Enento Group Oyj, a Nordic credit information provider, is exploring options including a potential sale amid takeover interest.
(Bloomberg) — Enento Group Oyj, a Nordic credit information provider, is exploring options including a potential sale amid takeover interest.
The Finnish firm is working with an adviser to weigh options after interest from US credit reporting company TransUnion and private equity firms including Apax Partners, according to people familiar with the matter. Deliberations are ongoing and there’s no certainty they’ll result in a transaction, they said.
After Bloomberg News reported the move, Enento said in a regulatory filing Thursday that it receives transaction proposals “from time to time,” and its board “considers and evaluates different alternatives carefully, with a view to safeguarding the interests of Enento Group and its shareholders.” A representative for Apax declined to comment.
Shares of Enento were down 1.1% at 1:39 p.m. Friday in Helsinki, giving it a market value of about €520 million ($564 million), after TransUnion said it’s not in “active discussions” with the Finnish company. Enento shares gained 10% on Thursday.
“As you would expect, from time to time, we receive inbound interest from companies and or their representatives,” TransUnion said in an emailed statement. “As we’ve stated publicly, we do not expect to make any significant acquisitions in 2023 as we integrate recent acquisitions.”
TransUnion made the statement after Bloomberg News reported that Enento had rebuffed a takeover proposal from the company. The US firm tracks the creditworthiness of hundreds of millions of people in more than 30 countries, providing this data to a range of industries in which financing is used when purchasing goods.
Enento traces its roots back to the early 20th century. The company offers a range of services to companies and consumers across the Nordic region, ranging from credit reports to market trends.
–With assistance from Vinicy Chan and Fareed Sahloul.
(Updates with Enento share movement in fourth paragraph.)
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