Contact:
Dave Mooney
Public Relations, Equifax
404-885-8117 (o)
Equifax Increases Ownership In Peru's Largest Information Company
ATLANTA, April 29, 1998 -- Equifax today announced that it has increased its ownership in Infocorp S.A. to 51%. Infocorp is Peru's largest provider of consumer and commercial credit information.
Equifax launched Infocorp S.A. in 1995, through Equifax DICOM, its wholly owned company in Santiago, Chile. Banco de Crédito del Peru and Banco Wiese, the two largest commercial banks in Peru, which have been partners from the beginning, will remain with a combined 49% share. Terms of the transaction were not disclosed.
"Equifax's increased investment in Infocorp S.A. demonstrates our continuing commitment to facilitate commerce in Peru and the region," said William R. Phinney, executive vice president and group executive, Equifax Latin America.
According to Sergio Málaga, chairman of the board of Banco de Crédito del Peru, "It is extremely important to have Equifax more involved in the operation and planning of the company."
Infocorp, the largest company of its kind in Peru, provides services to financial institutions, retailers and the service industry for evaluating credit risk in the Peruvian marketplace. Equifax will continue to expand the services Infocorp provides with new information sources, technology and enhanced distribution.
Equifax's worldwide knowledge-based information, transaction processing, consulting and software businesses are designed to bring buyers and sellers together, thus changing the shape of global commerce. Equifax serves the banking, financial, retail, credit card, telecommunications/utilities, automotive, government and health care industries. It is a leading supplier of business information solutions in Canada, the UK and Latin America. Equifax operates in 17 countries with sales in more than 40 countries. Founded in 1899 in Atlanta, Equifax (NYSE: EFX) today has 10,000 employees around the world. Revenues for the 12 months ended March 31, 1998, were more than $1.4 billion. Visit the company's Internet web site at http:/www.equifax.com.