By Colin Kellaher

Equifax Inc. (EFX) on Friday said it agreed to raise its stake in its India unit, Equifax Credit Information Services Private Ltd., to 100%.

The Atlanta credit-reporting company said it is acquiring the interests held by several Indian financial institutions, including State Bank of India (500112.BY), Bank of Baroda (532134.BY), Bank of India (532149.BY), Kotak Mahindra Prime Ltd., Sundaram Finance Ltd. (590071.BY) and Union Bank of India (532477.BY).

Financial terms weren't disclosed.

Equifax said full ownership of the unit, which has operated as a joint venture between Equifax and its partners since 2010, "represents the strong confidence that Equifax has in India's economy and ECIS's growth potential."

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

January 17, 2020 08:23 ET (13:23 GMT)

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