£1bn Callcredit deal completes
A US group has confirmed the completion of its £1bn deal to buy Leeds-based credit reference company Callcredit Information Group after receiving Financial Conduct Authority (FCA) approval.
Callcredit is the second largest and fastest growing consumer credit bureau in the UK and provides data, analytics and technology solutions.
Jim Peck, TransUnion’s president and chief executive officer, said: “We are pleased to have received regulatory approval to acquire Callcredit, and we look forward to beginning the integration of the two businesses.
“It’s clear that the combination of our respective assets will drive value to our investors, customers and consumers in both the United Kingdom and across global markets TransUnion serves.”
TransUnion previously announced that it had agreed to acquire Callcredit on April 20 and received regulatory approval from the FCA in the UK on June 12, 2018.
RBC Capital Markets acted as lead M&A advisor. Deutsche Bank acted as lead financing arranger along with RBC Capital Markets, Bank of America Merrill Lynch and Capital One who acted as joint arrangers. Citigroup and Deutsche Bank also advised on the transaction. Legal advisor was Sidley Austin, LLP.
Paul Mann, Craig Pettit and Emily Downie from Squire Patton Boggs also advised management on the deal.
