Allens advises Equifax on its acquisition of Veda

Allens has advised Equifax Inc, a leading global information solutions provider, on its acquisition of Veda Group Limited, the leading provider of credit information and analysis in Australia and New Zealand.

Equifax acquired all of the shares in Veda by way of a scheme of arrangement. Equifax made an initial approach to Veda in relation to the transaction in September 2015 and the parties entered into a scheme implementation deed in November 2015. The scheme was overwhelmingly approved by shareholders and implemented on 25 February 2016.

The acquisition provides Equifax with a market-leading presence in Australia and New Zealand and opens an exciting period of opportunity for both Equifax and Veda.

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.

The transaction will also be viewed as a positive development for Veda's customers, who will benefit from Equifax's global experience and capabilities as Australia transitions to comprehensive credit reporting.

Lead Partner Vijay Cugati said Allens was delighted to be involved in the transaction, which involved a comprehensive due diligence process and regulatory engagement in both Australia and New Zealand.

'We have been very pleased to work alongside the Equifax team. This is a significant transaction for Equifax and a further example of Allens' substantial cross-border M&A expertise.'

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