Deals of the Year 2008

At the end of a tumultuous year, India Business Law Journal celebrates the top transactional achievements of 2008 and the law firms that made them happen. Chris Crowe reports from London

India’s transactional clout was drastically reined in by the gloom of economic uncertainty and the subsequent global financial crisis. After the blockbuster initial public offerings of 2007, there was only one substantial offering on the Bombay Stock Exchange and National Stock Exchange of India during 2008. Similarly, while in 2007, Tata Steel, ArcelorMittal and others spent billions acquiring overseas assets, 2008 may seem disappointing in comparison.

Yet in a year that will be remembered by many for the onslaught of the global financial crisis and the horrific November terrorist attacks on Mumbai, India has made great strides in its economic development. While the total volume of deals may have fallen, many landmark transactions were brought to fruition during 2008, several of which set new standards in terms of their value, complexity, innovative structuring and international scope.

In its second annual Deals of the Year awards, India Business Law Journal is proud to celebrate these immense achievements. In a unique and extremely challenging period for international business, the skill, vision and foresight of the corporate leaders and legal professionals who crafted and brought to fruition this year’s winning deals is to be recognized and applauded.