Key Safety Systems has agreed to terms on the $1.6 billion purchase of assets of Takata Corp., stricken by a recall of its faulty vehicle air bags, and final documents will be signed in less than two weeks, a lawyer for Takata’s U.S. unit said on Monday, Reuters reported. Takata and its U.S. unit, TK Holdings Inc., filed for bankruptcy in June and the asset sale to Key Safety Systems, or KSS, is the cornerstone of its plan to raise funds to compensate automakers and drivers. <b>Marcia Goldstein</b>, a lawyer for TK Holdings, told a U.S. bankruptcy judge on Monday that a U.S. deal had been reached and was being reviewed by lawyers in Japan, Germany and elsewhere. The sale must be approved by the U.S. Bankruptcy Court in Delaware, as well as regulators.
