Andersen and E&Y to become one in the Baltics
Ernst & Young and Andersen have signed a 'memorandum of understanding' to merge their Estonian, Latvian and Lithuanian practices.
An agreement to follow the memorandum will see the two firms become one in this region, with the Andersen name disappearing. In a joint statement both firms said the final merger was expected to be concluded ‘within a few weeks’.
The combined firm will employ in excess of 250 people with revenues reaching $10m (£7m) and will be led by Per Moller, managing partner of Andersen in the Baltics.
Speaking on the merger news, Moller said: ‘The declaration to merge the two firms will ensure continuous services of the highest standard to clients.’
Karl Johansson, regional partner or Ernst & Young Europe said his firm was ‘looking forward to this combination’.