77 BankLtd. plans to make its affiliate 77 Card Co. a wholly owned unitthrough a share exchange.
The bank said Oct. 7 that the transaction will take placeNov. 11. The exchange ratio was not disclosed.
77 Bank directly holds a stake of 6.06% in 77 Card and astake of 28.28% through consolidated units. The remaining shares are held byseveral companies, including JCB Co. Ltd. and Sumitomo Mitsui Card Co.Ltd.