Law Inc soars in 2015: deals worth $27.6 billion, 22.8% YoY increase, AZB tops Merger Market tables

After a relatively quiet 2014, this year has seen a flurry of deals, especially in the M&A space. According to the recently released Mergermarket the first nine months of the year has witnessed extraordinary M&A activity with 298 deals worth $27.6 billion, a 22.8% increase compared to 2014.

And one of the firms that has been involved in close to one-fifth of these deals is AZB & Partners. The firm has jumped to the top of the Mergermarket league tables from third position in the first half of the year. AZB & Partners advised on 54 deals valued at $6 billion.

This is a remarkable turnaround; AZB was ranked seventh (by value) in the same period last year and this year it has moved to the top.

Speaking to Bar & Bench, AZB Managing Partner Zia Mody said,

“It has been a good and busy year so far for AZB in the M&A space. And I suspect it is the same for most other law firms as well. PE continues to be active and the insurance sector is picking up pace. I would think brisk deal activity would continue for the rest of the year.”

By Deal Value

Khaitan & Co, and Amarchand Mangaldas (combined) respectively came in at second and third place by value. Khaitan has done 35 deals worth $5.8 billion while Amarchand Mangaldas has done 18 deals worth $4.6 billion.

Cyril Amarchand Mangaldas, just five months old, ranks tenth (18 deals valued at $2 billion) ahead of JSA, which ranks eleventh (22 deals valued at $1.9 billion), followed by Shardul Amarchand Mangaldas and Nishith Desai Associates.

The international firms in this table include Davis Polk & Wardwell, Morrison & Foerster, Gomez-Acebo & Pombo Abogados, Lee and Li Attorneys at Law, Orrick Herrington & Sutcliffe, Sullivan & Cromwell and Norton Rose Fulbright.

By Deal Count

Khaitan & Co, and Desai & Diwanji take the second and third position with 35 and 24 deals respectively. J Sagar Associates is at fourth position with 22 deals and Amarchand Mangaldas (combined) is at fifth with 18 deals.

Cyril Amarchand Mangaldas, Trilegal and BMR Legal take the sixth, seventh and eighth position with 18, 17, and 16 deals respectively. Shardul Amarchand Mangaldas and Nishith Desai Associates complete the top ten with 13 deals each. Luthra & Luthra, also at 13 deals, is at eleventh.

The other firms in the league table are P. H. Bathiya & Associates, Krishnamurthy & Co, DSK Legal and HSA Advocates.

Asia

AZB & Partners ranks fourth by deal count in Asia Pacific (excl-Japan) with 55 deals valued at $6 billion while Khaitan & Co ranks 12^th with 38 deals valued at $5.8 billion.

In Asia Pacific (excl Australia & Japan) AZB ranks second right after King & Chang and Khaitan is at tenth position.

In South East Asia, AZB ranks ninth and Desai & Diwanji is at tenth position.