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Elite Paris firm Gide Loyrette Nouel has voted to absorb the majority of its international partnership into its equity, a move that has thrown its acquisition talks with Ince & Co France into doubt.

According to three people with knowledge of the matter, the move to promote “an astonishing number” of existing salaried partners to the equity, decided last week at a partner general meeting, means Gide's partnership is now “made up mostly of owners.” It has 96 partners listed on its website, 26 of whom are based outside France, including five in London.

A Gide spokesperson said that, although a number of nonequity partners were promoted, not all have acquired equity status. They declined to comment further.

Gide is one of France's largest law firms, posting revenues of £160 million in its latest financials. The firm has around 550 lawyers across 12 offices in 11 countries but just one domestic base, in Paris.

The firm entered discussions with Ince & Co's French arm—which comprises 32 lawyers working across offices in Paris, Le Havre and Marseille—earlier this year.

But one insider at Ince & Co France said that Gide's sweeping promotion process has slowed the combination talks.

The rest of Ince & Co's international network has been acquired by AIM-listed outfit Gordon Dadds, and the French operation has been keen to finalise a tie-up with a large firm as quickly as possible. Due to the setback, Ince & Co France has now entered into talks with three other international firms, according to the insider, who stressed that this did not necessarily preclude a potential Gide tie-up.

While acquisition talks are ongoing, Ince's French contingent—which is still operating under the Ince & Co name—is mulling an interim rebrand to distance itself from the “Ince” label which, the insider said, had become tarnished, following Ince & Co's December merger with Gordon Dadds.

However, whether it rebrands depends on how long tie-up talks take, as the branch does not want to change its name ahead of a tie-up, only to have to again rebrand were talks to prove successful, according to the insider.

Ince & Co France has twice declined joining five other legacy Ince international branches in reuniting under the postmerger Ince Gordon Dadds banner. It was the only member of the international network to opt out of the shipping firm's combination with Gordon Dadds, with the Germany, Greece, Singapore, China and UAE branches all formally joining the combined firm last month.

Ince & Co France is led by Paris-based managing partner Jerome de Sentenac. He is joined in Paris by partners Alexandre Besnard, Vy-Loan Huynh-Oliveiri, Laurence Hanley and Aymeric de Tapol. The Le Havre office is run by partners Mathieu Croix, Freddy Desplanques and Camille Percheron, and the Marseille office by partner duo Fabien d'Haussy and Laurianne Ribes.

The 10 partners are supported by a network of 17 associates, three counsel and two consultants.