A&O in talks with Saudi firm over continuation of local alliance
Allen & Overy is in talks with its Saudi Arabian partner firm Abdulaziz AlGasim, after the expiry of the five-year deal between the two firms.
Saudi Arabian law requires that western law firms operating in the country have a local sponsor, and the deal agreed between Allen & Overy and Abdulaziz AlGasim in 2007 continues according to an automatic one-year roll-over period, giving the firms time to negotiate the next step.
An A&O spokesman said that the firm remains committed to Saudi Arabia, and is currently in negotiations with its local partner. The spokesperson added that A&O was not talking to any other potential sponsor firms at present.
Read more at www.thelawyer.com.comments powered by Disqus