Aeon Co., Ltd. (TSE:8267) agreed to acquire remaining 29.9% stake in MaxValu Tohoku Co.,Ltd. (TSE:2655) from a group of shareholders for ¥5.7 billion on December 10, 2019. As per the terms, Aeon Co., Ltd. will issue 0.65 shares for each share of MaxValu Tohoku. Post the transaction, MaxValu Tohoku will become wholly owned subsidiary of Aeon Co., Ltd. The Board of Directors of MaxValu resolved the transaction. The transaction is expected to close on March 1, 2020. Yodoyabashi & Yamagami Legal Professional Corporation acted as legal advisor to Aeon Co., Ltd. and TMI Associates acted as legal advisor to MaxValu Tohoku. Nomura Securities and MUFG Bank provided valuation to Aeon Co., Ltd. and MaxValu Tohoku Co.,Ltd. respectively.

Aeon Co., Ltd. (TSE:8267) completed the acquisition of remaining 29.9% stake in MaxValu Tohoku Co.,Ltd. (TSE:2655) from a group of shareholders on February 27, 2020.