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Veda sold to US credit reporter

Veda sold to US credit reporter

Vijay Cugati

Two global firms have advised on the acquisition of Australian credit information provider Veda to US-based Equifax.

Firms: Allens (Equifax); Herbert Smith Freehills (Veda Group Ltd)

Deal: Equifax acquired all the shares in Veda.

Value: Undisclosed

Area: M&A

Key players: The Allens team was headed up by Vijay Cugati, with the support of partners Tom Story, Gavin Smith and Kim Reid; managing associates Chris Blane and Valeska Bloch; associates Paul Dawson, Daniel MacPherson and Tom Griffin; and lawyers Georgina Herring, Philippa Abbott and Kimberley Chikitch.

Deal significance: Equifax acquired all the shares in Veda through a scheme of arrangement.

The company made an initial approach to Veda regarding the transaction in September 2015, and the parties entered into a scheme implementation deed in November that year.

The scheme was approved by shareholders and implemented on 25 February.

“The deal reinforces Equifax's strategic focus to be a leading global information solutions provider and allows Equifax to enter into an important new region with the proven strength of the Veda management team,” according to a statement from Allens.

 

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