SORAINEN Estonia advised Creditinfo Group on acquisition of Estonian credit bureau Krediidiinfo from Experian. Krediidiinfo has been operating since 1993 and is engaged in corporate economic and financial data collection, processing and analysis. Hosting Estonia’s largest corporate and private database, Krediidiinfo currently has more than 16,000 companies, both domestically and abroad, utilising their credit reporting services.
Mr Hakon Stefánsson, Chief Operations Officer (COO) of Creditinfo Group advised, “This acquisition is a strategic investment for Creditinfo and plays an important role in creating a Pan Baltic credit bureau service. Creditinfo is the sole shareholder of Creditinfo Lithuania and a minority shareholder in AS Kredîtinformâcijas Birojs Latvia where banks hold the majority of the shares. This acquisition will enable us to speed up the Baltic expansion, while also providing us with indispensable knowledge of local specifics through the existing employees.
Mr. Stefánsson added, “Creditinfo will continue to deliver an effective Credit Bureau service, whilst providing new ideas and best practice which can be implemented by the customers to provide effective and efficient solutions for their customers. We will actively bring greater structure and strategic direction with the aim of further increasing the stability of the Estonian financial system and stimulating investment and financial inclusion, to create an environment in which the Estonian lenders can provide improved facilities for all borrowers, ranging from small enterprises and micro enterprises. Creditinfo will grow the business in Estonia by introducing various value added products and innovative solutions.”
The SORAINEN team was led by partner Toomas Prangli with senior associates Paul Künnap and Tanel Molok.