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EY’s debt soared by $700m after failed Project Everest split scheme

EY took on more than $700m in debt as it pushed forward break-up plan

EY's planned split was codenamed Project Everest
EY's planned split was codenamed Project Everest Photo: Photo by Gary Hershorn/Getty Images

EY took on more than $700m in debt as it tried to engineer a split it codenamed Project Everest.

The Big Four accountancy firm’s leadership tried last year to divide the firm into two separate businesses. However, the firm scrapped its plans last April after opposition from senior partners in the US.

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