INDIAN law firms are increasing their presence internationally, which is reflected in the number of private equity deals they have advised in the past year. Top league legal firm AZB & Partners has advised four private equity deals, while DSK Legal and Trilegal have each advised three private equity buyers, leading to their being ranked amongst the top 10 law firms in the Asia Pacific region, said a study by data provider Mergermarket.
The Mergermarket league table has ranked AZB in the third position, while DSK and Trilegal are in the eighth and ninth places, respectively. The value of the private equity deals that the three Indian firms did were $67 million, $61 million and $29 million, respectively. Interestingly, the largest deals were done by Japanese firm Nagashima Ohno & Tsunematsu and Korean firm Kim & Chang which advised deals as big as $1.83 billion and $1.26 billion, respectively.
"There continues to be interest in investing in India, so while the number of deals have gone down, transactions are still happening,” said DSK partner Anand Desai. “In fact, there is a growing interest to complete deals and we are currently assisting on several deals. We have assisted in as many as 50 PE funds on deals over the last four years, including international deals.”
According to Trilegal partner Anand Prasad, “After some initial uncertainty in December and January, the pipeline has begun to look robust again. “The deal sizes however have shrunk and investors have become conservative in their dealings,” he added. This could likely last for another 8-12 months. “These deals have essentially been in the M&A, private equity, banking, power and infrastructure and telecom space. Most deals were cross border where we represented overseas clients,” Mr Prasad added.
While AZB & Partners advised four PE deals, DSK Legal & Trilegal advised three PE buyers each Japanese firm
Nagashima Ohno & Tsunematsu, and Korean firm Kim & Chang advised deals as big as $1.83 b and $1.26 billion, respectively.
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