Dentons, China's Dacheng Merge to Form World's Largest Law Firm
Geann Pineda | | Jan 23, 2015 12:46 PM EST |
(Photo : Wikipedia) Dentons is a multinational law firm founded in March 2013 by the merger of SNR Denton, Fraser Milner Casgrain and Salans.
Global law firm Dentons is merging with China's Dacheng Law Offices, in a move that will create the world's largest law firm by lawyer count.
Reports say, partners from both firms have approved the merger, but Chinese regulators have yet to approve the deal. A spokesperson for Dentons said, China's Ministry of Justice is expected to sign off on the merger next week. This is the second time a global firm and a domestic Chinese firm will join forces.
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The newly created firm would employ 6,600 lawyers from some 50 countries, dwarfing the current largest firm Baker & McKenzie, that has 4,425 lawyers. More than half of the lawyers would come from Dacheng.
Dacheng, now China's largest firm, was founded in Beijing in 1992. It has a lawyer count of 4,000.
Dentons was formed in March 2013, through a merger of Canadian business law firm Fraser Milner Casgrain, Anglo-American law firm SNR Denton and French firm Salans. The firm handles mainly mid-market deals. It is also known for its strength in handling Eastern European real estate deals. Its clients include Skanska Property Poland and Starwood Capital.
The merger would be structured through a Swiss Verein arrangement. This means, its would have several partnerships operating under a common brand. That structure is needed as foreign firms are not allowed to advise clients on Chinese law.
A Bloomberg report said, Dentons Global Chairman Joe Andrew and Global Chief Executive Elliott Portnoy will keep their positions at the new firm, while Dacheng's founding partner, Peng Xuefeng, will serve as the chairman of the global board. Portnoy said, the firm aims to provide superior service to clients in China than any of its international competitors can.
Tagsdentons, dacheng law, law firm, lawyers
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