Takefuji selects A&P Financial as reorganization sponsor candidate

By Caroline Salls

Pittsburgh, April 11 - Takefuji Corp. has selected A&P Financial Co. Ltd. as the sponsor candidate for the reorganizing company, according to a company news release.

Takefuji said sponsor bids were submitted to it on March 31.

A&P will have priority negotiation rights. Negotiations with the proposed sponsor for the execution of a sponsorship agreement will begin at the end of April.

The sponsorship appointment is subject to court approval.

Takefuji is a Tokyo-based consumer finance company.

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