Experian Spends $1.5B To Boost Stake In Brazil Unit

Law360, New York (October 23, 2012, 12:41 PM EDT) -- Credit data services company Experian PLC will increase its existing stakes in affiliate Serasa SA through a 3.1 billion Brazilian real ($1.5 billion) deal with several banks, the companies announced Tuesday, on the heels of a new Brazilian law expected to boost Serasa's growth.

Funding the buy with a mix of cash and existing credit facilities, Experian will add another 29.6 percent interest to its existing 70 percent share and will almost fully own Serasa. The stakes are being purchased from a consortium of banks including...
To view the full article, register now.