Private equity group Allegro Funds is in talks to buy PwC’s government consulting business as well as its healthcare and education operations, as the fallout of the firm’s tax leaks scandal continues.
PwC had ring-fenced its government consulting business after revelations earlier this year that its head of international tax, Peter Collins, had leaked confidential government information to other staff at PwC and the firm’s clients.
People with knowledge of the deal confirmed PwC was in talks with Allegro’s partners in an attempt to strike a deal to further safeguard the business from the fallout of PwC’s ongoing issues.
The deal was still in the early stages of negotiations, but is expected to include almost 10 per cent of the firm’s existing staff cohort, or several hundred staffers.
News of the potential transaction came as the Australian Securities and Investments Commission told a Senate committee it was …