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77 Bank to make 77 Card wholly owned unit

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.