Global credit and information services company TransUnion has picked up an additional 7.5 per cent stake in Cibil to take its holding in the country’s largest credit information company to a majority 55 per cent.
“We have received regulatory approval to achieve majority ownership in Cibil,” the US-based TransUnion said in a statement, adding, its stake in the city-based company has now gone up to 55 per cent.
Standard Chartered Bank and the non-banking financial player Sundaram Finance are believed to have exited their entire 5 percent and 2.5 percent stake respectively, in the city-based company. However, details of the transactions like the amount paid for the stake were not immediately revealed.
TransUnion has been working with Cibil since 2001 and has been raising its stake in the company for some time.