28 Jan 2022
Posted in Automotive
Paul Weiss Rifkind Wharton & Garrison and Kirkland & Ellis were top M&A legal advisers by value and volume in automotive sector for 2021, finds GlobalData
Paul Weiss Rifkind Wharton & Garrison and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal advisers in the automotive sector for 2021 by value and volume, respectively, according to GlobalData’s Financial Deals Database. The leading data and analytics company notes that Paul Weiss Rifkind Wharton & Garrison advised on five deals worth $13.6 billion, which was the highest value among all advisers tracked. Meanwhile, Kirkland & Ellis led by volume, having advised on 13 deals worth $9 billion. A total of 915 M&A deals were announced in the sector during year 2021.
According to GlobalData’s report, ‘Global and Automotive M&A Report Legal Adviser League Tables 2021’, deal value for the automotive sector increased by 108.1% from $40.5 billion in 2020 to $84.3 billion in 2021.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Kirkland & Ellis and Baker McKenzie were the only two advisers to report double-digit deal volume. However, due to its involvement in deals with relatively low value, Kirkland & Ellis had to settle for fifth position by value.
“Meanwhile, Paul Weiss Rifkind Wharton & Garrison—which advised on less than half the number of deals advised by Kirkland & Ellis—managed to top the list by value due to its involvement in big-ticket deals. The average size of deals advised by Paul Weiss Rifkind Wharton & Garrison stood at $2.7 billion, while it stood at just $689 million for Kirkland & Ellis.”
Sullivan & Cromwell occupied the second position in terms of value, with four deals worth $12.6 billion; followed by Davis Polk & Wardwell, with three deals worth $12.5 billion; and Weil Gotshal & Manges, with five deals worth $10.7 billion. Kirkland & Ellis occupied fifth position by value.
Baker McKenzie occupied the second position in terms of volume, with 11 deals worth $5.1 billion; followed by CMS, with nine deals (deal value not disclosed); and Latham & Watkins, with six deals worth $4.7 billion. Paul Weiss Rifkind Wharton & Garrison occupied the fifth position by volume.