Lazard in control as push for Takata solution builds: source

Tokyo

LAZARD is driving financial restructuring talks for Takata Corp, with the Japanese airbag maker's founding family now firmly in the back seat, a person briefed on the process said.

Takata, at the centre of the car industry's biggest safety recall, said two weeks ago that its steering committee had hired the US financial services firm to lead the restructuring process. Since coming in, Lazard has taken control from Takata's board and the Takada family, which had struggled to make much headway in talks with carmaker customers, said the person, who did not want to be named because of the private nature of the discussions.