26 January 2009 by Cliffe Dekker Hofmeyr

Cliffe Dekker Hofmeyr tops the South African M&A league tables in 2008

Cliffe Dekker Hofmeyr was ranked as the top South African law firm by deal value, according to mergermarket, a division of the Financial Times Group. The leading mergers and acquisitions (M&A) intelligence service this month released its annual league table rankings, announcing an impressive year for Cliffe Dekker Hofmeyr. The firm worked on 19 deals valued at US$11.5bn and as a result topped the M&A value tables.

Cliffe Dekker Hofmeyr advised Remgro in the de-tangling of cross holdings between SA's Remgro Limited and Luxembourg based Reinet Investments, which included the largest deal of the year – the split of Remgro's 9.6% stake in British American Tobacco valued at $6,9bn, and a second transaction valued at US$772m.

In other large deals, Cliffe Dekker Hofmeyr advised Vodacom on its BEE transaction to the value of US$982 and on its acquisition of Gateway Telecommunications, valued at US$675m.

Mergermarket's mergers & acquisitions (M&A) intelligence service based its data on transactions over US$5m announced between 1 January and 31 December 2008. Cliffe Dekker was ranked as the second most active SA law firm on deal volume in 2008.

The firm also dominated the mid-market tables (based on deal value range of US$10m – US$250m), leading both the value and volume of deals with 12 deals valued at $1.3bn.

National head of Cliffe Dekker Hofmeyr's corporate and commercial practice, Ian Hayes said that the firm's impressive performance and improved rankings, from eighth position in 2007, is testament to the strength of the firm's M&A practice.

"We are extremely proud of our performance, which recognises the huge strides we have made since merging the combined strengths of Cliffe Dekker and Hofmeyr Herbstein & Gihwala last year. As Cliffe Dekker Hofmeyr, we now have one of the largest corporate and commercial practices in South Africa with more than 60 qualified lawyers.

The league table rankings reinforce our approach to offering specialist legal expertise to meet the growing business needs of our clients," Hayes said.

Read more in the attached press release: mergermarket South African M&A Round-up for Year End 2008, 15 January 2009.

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