Overview of the Joint Venture
PwC India and PwC US have entered into a strategic joint venture, with PwC India holding a 49.9% stake and PwC US holding 51.1%. This collaboration marks a significant move in the professional services sector, aiming to leverage the strengths of both entities. JSA Advocates and Solicitors played a pivotal role in advising PwC India throughout this process.
Legal Representation
The JSA team guiding PwC India in this transaction was spearheaded by Lalit Kumar, a partner at the firm, alongside fellow partner Bharati Joshi. They were supported by Principal Associate Zarish Ali, as well as Associates Muskaan Gupta and Rahul Kapoor. The competition law aspects of the deal were managed by another team led by Partner Vaibhav Choukse, supported by Partner Ela Bali, Senior Associate Ishaan Chakrabarti, and Associates Aarathi R Menon, Yaatri Shah, and Priyanshi Jain.
Regulatory Approvals
Completion of the joint venture is contingent upon obtaining necessary regulatory approvals, including consent from the Competition Commission of India. The joint venture will integrate PwC India’s consulting operations with PwC US’s acceleration centers in India, with operational control residing with PwC India.
Strategic Importance
This merger signifies an important strategic initiative, enhancing advisory capabilities across two of PwC’s prominent markets. It reflects the increasing significance of India as a central hub for global talent, innovation, and Global Capability Centres. Additionally, it aligns with PwC’s broader goal of fostering a more globally cohesive consulting framework.
Business Scope
It is important to note that PwC India’s audit, tax, and transaction services, along with certain government advisory projects, are excluded from this joint venture.
More Read
For further details, you may access PwC’s official press release. Also, for those interested in publishing deals, columns, or press releases on Bar & Bench, a submission form is available on their website.
