Cyril Amarchand Mangaldas (CAM) topped the Venture Intelligence League Table for Legal Advisor to M&A Transactions in 2019. CAM advised M&A deals worth $15.8 Billion (across 46 qualifying deals). Shardul Amarchand Mangaldas (SAM, $14.9 Billion across 40 deals) and AZB & Partners ($13.8 Billion across 59 deals) took the second and third spot respectively. Khaitan & Co. ($9.2 Billion across 80 deals) and L&L Partners (earlier Luthra & Luthra, $9.2 Billion across 23 deals) completed the top five.
The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms. The 2019 edition saw 100 legal advisors and 82 financial advisors participating.
SAM, AZB advised the GRUH Finance - Bandhan Bank merger and Brookfield's buyout of Pipeline Infrastructure from Reliance Industries. L&L Partners, CAM and SAM advised Bhushan Power and Steel takeover by JSW Steel. CAM, JSA and L&L Partners acted as legal advisors to the acquisition of Rural Electrification Corporation by Power Finance Corporation..
Among the largest deals in the latest quarter, AZB and CAM advised Total's acquisition of 37.4% stake in Adani Gas. SAM and Veritas Legal advised Brookfield's acquisition of multiple assets of Hotel Leela. CAM advised Madura Microfinance acquisition by CreditAccess Grameen.
Among foreign firms, Chicago-based Baker McKenzie came on top advising 2 deals worth $1.9 Billion. New York-based Simpson Thacher & Bartlett came second advising 4 deals worth $1.6 Billion and Boston-based Goodwin Procter came third advising 3 deals worth $731 million..
The full league table can be viewed online at https://www.ventureintelligence.com/leagues.php
By Deal Volume
Khaitan & Co. topped the tables in terms of deal volume advising 80 deals. AZB took the second spot with 59 deals, followed by CAM with 46 deals. SAM (40 deals) and JSA (33 deals) took the fourth and fifth spots respectively.
Among foreign firms, Simpson Thacher & Bartlett topped the table in terms of deal volume advising 4 deals during the period, followed by Goodwin Procter with 3 deals. Baker McKenzie, Shearman & Sterling and Crawford Bayley shared the third spot advising 2 deals each.
By Industry
Among M&A transactions in IT & ITeS (by value), Khaitan ($2.9 Billion) stood first followed by SAM ($2.4 Billion) and CAM ($1.9 Billion). AZB ($1.8 Billion) and Baker McKenzie ($1.6 Billion) completed the top five.
Khaitan also stood at first place by deal volume in IT & ITeS, with 23 deals followed by J Sagar Associates (17 deals). SAM (13 deals) stood at third place followed by AZB (9 deals) in fourth. IndusLaw and CAM shared the fifth spot with 7 deals each.
CAM topped in Infrastructure deals with $7.3 Billion, followed by L&L Partners at $4.5 Billion. AZB ($3.9 Billion) took the third spot. SAM ($3.5 Billion) and JSA ($2.2 Billion) completed the top five. CAM (with 13 deals) also topped by deal volume, followed by AZB (12 deals) and L&L Partners (8 deals) in second and third spot respectively. Khaitan took the fourth spot with 7 deals. DSK Legal took the fifth spot with 4 deals.
In Financial Services, AZB topped the table with $5.3 Billion, followed by SAM with $4.4 Billion. Argus Partners came in at third place with $3 Billion.
Veritas Legal topped in Healthcare & Life Sciences advising deals worth $383 million, followed by AZB ($375 million) in second place. CAM, Latham & Watkins and Ropes & Gray shared the third spot with $283 million each.
In Real Estate, JSA topped with $462 million, followed by CAM with $427 million. Kochhar & Co. occupied the third place with $70 million.
The full league table can be viewed online at https://www.ventureintelligence.com/leagues.php
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Venture Intelligence is India's longest serving provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India.