TYO:8289

Pan Pacific Concludes Share Exchange for Full Ownership of Olympic Group

Pan Pacific International (TYO:7532) has finalized its acquisition of Olympic Group (TYO:8289) through a simplified share exchange that took effect July 1, according to a Tokyo bourse filing on the same day.The store operator proceeded without shareholder approval, since the only objection came from a shareholder whose holdings were below the legal threshold.Olympic Group secured approval for the transaction at its general meeting on May 28.Olympic Group, now fully owned by Pan Pacific, operates shopping centers and manages group-wide strategy.