Brief: Bank of Iwate to fully acquire two units via stock swap

Bank of Iwate

18/05/2016 08:43

May 18 (Reuters) - Bank of Iwate Ltd  8345.T  : 
     
    * Says it plans to fully acquire DC card unit and credit 
service unit via stock swap respectively, on June 30 
    * Says one share of DC card unit's stock will be exchanged 
with 730 shares of the company's stock 
    * Says one share of credit service unit's stock will be 
exchanged with 689 shares of the company's stock 
    * Says 141,900 of the company's shares will be exchanged 
    * Says the two units will be the wholly owned subsidiaries 
of the company after the transaction 
     
    Source text in Japanese: https://goo.gl/aJzEsC 
    Further company coverage: 8345.T  
 
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Keywords: BANK OF IWATE/BRIEF