Deals
Takata’s New Chinese Owner Emerges as Big Auto-Safety Player
- Ningbo Joyson wins big with Takata deal, avoiding recall costs
- Wang has built auto parts empire on decade-long takeover run
Takata Bankrupt With $10B in Liabilities
Wang Jianfeng has been on an epic acquisition tear over the past decade, assembling a formidable auto parts empire in China with $4 billion in revenue.
Now, the 46-year-old Wang, founder and chairman of Ningbo Joyson Electronic Corp., is about to pull off his biggest deal yet: a $1.59 billion takeover of Takata Corp., the troubled air-bag maker that filed for bankruptcy protection on Monday and is in the midst of the largest auto recall in history.