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AZB, Khaitan top prelim 2015 M&A rankings, Cyril leads Shardul Amarchand (but combined AMSS would have been biggest)

Mergermarket preliminary rankings 2015: AZB, Khaitan top
Mergermarket preliminary rankings 2015: AZB, Khaitan top

AZB & Partners overtook Khaitan & Co since the first half of 2015 rankings and the split firms of Amarchand Mangaldas, on data provider mergermarket’s preliminary M&A leader board this year.

However, the combined deal value of the split Amarchand Mangaldas firms would have led the value rankings by a margin of $4bn (though some transactions saw both Cyril Amarchand Mangaldas and Shardul Amarchand Mangaldas advising on opposite sides, which would result in a double count in such a theoretical aggregate).

At the end of 2014, Amarchand Mangaldas had topped the rankings with $14bn of M&A deals, which was double AZB & Partners’ total and nearly three times that of Luthra & Luthra.

AZB’s $10.45bn from 73 deals, was the only double digit billion dollar deal value figure so far in the preliminary rankings for 2015. AZB also acted on the most number of M&As this year. The current rankings will be revised for data obtained after 15 December.

Khaitan advised on 50 transactions worth $7.39bn. Of the 50, the firm had acted on 22 deals worth $4.8bn by July 2015 and had come out at the top of the half-yearly rankings.

Khaitan was followed by Cyril Amarchand Mangaldas, erstwhile Amarchand Mangaldas, J Sagar Associates (JSA) and Luthra & Luthra.

Shardul Amarchand Mangaldas, which is eight ranks behind Cyril Amarchand Mangaldas, aggregated less than half of CAM’s $5.14bn deal value. SAM did 20 M&As this year while CAM acted on 30.

S&R Associates, which is one rank above SAM, and Trilegal and Nishith Desai Associates are the other domestic firms among the top 15 M&A firms.

The rankings are a preview of mergermarket’s final year rankings and remain subject to change.

Preliminary rankings: By value 1 January 2015 – 15 December

2015 2014 Firm Value (US$m) No of Deals
1 2 AZB & Partners 10,452 73
2 8 Khaitan & Co 7,389 50
3 - Cyril Amarchand Mangaldas 5,141 30
4 1 Amarchand Mangaldas (Former) 4,776 21
5 17 J Sagar Associates 3,805 35
6 4 Luthra & Luthra 3,167 15
7 3 Davis Polk & Wardwell 2,738 2
8 20 Clifford Chance 2,568 3
9 14 Sullivan & Cromwell 2,308 2
10 5 S&R Associates 2,284 9
11 - Shardul Amarchand Mangaldas 2,280 20
12 34 Linklaters 2,208 7
13 19 Trilegal 1,775 25
14 30 Nishith Desai Associates 1,541 14
15 67 Simpson Thacher & Bartlett 1,488 6

Prelminary rankings: By volume 1 January 2015 – 15 December

2015 2014 Firm Value (US$m) No of Deals
1 1 AZB & Partners 10,452 73
2 5 Khaitan & Co 7,389 50
3 3 J Sagar Associates 3,805 35
4 - Cyril Amarchand Mangaldas 5,141 30
5 6 Trilegal 1,775 25
6 4 Desai & Diwanji 742 24
7 2 Amarchand Mangaldas (Former) 4,776 21
8 - Shardul Amarchand Mangaldas 2,280 20
9 15 BMR Legal 1,191 17
10 7 Luthra & Luthra 3,167 15
11 13 Nishith Desai Associates 1,541 14
12 9 P. H. Bathiya & Associates 1,037 14
13 19 IndusLaw 1,438 12
14 25 HSA Advocates 30 10
15 21 S&R Associates 2,284 9

Source: mergermarket

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