Axis Bank to sell 1.4 cr shares to GUS

Axis Bank on Friday said it has signed an agreement with GUS Holdings BV to sell 1.40 crore equity shares (10 per cent of total outstanding shares) of ₹10 a share face value of Experian Credit Information of India. Gus Holdings BV will buy the shares at ₹45.7 a share, resulting in a total cash consideration of ₹64 crore. The indicative time for completion of the transaction is June 2017. Shares of Axis Bank closed at ₹490.80, down 1.65 per cent, on the BSE.