The bank had a 5% stake in the credit bureau; Transunion will now have a 32.5% stake
Mumbai: State-run Central Bank of India has sold its entire stake in Credit Information Bureau (India) Ltd (Cibil) to Transunion International Inc., the bank told stock exchanges. The lender had a 5% stake in the credit bureau.
Central Bank of India didn’t’ disclose the value of the transaction.
With this, Transunion will have 32.5% stake in the entity and is the largest shareholder in the firm that provides credit history of borrowers to banks and financial institutions.
Other major stakeholders include State Bank of India, which has 10% stake, and Housing Development Finance Corp. Ltd that owns 5%, according to the Cibil website. A few other state-run banks too hold a 5% stake each in the company.
On 24 February, Mint reported that the government had suggested that state-controlled banks should gradually sell their non-core investments and resist getting into new ventures where capital is required, citing bankers familiar with the development.
Sourse- Livemint.com
By
Shah Mohammad Abdul Qadir
PGDM 1st Year
IIMT College Of Management
Greater Noida, U.P.
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