Grant Thornton weighs strategic options for India unit

Grant Thornton International is presently assessing assorted strategical possibilities for its Indian unit, reported Bloomberg, citing a elder enforcement based successful India.

These options see selling a number involvement oregon merging the Indian operations with Grant Thornton’s businesses successful either the US oregon Europe.

In an interrogation to Bloomberg in Mumbai, Grant Thornton Bharat caput Vishesh Chandiok said: “We person the accidental to either align to GT’s planetary PE-backed level oregon to rise backstage equity superior directly.”

He besides highlighted involvement from buyout firms successful nonrecreational services.

Preliminary talks are reportedly underway with New Mountain Capital, which is progressive with Grant Thornton’s US operation, and Cinven, an capitalist successful the firm’s European business, Chandiok added.

Chandiok noted that the result of immoderate deal, whether a involvement merchantability oregon a merger, would question to worth the Indian portion astatine much than $2bn.

He further stated that successful the lawsuit of a merger, the Indian entity is seeking to clasp the largest share.

Chandiok stated that the institution is actively exploring caller opportunities arsenic portion of its ambition to go a planetary leader. This aligns with the Indian government’s imaginativeness of processing accounting and consulting firms that tin vie with the Big Four—Deloitte, Ernst & Young, KPMG, and PricewaterhouseCoopers.

Grant Thornton’s Indian subdivision delivers audit, advisory, taxation and regulatory services and employs much than 12,000 radical crossed 28 sectors.

Grant Thornton Bharat LLP is registered nether the Indian Limited Liability Partnership Act and has its office astatine New Delhi.

It operates arsenic a subordinate steadfast of Grant Thornton International Ltd (GTIL).

Each GTIL subordinate operates independently.

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