Deloitte UK has been forced to drop plans to sell its restructuring practice after its global parent company vetoed the disposal on the grounds that it could have an adverse impact on the rest of the firm, according to three people with knowledge of the matter.
The Big Four accounting firm held a call with senior members of its restructuring and insolvency unit just two weeks ago to discuss approaching potential buyers, including rival professional services firms and private equity houses.
The proposed sale was expected to bring in hundreds of millions of pounds that would have mitigated a drop-off in some consulting work during the pandemic. It would also have reduced the risk of conflicts of interest for restructuring partners whose a…
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