Aeon To Sell Talbots To US fund

Aeon Co., a leading operator of general merchandise stores announced that it will sell major US clothing retailer Talbots Inc. to an American investment fund. Aeon divests when Talbots merges with a special-purpose company under US fund BPW Acquisition Corp. in Feburary. When it takes place, Aeon will sell its entire 54% of about 29.9 million shares to the US clothier. At the same time, Talbots will repay all of the roughly 20 billion yen it has borrowed from Aeon.