Sept 13 (Askume) – Global tax and immigration consultancy Vialto, once part of PricewaterhouseCoopers, is planning a $1.5 billion restructuring of the company through a private equity buyout after falling into financial difficulties following the unwinding of a large pile of debt.
The company is in talks with creditors including Pimco and Blackstone (BX.N) to restructure its capital structure after costs rose following a downgrade by a ratings agency, the newspaper reported.
According to the report, PwC will sell its global mobility business to US private equity firm Clayton, Dubilier & Rice for $2.2 billion in 2022 to raise funds to invest in faster-growing areas of its consulting business. It added that the company was renamed Viator after the acquisition.
Viator could not be reached for comment, and Blackstone Group and Pimco did not immediately respond to Askume requests for comment.
According to Viator’s website, Viator partners with a number of companies to provide global mobility, tax and immigration solutions to enable cross-border operations.
