Amid a global deal drought that has many large firms on a worldwide prowl for corporate work, Linklaters announced Friday that it had signed a cooperation agreement with a leading Saudi Arabian shop, while Magic Circle rival Clifford Chance landed a key role on one of the Middle East’s largest financial services M&A transactions since the financial crisis hit four years ago.
Linklaters’s pact is with the Riyadh-based Abdulaziz AlGasim Law Firm, whose previous alliance with Magic Circle rival Allen & Overy expired this summer. Saudi law requires that foreign firms form an alliance with local shops in order to operate in the country.
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