Union Bank of India and Bank of India have sold their stakes in TransUnion CIBIL to TransUnion International for Rs381.24 crore. The banks each held a 5% stake. After this stake sale, TransUnion International will hold 92.1% in Cibil. The rest of the shares are owned by Aditya Birla Trustee Co, India Alternatives Private Equity Fund and India Infoline Finance. Banks have been selling their non-core assets to improve up their capital base. In the September quarter, Bank of India sold its 18% stake in Star Union Daiichi Life Insurance to Life Insurance Corp earning Rs495 crore in pre-tax profit.
