Daikyo to sell $2.9 billion of properties-Nikkei
Sunday November 21, 11:51 AM
TOKYO, (Reuters) -Troubled developer, Daikyo Inc. is to sell more than 300 billion yen ($2.9 billion) worth of real estate as part of a restructuring plan, the Nihon Keizai Shimbun said on Sunday.
No buyer has yet been agreed, but Daikyo, Japan's largest condominium developer, would probably suffer substantial losses on the sales...10 office buildings, 4 golf courses and more than 1,000 rental apartments, reducing the group's total assets by 40 percent to 450 billion yen, the paper said.
