Top legal advisers by value and volume in global retail sector in H1 2020 revealed

3 August 2020 (Last Updated October 28th, 2020 12:16)

Freshfields Bruckhaus Deringer and Jones Day were noted to be the top mergers and acquisitions (M&A) legal advisers in the global retail sector in the first half (H1) of 2020, based on deal value and volume, respectively, according to GlobalData.

Freshfields Bruckhaus Deringer advised on six deals worth $12.66bn, which was the highest among all the advisers. Meanwhile, Jones Day led in volume terms having advised on ten deals worth $144.65m during H1.

GlobalData financial deals analyst Aurojyoti Bose said: “Jones Day was the only firm to advise on double-digit deal volume but surprisingly it did not even feature among the top ten advisers by value. There was a wide disparity in deal value between the top adviser by value and volume.

“Meanwhile, the average deal size for Freshfields Bruckhaus Deringer stood at $2.1bn, it was just $14.47m for Jones Day. Freshfields Bruckhaus Deringer’s involvement in big-ticket deals such as Charoen Pokphand Group’s acquisition of Tesco’s operations in Thailand and Malaysia for $10.6bn helped it secure the top position by value, while Jones Day lagged behind due to involvement in low-value transactions.”

Allen & Overy occupied the second position by value with five deals worth $12.12bn followed by Linklaters with four deals worth $12.1bn. CMS occupied the second position by volume with eight deals worth $93.93m followed by Latham & Watkins with seven deals worth $899.9m.

Bose adds: “Akin to Jones Day, these two firms also failed to make it to the list of top ten advisers by value.”

The number of deals announced in the global retail sector decreased by 20.26% from 1,239 in H1 2019 to 988 in H1 2020.

Deal value, however, increased by 7.96% from $45.97bn in H1 2019 to $49.63bn in H1 2020.

Freshfields Bruckhaus Deringer, which topped the retail sector deals league table by value, also stood at the top position (by value) in GlobalData’s recently released global league table of top 20 M&A legal advisers.

Jones Day, which topped the retail sector league table by volume, occupied the second position (by volume) in the global league table.

GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available on the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.

To ensure further robustness to the data, the company also seeks submissions from leading advisers, through adviser submission forms on GlobalData’s website.