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Bank of Baroda, others to sell 37.14% stake in Equifax Credit for 3.38B rupees

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Bank of Baroda, others to sell 37.14% stake in Equifax Credit for 3.38B rupees

A group of shareholders agreed to sell a total of 37.14% stake in India's credit reporting company Equifax Credit Information Services Pvt. Ltd. for 3.38 billion rupees.

Bank of Baroda, Sundaram Finance Ltd., State Bank of India, Kotak Mahindra Bank Ltd. and Union Bank of India will sell a total of 50,125,000 equity shares Equifax Credit Information Services at 67.43 rupees per share.

The transactions are expected to be completed in the fourth quarter, subject to regulatory approvals, according to separate filings dated Jan. 15 and Jan. 16.

Following the transactions, these shareholders will no longer own any interest in the Indian credit reporting company.

As of Jan. 15, US$1 was equivalent to 70.71 Indian rupees.