Deloitte To Buy Largest BearingPoint Unit For $350M

Law360, New York (March 24, 2009, 12:00 AM EDT) -- BearingPoint Inc. has reached an agreement to sell a major portion of its public services unit to Deloitte for $350 million, a key part of its plan to sell most of the company while under Chapter 11 protection.

The bankrupt consulting firm also said it had signed a nonbinding letter of intent to sell a substantial portion of its North American commercial services business, including its financial services segment, to PricewaterhouseCoopers LLP for $25 million.

The public services unit is BearingPoint's largest business unit. The company...
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