By Oliver Griffin 
 

Experian PLC (EXPN.LN) said Monday it has agreed to buy Compuscan, a South African credit bureau and information-services company, for around $263 million.

The U.K. consumer credit reporting agency said that by combining forces with Compuscan it will be better positioned to serve people and businesses in Africa.

Compuscan holds credit information on 26 million people and 200,000 businesses in South Africa, representing approximately 56% of the population, Experian said.

Experian said the transaction is subject to approval by the Competition Commission in South Africa.

The deal is expected to complete during the first quarter of Experian's financial year ending March 31, 2020, the company said.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

 

(END) Dow Jones Newswires

December 10, 2018 08:58 ET (13:58 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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