Bank Of America Comments On Equifax Brazilian Merger

According to Bank of America, Equifax EFX announced that it merged its Brazilian business with the operations of Boa Vista Servicos, creating Brazil's second largest credit bureau. Bank of America said that the merger should allow the combined entity to better compete with market leader Serasa Experian and better positions EFX in the consumer credit channel, which should grow faster than commercial in the future. “We believe the deal makes strategic sense for EFX given likely cost synergies, faster time to market, more/richer data assets and a stronger competitive positioning. EFX will own 15% of the venture, with the opportunity and intent to acquire a controlling stake going forward.” Equifax closed yesterday at $36.80.