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PostSubject: BDO PETROBRAS BRAZIL   Fri Dec 29, 2017 8:37 pm

Acquisition The transaction shall consolidate the company as the fifth largest audit company in Brazil






BDO incorporates Baker Tilly´s operations



Fernando Torres





São Paulo



The audit and consulting company BDO will incorporate the major part of Baker Tilly´s operations in Brazil. The transaction, formalized this Friday, includes the São Paulo, Rio de Janeiro and Ribeirão Preto (SP) offices, which total an estimated turnover of R$ 33 million for this year and 250 professionals.



With the transaction, the company resulting from this business combination should end the year with nearly R$ 160 million in revenues and about 1.3 thousand professionals, as informed by the companies.



The merger shall consolidate BDO as the fifth largest company of the sector in the country, though in a far position from the other four big companies of the sector – PwC, Deloitte, EY, and KPMG – repeating the market situation globally.



"We are very pleased to add to our team competent professionals, who are recognized in the market, and we will have a good mix of young and more experienced personnel", said Raul Corrêa da Silva, Chairman and CEO of BDO.



According to the International Accounting Bulletin’s ranking, Grant Thornton held the fifth position until last year, with revenues of R$ 140 million – but the market considers that the most relevant portion of this revenue comes from its outsourcing division, with a small portion of auditing services.



Osvaldo Nieto and Ricardo Rodil, who were among the main partners at Baker Tilly in Brazil, will join BDO’s team. Eduardo Tavares is another partner from Baker Tilly that shall have a leadership position.





The negotiation does not foresee payment by BDO to Baker Tilly's team, but only the sum of operations. And since the weight of turnover contribution is close to 80%/20%, this division shall also represent the corporate structure and be reflected in the executive committee, as Rodil explained to Valor.
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