20 Asian Legal Business | September 2024 Asia M&A Rankings 2024 • Simpson Thacher & Bartlett • Sullivan & Cromwell • Weil, Gotshal & Manges TIER 3 • Ashurst • Deacons • Debevoise & Plimpton • Gibson, Dunn & Crutcher • Hogan Lovells • King & Wood Mallesons • Mayer Brown • Morrison & Foerster • Paul, Weiss, Rifkind, Wharton & Garrison • Reed Smith Richards Butler • White & Case NOTABLE FIRMS • Akin Gump Strauss Hauer & Feld • Bird & Bird • Charltons • Cleary Gottlieb Steen & Hamilton • CMS • Dechert • Dorsey & Whitney • Eric Chow & Co. in Association with Commerce & Finance Law Offices • Eversheds Sutherland • Fangda Partners • Gallant • Goodwin • GPS Legal • H.M. Chan & Co. (Taylor Wessing) • Howse Williams • K&L Gates • Milbank • Minter Ellison • MMLC Group • Morgan, Lewis & Bockius • Oldham Li & Nie • O’Melveny • Paul Hastings • Proskauer Rose • Ropes & Gray • Seyfarth Shaw • Sidley Austin • Simmons & Simmons • Stephenson Harwood • Stevenson Wong & Co • Tanner De Witt • Vivien Chan & Co • Wilson Sonsini Goodrich & Rosati • YYC Legal India TIER 1 • AZB & Partners • Cyril Amarchand Mangaldas • IndusLaw • JSA Advocates & Solicitors • Khaitan & Co. • Luthra & Luthra Law Offices • S&R Associates • Saraf and Partners • Shardul Amarchand Mangaldas & Co • Talwar Thakore & Associates (TT&A) • Trilegal TIER 2 • Anagram Partners • Argus Partners • Bharucha & Partners • Dentons Link Legal • Desai & Diwanji • DSK Legal • Economic Laws Practice (ELP) • HSA Advocates • Kochhar & Co. • Majmudar & Partners • Nishith Desai Associates • P&A Law Offices • Phoenix Legal • Quillon Partners • Resolut Partners • Samvad Partners • Touchstone Partners • Vaish Associates, Advocates • Veritas Legal TIER 3 • ALMT Legal • Chandhiok & Mahajan, Advocates & Solicitors • Clasis Law • Fox & Mandal • Fox Mandal & Associates • Juris Corp • Krishnamurthy & Co. (K Law) • Lakshmikumaran & Sridharan Attorneys • Rajani Associates • Sarthak Advocates & Solicitors • Singhania & Partners • Spice Route Legal • Tatva Legal • Vertices Partners • Wadia Ghandy & Co NOTABLE FIRMS • Aekom Legal • Ahlawat & Associates • AKS Partners • AnantLaw • Archer & Angel • Begur & Partners • Burgeon Law • Dhir & Dhir Associates • Dua Associates • Gravitas Legal • Hammurabi & Solomon Partners • King. Stubb & Kasiva • LexCounsel • Maheshwari & Co. Advocates and Legal Consultants • Mansukhlal Hiralal & Co • NovoJuris Legal • Pioneer Legal as the hub for Southeast Asia, with unprecedented inbound foreign direct investment by international names, the Straits Times reported. The string of marquee deals in the second quarter include Singtel-KKR consortium agreeing to invest $1.75 billion in ST Telemedia (STT) Global Data Centres, Allianz offering $1.6 billion for a majority stake in Income Insurance, Shell acquiring liquefied natural gas trader Pavilion Energy from Temasek, a new $.7.8 billion semiconductor joint venture between Vanguard International Semiconductor Corporation and NXP Semiconductors, and OCBC’s $1 billion unconditional general offer to buy stake in Great Eastern Holdings. In Southeast Asia’s private equity market, Singapore maintained its lion’s share of deals despite an overall drop in deal activity, securing $3.7 billion out of a total of $9 billion PE deals in the region in the first half of the year, a Bain & Company report found. The island nation also led in deal volume, picking up 62 of the 109 deals done across the region. Notably, Singapore continues to see a steady growth in fintech deals, amid a global decline in the industry. The Singapore government’s policy of effectively recognising digital rights, regulating the decentralised nature of financial technology, and creating a robust risk management framework is placing it ahead of other Western competitors as an investment hub. The cryptocurrency and blockchain segments of Singapore’s fintech market recorded $211.90 million across 72 deals in the first half of 2024, a 22 percent uptick from the $166.30 million over 38 deals recorded in the second half of 2023, KPMG reported. “Singapore’s main advantages relate to how quickly and efficiently deals can get done – the laws are clear, and where approvals are needed, these tend to be processed quickly and the outcomes are often predictable.”
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