Experian to Acquire 51% Stake in Brazilian Fintech MOVA for $7.9 Million
May 16 2022 - 2:55AM
Dow Jones News
By Michael Susin
Experian PLC said Monday that it has agreed to acquire a 51%
stake in Brazilian fintech company MOVA Sociedade de Empréstimo
entre Pessoas S.A. for a cash consideration of 40 million Brazilian
reais ($7.9 million).
The consumer-credit reporting agency said the deal will
complement its existing business-to-business solution for small and
medium-sized companies.
The London-listed company said the deal will be funded from
existing cash and includes a call option to buy the remaining 49%
stake between 2026 and 2028.
MOVA's gross assets at Dec. 31 were BRL14.5 million.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
May 16, 2022 02:40 ET (06:40 GMT)
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