Cyril Amarchand Mangaldas(CAM) topped the Venture Intelligence League Tables for Legal Advisors to M&A transactions in 2016 advising deals with a value tag of $25.8 billion (across 38 qualifying transactions). CAM was followed by J Sagar Associates(JSA) which advised deals worth $15.5 billion (across 37 deals) and AZB & Partners ($13.8 billion across 50 deals).
The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms.
CAM advised M&A deals during the period included the merger of Max Life and HDFC Life and the $1.4 billion acquisition of cement assets of Lafarge Holcim by Nirma. Transactions advised by JSA included the $1.6 billion acquisition of a majority stake in telecom tower arm of Reliance Communications by Brookfield and the acquisition of Essar Oil by Rosneftatan enterprise value of $13 Billion. AZB advised deals included the $1.37 billion acquisition of Weslpun Renewable Energy by Tata Power and the $1.2 billion acquisition of Alliance Tire Group by Yokohama Tire Corporation.
International law firm Slaughter & May ($11.3 billion across 2 deals) and Khaitan & Co.(KCO) ($10.5 billion across 46 deals) completed the top five for 2016.
AZB topped the tables in terms of deal volume, while KCO and CAM rounded up the top 3 slots. JSA and Shardul Amarchand Mangaldas (SAM) ($9.3 billion across 37 deals) finished the year at fourth spot while Luthra & Luthra ($3.1 billion across 28 deals) took the fifth spot in terms of quantum of deals advised.
Platinum Partners advised two PE deals worth $1.5 billion involving Information Technology (IT) focused companies, followed by Samvad Partners ($1.3 billion across six deals) and SAM ($1.2 billion across six deals). SAM topped the BFSI deal table advising nine deals with a value tag of $4.1 billion, followed by AZB ($3.8 billion across 10 deals) at second spot while Majmudar & Partners and S&R Associates – who advised the MAX Life and HDFC Life merger – finished at third spot.
JSA topped the Infrastructure deals table, advising eight deals worth $15 billion. CAM (15 deals worth $14.8 billion) and Slaughter & May ($11.3 billion across 2 deals) completed the top 3 slots.
KCO led the Healthcare deals table advising 10 deals with a value tag of $1.53 billion whereas CAM (six deals worth $1.3 billion) and Simpson Thacher & Barlett (Gland Pharma – Fosun Pharma worth $1.26 billion) accounted for the second and third spots. Among Education deals, AZB (ChhayaPrakashani – S Chand & Co worth $25 million) led the table while the second spot was claimed by IndusLaw, Nishith Desai Associates and Samvad Partners (who advised the $8 million majority acquisition of Edupristine by Kaizen PE and Devry). JSA which advised the acquisition of ThinkLABS by FitKids finished at third spot.
New entrants to the Venture Intelligence League Table Legal Advisors for M&A deals during the year included Spice Route Legal, CounsePro – Formerly Menon Associates, and TRA Law.
Venture Intelligence is India’s longest serving provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India.