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Field Fisher Waterhouse is considering bringing in an outside company to value the business as it considers options for a conversion to an alternative business structure (ABS).
The firm’s board is looking at whether there are parts of the business that could be valued and is assessing options, including external investment.
A spokesperson said the firm had no plans to apply for an ABS conversion or to invite external investment at the moment, but was considering potential opportunities.
“We’re evaluating the possibilities open to us as a result of the [Legal Services Act]. This includes getting a good understanding of the financing options available and how a corporate financier might value our business or parts of it,” the spokesperson said.
The news comes as the firm pushes ahead with its new management structure, with partners currently voting on the make-up of a new supervisory board that was introduced following a widespread constitutional review (19 January 2012).