Experian sets up JV with Italian credit info provider

Experian, the credit checking firm, has signed an agreement to form a joint venture (JV) with Cerved Group to provide enhanced consumer credit information services to the Italian market.

Cerved Group is a major provider of credit information in Italy and will hold a minority stake in the JV.

The JV, known as Experian Cerved Information Services, will be established with initial gross assets of around $14m.

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The joint venture was set up to create a comprehensive consumer information bureau by combining Experian's existing consumer credit information business in Italy with Cerved group's consumer credit data.

The joint venture will use Experian's bureau technology and value-added products to provide innovative new services to the Italian consumer credit market, the firm said.

The share price fell 0.2% to 976p by 13:39.

NR