Acquisition to Bolster Credit-Reporting Efforts in Central America
CHICAGO, Feb. 23 /PRNewswire/ -- Central America's credit granting
industry is gaining an experienced global partner that will ultimately boost
their lending-decision power with the minority ownership acquisition of Costa
Rica's Credi Comer by Trans Union LLC (TU).
Chicago-based TU, a worldwide provider of information and decision
processing services, announced the purchase today, providing it with a
minority interest in Credi Comer, which operates Costa Rica's largest credit
information database. Headquartered in the capital city of San Jose, the
remaining shares of the Credi Comer are owned by a group of business and
banking executives.
As its first foray into Central America, Trans Union will build on similar
ventures launched in Mexico, Chile and Colombia, where it has played an
integral role in developing viable systems of credit reporting.
"We're confident that our technical expertise and global experience will
enable us to further develop and refine Costa Rica's system of credit
reporting," said Ralph Sorice, president of Trans Union International, Inc.
"In time, we believe a successful foundation in Costa Rica will be of interest
to other Central American economies."
Credi Comer will rely on TU's extensive analytical and technological
capabilities to develop credit scoring systems, fraud and bankruptcy models
and other decision-support tools. While the initial focus is on strengthening
credit reporting in Costa Rica, a secondary goal aims at exporting programs
and services to other lending institutions throughout Central America.
"We're very pleased to form an alliance with Trans Union, whose abundance
of international experience will ultimately lead to better products for our
customers," said Manrique Robert, president of Credi Comer. "This
relationship will strengthen our efforts to build a credit-reporting database
and attract other nations throughout Central America to adopt the systems
we've established to make better lending decisions."
About Trans Union
Trans Union is a leading global information company. The company provides
a broad range of industries with products and services that include credit
reports, risk scoring models, target marketing systems, pre-employment
evaluation reports, skip tracing and search tools, customized lists, as well
as other information-based products. Trans Union has operations in Puerto
Rico, Canada, Mexico, Costa Rica, Peru, Chile, Spain, Italy, South Africa,
Kenya, and Hong Kong. In the U.S., Trans Union serves all 50 states through
its own sales offices and independent credit bureaus. For more information
about Trans Union's products or services, visit the company on the Internet at
http://www.transunion.com .
About Credi Comer
Established in 1995, Credi Comer is the leading information company in
Costa Rica. Credi Comer specializes in credit investigations, database
information and collection of doubtful accounts. The company currently has a
wide variety of clients with a significant presence in the financial and
commercial sectors. The addition of a web site, as a channel to access credit
information, is expected to bring additional coverage in the region's rural
areas. For more information, contact the Credi Comer office at
011-506-256-2838 or by e-mail at sficorp@sol.racsa.co.cr.
SOURCE Trans Union LLC
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Related links:
http://www.transunion.com
CONTACT:
Colleen Martin of Trans Union, 312-466-8389;
or Scott Ablin of The Financial Relations Board, 312-274-2274,
for Trans Union LLC
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