Beiten Burkhardt backs KPMG merger
Legal Week reports
September 24, 2001 at 06:49 AM
2 minute read
German firm Beiten Burkhardt Mittl & Wegener has voted by an overwhelming majority in favour of merger with KPMG's German law firm Treuhand & Goerdeler.
Nick Holt, managing partner of KLegal in London, welcomed the news of the merger vote and said KPMG's legal arm would gain greater credibility in Germany.
"This is a significant step forward and good news for KLegal international," said Holt.
The merger vote brings to an end a period of intense uncertainty for Munich-based Beitens, which has seen high-level partner walkouts and doubts over its international strategy.
This year the firm lost four partners from its Frankfurt office to US firm Weil Gotshal & Manges, soon followed by Gibson Dunn & Crutcher hiring four more partners.
The vote is also the death knell for its BBLP European alliance of four firms in Germany, Switzerland, Italy and France.
Although the KPMG supervisory board still has to give its final seal of approval, the deal is expected to go through without delay on 1 January 2002.
In the meantime it is expected that Anglo-Saxon firms will attempt to lure away as many partners as possible from the firm before financial integration next year.
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