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PwC gets court approval for BearingPoint assets
May 29, 2009 / 12:51 AM / 8 years ago

PwC gets court approval for BearingPoint assets

NEW YORK (Reuters) - PricewaterhouseCoopers PWC.UL said on Thursday a U.S. Bankruptcy Court approved its purchase of significant portions of bankrupt computer services firm BearingPoint’s BGPTQ.PK North American and Shanghai, China assets.

The business advisory firm said it has agreed to buy BearingPoint’s unit in Bangalore, India in a separate transaction that did not require approval of the U.S. Bankruptcy Court.

It said all the transactions were agreed for a total of $44 million.

The BearingPoint North American assets include its commercial services segment while its Shanghai and Bangalore units are the associated global delivery centers.

PwC said the transaction for the North American unit is expected to close in June while closing dates for the two global delivery centers are expected to take place in the coming months.

It said upon closing of the deal PwC’s advisory practice will assume selected contracts and assets of BearingPoint.

In April a bankruptcy judge approved the sale of BearingPoint’s public services unit to accounting firm Deloitte LLP DLTE.UL.

Reporting by Yinka Adegoke; Editing by Richard Chang

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