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    Deloitte partners in £100m buyout deal

    Deloitte partners in £100m buyout deal

    Almost 400 Deloitte & Touche partners are to share a £100m windfall from selling half of their Liberata stake to US private equity group General Atlantic Partners.

    Author Date published December 2, 2002 Categories

    Link: CSL spring flotation unlikely

    When Deloitte in 2000 spun out Liberata, formerly known as CSL, 93% of its shares remained in the hands of a trust held by the firm’s partners.

    Under the deal, expected to be announced today, General Atlantic Partners will subscribe for £60m new shares in Liberata and make an offer of up to £100m to buy half of its existing shares.

    The 387 Deloitte partners who hold these shares will each receive £258,000 on average, while some, including chief executive John Connolly, are set to receive more.

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