Axis Bank has signed an agreement with GUS Holdings BV to sell 1.40 crore equity shares or 10% of total outstanding shares of Rs 10 a share face value of Experian Credit Information of India. Gus Holdings BV will buy the shares at Rs 45.7 a share, resulting in a total cash consideration of Rs 64 crore. The indicative time for completion of the transaction is June 2017.
Axis Bank is India’s third-largest private sector bank. The Bank offers entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
