Tuesday, November 16, 2010
M&A activity involving Indian firms has been very active since economic liberalization opened up the Indian markets. As I note in my forthcoming paper, the rise in Indian M&A activity includes a rapid expansion of outbound acquisitions by Indian firms. Indian firms' outbound M&A activity gained traction beginning around 2000, and gained considerable speed in 2005. Now, rarely a week goes by without some story on an outbound deal by an Indian firm.
The Deal magazine has a story this week on one of India’s leading M&A lawyers, Zia Mody. For those who do not know her, Ms. Mody is described in the story as follows:
“To fully understand Zia Mody's standing in the ranks of the Indian M&A legal fraternity, think of Marty Lipton, the legendary co-founder of Wachtell, Lipton, Rosen & Katz. Now clone him several times over. And make him a woman. And Indian.
It's difficult to find a major India-related M&A transaction in which Mody isn't involved. That's especially true for Indian transactions with an important international component, whether inbound or outbound. Mody, 54, has emerged in India as a critical legal interpreter of corporate transactions, guiding Indian firms overseas and foreign capital into India.”
Ms. Mody is certainly legendary in Indian corporate law circles. Given the extent of cross-border transactions involving Indian firms, her name may become as ubiquitous as that of Marty Lipton outside of India as well.