You can't buy much for $1, except maybe a global company. Why PwC could be sold for less than the price of a stamp

By My Nguyen, Senior Lecturer in Finance, RMIT University

In a move that has taken the business world by surprise, PwC Australia this week offloaded its government consultancy business to Allegro Funds for just $1.

It’s what’s known as a peppercorn transaction.

Peppercorn transactions, which involve a minimal payment to fulfil the requirements of a legal contract, are not as unusual as they may seem.

They are used when companies seek to rid themselves of liabilities as well as opportunities.

PwC’s decision comes in the aftermath…

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