AZB has advised on 49 deals in the first nine months of 2010 with a total value of $29.9bn, benefiting in 11 disclosed deals in the third quarter and in particular the $9.1bn purchase of Cairn India by Vedanta in early August, on which S&R Associates, Shepherd & Wedderburn and Freshfields Bruckhaus Deringer also pitched in.
The second largest deal in Q3 was the $2.6bn acquisition by Fortis Healthcare of Parkway Holdings where AZB was the only Indian law firm advisers, working with Singaporean firms Wong Partnership, Rajah & Tann and Stamford Law Corporation.
Desai & Diwanji tallied up a total of 15 deals in the last quarter to take its total this year to 29, with a total value of $1.3bn.
Amarchand in third position with 22 deals, added eight deals in Q3 in which its largest included M&A deal was the takeover of JSW Steel worth $1.1bn by AZB client JFE Steel Corporation.
Khaitan & Co found itself in fourth place having advised on $3.2bn over 11 deals in three quarters, with five alone in Q3. Its largest deal was its involvement in the Oberoi Hotels group sale to Reliance Industries Limited, for which AZB also appeared.
Nine-month-old Dua Associates spin-off Tatva Legal meanwhile racked up 11 deals in the year so far with a total value of $488m.
Trilegal and Nishith Desai Associates picked up eight and seven deals respectively this year so far.
Activity from international firms has been muted in the third quarter, with Allen & Overy and Linklaters still featuring highly in the list of law firm advisers after a strong first half of the year.
Indian Q1-Q3 2010 M&A activity has been the highest on record according to mergermarket. A total of 183 deals were announced, totalling $44.2bn in value, which is a 24.5 per cent increase in volumes and a 313 per cent increase in deal values compared to the same period in 2009.
The market sector with the most activity was the technology, media and telecoms (TMT) sector, which made up for 47.3 per cent of M&A activity.
Compare the current league tables to 2010’s first half-year, the 2010 first quarter, and the 2009 half-year and full 2009 calendar year M&A league tables.
Indian M&A legal advisers by volume, 1 January - 30 September 2010
| Rank Q1-Q3 2009 | Rank Q1-Q3 2010 | Law firm | Value ($m) | Deal count | Deal count Q1-Q2 2010 |
|---|---|---|---|---|---|
| 3 | 1 | AZB & Partners | 29,907 | 49 | 38 |
| 2 | 2 | Desai & Diwanji | 1,383 | 29 | 14 |
| 4 | 3 | Amarchand Mangaldas | 6,106 | 22 | 14 |
| 1 | 4 | Khaitan & Co | 3,214 | 11 | 6 |
| 62 | 5 | Tatva Legal | 488 | 11 | 2 |
| 5 | 6 | Trilegal | 412 | 8 | 7 |
| 7 | 7 | Nishith Desai Associates | 204 | 7 | 3 |
| 40 | 8 | Allen & Overy | 12,578 | 5 | 5 |
| 6 | 9 | J Sagar Associates (JSA) | 322 | 5 | 3 |
| - | 10 | Linklaters | 12,170 | 4 | 3 |
| 9 | 11 | Luthra & Luthra | 4,445 | 4 | 3 |
| 13 | 12 | DSK Legal | 80 | 4 | N/A |
| 30 | 13 | S&R Associates | 9,332 | 3 | N/A |
| 47 | 14 | DLA Piper | 84 | 3 | N/A |
| 53 | 15 | Stamford Law Corporation | 9 | 3 | N/A |
Source mergermarket Methodology: mergermarket included announced transactions over $5m in value from 1 January to 30 June 2010. Deals with undisclosed values were included if the target’s turnover exceeded $10m. Deals where a stake of less than 30 per cent is acquired were only included if the value exceeded $100m.
Comments
#5-wake up- its a table that lists law firms based on number of deals and Luthra has been placed where it deserves based on that data.
thakker & thakker associates- s&r seems a great option..!
14, I dont think snr should not have too much worries on that count; more than enough people will be looking at joining it. especially now, that it is getting into the biggest deals, has a new office etc...
http://www.legallyindia.com/201007161107/Corporate-/-MA/azb-top-of-first-half-2010-maa-league-as-foreign-firms-pick-up-big-value-deals
Who came up with this weird methodology... A 6 mio USD 50% deal is included. But a 99 mio USD 10% deal is not. So a deal with enterprise value of 10 mio USD is included but one with enterprise value of 990 mio USD is not. Frankly illogical methodology.