Yahoo Finance 
Noteholders, Fung Retailing to control Toys ``R'' Us Asia
Noteholders of Toys “R” Us Inc will acquire an 85 per cent stake in Toys (Labuan) Holding in a deal that will separate the toy retailer’s business in Asia from its US parent.
With the acquisition, holders of the TRU Taj LLC’s senior secured notes will control a company that operates over 450 stores in Japan, Greater China and Southeast Asia, and over 85 licensed stores in the Philippines and Macau.
Valued at US$900 million after the deal, Toys (Labuan) operates as a separate entity from all other Toys “R” Us companies around the world.
The Taj noteholders and Fung Retailing, which holds the remaining 15 per cent in Toys (Labuan), have also agreed to new partnership terms, according to a statement by Toys (Labuan) on the deal. The retail arm of the Fung Group will acquire an additional 6 per cent stake in Toys (Labuan) from the Taj noteholders to raise its interest to 21 per cent, making it the single largest shareholder.
Toys (Labuan) will continue to be led by President & CEO, Andre Javes.
Toys ‘R’ Us Inc filed for bankruptcy protection in September 2017. The retailer’s operations outside of the US and Canada, including about 255 licensed stores and joint venture partnerships in Asia, are not part of the Chapter 11 filing.
