PAN AM <PN> SETS PACIFIC SATELLITE STAKE SALE <Johnson Geneva U.S.A.> said it has agreed to buy Pan Am Corp's 50 pct holding in their joint venture company, Pan Am Pacific Satellite Corp, for undisclosed terms. Johnson Geneva said Pan Am divested owership in the project as part of a corporate restructuring plan, but will continue to provide engineering services on a contract basis. Johnson Geneva said the buy out was accomplished through <Onpraise Ltd>, a Hong Kong company controlled by Johnson Geneva Chairman Michael Johnson. Funds have been provided by Onpraise to increase the satellite company's working capita.