M&A

M&A

Big Four captive divestiture: KPMG US, UK units buy 33% stake in India’s KGS for $210-M

Economic Times  

The US and UK entities of KPMG International paid USD 210 million (about INR 1,808 crore) to jointly acquire a 33% stake in KPMG Global Services (KGS), from the professional services firm's member entity in India. The deal marks the first divestiture of a Big Four captive in India.KGS is a global delivery arm providing back-end and support services to 50 KPMG member firms worldwide, including audit, consulting, tax, and technology functions.KPMG India partnership, KPMG US, and KPMG UK International earlier held 33% stakes each in KGS. The centre was managed by the Indian partnership. This will henceforth be controlled by the overseas entities.