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Byline: Charles Smith
TOKYO -- Japan's largest golf club operator, Nitto Kogyo Co., will announce its choice of a foreign buyer for all 30 of its clubs by the end of the month, a spokesman said Wednesday.
The Nihon Keizai Shimbun newspaper reported that Goldman, Sachs and Co. had made a winning bid, but both Nitto and Goldman refused to confirm this.
Nitto Kogyo went bankrupt in December 1997 with debts of [yen]270 billion ($2.2 billion) and has been seeking a foreign buyer as part of a reconstruction plan launched in July 2000.
Nitto's deal with Goldman would be one of the first instances in which a foreign investor has bought a Japanese …