J. Front Retailing Co., Ltd. (TSE:3086) made an offer to acquire remaining 35% stake in Parco Co.,Ltd. (TSE:8251) from Aeon Co., Ltd. (TSE:8267) and others for ¥65.7 billion on December 26, 2019. J. Front Retailing Co., Ltd. made the offer to acquire shares at ¥1850 per share. Post completion, Parco Co.,Ltd. will become wholly owned subsidiary of J. Front Retailing Co., Ltd. Transaction will be funded through borrowings.

Parco Co.,Ltd. has established special committee comprising of Hiroshi Takahashi, Noriko Nakamura and Tadayuki Seki. The transaction will settle on February 17, 2020. Nomura Securities Co., Ltd. and Miura & Partners acted as financial and legal advisors to J. Front Retailing Co., Ltd. respectively.