New York | Senior partners at accounting firm BDO USA are in line for a big windfall after the arrangement of a $US1.3 billion ($2 billion) debt deal with Apollo Global Management, according to people familiar with the situation.
The private capital group is providing $US1.3 billion in debt financing to fund purchases of shares by a new employee trust, as well as to refinance some of BDO USAs existing obligations.
The trust will use a portion of the funds to buy a minority stake in the firm from existing partners, the people said.
The financial restructuring comes after BDO USA decided to abandon the traditional partnership model used by other large accounting firms in search of tax adva…
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