Australia’s Legal Business Online has reported that Freehills have agreed on an arrangement with Chinese firm Transasia who will provide advice to Freehills on Chinese firms wishing to invest in Australia
Legal Business Online reports
The newly formed strategic alliance between Freehills and TransAsia comes nearly two years after the alliance between Sydney-based firm Gilbert + Tobin and King & Wood. While the alliance between G + T and King & Wood was mostly seen as a formalisation of an existing relationship in Hong Kong, Freehills? alliance with TransAsia is largely driven by current market trend and client needs.
?Essentially, the purpose of the alliance is to work together with TransAsia on inbound investing into Australia by Chinese companies,? said senior partner of Freehills Leon Pasternak. ?We have always had partners with links with China, but the level of Chinese investment in Australia now requires us to have a stronger presence and connection in China. The alliance is reflecting the significant growth of Chinese investment and interest in Australia.?
Freehills, with 210 partners and 650 lawyers, has already been an active advisor to Chinese companies investing in Australia. Most recently, the firm acted for China Investment Corporation (CIC) on its A$750m investment in Goodman Trust? the first investment in Australia by a Chinese sovereign fund and the largest Chinese investment in the non-resource sector.
While Freehills hopes to attract more inbound work, TransAsia benefits from gaining access to a large pool of Australian lawyers who have the resources and expertise to help its clients investing in Australia.
We learn from the report that the alliance is a non-excusive one, and the two firms are to treat each other as a preferred partner or best of friends. It is the first strategic alliance for Freehills, but the third for TransAsia: the Chinese firm has similar arrangement with Canadian firm Torys and Japanese firm TA Lawyers GKJ.
Full Report at?? http://asia.legalbusinessonline.com/contents/freehills-finds-first-best-friend-in-china/37084
