Troubled Daiei Inc. is planning to sell a majority of its shares in the Fukuoka Daiei Hawks baseball team and its ballpark, the Fukuoka Dome, as part of efforts to reduce its massive interest-bearing debts, according to company sources.
The sources said Thursday that the company has included the plan in a new restructuring program, which has already been proposed to Daiei's four main creditor banks -- Sanwa Bank, Fuji Bank, Tokai Bank and Sumitomo Mitsui Banking Corp. Negotiations between Daiei and the banks are expected to begin early next week.
Daiei also plans to sell off Fukuoka Daiei Real Estate, which owns the dome and the Sea Hawk Hotel & Resort.