“With non performing assets-saddled banks trying to raise money from sale of non-core assets, global credit information company TransUnion has raised its stake in its Indian subsidiary Cibil to 77.1% by buying out ICICI Bank and Bank of Baroda’s holding in it.” reported Mint.

There were two separate related transactions, including Bank of Baroda’s 5 per cent stake purchase in Cibil, as well as the purchase of ICICI’s 6 per cent stake by Cibil.

TransUnion was advised by P&A Law Offices partner Anand Pathak, senior associate Romit Dey and associate Ishan Roy Chowdhury.

The ICICI and Bank of Baroda teams were advised in-house without external counsel, according to P&A Law Offices.