Camerons on verge of Moscow joint venture with French and German allies
CMS Cameron McKenna, French firm CMS Bureau Francis Lefebvre and Germany's CMS Hasche Sigle are on the verge of signing an agreement to set up a combined office in Moscow.The three alliance firms are expected to formalise the joint venture agreement within the next fortnight, with the integrated Moscow office set to rebrand as 'CMS' from 1 January next year. The move follows a formal partner vote on the joint venture proposal at each of the three firms over the last few weeks. The firms had initially agreed to the concept in February this year.The merged office will be led by Hasche Sigle's John Hammond and a management board including Camerons' Moscow head David Cranfield and his French counterpart, Jean-Francois Marquaire. Partners will remain tied to their respective firms, with the three firms sharing costs for the venture.Hammond said: "It has been apparent during the process that we have a great opportunity here to integrate three very complimentary practices. The co-operation works extremely well."Queries had been raised over the contribution of each of the firms to the venture, with concerns that Camerons would become a controlling party. However, Camerons denied this was the case. Hammond added: "It is an equal joint venture where everyone owns one-third each. No-one controls or owns a majority stake and all equally participate financially."
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