RSM Tenon fire sale continues

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Robert Lovell
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Top 10 firm RSM Tenon has signed agreements with Grant Thornton and Saffery Champness for the disposal of its Individual Voluntary Arrangement (IVA) business and Film & TV Unit respectively.

GT signed a binding agreement at the end of September to acquire Tenon’s personal insolvency division for £7m, after costs and post completion adjustments.

The deal for the Manchester-based IVA unit is expected to go ahead on or before 5 October and contains customary warranties, indemnities and termination rights.

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