New London base for US firm

Cravath has taken out a 25 year lease on the 12,500 sq ft office space in the landmark development in Ropemaker Street, EC2.

The 425-lawyer firm - which has offices in New York and Hong Kong - opened its London operations in 1973.

The new City home of Cravath - which is currently advising Time Warner on its merger with AOL - already houses law firms Simmons & Simmons and Simpson Thacher & Bartlett which have leased 286,000 sq ft between them