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Noteholders and Fung Retailing extend lifeline to Toys 'R' Us Asia
Holders of the TRU Taj LLC's senior secured notes to take 85% equity stake in Toys (Labuan) ; management team to stay
Published Fri, Nov 16, 2018 · 09:50 PM
Singapore
NOTEHOLDERS of Toys "R" Us Inc have joined hands with Fung Retailing to extend a lifeline to the toy retailer's operations in Asia.
On Friday, the holders of the TRU Taj LLC's senior secured notes issued by Toys "R" Us Inc , or the Taj noteholders, unveiled a proposed acquisition of an 85 per cent equity in Toys (Labuan) Holding, in a move to separate the Asian business of the toy retailer from its ultimate parent in the US.
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