Law firms Allen & Overy and White & Case were ranked the top mergers and acquisitions (M&A) legal advisers in the Middle East and Africa in 2023, by value and volume respectively, according to the latest legal advisers league table by research and analysis company GlobalData.
White & Case led with deal volume by advising on a total of 17 deals, according to GlobalData’s deal database.
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Allen & Overy achieved its lead position in terms of value by advising on $12.3bn worth of deals.
Aurojyoti Bose, lead analyst at GlobalData, said: “Allen & Overy was the only adviser to surpass the $10bn mark in total deal value in 2023.”
“It registered a significant jump in the total value of deals advised in 2023 compared to 2022 and resultantly went ahead from occupying the 17th position by value in 2022 to top the chart in 2023,” Bose added.
Of the 13 deals advised by Allen & Overy during 2023, six were billion-dollar deals, according to Bose.
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By GlobalData“It is noteworthy that White & Case and Allen & Overy were the only two advisers with double-digit deal volume in 2023,” Bose added.
In February 2023, Allen & Overy became the first law firm in the world to deploy generative AI at enterprise level.
According to the company, over 3,000 of their lawyers use OpenAI’s GPT-4-based tools in their day-to-day work.
