Concord & Partners, now renamed East & Concord Partners, has received approval from the Beijing Municipal Bureau of Justice for its absorption of East Associates Law Firm, a merger that will create a new first-tier law firm in China, a partner at the firm said.
The merger is expected to generate synergetic effects. “The two firms have complementary business areas, rather than competing with each other. Concord has a strong practice in mergers and acquisitions, banking and finance, infrastructure, energy and natural resources, and commercial arbitration. Meanwhile, East Associates is adept in financial leasing, Japan practice, antitrust, commercial and criminal litigation, and intellectual property, which can complement Concord’s practice,” Yao Yi, a member of Concord’s management committee, told China Business Law Journal.