Bank of India sells entire 5% stake in TransUnion CIBIL to TransUnion International

Highlights:

1. Bank of India has sold 5% stake in TransUnion CIBIL to TransUnion International on Wednesday

2. The bank sold the stake of TransUnion CIBIL at the rate of Rs 1,525.00 per equity share for a total consideration amount of Rs 190.62 crore

3. TransUnion International offers total credit protection from credit score, credit report and credit alert  

Bank of India has announced on Thursday of selling its entire 5% stake in TransUnion CIBIL to TransUnion International. 

"In complaince of clause 30 of the Sebi LODR Regulations 2015, we wish to inform that the bank has sold its entire stake of 5% (12,50,000 shares) in TransUnion CIBIL Limited (TUCIBIL) to TransUnion International Inc (TUI),"   Bank of India said in a filing to the BSE.

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TransUnion International offers total credit protection from credit score, credit report and credit alert.  

"The deal was concluded on March 22, 2017, at the rate of Rs 1,525.00 per equity share for a total consideration amount of Rs 190.62 crore," the bank further said in a statement.

At 11:07 hours, the stock of Bank of India was trading up 0.68% or Rs 0.85 at Rs 126.55 on the BSE.

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Bank of India is a nationalised bank headquartered out of Mumbai in Maharashtra, India.

TransUnion CIBIL is a credit information company and has over 2,400 members including leading banks,financial institutions, non-banking financial companies and housing finance companies and it maintains credit records of over 550 million individuals and businesses.