Accenture looks to sell Chinese operations for up to $1.5 billion, FT reports (updated)
UPDATE 1-Accenture looks to sell Chinese operations for up to $1.5 billion, FT reports Adds details
Oct 18 (Reuters) - IT consulting firm Accenture ACN.N is looking to sell its Chinese operations for up to $1.5 billion, the Financial Times reported on Sunday, citing people familiar with the matter.
Reuters could not immediately verify the report.
Accenture has hired JPMorgan JPM.N to work on a strategic review of the China business after receiving unsolicited interest in the unit over the past year, the report added.
Accenture and JPMorgan did not immediately respond to Reuters' request for comment outside regular business hours.
The sale process is likely to draw interest from private equity groups and a small cluster of strategic buyers, the report said.
Accenture may opt to retain a significant minority stake in the business, the report added.
Accenture’s Greater China operations include Taiwan, Hong Kong and mainland China, according to its website.
The consultancy firm recently forecast full-year 2027 revenue growth between 3% and 6%, above analysts' estimates.
(Reporting by Nethra Sailesh in Bengaluru; Editing by Joe Bavier)
((Nethra.Sailesh@thomsonreuters.com))
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Accenture looks to sell Chinese operations for up to $1.5 billion, FT reports (updated)
Accenture looks to sell Chinese operations for up to $1.5 billion, FT reports