In what will possibly have been its last quarter of existing as a single firm, Amarchand Mangaldas, which topped the the mergermarket M&A league tables in 2014, again acted on the most valuable M&A deals though AZB & Partners emerged as the firm with the largest number of recorded transactions.
AZB, with 15 deals came third in the ranking by the value of deals recorded at $1.7bn, which is less than half of Amarchand’s $5.2bn aggregated from 11 deals.
However, deal value runner up PH Bathiya & Associates with 5 deals, was marginally behind Amarchand’s total deal size. Amarchand and PH Bathiya both acted on the Rs 1,800 crore ($333m) investment into Suzlon by Dilip Shanghvi in March, which also includes a possible Rs 3,800 crore of security by Shanghvi.
AZB, which for the past two years has replaced the previous habitual deal count topper Desai & Diwanji (now on 6 deals in third place), led the volume table in this quarter too.
Luthra & Luthra, J Sagar Associates (JSA) and Trilegal also make an appearance in value and volume charts this quarter.
The market looked up since last year with the top 15 law firms having already closed 20 more deals than in Q1 2014 and the total deal value advised on by the top 15 already being almost three times the Q1 2014 total.
Deal sizes
Amarchand did 11 M&As worth $5.2bn while PH Bathiya did five worth $3.2bn.
AZB with its 15 M&As worth $1.7bn was the only other firm to break the billion dollar barrier last quarter.
Luthra, Vaish Associates, Trilegal, JSA, Khaitan & Co, Crawford Bayley and Krishnamurthy & Co were also in the top 10 deal volume leaders.
Deal count
AZB and Amarchand were the only double-figure deal makers this quarter, in terms of deal count, but in Q1 2014 there were none.
AZB’s 15 deals are more than double the leading deal count in Q1 of 2014, then won by Amarchand.
However Luthra, JSA and Khaitan did fewer but bigger deals than what they had managed this time last year.
Trilegal did four deals, two more since Q1 2014, but Vaish closed just one $842m deal compared to its $632 raked in from two deals in Q1 2014.
International firms: MoFo, Orricks, DLA, Links, Weil on top
Amongst international law firm, Spanish firm Gomez Acebo, with US firms Morrison & Foerster and Orrick Herrington & Sutcliffe topped the value table with a single $2.5bn deal.
DLA Piper, Linklaters and Weil Gotshal & Manges all acted on a $878m deal.
Covington & Burling bagged two deals aggregating to $850m, while Cravath Swaine & Moore acted on one worth $750m.
League Table Based on Value
| Rank | House | Value (US$m) | Deal Count |
|---|---|---|---|
| 1 | Amarchand Mangaldas | 5,239 | 11 |
| 2 | P. H. Bathiya & Associates | 3,156 | 5 |
| 3 | AZB & Partners | 1,753 | 15 |
| 4 | Luthra & Luthra | 923 | 5 |
| 5 | Vaish Associates | 842 | 1 |
| 6 | Trilegal | 595 | 3 |
| 7 | J Sagar Associates | 452 | 4 |
| 8 | Khaitan & Co | 399 | 2 |
| 9 | Crawford Bayley & Co | 349 | 2 |
| 10 | Krishnamurthy & Co | 339 | 1 |
| 11 | Desai & Diwanji | 290 | 6 |
| 12 | Tatva Legal | 218 | 5 |
| 13 | S&R Associates | 113 | 1 |
| 14 | Nishith Desai Associates | 50 | 1 |
| 14 | Platinum Partners | 50 | 1 |
League Table Based on Deal Count
| Rank | House | Value (US$m) | Deal Count |
|---|---|---|---|
| 1 | AZB & Partners | 1,753 | 15 |
| 2 | Amarchand Mangaldas | 5,239 | 11 |
| 3 | Desai & Diwanji | 290 | 6 |
| 4 | P. H. Bathiya & Associates | 3,156 | 5 |
| 5 | Luthra & Luthra | 923 | 5 |
| 6 | Tatva Legal | 218 | 5 |
| 7 | J Sagar Associates | 452 | 4 |
| 8 | Trilegal | 595 | 3 |
| 9 | Khaitan & Co | 399 | 2 |
| 10 | Crawford Bayley & Co | 349 | 2 |
| 11 | Majmudar & Partners | 14 | 2 |
| 12 | Vaish Associates | 842 | 1 |
| 13 | Krishnamurthy & Co | 339 | 1 |
| 14 | S&R Associates | 113 | 1 |
| 15 | Nishith Desai Associates | 50 | 1 |
International firms India deals: By volume
| Rank | House | Value (US$m) | Deal Count |
|---|---|---|---|
| 1 | Gomez-Acebo & Pombo Abogados | 2,500 | 1 |
| 1 | Morrison & Foerster | 2,500 | 1 |
| 1 | Orrick Herrington & Sutcliffe | 2,500 | 1 |
| 4 | DLA Piper | 878 | 3 |
| 4 | Linklaters | 878 | 1 |
| 4 | Weil Gotshal & Manges | 878 | 1 |
| 7 | Covington & Burling | 850 | 2 |
| 8 | Cravath, Swaine & Moore | 750 | 1 |
| 9 | Simpson Thacher & Bartlett | 575 | 1 |
| 10 | Herbert Smith Freehills | 339 | 2 |
| 11 | Desai & Diwanji | 290 | 6 |
| 12 | Gunderson Dettmer Stough Villeneuve Franklin & Hachigian | 230 | 2 |
| 13 | Kirkland & Ellis | 200 | 2 |
| 14 | Debevoise & Plimpton | 135 | 1 |
| 15 | Goodwin Procter | 50 | 1 |
| 16 | Baker & McKenzie | 35 | 2 |
Source: mergermarket
Comments
Ohho.. your details? Might be helpful ;)
Lol.. your comment is funny for sure!! Do not underestimate Desai Diwanji. They might have a foreign entity/ partnership too!
I am kidding, before you people backlash and fire me for being "ignorant" as some GLC and some pravin gandhi named college have been doing recently....
What Crawford Bayley??
You missed an "H" between the "C" and "U" of your name in the title... Well..that apart..Your ignorance may be forgiven. But P.H. Bathiya is doing very well in the M&A market since few years. If it is not a top law firm does not mean it cannot be in the table...
You missed an "H" between the "C" and "U" of your name in the title... Well..that apart..Your ignorance may be forgiven. But P.H. Bathiya is doing very well in the M&A market since few years. If it is not a top law firm does not mean it cannot be in the table...[/quote]
You need this:
http://www.tolearnenglish.com/exercises/exercise-english-2/exercise-english-3647.php
You missed an "H" between the "C" and "U" of your name in the title... Well..that apart..Your ignorance may be forgiven. But P.H. Bathiya is doing very well in the M&A market since few years. If it is not a top law firm does not mean it cannot be in the table...[/quote]
You need this:
http://www.tolearnenglish.com/exercises/exercise-english-2/exercise-english-3647.php[/quote]
Did you just fail it?
I know that platinum follows an express policy of not reporting any of its deals but it can be found out if you dig a little. Same goes for a lot of other firms which don't have the same marketing enthusiasm of some other firms.
I know that platinum follows an express policy of not reporting any of its deals but it can be found out if you dig a little. Same goes for a lot of other firms which don't have the same marketing enthusiasm of some other firms.[/quote]
Well, Kian has just reported on the basis of mergermarket's report. A lot of firms do not give details to a particular survey. There is another entity keeping track of transactions (I cannot remember the name), and it might be possible Platinum Partners provided details there. Some firms do not like advertising or providing details of firms there. You seem to be a junior at Platinum, an intern or someone who is a fresher due to join. If a firm does not provide details does not make it lesser of a good firm. They are just bothered with work than advertising. Also, Platinum Partners may be working on deals, but are you sure all of them have been signed/ closed to be reported?
I do not think Kian or LI has the time to dig into 50-100 firms and their deals. He has only referred to Merger market and their report. I guess you tell mergermarket to "dig a little" for your satisfaction.
If any firm has done deals, such agencies like mergermarket etc, pick them up, know of it, whether you bring to their notice or not! So many sources,bankers, other law firms, company announcements, media, their own research etc
One doesn't need marketing enthusiasm only, you need to do the deals first, second ensure it fulfils deal criteria, then only you get doughnuts. For all you know that deals are not being done, but folks would like to see their names here. Convenient aint it?
@ Phantom - fully agree with you, legallyindia only reported from MM, and they should not be obliged to dig anywhere.
@ yes really - why so serious. i dont think what you are saying is correct. There are several instances where law firm names for deals are not picked up. But i will admit, this is when the law firms seriously practices its policy not to disclose. The deals are being done and the doughnuts are being eaten, just that the neighbours are not invited for the show. Even more convenient.
True... some people just do not get it!! TTA or Tatva for that matter too!
If any firm has done deals, such agencies like mergermarket etc, pick them up, know of it, whether you bring to their notice or not! So many sources,bankers, other law firms, company announcements, media, their own research etc
One doesn't need marketing enthusiasm only, you need to do the deals first, second ensure it fulfils deal criteria, then only you get doughnuts. For all you know that deals are not being done, but folks would like to see their names here. Convenient aint it?[/quote]
I do not think you know how it works. Control your enthusiasm! You are free to suggest to mergermarket on how they should be going about their business...
where to go??? China
where to go??? China[/quote]
This brother-sister duo is seriously kicking some ass in the market!!
May be a tad late, but this firm has been inching to the top gradually. With 12 partners across board, what a growth in the last 5 years! Guess moving out of Bangalore and setting up shop in Mumbai is richly paying off for Naina. Also, K Law finally seems to have found a way to hire and retain talent for the long term. Good to see that.
All the best, Naina & Nikhil!!
As for wadia: while majority have been relishing the erroneous conclusion that it's end of an era and what not,one should not ignore that 1. Real estate & litigation is strong as ever. 2. While it's reeling from big ticket attrition from corporate and litigation department the new lateral (partner designate ) hires (from almt and likes have not been reported) 3. Pay scales are on upward revision once again. 4. Bengaluru office is about to reopen as against what it was reported before.
And their litigation practice is extremely strong so the thought of an end of an era is laughable at the very best. It's going through a tough time following the death of anand bhatt in terrorist attacks and few big ticket attrition but it's far from over.
As for wadia: while majority have been relishing the erroneous conclusion that it's end of an era and what not,one should not ignore that 1. Real estate & litigation is strong as ever. 2. While it's reeling from big ticket attrition from corporate and litigation department the new lateral (partner designate ) hires (from almt and likes have not been reported) 3. Pay scales are on upward revision once again. 4. Bengaluru office is about to reopen as against what it was reported before.
And their litigation practice is extremely strong so the thought of an end of an era is laughable at the very best. It's going through a tough time following the death of anand bhatt in terrorist attacks and few big ticket attrition but it's far from over.[/quote]
Please.. we all know the state Wadia is in right now.. Their M&A practice is no where even comparable... I am not talking about real estate etc... They are doing okish in Real Estate and Litigation.. but M&A.. please.. wake up...
AZB seems more in the volume game as opposed to value, 15 deals great but all smaller deals of about USD 100 million odd or abouts.
KCo so low in the food chain, and claims to be a tier 1 firm in India, just a scam, as always and only they marketing gimmick. Facts like these give a better picture to one and all !
Good to see firms like PH Bhatiya & Tatva Legal here, they must be doing somethings right for sure.
There is clear blue ocean divide, with Amarchand & AZB and the rest of the law firms, would be interesting to see, how it plays out once the former becomes 2 firms in India in due course!
http://www.legallyindia.com/201402034307/Legal-opinions/law-firm-league-tables-explained
pata nahi kis manhoos ki nazar pad gayee hai.. pichle do mahine se tabiyat kharaab rehta hai..bahut saare karan hai kabhi Client se peetai..kabhi biwi ki chik chik..bas ye hi ek matra jagah hai jahan dil ko tasalli aur mann ko shanti milti hai. jab bhi main legally India pe aisey rang birangee pie-charts aur Venn Diagrams dekhta hoon to ek baar fir dil jeeney ko karta hai.. lagta hai ummid ab bhi baanki hai. main sochta hoon ki ekdin mere law practice ki bhi aisey pie-charts banengey..aur mere baare mein bhi log farratey-dar angrezi mein galli gallouj karenge.. uss din mere jeevan mein jhil mil sitaroon ka aangan hoga aur rimjhim barasta sawan hoga..
Check league tables anywhere, why depend on Kian if he has missed PF will pick up again 2 years, put PF on mind then[quote name="Project Finance"]Kiran....What about Dealogic Project Finance Q1 2015[/quote]
Patience, let Christmas come