AZB & Partners buys out Bangalore law firm

AZB & Partners buys out Bangalore law firm
Comment E-mail Print Share
First Published: Tue, Jul 28 2009. 12 36 AM IST
Updated: Tue, Jul 28 2009. 12 36 AM IST
Mumbai: Mumbai-based law firm AZB & Partners has acquired Bangalore-based Anup S. Shah Law Firm in a bid to strengthen its operations in southern India, a partner at AZB told Mint on Monday.
“With this merger, AZB & Partners will have one of the largest and finest full service presence in Bangalore from amongst the pan-Indian law firms,” said Abhijit Joshi of AZB & Partners..”Considering the emphasis that we have always placed on quality, this merger will result in us achieving even higher standards of quality to surpass client expectations”
However, he declined to reveal the value of the transaction.
After the acquisition, Anup S. Shah, after whom the law firm is named, will join AZB as an equity (profit sharing) partner. With him, the number of equity partners in AZB will go up to 19.
AZB’s presence in the southern market took a hit following the departure of Bangalore partners Murali Ananthasivan and Vivek K Chandy. After parting ways with AZB, Ananthasivan and Chandy started their own frim, M&C Partners which they ran until earlier month, when they joined hands with J. Sagar Associates, a legal service firm that competes with AZB in the M&A and corporate practice space.
The merger will expand AZB & Partners presence in the region, along with offices in Hyderabad and Chennai.
Anup Shah will bring in an number of real estate clients, including listed companies Sobha Developers and Purvankara to the AZB fold. “We have a strong presence in the real estate space. Post the merger, we will be able to offer an entire range of services to our clients, like corporate services, FEMA etc. which we were not able to offer earlier,” Shah said. He added that AZB would also benefit from his firm’s thriving commercial documentation practice.
Shah, a lawyer of 28 years, will bring with him 2 partners and about 15 associates, swelling the strength of AZB’s Bangalore office to about 40 lawyers, including five partners, Joshi said.
AZB & Partners, which has about 330 employees including an integrated team of at least 240 legal professionals across Mumbai, Delhi (Noida) and Bangalore, offers a combination of legal and transactional expertise and broader market sector knowledge.
AZB ’s domestic and international clients include both private and listed companies, including Fortune 500 firms, multinationals, investment banks and private equity funds.
Comment E-mail Print Share
First Published: Tue, Jul 28 2009. 12 36 AM IST