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Deloitte expands as PwC Maldives, Sri Lanka network firms exit - memo

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Accounting giant Deloitte is acquiring some of rival PricewaterhouseCoopers' (PwC) Maldives and Sri Lanka network firms, according to a Deloitte memo seen by Reuters, strengthening the company's presence in the South Asia region.

After the deal, one of the largest such combination deals in the region, Deloitte will have 28 partners and 800 people, a person with direct knowledge of the matter said.A Deloitte spokesperson confirmed the deal but did not disclose financial or other terms.

PwC Sri Lanka and Maldives also confirmed the Deloitte deal in a separate memo sent to some clients seen by Reuters. We are "committed to effecting a seamless transition as we prepare to join Deloitte," the memo said."This is a transformative chapter in our history and marks a strategic leap forward," Deloitte South Asia CEO Romal Shetty said in the memo.

 

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