The AFR reports today
PwC has acquired tax advisory firm Greenwoods & Herbert Smith Freehills, a strategic purchase in which 15 tax partners and 50 staff will join the consulting giant’s financial advisory business in the middle of the year.
Greenwoods, which had a long-standing alliance with law firm Herbert Smith Freehills but is a separate business and legal entity, is “highly regarded” for providing taxation advice for ASX-listed and local and international businesses with interests in Australia.
The acquisition of Greenwoods will give PwC’s clients access to market-leading experts across taxation areas, said Pete Calleja, managing partner of PwC’s financial advisory business.
“Greenwoods is very highly regarded in the market for its M&A, infrastructure, real estate, financial services and high net wealth capabilities, and its partners and their teams will bolster PwC Australia’s broader financial advisory business”, he said.
Greenwoods were advisers last year to investment house AXA IM for its high-profile $775 million bid to take control of 24,000 hectares of pine plantations from US fund manager Global Forest Partners. That deal was the biggest timber transaction in the country for more than a decade.
Read more
