US advisory firm Alix Partners is on the verge of agreeing a deal worth just under $100m (£65m) to buy the UK and European division arm of rival Zolfo Cooper, it emerged yesterday.
The New York-based Alix Partners had booked a board meeting for yesterday to approve the deal, which could be completed as early as today.
If agreed, the deal will bring together to two of the City’s most prolific advisers on corporate restructurings.
Although using the same name, Zolfo Cooper’s European division operates as a separate entity to its US affiliate. The takeover of the company’s London-based operations is expected to result in heavy payouts for its partners, who are thought likely to remain with the combined group.
Alix Partners is owned by private equity giant CVC Capital Partners.
Zolfo Cooper and Alix Partners declined to comment.