Schufa homeowners have stated they wish to promote a German credit standing firm
Schufa Holding AG, the German equal of US credit standing agency FICO, is contemplating a sale, folks accustomed to the matter say.
The homeowners of the corporate, together with Deutsche Financial institution AG and Commerzbank AG, have already held talks with non-public fairness suitors EQT AB and Hellman & Friedman on a possible deal, the folks stated. Schufa may very well be valued at over 2 billion euros ($ 2.3 billion) in any sale, the folks stated, asking to not be recognized whereas discussing confidential info.
Discussions a couple of sale have been sparked by an preliminary strategy to EQT, folks stated. The talks are of their early phases and there’s no certainty that they are going to lead to a transaction, based on folks. A few of Schufa’s homeowners have had talks with potential consumers previously, to no avail, one of many folks stated.
Representatives from Commerzbank, Deutsche Financial institution, EQT and Schufa declined to remark, whereas a Hellman & Friedman spokesperson couldn’t be reached for remark.
Schufa, based mostly in Wiesbaden, Germany, is a family title in Europe’s largest financial system, offering credit score scores to folks in search of finance for all the pieces from automobiles to cell telephones. It was based in 1927 to assist companies share their cost experiences with their prospects.
The chance for an organization that holds delicate info to turn into non-public fairness property may very well be of concern to German residents and politicians, who’re typically involved in regards to the possession of their information. Whereas non-public fairness traders play a serious position within the German financial system, they haven’t all the time been standard amongst politicians nationwide.
EQT has already invested in Germany, with its portfolio corporations together with a broadband supplier Deutsche Glasfaser and producer of hand sanitizers Schuelke. In In December, he agreed to promote Germany-based services supervisor Apleona Group GmbH to PAI Companions. The corporate has been some of the energetic non-public fairness acquirers in Europe over the previous 12 months, based on information compiled by Bloomberg.
The Schufa group serves greater than 67 million Germans and 6 million corporations and generates a turnover of round 212.2 million euros, based on its web site. It’s owned by industrial, financial savings and mutual banks in addition to some retail corporations. Since 2004, Schufa has additionally provided industrial info on corporations.
– With the assistance of Steven Arons
(Add particulars on EQT investments in penultimate paragraph)