Towa Real Estate to get 200 bln yen ($1.68 billion) in aid

Towa Real Estate Development Co 8834.T is likely to receive 200 billion yen ($1.68 billion) in aid from its banks, including UJF Bank, a member of UFJ Holdings Inc, and Sumitomo Mitsui Banking Corp, the Nihon Keizai Shimbun said on its Website on Tuesday.

The financial daily said the deal would mainly take the form of debt-forgiveness for the heavily debt-laden firm. A Towa spokeswoman said she had heard nothing about the proposed deal.

(source: Reuters)

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