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)