Consultancy giant Accenture is considering a potential sale of its Chinese business operations, which could be valued at up to $1.5bn. The company has engaged JPMorgan to undertake a strategic review of the unit, according to reports.
The move follows Accenture receiving unsolicited interest in its Chinese business over the past year. The Greater China unit encompasses operations in mainland China, Taiwan, and Hong Kong.
While a sale is being explored, the review is not guaranteed to result in a transaction. Private equity groups and a limited number of strategic buyers are anticipated to show interest, with Accenture potentially retaining a significant majority stake.
The potential sale comes after Accenture's shares surged by over 22 per cent on 1 October, marking its largest one-day gain on record. This followed the release of its fourth-quarter results, which exceeded revenue targets despite concerns about AI's impact on the consulting industry.