Monex to buy Orix Sec; Orix to buy 22.5 pct of Monex

Tue Oct 27, 2009 11:27pm EDT
 
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TOKYO, Oct 28 (Reuters) - Monex Group Inc (8698.T) and Orix Corp (8591.T) said on Wednesday Monex will buy Orix's securities unit, Orix Securities, to merge their securities operations.

Orix will buy a 22.5 percent stake in Monex as part of their tie-up agreement, the two companies said in a statement.

(Reporting by Yumiko Nishitani)

 

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