Friday, May 29, 2009

PwC Buys BearingPoint Commercial Services, Pays $19 MM More

Another development in the BearingPoint bankruptcy saga, after the finalization of the Federal Services unit sale to Deloitte for $350 million, the bankruptcy court has authorized the sale of the

North American Commercial Services business, including its Financial Services segment and
associated Global Delivery Centers, to PricewaterhouseCoopers (PwC), the highest bidder for this service line. Under the terms of its winning bid at an auction, PwC will acquire the majority of BearingPoint’s Commercial Services unit for $44 million, subject to contractual adjustments. Subject to customary closing conditions, the sale is expected to be finalized by the end of June...

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