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Korea M&A Corporation
Resona Holdings to sell 12% stake in JCB 본문
TOKYO (MarketWatch) -- Resona Holdings Inc. (8308.TO) said Thursday its group companies have agreed to sell approximately 12% of their stake in outstanding shares of unlisted credit card company JCB Co. to Orix Corp. (8591.TO) and the Nomura Holdings Inc. (8604.TO) group.
A Resona Holdings spokesman declined to disclose the value of the sale of the 12% stake.
After the sale, the Resona group will hold a remaining 3% stake in JCB and will continue their tie in credit card operations, the banking group said in a release.
The sale is part of its efforts to review its assets. Resona has accelerated write-offs of nonperforming loans and taken other drastic business reforms.
Nomura Holdings said in its press release that its group will buy about a 7% stake in JCB from Resona for an undisclosed price. Of the 7%, about 5% will be bought by its unit Nomura Securities, for the purpose of selling the shares in the future.
Orix said separately in a press release that it will purchase about a 5% stake in JCB from Resona and form a tie-up in settlement services and credit card operations for corporate customers.
-Edited by Shawn Schroter and Chris Gallagher
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