Experian, the global information solutions company, announced today that it has agreed to acquire an initial 65% stake in Serasa, the market-leading credit bureau in Brazil and operator of the fourth largest credit bureau in the world, from a consortium of Brazilian banks. The stake will increase to 70% over the next six months. The purchase price for the initial stake is R$2.32 billion ($1.2 billion), inclusive of transaction costs, net of cash, and will be funded from Experian’s existing facilities.
The transaction, which is expected to be earnings neutral in the first full fiscal year of ownership and earnings enhancing thereafter, is expected to complete by the end of June.
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