AZB, E&Y top PE and M&A league table

Corporate law firm AZB & Partners has topped the Venture Intelligence India League Tables as the most active legal advisor for both private equity (PE) and mergers and acquisition (M&A) deals ? advising a total of 50 transactions ? in the first six months of 2010. Ernst & Young topped the League Tables as the most active transaction advisor (both PE and M&A) for the half year.

The Venture Intelligence League Tables, first such initiative exclusively tracking transactions involving India-based companies, are based on volume of PE and M&A transactions advised by transaction and legal advisory firms.

Among PE transactions, AZB advised 25 deals worth over $1.5 billion during the period including Olympus Capital?s $300 million investment in Tata Power?s coal mine SPVs in Indonesia, the $217 million investment by Standard Chartered PE, KKR and New Silk Route in Coffee Day Resorts and the $175 million investment by Temasek in the National Stock Exchange. Other legal advisors who advised a significant number of PE transactions during the period include ALMT Legal and J Sagar Associates with seven deals each.

Ernst & Young advised five PE deals worth $276 million during the period, including Bain Capital and TPG Growth?s $86 million investment in Lilliput Kidswear, Warburg Pincus? $85 million investment in Metropolis Healthcare and Actis? $78 million investment in Tata Realty and Infrastructure?s road project SPV. Other transaction advisors who advised a significant number of PE deals during first half of 2010 include Intellecap (3), Veda Corporate Advisors (3) and Edelweiss (2).

On the M&A deals side, AZB advised 25 deals worth almost $13 billion during the period, including the Bharti?s acquisition of Zain?s African operations, Jindal Steel?s acquisition of Oman?s Shadeed Iron & Steel and American Tower Corp?s acquisition of Essar Telecom Infrastructure. Other legal advisors who advised a significant number of M&A transactions during the period include Tatva Legal (11 deals) and Trilegal (8).

Ernst & Young advised 12 M&A deals worth almost $14 billion during the period, including GTL?s acquisition of Aircel?s tower business, Kalanidhi Maran?s bid for SpiceJet and Bharti?s acquisition of Zain?s African operations. Other transaction advisors who had advised a significant number of M&A deals during the period include Kotak (6 deals), Standard Chartered (5) and Deloitte (6), said a statement here on Wednesday.