News Formal

EY’s consulting business struggled after its ‘value destroying’ sale

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 90%

Philippines News News

Philippines Philippines Latest News,Philippines Philippines Headlines

The sale of EY’s consulting business to Capgemini in 2000 was a ‘value destroying’ move, according to former leaders at both firms.

The sale of EY’s consulting business to French IT services company Capgemini in 2000 was a “value destroying” move, with culture shock and an unexpected economic downturn leading to mass job cuts less than two years after the deal, according to former leaders at both firms.to advise on a possible listing or sale of its consulting business.The troubled aftermath of the sale offers lessons for EY’s current partners as they contemplate splitting the firm.

An article from the Information section of January 3, 2002, edition of The Australian Financial Review.The Australian Financial Review& Another former EY and Capgemini partner said the deal had been “value destroying” for the shareholders in the French company. However, the terms of the deal dictated that only a portion could be sold when the deal was struck, with the remaining unable to be sold for more than four years.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

🤔

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in PH

Philippines Philippines Latest News, Philippines Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bloodbath: Almost $8b in value wiped from ASX listed media stocks in 2022Shares in ASX-listed media companies have taken a nosedive due to rising interest rates and fears of a recession. having maxed out the credit card and the bills keep pouring in there is no choice but to tighten the belt and eat baked beans for a good while ,recession and austerity a legacy of the lnp ,
Source: smh - 🏆 6. / 80 Read more »

Bloodbath: Almost $8b in value wiped from ASX listed media stocks in 2022Shares in ASX-listed media companies have taken a nosedive due to rising interest rates and fears of a recession.
Source: theage - 🏆 8. / 77 Read more »

Bloodbath: Almost $8b in value wiped from ASX listed media stocks in 2022Shares in ASX-listed media companies have taken a nosedive due to rising interest rates and fears of a recession. having maxed out the credit card and the bills keep pouring in there is no choice but to tighten the belt and eat baked beans for a good while ,recession and austerity a legacy of the lnp ,
Source: smh - 🏆 6. / 80 Read more »