Credit check company to relocate to Dublin

CREDIT checking giant Experian is planning to move its corporate headquarters to Ireland later this year.

Experian’s owner, GUS plc, is planning to list the business on the London Stock Exchange in October. At that time the company will move its corporate head office from London to Dublin.

A spokesman for Experian in London could not say how many jobs the move would create. The company already has an existing business in Ireland.

The top management team, including the chief executive, are expected to remain at the company’s London office.

Moving the company’s base to Ireland will also have the effect of reducing Experian’s tax rate. The 12.5% corporation tax rate here is much lower than in Britain.

GUS plans to demerge Experian from its Argos and Homebase retail chains. Shareholders in GUS will receive shares in both Experian and Argos Retail Group.

Immediately following the demerger, it is expected that Experian will issue further shares to raise more than €1.3 billion.

An extraordinary general meeting of GUS shareholders to seek approval for the demerger will be held on August 29.

Earlier this month GUS posted strong first-quarter sales at its Argos stores and at Experian.

Experian employs around 11,000 people worldwide.