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Norman Foster considers practice sale

Extraordinary reports over the weekend have suggested that Norman Foster is considering the sale of his practice.

The titled architect, 71, is believed to be looking to outside investors in a bid to raise the capital to fund a massive global expansion plan.

This strategy, which includes the appointment of Catalyst Investment to advise him, could see as many as 30 offices opening worldwide.

The Sunday Telegraph reported yesterday morning that Foster met senior staffers last week to discuss the move - which has valued the firm in the region of £500m.

This valuation could be dependent on whether Foster agrees to stay on as head of the practice, such is the value put on the Norman Foster brand.

Foster and Partners currently employs 850 staff worldwide.

It was unavailable for comment.

by Ed Dorrell

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