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LONDON (Alliance News) - Burford Capital Ltd, a litigation finance provider, on Wednesday said it has entered a EUR30 million German venture with claimants' law firm Hausfeld.
The EUR30 million venture will cover claims in Germany. The deal will see Hausfeld expend its in Europe by opening a German office in Berlin, with Burford to provide litigation financing.
"We see this venture as a brilliant next step for our firm: it will enhance our ability to offer our clients, amongst the leading German corporations in the retail, transport and automotive sectors, the broadest menu of options in pursuing competition damage claims. This comes as we prepare strong additions on the ground in Germany in our core area of practice and build on our successful collaboration with Burford in London," Anthony Maton, Managing Partner of Hausfeld in London, said in a statement.
"Our financing for Hausfeld's emerging market opportunity is a terrific example of how we work with firms and businesses to help them innovate and grow. We're proud to expand our relationship with such a respected competition firm, and we are committed to continuing innovation in the field of litigation finance," Burford Chief Executive Christopher Bogart said in a statement.
Shares in Burford were down 0.8% at 183.00 pence on Wednesday afternoon.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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