AZB & Partners (AZB) topped the Venture Intelligence League Table for Legal Advisor to M&A Transactions during 2022. AZB advised 81 M&A deals worth $73.8 Billion. They were followed by Argus Partners ($44.56 Billion across 9 deals) and Wadia Ghandy ($40.02 Billion across 5 deals) in the second and third spots, respectively. Cravath, Swaine & Moore ($40 Billion across 1 deal) took the fourth spot, with Cyril Amarchand Mangaldas (CAM) ($34.6 Billion across 90 deals) completing the top five.
Among the largest M&A deals during 2022, AZB, Argus Partners, Cravath, Swaine & Moore and Wadia Ghandy advised the $40 Billion merger of HDFC Limited with HDFC Bank. AZB and CAM advised $10.5 Billion Adani Group's acquisition of Switzerland-based Holcim’s entire stake in its two Indian cement companies, Ambuja Cements Ltd and ACC Ltd . Saraf and Partners, SAM, K Law, Baker Mckenzie, and Goodwin Procter advised the $3.3 Billion acquisition of Viatris’ biosimilars business by Biocon Biologics (a subsidiary of publicly listed Biocon).
The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on the value of PE and M&A transactions advised by Financial and Legal Advisory firms.
Among foreign firms, Cravath, Swaine & MooreBaker advising the HDFC-HDFC Bank deal worth $40 Billion. Baker McKenzie and Goodwin Procter followed the next spot having advised 1 deal worth $3.3 Billion. They were followed by Clifford Chance and Linklaters with 1 deal worth $1.6 Billion.
The full league table can be viewed online at https://www.ventureintelligence.com/leagues.php
CAM took the top spot with 90 deals, followed by Khaitan & Co. with 89 deals. AZB (81 deals), SAM (79 deals), and Trilegal (68 deals).
By Industry
Under the BFSI industry (by value), AZB topped the table by advising 10 deals worth $42 Billion, followed by Argus Partners ($40.1 Billion across 3 deals). Cravath, Swaine & Moore ($40 Billion across 1 deal) and Wadia Ghandy ($40 Billion across 2 deals) took the third spot. CAM took the fourth position, advising 8 deals across $4 Billion.
AZB topped the table under Manufacturing industry, having advised 13 deals worth $12.7 Billion, followed by CAM (7 deals worth $11.1 Billion) and Khaitan & Co. (19 deals worth $1.95 Billion).
Under the Healthcare industry, SAM topped the table by advising 5 deals worth $4.9 Billion. Saraf and Partners took the second spot, advising 1 deal worth $3.33 Billion.
Under the Media & Entertainment industry (by value), AZB ($4.9 Billion) topped the table followed by SAM with deals worth $4.4 Billion. Argus Partners and Anagram Partners took the third position by advising deal worth $3.2 Billion.
The full league table can be viewed online at https://www.ventureintelligence.com/leagues.php
To showcase your firms' transactions in the 2023 League Tables, contact Vanathi at
About Venture Intelligence
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.