Allen & Overy and White & Case were the top mergers and acquisitions (M&A) legal advisers in the Middle East & African region by value and volume, respectively, during the first three quarters (Q1-Q3) of 2023, according to the latest legal advisers league table by GlobalData, which ranks legal advisers by the value and volume of M&A deals on which they advised.

Based on its Financial Deals Database, the leading data and analytics company reveals that Allen & Overy achieved the top position in terms of volume by advising on $8.9 billion worth of deals. Meanwhile, White & Case led in terms of volume by advising on a total of 12 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “White & Case was the top adviser by volume in Q1-Q3 2022 and managed to retain its leadership by this metric in Q1-Q3 2023 as well. It was the only adviser with double-digit deal volume during Q1-Q3 2023. Apart from leading by volume, White & Case also occupied the second position by value.

“Meanwhile, Allen & Overy experienced an improvement in its ranking by value during Q1-Q3 2023 compared to Q1-Q3 2022. Interestingly, despite witnessing a decline in deals volume, Allen & Overy saw massive jump in deal value. The average value of deals advised by it increased from $221.7 million in Q1-Q3 2022 to $1.5 billion in Q1-Q3 2023. Apart from leading by value, it also occupied the second position by volume.”

An analysis of GlobalData’s Financial Deals Database reveals that White & Case occupied the second position in terms of value, by advising on $7.7 billion worth of deals, followed by  Latham & Watkins with $4.9 billion, Arthur Cox with $3.6 billion, and Fangda Partners with $3.6 billion.

Meanwhile, Allen & Overy occupied the second position in terms of volume with six deals, followed by Asafo & Co. with five deals. Meanwhile, Baker McKenzie and Nortons Incorporated jointly occupied the fourth position in terms of volume by advising on five deals each.