Tax time at BGH | Pharma giant’s fran chisees mull sell-down | LHC’s investor let ter

Good evening,

BGH Capital can’t keep its mitts off PwC, the big-four consultancy that has come within the purview of Australia’s cashed-up private equity players.

In the weeks after PwC explored selling the insolvency arm of its deal practice to public relations and advisory company Teneo, Street Talk understands BGH Capital had its own crack, lobbing an offer for the firm’s private tax business.

In an email sent by PwC chief executive officer Kevin Burrowes on Monday evening, seen by Street Talk, partners were told the firm had received a non-binding indicative expression of interest from a private equity firm regarding its private tax division.

After reviewing the offer and commencing a review, PwC formally declined the EOI and reiterated “the business is not for sale”.

Street Talk can reveal the owners of some of Chemist Warehouse’s largest franchisees have been in discussions with a handful of ECM teams as they mull selling down their shares after the $30 billion merger comes into effect on February 12.

Click here for the latest equity market wrap.