PwC may be called in to overhaul Ineos business plan

Ineos, the chemicals giant may call in experts from PricewaterhouseCoopers
after the company completes its a probe of its business plan.

The company is in the advance stages of talks with its bankers to waive
banking covenants on 5bn euros (£4.2bn) of loans until the second quarter of
2009, PwC may be appointed in an advisory capacity further down the line.

The firm may to take a look at its revised business model ‘towards the end of
the first quarter of 2009,’ a source close to Ineos said.

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