J.Front to acquire 35% stake in Parco for $600m.

J.Front Retailing agreed to acquire the remaining 35% shares in Parco, a fashion-focused chain, for JPY65.7bn ($600m). J.Front offered a 35.6% premium to Parco’s closing price. The main aim of transaction is for further promotion of the joint development of stores, including large-scale multi-purpose facilities that would be difficult to handle alone.