Accenture eyes sale of Chinese operations for up to $1.5bn

Consultancy giant Accenture is eyeing a potential sale of its Chinese business operations for up to $1.5bn. The world s largest publicly traded IT consultancy has hired JPMorgan to work on a strategic review of its Chinese business after receiving unsolicited interest in it over the past year, the Financial Times reported. Accenture s Greater China unit may be valued at up to $1.5bn, the report added. The review is not guaranteed to result in a transaction. The sale is expected to draw interest from private equity groups and a small collection of strategic buyers. The consulting firm is anticipated to potentially retain a significant majority stake in the Chinese business. Accenture s Greater China operations include mainland China, Taiwan, and Hong Kong, according to the firm s website. The consulting giant operates across 120 territories globally, and its wider Asia-Pacific business made approximately $10bn in revenues last year. Potential sale follows share hike