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  • UK firm Osborne Clarke has added French firm Stehlin & Associés to its European alliance and has pledged increased cooperation with existing partners in Germany, Denmark, Holland and Spain.
  • US firm White & Case will open a new office in Bahrain later this quarter. Five lawyers will initially staff the office. Bahrain and Dubai qualified lawyer Qays Zuíbi has been recruited to lead the office along with White & Case partner Michael Quigley who is moving from the Paris office.
  • Saudia Arabia’s growing demand for energy may soon force the country to open its doors to foreign investment.
  • Over 500 companies are proposed to be offered for privatization in Iran’s Third Economic Development Plan and the doors are being opened to foreign investment.
  • Foreign investment in South Korea has reached record levels after the government abolished laws impeding cross-border mergers and acquisitions in 1998. Investment funds are moving in and hostile take-overs are set to increase. Rob Mannix reports on the lawyers advising overseas buyers.
  • Morrison & Foerster has formed a strategic alliance to provide state and local tax advice with accounting firm KPMG, making it the first law firm to forge a relationship with a big five accounting firm in the US. Chicago-firm Horwood Marcus & Berk Chartered and University of Georgia Professor Walter Hellerstein are also part of the alliance.
  • January also saw the biggest ever all-UK corporate deal with the announcement that Glaxo Wellcome and SmithKline Beecham intend to merge.
  • Clifford Chance has completed its merger with Luxembourg firm Faltz & Kremer.
  • Extra News
  • Korean securitization is enjoying a renaissance after the difficulties of the Asian financial crisis.