval to sell its Asian business, touted as the failed retail giant's "most valuable remaining asset," to a group of senior noteholders who came in with a $760 million stalking horse bid.

Lawyers for Toys R Us told the 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...

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