Misawa to drop resorts in Y200 bln aid plan-paper

Newswire

TOKYO, Dec 24 (Reuters) - Home builder Misawa Homes Holdings is likely to quit the leisure and resort business in a restructuring plan expected to include over 200 billion yen ($1.93 billion) in aid, the Nihon Keizai daily said on Friday. The paper said on Thursday that UFJ Bank, a core unit of UFJ Holdings and Misawa's main lender, and a state-backed corporate turnaround body would waive 120 billion yen in debt and provide some 20 billion yen in debt-for-equity swaps. Misawa officials ...

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