(Sharecast News) - PwC has disposed of its global mobility tax and immigration services business arm to CD&R in a $2.2bn takeover deal, the consultancy's largest sell-off in almost 20 years.
CD&R believes the business, which operates in roughly 40 territories around the world, to be well positioned to aide organisations through "more complex" compliance issues stemming from the resumption of travel.

Terms of the transaction were not disclosed but CD&Rsaid it expects the sale to close in the first half of 2022.

Following completion of the transaction, the unit will be rebranded and led by new chief executive Peter Clarke, the current global managing partner for global employee mobility at PwC, while the business' new chair will be CD&R partner Russ Fradin.

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