Venture Capital
Private Equity

Mergers & Acquisitions | 13 February 2007

Ambit RSM merges tax practice with PriceWaterhouseCoopers

by Sanath Kumar Shetty
Ambit RSM merges tax practice with PriceWaterhouseCoopers
Share on Social Media Email Facebook Twitter Linkedin

Indian accounting firm Ambit RSM Private Limited and global accounting major PriceWaterhouseCoopers (PwC) are merging to form India's largest accounting firm with a total staff strength of around 4000 people. The deal size has not been disclosed. RSM Advisory Services Private Limited, the taxation advisory arm of Ambit RSM Private Limited, would merge with PwC's tax practice effective April 1; the combined operations would be under the common brand of PwC. RSM managing partner Ashok Wadhwa will not join the combined firm and will continue to manage the Ambit group of businesses. The Ambit Group comprises of @AmbitCorporateFinance, Ambit Capital and the new joint ventures of Ambit with TV18 and Centurion Bank of Punjab for online broking and with Nikko Asset Management for asset management business in India. Current revenues of PwC are at about Rs. 650 crores and would scale up to Rs. 800-900 crores post-merger. RSM has some large clients such as General Electric, Wal-Mart, Microsoft, Sony, British Airways, Bayer Group, Visa, Dell Computer, and in India companies from the Tata Group.

Read the article in The Economic Times.
Related Post:
Ambit RSM up for sale; may tie with UK-based accounting firm BDO International

Norway-based Orkla Foods to buy MTR Foods for $100 mn

Norway-based Orkla Foods to buy MTR Foods for $100 mn

As reported earlier, Orkla ASA, the $8.8 bn, Oslo-based diversified conglomerate with interests ranging from branded foods to finance, will buy MTR Foods for $100 mn deal. The deal will see the exit of MTR’s current investors and private equity firms JP Morgan Partners and the Singapore-based Aquarius India Fund.


Navayuga Plan To Sell Stake In Its Power Assets

Navayuga Plan To Sell Stake In Its Power Assets

Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.

DealCurry Timeline
TL Home Search New Keet
A 314, 3rd Floor, AntopHill Warehousing Company,
Near Dosti Acres
Mumbai 400037
Copyright © EagleEye Research & Media Pvt. Ltd. 2009 All Rights Reserved - Interactive multimedia analysis platform for financial markets.
Site map |Terms of Use |Privacy Policy
DealCurry tracks financial and corporate markets for events, interprets and integrates the information in our platform, providing premium data, news and analytics. DealCurry provides comprehensive coverage of the capital markets through an intuitive, user-friendly interface.