SAN DIEGO COUNTY - News from June 1, 1989

Atlanta-based Fuqua Industries on Wednesday completed its previously announced sale of Georgia Federal Bank to First Financial Management Corp. for $242 million.

The savings bank sale cleared the way for La Jolla-based Triton Group, which holds 9.9% of Fuqua’s common stock, to acquire more than 10% of Fuqua’s outstanding shares.

Federal regulators must approve stock sales that involve more than 10% of the outstanding shares of holding companies that own banks.

Triton has agreed to acquire more Fuqua shares held by the family of Fuqua founder and Chairman J. B. Fuqua.