Takata seeks cash infusion, help dealing with car companies on air-bag liabilities

Takata Corp. employed investment bankers to seek a cash infusion and work out with car companies over the ballooning costs it deals with for rupture-prone air bags connected to 11 deaths and more than 100 injuries globally.

Takata tapped Lazard Ltd. to assist craft a restructuring plan to assist it handle exactly what are anticipated to be billions of dollars in liabilities originating from the defective air bags, a steering committee for the company stated Wednesday, verifying an earlier report from The Wall Street Journal.

The service hopes to find a monetary financier or vehicle company to supply more cash, and reach a handle vehicle makers on sharing the expenses of recalling almost 70 million air bags in the U.S. alone.