Back in September 2013, The Lawyer has predicted that there would be a new wave of domestic consolidation among Chinese firms resulting in the emergence of a new look ‘red circle’.
Last week, revelations that two of China’s elite firms, Jun He and Zhong Lun, are mulling a possible merger, got the legal market talking. It followed news that Zhong Lun has taken on a 22-partner team from legacy Kaiwen, which is parting from Grandway with whom it merged in 2012.
Some lawyers have compared the merger attempt to being as transformative as that between Coward Chance and Clifford Turner in 1987, which created today’s magic circle firm Clifford Chance.
Should the deal get the green light, it will surely be a ground-shifting move for the country’s legal profession.
Also on TheLawyer.com:
- Stephenson Harwood has received the green light to establish a formal law alliance with its local ally Virtus Law
- Skadden Arps Slate Meagher & Flom has become the latest international firm to establish a base in Seoul
- Clayton Utz has decided to end its association with Hong Kong firm Haley & Co as part of its renewed focus on Australia
- Clifford Chance and Freshfields have taken lead roles in Temasek’s $5.6bn investment in Hong Kong retail group Watson