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.
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