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March 20, 2011

German firms RöverBrönner and SUSAT merge

A German member of Moore Stephens
International, RöverBrönner, is merging with former Grant Thornton
firm SUSAT.

RBS RoeverBroennerSusat (RBS) will employ
more then 700 staff, 210 professionals, 41 partners and has annual
fee income of between €70 million to €80 million. SUSAT has 450
staff and 20 partners that will join the RöverBrönner team. RBS has
eight offices in Germany with headquarters in Berlin and
Hamburg.

In terms of revenue, the firm would be placed
among the largest 10 firms in Germany and Moore Stephens
Deutschland is among the two largest networks of independent firms
in the country.

RBS provides audit, tax and consulting
services for larger medium-sized companies in real estate,
financial services, insurance, health care and trade sectors.

SUSAT partner Hendrik Jung said RBS plans to
growth and aim to rapidly improve the position among the largest
audit firms in Germany.

Gregor Kunz, a partner at RöverBrönner, added:
“Our company’s special expertise in the area of taxes and law is
complemented very well by the special know-how in the areas of
accountancy and corporate finance at SUSAT.”

In September, Grant Thornton International
announced it was moving from a network of independent firms model
to single firm coverage in Germany. Warth & Klein was chosen as
Grant Thornton’s sole firm from October 2010 with the four other
federation firms, including SUSAT, to leave the network by mid
2011.

In Germany, it is common for groups of strong
regional firms to operate within globally branded networks rather
than operate as a national firm, although consolidation in the
market is expected to continue.

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