The deal will be the most significant disposal so far by one of the big four accountancy firms, Sky News learns.
The shake-up of Britain’s big four audit firms is to continue in earnest when Deloitte unveils the sale of its restructuring arm to Teneo, a strategic consulting firm which advises many of the UK’s biggest companies.
Sky News has learnt that Teneo, which is backed by the private equity firm CVC Capital Partners, is in advanced talks to acquire the Deloitte business, which has been acting as administrator to the former retail empire of Sir Philip Green.
The deal, which analysts said was likely to cost Teneo “in the low hundreds of millions of pounds”, will represent the most significant disposal to date of a subsidiary by one of the major accountancy firms as profound reforms of the audit industry beckon.
Read more at: Sky News
By Mark Kleinman
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Tagged Takeover
