Takata Corp., the embattled Japanese air-bag supplier that's put itself up for sale after triggering the auto industry's biggest safety recall, aims to shortlist two to three candidates by October, according to people familiar with the process.
Bidders for Tokyo-based Takata have been asked to submit their proposals by early next week, said the people, who asked not to be identified because the information is confidential. Suitors include Carlyle Group LP, which is working with Chinese-owned air-bag manufacturer Key Safety Systems; Daicel Corp., a Japanese maker of air-bag inflators that's jointly bidding with Bain Capital; and KKR & Co., they said.
The sale will be closely scrutinized by the world's largest automakers, which are likely to spend the next several years recalling air-bag inflators that can rupture and shoot deadly shards at vehicle occupants. Takata set up a committee in February that's been negotiating with its car-making customers, led by Honda Motor Co., on the costs related to replacing the defective parts linked to as many as 15 deaths worldwide.
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