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Mergermarket Q1 2016: Cyril Amarchand tops deal value table, Khaitan has most deals

Mergermarket Q1 2016: Cyril Amarchand tops deal value table, Khaitan has most deals

Aditya AK

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.

Deal Value

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.

RankFirmDeal Value ($million)Deal Count
1Cyril Amarchand Mangaldas32007
2Vaish Associates24602
3AZB & Partners206610
4=Latham & Watkins12801
6Weil Gotshal & Manges11002
8Khaitan & Co93415
10Herbert Smith Freehills9001
12Nishith Desai Associates7703
13Shearman & Sterling6703
14Allen & Overy4842
15Shardul Amarchand Mangaldas4796

Deal Count

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.

RankFirmDeal Value (in $million)Deal Count
1Khaitan & Co93415
2AZB & Partners206610
3Cyril Amarchand Mangaldas32007
4Shardul Amarchand Mangaldas4796
6Veritas Legal854
8Nishith Desai Associates7703
9Shearman & Sterling6703
10Economic Laws Practice1173
11Vaish Associates24602
12Weil Gotshal & Manges11002
15Allen & Overy4842