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Mergermarket recently released its M&A league tables for the first quarter of 2016. And it has been a busy quarter for Indian law firms.
During this period, there have been 23 outbound M&A deals valued at $2.2 billion, making it the highest Q1 deal value since 2011, a 455.1% value increase compared to Q1 2015, which saw 19 deals valued at $390 million.
In India, Cyril Amarchand Mangaldas has topped the league tables in terms of deal value, whereas Khaitan & Co has recorded the most number of deals.
Cyril Amarchand Mangaldas’ 7 deals, valued at $3.2 billion, take them to the top, followed by Vaish Associates, with 2 deals valued at $2.4 billion.
The biggest deal this quarter – UltraTech Cement’s acquisition of Jaiprakash Associates’ cement manufacturing facilities at almost $2.4 billion – took both Cyril Amarchand Mangaldas and Vaish Associates to the top two spots in the league table by value.
AZB & Partners is in third place, with 10 deals valued at $2.06 billion. Khaitan & Co and IndusLaw are the other Indian firms in the top ten, at 8th and 9th place, with 15 deals at $934 million and 2 deals at $900 million respectively.
The other Indian firms in the list include JSA at 11, with 3 deals at $846 million, Nishith Desai Associates at 12 with 3 deals at $770 million and Shardul Amarchand Mangaldas at 15, with 6 deals valued at $479 million.
The international law firms in the league table include Latham & Watkins, Linklaters, Weil Gotshal & Manges, Dechert, Herbert Smith Hills, Shearman & Sterling and Allen & overy.
|Rank||Firm||Deal Value ($million)||Deal Count|
|1||Cyril Amarchand Mangaldas||3200||7|
|3||AZB & Partners||2066||10|
|4=||Latham & Watkins||1280||1|
|6||Weil Gotshal & Manges||1100||2|
|8||Khaitan & Co||934||15|
|10||Herbert Smith Freehills||900||1|
|12||Nishith Desai Associates||770||3|
|13||Shearman & Sterling||670||3|
|14||Allen & Overy||484||2|
|15||Shardul Amarchand Mangaldas||479||6|
Khaitan & Co tops the table with 15 deals, followed by AZB, with 10 deals. The two Amarchand firms are next; Cyril Amarchand is in third with 7 deals, whereas Shardul Amarchand is in fourth with 6 deals. Trilegal completes the top five with 5 deals.
The other Indian firms featured include Veritas Legal, with 4 deals and a host of firms – JSA, Nishith Desai and ELP – at 3 deals each. Also on the list are Vaish Associates and IndusLaw with 2 deals each.
|Rank||Firm||Deal Value (in $million)||Deal Count|
|1||Khaitan & Co||934||15|
|2||AZB & Partners||2066||10|
|3||Cyril Amarchand Mangaldas||3200||7|
|4||Shardul Amarchand Mangaldas||479||6|
|8||Nishith Desai Associates||770||3|
|9||Shearman & Sterling||670||3|
|10||Economic Laws Practice||117||3|
|12||Weil Gotshal & Manges||1100||2|
|15||Allen & Overy||484||2|