Accenture plans strategic review of Chinese operations

Summarised from 2 outlets · Updated 19 Oct, 06:19 · Archive

Accenture has hired JPMorgan to conduct a strategic review of its Chinese business after receiving unsolicited interest over the past year. The Greater China unit, covering mainland China, Taiwan and Hong Kong, may be valued at up to $1.5bn.

The review does not guarantee a transaction will take place. If a sale proceeds, Accenture is expected to potentially retain a significant majority stake, with private equity groups and a small collection of strategic buyers anticipated to show interest.

At a recent investor event, Accenture's chief financial officer Angie Park said the firm has a record of 'exiting businesses, offerings, countries, contracts that no longer meet our strategic or return thresholds'. Accenture's Asia-Pacific business generated approximately $10bn in revenues last year. The company operates across 120 territories globally.

How it is being reported

• Accenture eyes sale of Chinese operations for up to $1.5bnConsultancy giant Accenture is eyeing a potential sale of its Chinese business operations for up to $1.5bn. The world’s largest publicly traded IT consultancy has hired JPMorgan to work on a strategic review of its Chinese business after receiving unsolicited interest in it over the past year, the Financial Times reported. Accenture’s Greater China unit [...]City AM · 19 Oct, 06:00
• Accenture looks to sell Chinese operations for up to $1.5bnShares in world’s largest IT consultancy have fluctuated in recent months over questions about the impact of AIFinancial Times · 18 Oct, 11:00

In this story: Accenture · JPMorgan · China · Greater China · Angie Park

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