Experian 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 utilize 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.
Source: Experian Press Release