Elite Paris firm Gide Loyrette Nouel has voted to absorb the majority of its international partnership into its equity, a move that has thrown its acquisition talks with Ince & Co France into doubt.
According to three people with knowledge of the matter, the move to promote “an astonishing number” of existing salaried partners to the equity, decided last week at a partner general meeting, means Gide’s partnership is now “made up mostly of owners.” It has 96 partners listed on its website, 26 of whom are based outside France, including five in London.
