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PwC spin-off Vialto to restructure $1.5 bln debt after cost overruns, FT reports
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PwC spin-off Vialto to restructure $1.5 bln debt after cost overruns, FT reports
Sep 13, 2024 2:33 PM

Sept 13 (Reuters) - Global tax and immigration

consultancy firm Vialto, which used to be part of PwC, is

planning to restructure $1.5 billion of debt loaded onto the

business in a private equity buyout after running into financial

difficulty following its separation from the Big Four firm, the

Financial Times reported on Friday.

The firm is in talks with creditors, including Pimco and

Blackstone, to reorganise its capital structure after

cost overruns caused by rating agency downgrades, the newspaper

reported.

PwC sold its global mobility business to U.S. private equity

firm Clayton, Dubilier & Rice in 2022 in a $2.2 billion deal to

raise capital to invest in faster-growing areas of its

consulting business, the report said. The firm was renamed to

Vialto after the buyout, it added.

Vialto could not be reached for comment, while Blackstone

and Pimco did not immediately respond to Reuters' requests for

comment.

Vialto works with firms to provide global mobility, tax and

immigration solutions that enable cross-border operations,

according to its website.

(Reporting by Angela Christy in Bengaluru; Editing by Mrigank

Dhaniwala)

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