Singapore based Thomson Reuter’s entity the Asian Legal Business (ALB) in their September 2016 issue has released the “ALB Annual M&A Rankings 2016” featuring the best law firms for M&A in Asia and Cyril Amarchand Mangaldas ranked as ‘Tier 1’ law firm for M&A in India.
The editorial write up by ALB about India can be seen below for your ready reference:
“Indian M&A deal volume in the first half of this year was up by 12 percent year on year to reach $15.7 billion, despite a lower number of deals being announced, according to data from Grant Thornton India. During this period, a total of $7 billion in cross-border deals were announced, with $3.9 billion represented by outbound deals. The $3.1 billion of inbound deals marked a decline from H1 2015.
The growth in outbound deals suggests higher confidence among Indian corporations regarding overseas investment opportunities. The largest acquisition in H1 was made by Indian Oil Corp, Oil India and a subsidiary of Bharat Petroleum Corp, who together bought a 29.9 percent stake in Russia’s Siberian TaasYuryakh oilfield for $1.3 billion. Another major acquisition was IT services company Wipro’s purchase of U.S.-based HealthPlan Services from Water Street Healthcare Partners for $460 million.
Domestically, the largest deal this year so far was the July acquisition of Jaypee Group’s cement assets by UltraTech Cement for $2.4 billion. Approximately one quarter of total M&A volume consisted of consolidation among Indian startups looking to shore up their position in the highly competitive technology sector. The energy, natural resources, manufacturing and IT sectors saw the most deal activity in H1 2016, combining to account for nearly 60 percent of total volume.
M&A rankings of Indian legal firms remained more or less unchanged over the past year, with Trilegal jumping to Tier 1 from Tier 2, and Kochhar & Co rising to Tier 2 from Tier 3. In terms of volume, Cyril Amarchand Mangaldas led Indian law firms in H1 2016 with more than $6.2 billion spread over 17 deals, followed by AZB & Partners with $4.5 billion from 25 deals and Vaish Associates Advocates logging $2.5 billion from only two deals”
Further for your information, the rankings were based on the following metrics: • The volume, complexity and size of work undertaken • Presence across Asia and in individual jurisdictions • Key personnel hires and growth of the practice group • Key clients and new client wins • Firm’s visibility and profile in the region • The research covered the period spanning from July 2015 to July 2016. This included both ongoing work and matters that were closed during this timeframe. ALB drew results from law firm submissions, Thomson Reuters M&A data, interviews, editorial resources and market suggestions to identify and rank the top firms for M&A in Asia.