PwC May Not Sell Financial Unit
Big Five firm PricewaterhouseCoopers is believed to be backing off on previously announced plans to sell its Financial Advisory Services unit. The unit has been for sale for a year but has had no takers.
The financial business is reportedly worth $1 billion, and an undisclosed buyer is apparently negotiating with PwC to consider the purchase of approximately one-fifth of the unit, presumably the portion dealing with corporate finance and corporate valuations.
PwC has been struggling with decisions for the past year to sell or separate portions of its business and has recently announced an intent to consider various options for selling or restructuring its consulting unit.