Mergermarket H1 2019 M&A tables: Shardul Amarchand records highest deal value, AZB with most deals
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Mergermarket H1 2019 M&A tables: Shardul Amarchand records highest deal value, AZB with most deals

Bar & Bench

During what has been a relatively slow first half of 2019, Shardul Amarchand Mangaldas has topped the Mergermarket M&A league tables in terms of deal value. AZB & Partners has recorded the highest number of deals during this period.

The Mergermarket report states that the Indian market witnessed a lull even though it wasn’t involved in the US-China trade war that affected markets around the world. As per the report, the market slowed down as businesses adopted a cautious approach ahead of the Lok Sabha Elections that concluded in May.

During the first half, however, India was home to the third largest deal in the Asia Pacific (ex. Japan) region – the takeover of Essar Steel by ArcelorMittal and Nippon Steel.

M&A League Tables by Deal Value

Shardul Amarchand tops the league tables in terms of deal value, having recorded 32 deals at $16.9 billion. Cyril Amarchand Mangaldas follows, with 24 deals at $13.6 billion. AZB & Partners rounds off the top three with 47 deals at $12.4 billion.

RankLaw FirmDeal Value (in $ billion)Deal Count
1Shardul Amarchand Mangaldas16.932
2Cyril Amarchand Mangaldas13.624
3AZB & Partners12.447
4L&L Partners10.613
5S&R Associates6.77
6Khaitan & Co6.445
7J Sagar Associates3.415
8Argus Partners3.01
9Baker McKenzie2.24
10Trilegal1.816

L&L Partners, with 13 deals at $10.6 billion, and S&R Associates with 7 deals at $6.7 are also in the top five. They are followed by Khaitan & Co with 45 deals at $6.4 billion, J Sagar Associates with 15 deals at $3.4 billion, and Argus Partners with 1 deal at $3.0 billion.

Baker McKenzie – the only international law firm in the top ten – is at ninth with 4 deals at $2.2 billion. Trilegal is in tenth with 16 deals at $1.8 billion.

M&A League Tables by Deal Count

AZB & Partners has recorded the most deals (47) in the Mergermarket league tables for H1 2019. They are closely followed by Khaitan with 45 deals. Shardul Amarchand and Cyril Amarchand are next, with 32 and 24 deals respectively.

RankLaw FirmDeal Value (in $ billion)Deal Count
1AZB & Partners12.447
2Khaitan & Co6.445
3Shardul Amarchand Mangaldas16.932
4Cyril Amarchand Mangaldas13.624
5Trilegal1.816
6J Sagar Associates3.415
7L&L Partners10.613
8Desai & Diwanji0.379
9S&R Associates6.77
10Veritas Legal1.027

Trilegal, JSA and L&L Partners have recorded 16, 15, and 13 deals respectively. Desai & Diwanji is next with 9 deals, followed by S&R Associates and Veritas Legal with 7 deals each.

International mentions

Shardul Amarchand has the second highest deal value in the Asia-Pacific (ex-Japan) region. Cyril Amarchand, AZB, and L&L Partners also find mention in this table. AZB recorded the second highest deals in APAC (ex-Japan).

SAM also finds mention in the Germany and Benelux league tables. CAM finds mention in the league tables for Ireland and Benelux.

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