Formation of joint venture with Cerved Group SpA

RNS Number : 3550B

Experian plc

16 April 2012

 



news release

 

Formation of joint venture with Cerved Group SpA

16 April 2012 - Experian, the global information services company, announces that it has signed an agreement to form a joint venture with Cerved Group SpA to provide enhanced consumer credit information services to the Italian market. Cerved Group is one of the leading providers of credit information in Italy. The formation of the joint venture is subject to regulatory approval.

The joint venture will create a comprehensive consumer information bureau by combining Experian's existing consumer credit information business in Italy, including data supplied by international banks and consumer finance houses, with Cerved Group's consumer credit data, supplied by major Italian banking groups. The joint venture will utilise Experian's bureau technology and value-added products to provide innovative new services to the Italian consumer credit market.

On receipt of regulatory clearance, the joint venture company, Experian Cerved Information Services SpA, will be established with initial gross assets of approximately USD$14m (Euro 10m). Experian will own a majority stake in the company.

Contact

Experian

Nadia Ridout-Jamieson          Director of Investor Relations                              [phone]

James Russell                        Communications Director, UK&I and EMEA

RLM Finsbury

Rollo Head                                                                                                         [phone]

Don Hunter

About Experian

Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The Group helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.

Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2011 was US$4.2 billion. Experian employs approximately 15,000 people in 41 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil. 

For more information, visit http://www.experianplc.com.

 

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