International giant’s rapid growth continues
Eversheds Sutherland’s proposed merger with Singapore’s Harry Elias Partnership has been given the green light by the country’s Ministry of Law.
Just weeks after its transatlantic tie-up with US law firm Sutherland Asbill & Brennan went live, the newly-formed Eversheds Sutherland is a step closer to striking yet another deal.
Under Singaporean law, foreign outfits which do not have a Qualifying Foreign Law Practice licence cannot undertake work involving domestic laws. In order to do so, big international firms must form alliances or deals with firms based within the country. Eversheds Sutherland already has a small Singapore outpost.
The proposed merger, which has apparently been in the pipeline for some time, initially found itself ensnared in red tape after Eversheds changed its name post US merger. However, several weeks on, the Singapore Ministry of Law has now said the combination can go ahead.
Founded in 1988, Harry Elias Partnership — which has 56 fee earners and 20 partners — is a full service law firm, covering everything from aviation to sports and media law. With offices in Singapore and Brunei, the outfit has worked on a number of high-profile projects including the iconic Marina Bay Sands resort (pictured) and Singapore F1’s pit building.
While it’s still not clear when the merger will go live, it has been reported in Legal Week (£) that Eversheds Sutherland — the much larger of the two firms — will acquire 33% of the newly-formed outfit’s equity.
It’s been a busy few months for Eversheds Sutherland. Having confirmed US merger rumours last December, the firm’s combination with Sutherland Asbill & Brennan finally went live on 1 February. Boasting revenues in excess of £600 million, the new legal powerhouse has 2,300 lawyers across 61 offices in 29 countries.
But perhaps more importantly the deal resulted in loads of new law firm merch.
— Wie-Men Ho (@EmpLawyerWMH) February 1, 2017
Lets hope the Singapore merger doesn’t result in a further name change.
For all the latest news, features, events and jobs, sign up to Legal Cheek’s weekly newsletter here.