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Report: Toys R Us exploring Asia options

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Report: Toys R Us exploring Asia options

Toys R Us, the privately held retailer that filed for bankruptcy in the United States in September, has been considering an IPO for its Asian business, Bloomberg reported Oct. 17, citing people familiar with the matter.

The Chapter 11 bankruptcy filing marked one of the largest retail filings in the last two decades when measured by assets and liabilities at the time of filing. As of April 29, Toys R Us had $6.57 billion in total assets and $7.89 billion in total liabilities, according to S&P Capital IQ.

The Asian segment of the Toys R Us business was not included in the September bankruptcy filing. The specialty toy retailer owns about 85% of the Asian business, while Fung Group, a private holding company run by Hong Kong businessmen and brothers Victor Fung and William Fung, owns the rest. The deal could value the Asian portion of the Toys R Us business at as much as $2 billion, according to the Bloomberg report.Toys R Us had a 20% share of the $20.7 billion Asia Pacific traditional toys and games market. An IPO of the Asian business would allow U.S. private equity owners to sell shares in that, higher performing business, Bloomberg reported.

Toys R Us had a 20% share of the $20.7 billion Asia-Pacific traditional toys and games market. An IPO of the Asian business would allow U.S. private equity owners to sell shares in that higher-performing business, Bloomberg reported.