Toys “R” Us Inc., the retailer whose North American operations are in bankruptcy, is in talks to sell its growing Asian business to its local partner, people with knowledge of the matter said.
The U.S. chain is in discussions to offload its 85 percent stake in the Asian venture to Hong Kong’s billionaire Fung brothers, who own the remainder of the business, according to the people. A deal could give Toys “R” Us Asia a valuation of at least $1 billion, one of the people said, asking not to be identified because the details are private.