Financial terms were not disclosed.
Atlanta-based Equifax (NYSE: EFX) acquired 70 percent of the total shares outstanding from Credit Report's management and other individuals, bringing total ownership to 95 percent. Equifax started Credit Report C.A. Buro de Informacion Crediticia in 2003 with members of the Ecuadoran financial community.
Consumer lending in Ecuador grew about 15 percent in 2007.
"Following our additional investment in Credit Report, we plan to introduce more products and services into the marketplace through our successful program of product transfer among Equifax companies in Latin America and the rest of the world," said Rudy Ploder, president of international for Equifax.
Equifax now operates in 14 countries in North America, Latin America and Europe, and recently announced its intent to enter India and Russia pending regulatory approvals.
news source : http://www.bizjournals.com/atlanta/stories/2008/05/12/daily48.html
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