It is thought that the agreement includes the purchase of Andersen consulting units in 23 countries for a cash deal of around $284m.
KPMG also hope to eventually acquire the lucrative Andersen US consulting business, which accounts for up to half of worldwide revenues of $1.4bn. Any purchase of the US business will, however, be contingent on the satisfactory resolution of the potential legal claims facing its parent Arthur Andersen LLP. The firm is currently standing trial in the US on obstruction of justice charges for its audit work at failed energy giant Enron.
The current deal will only go through if 90% of the partners in each Andersen practice involved voted in favour.
KPMG Consulting, which spun off from its audit parent last year, is believed to have signed a letter of intent to acquire the majority of Andersen Worldwide's consulting business.
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