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DAC Beachcroft merges with Colombian alliance firm

DAC Beachcroft has merged with Colombian insurance firm De La Torre & Monroy Abogados Asociados and started trading as DAC Beachcroft Colombia yesterday (1 December). Having entered into a formal association with De La Torre & Monroy earlier this year (20 March 2013), DAC Beachcroft partners agreed the merger with a vote that closed on…

Ashurst advises on first German public takeover by Chinese state-owned company

Ashurst was among a raft of firms that have secured advisory roles in Chinese state-owned group Aviation Industry Corporation of China (AVIC)’s €320m acquisition of German listed company KHD Humboldt Wedag International AG (KHD). The Chinese group, which already indirectly owns a stake in German industrial-plant builder KHD, has submitted a voluntary public takeover offer…

Deloitte the winner in UK 200 audit race

Deloitte has emerged as the dominant player in the UK law firm audit market, new research by The Lawyer has revealed. Two-thirds of this year’s UK 200 top 30 firms are clients of Deloitte. The firm’s closest competitor in this group is Nexia Smith & Williamson, which in contrast to Deloitte’s 20 has just two…

Wragges and Lawrence Graham prepare for £170m merger vote

Lawrence Graham (LG) and Wragge & Co are in merger talks to create a £170m firm, partners were told today. Wragge & Co senior partner Quentin Poole confirmed the talks, stating: “We have been open about our strategy and the fact that we are looking at opportunities to strengthen our ability to serve clients in…

Dentons vote on McKenna Long tie-up expected next week

Dentons partners have until 14 November to vote on whether to merge with US firm McKenna Long & Aldridge. Board members at both firms have approved plans for the tie-up and have now asked partners to decide whether to complete the deal. Dentons could add 575 lawyers to its global presence, six months after the…

The China paradox

The actual number of foreign firms and their footprints in mainland China has gradually grown. According to China’s Ministry of Justice, the number of foreign firms’ representative offices by the end of 2012 stood at 228, double the 114 in 2003. “China’s legal market has grown substantially, and so has the demand for international legal…

Dhir partner Jay Cheema joins Clasis for int’l reach, to start energy-infra practice

Clasis Law has added an energy and infrastructure practice with former Dhir & Dhir Associates energy and infrastructure partner Jay Cheema, who joined the firm as partner in Delhi effective today. “I am both for oil and gold,” said Cheema, adding, “I only feel that this [practice area] is bound to grow both nationally as…

China: at the golden gates of wealth

As Clydes makes its China move, free trade zones clear way for deeper law firm links Clyde & Co did a ground-breaking deal in China last week. Through its Hong Kong arm the firm has established a joint venture with Chongqing-based West Link under the Mainland and Hong Kong Closer Economic Partnership Arrangement (Cepa). China…

Chinese government procures legal services

Public sector procurement is a hugely important source of income for many businesses – particularly in China. In 2012, government procurement across China was worth RMB1.4trn (£142bn), accounting for 11 per cent of China’s fiscal expenditure. But until recently, law firms were not a major beneficiary of China’s public spending. Last week’s news about the…

CC kicks off London managing partner hunt

Clifford Chance has kicked off the nominations process for the London managing partner elections ahead of the end of David Bickerton’s term in December. No date has been set for the vote but it is understood that the nominations committee has begun the ‘soundings’ process for candidates with partners invited to nominate themselves or put…