BusinessBusiness RecoveryKroll acquires Enron chief’s insolvency practice

Kroll acquires Enron chief's insolvency practice

Kroll Buchler Phillips' US parent, Kroll, has acquired US corporate advisory and restructuring firm Zolfo Cooper, founded by Stephen Cooper, the man currently heading the restructuring of Enron.

Link: Grant Thornton beat Kroll to football crown

The acquisition, announced yesterday in the United States, was made for approxiametly $153m (£97m) in cash and will create the largest independent global corporate recovery firm, according to KBP.

Following the acquisition, Simon Freakley, head of Kroll Buchler Phillips, will assume additional responsibility as head of Kroll’s new Corporate Advisory & Restructuring group. The new group includes the operations of Kroll Buchler Phillips, Kroll Zolfo Cooper, and Kroll’s restructuring specialists in Toronto, Canada.

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