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February 01, 2014

AZB, Amarchand Top League Tables for Private Equity, M&A in 2013

Private Equity

AZB & Partners has retained its status – for the fourth consecutive year - as the Most Active Legal Advisor for Private Equity transactions during 2013. According to the Venture Intelligence League Tables, AZB finished the year with 166 points (across 42 qualifying deals). ALMT Legal and K Law vaulted to the second spot with 80 points (across 20 deals) each.  Amarchand & Mangaldas, Samvad Partners and NovoJuris finished joint third with 76 points each (across 19 deals).

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on volume of PE and M&A transactions (combined with credits based on fulfilment of criteria) advised by Transaction and Legal Advisory firms.

AZB advised PE deals during the period included KKR’s acquisition of controlling stake in Alliance Tire Group and Baring Asia's $256 million investment in Lafarge India. Large transactions advised by ALMT Legal included Emcure Pharmaceuticals’ attracting of a $150 million investment from Bain Capital, while K Law advised Nexus Ventures and Kalaari Capital on their participation in the $50 million round raised by e-commerce firm Snapdeal.com.

AZB & Partners also topped the tables in terms of deals advised by value, including the $460 million investment. Amarchand & Mangaldas (which advised KKR’s $200 million investment in Gland Pharma) came in second while Khaitan & Co. (which advised Apax Partners’ $420 million investment in GlobalLogic) finished third in terms of deals advised by value.

The year also saw a lot of new entrants like Bharucha & Partners and P&C Legal enter the Venture Intelligence Most Active Legal Advisors for Private Equity league table.
 
M&A
Amarchand & Mangaldas topped the Venture Intelligence League Tables for Most Active Legal Advisor to M&A transactions for 2013 with 136 points (across 37 qualifying deals) followed by Khaitan & Co. with 92 points (across 25 deals). AZB & Partners came in next with 90 points (26 deals).

Amarchand & Mangaldas advised M&A deals during the year included the $2.47 Billion acquisition of Videocon’s stake in Mozambique gas field by ONGG Videsh and Oil India Limited and the Holcim - Ambuja Cements restructuring deal. Khaitan & Co. advised deals included Torrent Pharmaceuticals’ $323 million acquisition of formulations business of Elder Pharmaceuticals and the $214 million stake increase by Standard & Poor's McGraw Hill in rating agency CRISIL. AZB advised M&A deals in 2013 included the $150 million acquisition of Ashirvad Pipes by Belgium-based Aliaxis Group and the completion of the 55% stake acquisition in Cello Pens by France’s BIC.

Other legal advisors who had advised a significant number of M&A deals during the year included  and Trilegal (66 points, 20 deals), J Sagar Associates (40 points, 10 deals) and Tatva Legal (34 points, 10 deals).

Amarchand & Mangaldas also topped the table in terms of value of the deals advised, followed by Luthra & Luthra  (whose notable deals during the year included the $1.75 Billion acquisition of Strides Arcolab’s Agila Specialties division by Mylan Laboratories and Indiabulls Group’s buyout of Farallon Capital from its real estate project subsidiaries. S&R Associates came in next in terms of deals advised by value.

Khaitan & Co. topped the Inbound deals chart with 16 deals, followed by Amarchand and AZB with 14 and 13 deals respectively. AZB & Partners led the Outbound M&A deals with four deals. Amarchand & Mangaldas deal count included 22 domestic deals, followed by AZB and Khaitan & Co. with 9 deals each.

New Entrants to the Venture Intelligence M&A table for Legal Advisors during 2013 include Finsec Law, P&C Legal and Bharucha & Partners
 
The full league table can be viewed online at http://ventureintelligence.in/leagues.php

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.