Reed Smith closes on Richards Butler HK arm
Reed Smith is in advanced merger talks with Richards Butler's legacy Hong Kong partners, with an agreement expected to be reached later this summer. The heavyweight Hong Kong practice - which was treated as financially separate from the London and European partnership of Richards Butler - was not part of the merger agreed between the two firms last year.
July 16, 2007 at 06:59 AM
2 minute read
Reed Smith is in advanced merger talks with Richards Butler's legacy Hong Kong partners, with an agreement expected to be reached later this summer.
The heavyweight Hong Kong practice – which was treated as financially separate from the London and European partnership of Richards Butler – was not part of the merger agreed between the two firms last year.
Talks with the Hong Kong office have continued sporadically since the merger agreement.
One partner at the firm said Reed Smith had previously focused on bedding down the merger in London – as well as its tie-up in October last year with Chicago outfit Sachnoff & Weaver – leaving the Hong Kong operation out of the spotlight.
Insiders say the current round of talks is likely to have "moved substantially forward" by the end of the summer, although no formal time-frame has yet been set.
Reed Smith Richards Butler European managing partner Roger Parker told Legal Week: "Both groups of partners are positive and favour a combination, subject to finalising documentation."
However, one Hong Kong partner cautioned: "Nothing has been decided yet."
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