BearingPoint inches closer to finalizing deals with PwC and Deloitte

by Editor 4/20/2009 4:42:00 PM
Consulting firm BearingPoint has signed definitive agreements with PricewaterhouseCoopers, under which PwC will buy a portion of BearingPoint’s Commercial Services practice and related Global Delivery Centers in North America. The deal is worth $25 million.

The acquisition is expected to be complete by June 30, subject to the satisfaction of customary closing conditions and the rules of the bankruptcy court. This means that, if BearingPoint gets a better offer, it must consider it and get the court's approval.

On March 23, BearingPoint revealed a similar agreement with Deloitte, under which it would sell a portion of its Public Services practice in North America for $350 million. The acquisition was approved by the court on April 17, also subject to the satisfaction of closing conditions.

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