Experian acquires majority stake in APC Panama
After an exhaustive process, the Board of Directors submitted for approval by the Shareholders' Assembly the purchase-sale proposal that it considered meets the best conditions to maximize the value of shareholders, collaborators, clients and the financial system of Panama.
Source: Sumarse Org
The General Assembly of Shareholders of Grupo APC, S.A. approved by a large majority to sell 70% of its shareholding in APC BURÓ, S.A. to the company Experian Latam Holdings Unlimited.
Experian is the world leader in information services and has been named one of the world's most innovative companies by Forbes. It operates in 44 countries with more than 18,000 highly talented employees, investing in new technologies and innovation, helping companies and consumers around the world to access credit and maximize financial inclusion.
Experian's innovation contribution will be key in the development and implementation of new solutions in the market, given the technological, cultural, generational and relational changes that are glimpsed in this industry. APC BURÓ, S.A. It will continue serving its clients without any type of affectation and ensuring the availability, confidentiality and security of the Credit Reference System, the main risk mitigator for economic agents and enhancer of access to credit for all Panamanians and residents of our country. The company's management and operating personnel remain unchanged.
Grupo APC was advised throughout the process by the investment bank Inverlink and the law firm Alemán, Cordero, Galindo & Lee (ALCOGAL). The transaction is expected to close in the coming months, subject to applicable legal and regulatory approvals.
The multinational operates in 43 countries and is considered one of the most innovative companies in the world
Through a majority stake, of which no further details were given, the information services multinational, Experian, acquired APC Intelidat, credit bureau of the APC Panama Group.
APC Intelidat is one of the most important financial information and technology companies in Panama, which over the years has provided companies and consumers with valuable information for financial decision-making, through credit origination tools, administration portfolio management and data analytics, according to a statement.
According to the information, the general manager of APC Intelidat, Giovanna Cardellicchio, pointed out that "our mission as a company has been to provide information and technology services to support credit and financing decision-making, mitigating the risk of those who provide and facilitating access to credit for millions of Panamanians.
With Experian, these capabilities will be enhanced and a leading company recognized for its innovation and commitment to financial inclusion will be brought to market.”
For her part, Mariana Pinheiro, CEO of Experian Spanish Latam, stated that "we will provide the best global practices in credit evaluation and fraud prevention, so that APC Intelidat continues to support credit decisions in all sectors of the economy, and helping millions of Panamanians to access credit”.
The
statement adds that Experian promotes digital transformation, process
automation and market innovation, which will help Panamanians access credit
easily and safely, and will offer financial institutions and companies
information to monitor the growth of their businesses leveraging national
economic development.