TYO:3198

Create Restaurants to Absorb SFP Holdings Under Merger

Create Restaurants Holdings (TYO:3387) and SFP Holdings (TYO:3198) said they agreed to an absorption-type merger, with Create Restaurants as the surviving company, according to a Tuesday filing on the Tokyo Stock Exchange.The deal is set to take effect on July 1, subject to approval by SFP shareholders on May 21, while Create Restaurants Holdings will proceed under simplified procedures.SFP shares are expected to be delisted on June 29, with the last trading day on June 26.The companies said the merger will help streamline resources and improve decision-making amid labor shortages, rising costs and changing consumer preferences.