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Creditinfo buys Estonia’s Krediidiinfo
BC, Vilnius, 20.01.2016.
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Print versionCreditinfo, the Icelandic-owned operator of a chain of credit bureaus, has entered the last of three Baltic countries through acquisition of Estonia’s Krediidiinfo at a higher-than-market price and plans to harmonize the services provided in all three countries, the Verslo Zinios business daily reports on January 20th, cites LETA/BNS.
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“The usual price to pay in the Baltic countries region is 4 to 6 times the EBITDA. In this case, the price was higher. Of course, we considered a possibility to start from scratch since we have solid reputation in the financial sector. However, we’ve chosen another way: made an offer, and the Baltic region has become less important for this international player,” Andrius Bogdavonicius, CEO of Creditinfo Lithuania, told the daily.
Now Creditinfo would seek to harmonize the services provided in all three Baltic countries, he added.
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