Key Safety Systems plans new debt for purchase of Takata assets

By Sara Rosenberg

New York, Nov. 21 – Key Safety Systems plans on using a combination of debt and equity to fund its acquisition of substantially all of Takata Corp.’s assets and operations for an aggregate purchase price of $1,588,000,000, according to a news release.

Closing is expected in the first quarter of 2018, subject bankruptcy court approval in both Japan and the United States, consenting OEM agreements and customer documentation, receipt of regulatory approvals and other customary conditions.

Key Safety Systems is a Sterling Heights, Mich.-based supplier of advanced engineered safety products for automotive and non-automotive markets. Takata is a Tokyo-based supplier of automotive safety systems.

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