PwC China Plans to Spin Off Cyber Security Arm: FT

PwC China plans to spin off Dark Lab in a private buyout deal, Financial Times reports, citing three unidentified people familiar with the process.

• PwC China’s board and Dark Lab’s management have been evaluating bids in recent weeks
  • No certainty of a deal
  • Deal could generate about HK$1b-HK$2b; final price still to be negotiated
• Deal has been marketed to private equity funds and investment banks for help with funding
• PwC declined to comment: FT

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Natalie Choy in Singapore at nchoy5@bloomberg.net

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