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Report: Lane Clark & Peacock among bidders for KPMG's pensions advisory unit

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Report: Lane Clark & Peacock among bidders for KPMG's pensions advisory unit

British financial consultancy firm Lane Clark & Peacock LLP is one of the few bidders that have made it to the second round of an auction for the pensions advisory division of accountancy firm KPMG International, Sky News reported, citing sources.

Lane Clark & Peacock is planning on spending £200 million for the unit, which has approximately £50 billion under advice, the report said.

The auditor revealed its intention to explore a sale for this unit in June after receiving multiple unsolicited offers, the report noted.