TOKYO (Reuters) -Japan's Seven & i Holdings ( SVNDF ) plans to sell a partial stake in Seven Bank ( SEBNF ) to trading house Itochu ( ITOCF ), with an announcement expected as early as May 30, the Nikkei business reported on Tuesday.

Seven & i ( SVNDF ) will initially discuss with Itochu ( ITOCF ) the transfer of a stake of about 10% in Seven Bank ( SEBNF ), worth about 30 billion yen ($208 million), held by its group's supermarket operators Ito-Yokado and York Benimaru, the Nikkei reported.

Seven & i ( SVNDF ) is aiming to focus on its core convenience store business as it faces a takeover proposal from Canada's Alimentation Couche-Tard ( ANCTF ) .

Seven Bank ( SEBNF ) shares rose more than 8% following the report. A Seven & i ( SVNDF ) spokesperson said he could not immediately comment.

Details such as the size of the stake and price are to be announced in June, according to the Nikkei.

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