Monex to make Sony Bank Securities its unit for $27.9 mln

TOKYO, July 17 Tue Jul 17, 2012 12:18am EDT

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TOKYO, July 17 (Reuters) - Monex Group said on Tuesday it will acquire all shares of Sony Bank Securities Inc, a wholly owned subsidiary of Sony Bank Inc.

The Japanese online brokerage will pay 2.2 billion yen ($27.9 million) to Sony Bank for the stake and will make Sony Bank Securities its unit.

Sony Bank is a unit of Sony Financial Holdings. ($1 = 78.7400 Japanese yen) (Reporting by Miki Kayaoka; Editing by Michael Watson)