Spain - Corporate/M&A Lawyers & Law Firms - Europe - Chambers and Partners
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Europe Guide

Corporate/M&A — Spain


Clifford Chance LLP - Corporate/M&A Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

What the team is known for Highly respected international firm handling some of the most complex corporate transactions in the Spanish market. Notably active in key transactions that follow the trend towards consolidation of the telecoms and Spanish banking sectors. Attracts further attention for work on real estate acquisitions in the hotel and retail sectors. Proves particularly popular amongst international clients due to strong cross-border capabilities and a leading acquisition finance team based locally in Madrid.

Strengths "They put a lot of effort into our deals; they are tireless in negotiations, work late nights and are in the office at 7am the next day," says one client.

"They are dedicated, available and work well in English," notes another impressed interviewee.

Work highlights Assisted MÁSMÓVIL Ibercom with its EUR612 million acquisition of Yoigo. The firm advised on a cash offer for the majority stake held by TeliaSonera, a convertible debt instrument offered to Yoigo's minority shareholders and various financing arrangements that included equity and convertible bond issuances and a syndicated loan facility.

Advised WiZink on its programme of expansion in the Iberian peninsula through the acquisition of Barclaycard in Spain and Portugal and Banco Popular's Portuguese credit and debit card business.

Notable practitioners

Interviewees highlight Javier García de Enterría's valuable technical contributions to the structuring of corporate transactions. "It is extremely helpful to discuss with him the really complex legal issues there might be at the outset," says one source. He advised Värde Partners on its acquisition of 40% of La Finca Global Assets.

Javier Amantegui is well known to peers for his key role both in corporate and private equity-driven transactions. He led the firm's advice to Cinven on its acquisition of Tinsa from Advent International. Clients highlight his negotiating skills, saying: "He knows when he has to be soft or when to be tough." "He has a good understanding of everything that is going on in our transaction and follows up on all of the issues," notes another interviewee.

Jaime Velázquez earns considerable praise from peers for his role on several of the firm's key M&A mandates. "He has really good judgement and gives proactive solutions and ideas," says one client, adding: "He is really efficient and manages to get work moving forward quickly." Velázquez headed the combined corporate, real estate and public law team that advised Carrefour on its acquisition of a portfolio of shopping centres and petrol stations from Eroski.

José María Fernández-Daza has significant experience in M&A transactions, including in the energy sector.

Peers note Luis Alonso's growing profile in the Spanish market. He has played an important role in the firm's major telecoms and banking sector transactions. Clients highlight his "great knowledge of our business, personal involvement and great negotiation skills."

Samir Azzouzi enters the rankings owing to superb praise for his corporate work predominantly on behalf of private equity firms. "He is clearly a rising star in corporate law in Spain," says one client, whilst another notes: "He is hard-working, hands-on and helpful." "He is an excellent lawyer both in terms of his technical ability and his interpersonal skills," says one impressed interviewee.

About the Team (content provided by Clifford Chance LLP )

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Cuatrecasas - Corporate/M&A Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

What the team is known for Acts on a huge volume of high-value and mid-cap transactions through leading offices in Barcelona, Madrid and numerous smaller Spanish cities. Cross-border matters remain a particular area of expertise, with notable recent success in attracting roles on both inbound and outbound investments between Spain and Mexico. Has significant experience in real estate, energy and infrastructure-related issues. Also handles transactions in the banking and insurance sectors.

Strengths Clients highlight the lawyers' reliability, saying: "If they say that they will have something done by tomorrow at 9 you can sleep soundly, because tomorrow at 9 you will always have what they promised."

"They have the knowledge, the background, the team, the experience and a friendly and practical approach," reports one client.

Work highlights Advised Grupo Multitel on the structuring of its participation in the ALTÁN Redes consortium and on the subsequent winning bid for the Red Compartida telecoms project in Mexico.

Advised TeliaSonera on the sale of its majority stake in Yoigo to MÁSMÓVIL Ibercom.

Notable practitioners

Federico Roig is popular among peers for his work on energy and telecoms transactions, often on behalf of financial services clients. "It is easy to work with him because he is smart and fights for the relevant points," says one source. "He looks to find solutions so that the deal can happen," notes another interviewee, adding: "He lets the client know the risks of the transaction but is super-constructive."

Clients value Javier Villasante's willingness to give clear advice, saying: "With him the answer is either yes or no, 'do it' or 'don't do it'." He handles cross-border M&A transactions for many of the firm's major infrastructure clients, as showcased in advice to Cintra Infraestructuras on the sale to Dif of significant shareholdings in Portuguese highways concessionaires AutoEstradas Norte Litoral and Via do Infante. Villasante is one of the key drivers behind the firm's activity in the Mexican market.

Highlight mandates for Víctor Xercavins include his advice to Caixabank on its EUR904 voluntary takeover offer for 55.9% of Portuguese-listed Banco BPI. "He is an excellent negotiator and clearly understands where the risks are in an M&A transaction," reports one client, while another highlights Xercavins's "business-oriented and practical approach."

Raimundo Segura has considerable experience in international M&A transactions for Spanish family businesses and corporates. Clients say that he is reliable, efficient and has the "ability to quickly get to the important issues in contractual negotiations."

Peers expect Juan Aguayo to play an increasingly prominent role on the firm's public M&A and ECM mandates. "He doesn't overcomplicate things but rather is responsive, commercial and makes my life easier," states one impressed client.

About the Team (content provided by Cuatrecasas)

Please visit our website to find out more about how we work in this field: http://www.cuatrecasas.com/practice_areas/mergers_and_acquisitions.html

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Garrigues - Corporate/M&A Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

What the team is known for Extensive team with the capacity to offer a multidisciplinary approach to clients in all industry sectors. Leverages the superb reputations of key individuals in Madrid and Barcelona to serve corporate governance and transactional needs of major clients. Remains a key partner for major banks, private equity funds and real estate investors engaging in M&A transactions, particularly those with a cross-border element. Boasts an ever-expanding presence in Latin America which handles diverse mandates at an international and domestic level.

Strengths Sources say that "it is a pro-deal firm; they are flexible, try to reach solutions or find answers to the questions and try to find compromises so that we can reach an agreement."

"They are available, are always quick in answering phone calls or e-mails and if you want to hold meeting with the key partners they will adjust their agendas to be there," adds one client.

Work highlights Advised Global Infrastructure Partners on its acquisition of 20% of Gas Natural. Repsol and CriteriaCaixa agreed to each sell a 10% stake in Gas Natural for a combined EUR3.8 billion.

Advised Merlin Properties on its acquisition of large parts of Metrovacesa's real estate asset portfolio. Metrovacesa spun off its commercial and residential real estate portfolios into separate business lines that were incorporated into Merlin Properties and Testa Residencial respectively.

Notable practitioners

Fernando Vives is an established figure at the top of the Spanish market and is credited with regularly attracting standout corporate governance and M&A mandates to the firm. "He adds value because of his clarity in explaining situations and his rapidity in answering queries," says one client, while another says: "He has an easy-going attitude and is kind, polite and discrete." Vives played a leading role in advice to BBVA on its merger by absorption with Catalunya Banc.

Interviewees praise Álvaro López-Jorrín for his technical skills and say that he is "pragmatic and focused on getting the deal done; he doesn't waste time on unnecessary discussions." "He's quick and always gives effective solutions," report clients. He often handles high-value public and private M&A transactions on behalf of key clients in the financial and telecoms sectors. Peers highlight his prominence in major deals, saying: "He's definitely one of the names to be followed in this market."

Ramon Girbau is known to peers as an important figure in the firm's Barcelona office. His experience in complex M&A topics was evident in advice to Air France-KLM on various block trades and derivatives transactions aimed at restructuring its shareholding in Amadeus IT Holding.

Mónica Martín de Vidales impresses peers for "the way she interacts with counterparties in negotiations; she's subtle, kind and commercial." She advised Mutua Madrileña on the sale of its 33% stake in Parkia to First State Investments.

José María Gil-Robles Casanueva has particular experience in corporate transactions involving distressed companies or NPL and real estate asset portfolios. Interviewees note his close links to the UK market and appreciate his ability to be creative in complex deals.

Sources say that Renata Mendaña is "intelligent, flexible and ready and available at all times." She stands out for her work on corporate transactions with a strong real estate component, having led the firm's advice to OHL Desarrollos on the EUR225 million investment by Mohari Limited into development project Centro Canalejas Madrid.

Ildefonso Polo earns considerable praise from market commentators for his technical abilities and his dedication. "Despite being a partner you really feel that he is 100% on top of the transaction," reports one client, going on to say: "He takes ownership and responsibility for everything in the same way as we would expect of someone in our in-house team, which gives us a lot of confidence."

About the Team (content provided by Garrigues)

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Linklaters - Corporate/M&A Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

What the team is known for International powerhouse with a strong track record in large-scale public M&A deals. Works for major Spanish and multinational companies, with significant knowledge of industries such as renewable energy, telecommunications and waste infrastructure. Popular choice for private equity firms at all stages of investment into Spain and Portugal, from buyouts through to secondary transactions and IPO exits, owing in part to the tremendous reputations of its supporting finance teams.

Strengths "In very complex processes they demonstrate a thorough knowledge of the issues we need to discuss," says one interviewee, adding: "They are able to put a comprehensive team in front of the client."

Clients describe the firm's suitability to work on major pan-European matters: "When there is a transaction involving many EU jurisdictions we think that Linklaters is a key firm because it has a presence in those jurisdictions and a consistent level of quality."

Work highlights Advised Siemens on the merger of its wind power business with Gamesa Corporación Tecnológica.

Assisted ACS with the sale of its waste management business Urbaser to Firion Investments. The deal valued Urbaser at EUR1.4 billion.

Notable practitioners

Jaime Zurita is a well known name in the market. His expertise spans corporate and capital markets transactions, and he is active in mandates in the hospitality, retail and energy sectors.

Peers note Alejandro Ortiz's presence in many of the most high-profile M&A transactions in the Spanish market. "He has been in so many deals that he can give you things others can't," reports one client, going on to say: "He knows what will happen with almost complete certainty because he has been there and he has done it." Interviewees further highlight Ortiz's broader knowledge of finance issues, saying: "He has good judgement and looks at things from a banking perspective too, which is helpful."

Alexander Kolb receives praise from peers for his measured approach to negotiations, which "helps us to have a smooth transaction in a very controlled atmosphere." He advised Telefónica on the sale to IBM of its Tgestiona businesses in Spain, Peru and Argentina.

Lara Hemzaoui stands out for her leading role in several of the firm's cross-border M&A and energy project mandates. She also advises on real estate transactions.

About the Team (content provided by Linklaters)

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Uría Menéndez - Corporate/M&A Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

What the team is known for Exceptional Spanish firm with a wide range of experience gained from exposure to some of the highest-profile M&A deals in the market. Recent cases have involved working with leading companies in the energy, financial services and real estate sectors. Benefits from strong ties to Spain's largest banks. Also has a strong reputation in key Latin American jurisdictions and in London owing to close co-operation with local top-tier practices.

Strengths "The firm is not only the best from a technical perspective but also the lawyers have a lot of commercial sense," says one client, noting: "We need a diplomatic approach to transactions and the lawyers at Uría are particularly good at navigating us through deals."

Clients benefit from the firm's commitment to building a relationship: "As a result of the time they have invested in us they have such a detailed knowledge of my company that it is easy for me to throw them a problem and have an overall picture of the different parts of my company that could be affected."

Work highlights Advised Gamesa Corporación Tecnológica on its merger with Siemens' wind power business. Gamesa took on a 41% stake in the resulting entity.

Assisted CriteriaCaixa and Repsol with the sale of 20% of Gas Natural to a fund controlled by GIP.

Notable practitioners

Clients say that Juan Miguel Goenechea is "super commercial, has lots of empathy and a good character in order to make difficult negotiations very easy." He is well known to peers as a leading partner who acts on important corporate and private equity transactions. He advised Metrovacesa on the spin-off of its commercial, residential rental and non-strategic development projects businesses into Merlin Properties, Testa Residencial and Metrovacesa Promoción y Arrendamiento respectively.

Salvador Sánchez-Terán is widely respected among peers for his M&A work on behalf of the firm's key banking clients. He also acts for major Spanish corporates on high-value international transactions. "The best level of service we have received in Spain comes from Uría and from Sánchez-Terán's team," reports one impressed client.

Cándido Paz-Ares is best known for his vast experience in corporate governance matters. He acts for major Spanish listed and non-listed corporates on advisory and transactional mandates. "He is always directly involved in the transactions and is definitely a deal-oriented person," report peers.

Rafael Sebastián led the team that advised Gamesa Corporación Tecnológica on its high-profile merger with Siemens Wind Power. Sources say that he is "an excellent transaction manager," noting: "His clients really rely on him and listen to him because of his technical skills and the input that he delivers."

Manuel Echenique is best known for his M&A work within the financial services sector. Peers note his activity on cross-border private equity transactions, while clients say that Echenique's technical skills and creativity enable him to be "very commercial, accommodate the difficulties in a transaction and find solutions."

Interviewees say that Juan Francisco Falcón is "proactive, dedicated and absolutely committed to the client." He was a key part of the team that advised Grupo Isolux Corsán on the termination of its energy and infrastructure joint venture Isolux Infrastructure Netherlands.

Christian Hoedl's particular experience in private equity transactions was showcased in advice to Advent International on its auction sale of portfolio company Tinsa Tasaciones Inmobiliarias to Cinven. He receives praise from peers for his activity on complex mandates.

Impressed peers highlight Francisco San Miguel as an increasingly important presence in the firm's banking M&A transactions. Interviewees note his skill in negotiations and say that he is able to be "commercial with his client and with the counterparties."

About the Team (content provided by Uría Menéndez)

Uría Menéndez offers its M&A clients legal advice of the highest quality, extensive experience in finance, and creative options to structure their transactions. Our lawyers are renowned for their expertise in particularly complex transactions, and have advised on practically every groundbreaking transaction in this sector. We work closely with our colleagues in the Capital Markets Practice Area on transactions involving listed companies, while our Financing and Tax Practice Areas assist us with the structuring and financing of transactions.

- Acquisitions
- Restructurings
- Capital transactions
- Debt
- Corporate
- Divestment

We provide Spanish and Portuguese legal advice on corporate purchase and sale contracts and other international transactions. We also assist our clients in their investments outside the Iberian Peninsula.

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Allen & Overy LLP - Corporate/M&A Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

What the team is known for Has had considerable success in attracting new business to the Spanish team, both by pursuing a programme of high-profile hires to corporate and finance teams and by consistently impressing clients referred from the London office. Earns praise for its capacity to take on mid-cap transactions in addition to high-end transactional work. Often co-ordinates cross-border M&A transactions, including those within the infrastructure and energy sectors. Fernando Torrente is an important lateral hire to the Madrid office.

Strengths "They are proactive when working with parties in different parts of the world and in different time zones," says one client, adding: "They are able to project manage the different aspects of the deal."

Another interviewee further praises the firm's ability to co-ordinate cross-border mandates, saying: "They work well as a team to the extent that you don't notice at all that they are in different offices in different countries."

Value for Money Clients appreciate that the firm is "efficient insofar as not throwing in lots of people or putting in excessive hours on a job."

Work highlights Advised Gamesa Corporación Tecnológica on the acquisition of AREVA's 50% stake in Adwen. The deal was made in the context of Gamesa's merger with Siemens.

Acted for EQT Infrastructure on the sale of its majority shareholding in Parkia to First State Investments. The firm handled corporate, finance, public and employment law aspects of the EUR300 million transaction.

Notable practitioners

Interviewees expect Fernando Torrente to provide a valuable boost to the firm's corporate and equity capital markets capabilities owing to his considerable experience in the market. "He has a huge amount of experience in M&A," says one source.

Antoni Valverde Roy leads cross-border M&A matters from his base in the firm's Barcelona office. He stands out for his work for key Spanish infrastructure clients that are actively investing in Asian and Latin American toll road concessions. He also assisted TUI with its EUR1.2 billion disposal of Hotelbeds to Cinven and the CPP Investment Board.

Iñigo del Val moves up the rankings owing to the vast amount of praise that he receives from a large pool of corporate and financial services clients. Sources say that he "knows how to be commercial in that he tries to think out of the box and find solutions," going on to note: "He is also commercial with the other side's lawyers. He works very well with other people, which is to the benefit of the overall transaction." "He advises on how best to protect our interests and commercially how to achieve a deal," reports another impressed client.

Ignacio Hornedo supports both international investment funds and domestic corporate clients in M&A transactions. "He is responsive, pragmatic and his advice is always clear," says one client, adding: "He establishes a good rapport with the other side."

About the Team (content provided by Allen & Overy LLP)

Department profile not yet provided by Allen & Overy LLP. Please see their firm profile.

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Baker McKenzie - Corporate/M&A Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

What the team is known for Major multinational law firm advising both domestic and foreign companies on complex corporate transactions. Highly regarded partners based in Barcelona have valuable experience in healthcare and life sciences, IT and retail sector mandates. Madrid team offers additional standout strength in media and banking sectors. Cross-disciplinary approach and a broad international network remain key assets for the department.

Strengths "They are able to translate the law into real decisions and recommendations that we can trust," say clients, adding: "They are not afraid to give their opinion."

Interviewees also appreciate that "the team is well organised and there is a lot of good co-ordination that goes on between the different areas including tax, contract and labour law."

Work highlights Advised FCC as target company on a takeover bid launched by Carlos Slim and his holding company Inversora Carso. Slim aimed to bring his shareholding in the Spanish construction company up to 100%.

Advised Daimler on its acquisition of Athlon Car Lease International. Baker McKenzie teams across Europe co-ordinated advice on the EUR1.1 billion transaction.

Notable practitioners

Clients describe Enrique Carretero as "experienced, knowledgeable and a safe pair of hands." In addition to his work on some of the firm's most high-value public M&A mandates Carretero handles some smaller domestic deals. He assisted with the structuring of film sector investment vehicle Mogambo Ventures.

Jorge Adell heads the firm's Barcelona practice and handles diverse corporate transactions including those in the healthcare, retail and real estate sectors. "He is able to understand the problems and look for solutions that will be acceptable to both sides," says one interviewee, while another notes: "He is very calm in negotiations and makes things easy for his clients."

Peers highlight Javier Menor as an important partner in the Barcelona office with proven strength in M&A topics. "He combines technical skill with an exceptional ability to manage transactions in an intelligent and pragmatic way," say interviewees. "He is able to understand our needs and obtain the desired results," adds another client.

About the Team (content provided by Baker McKenzie)

Department profile not yet provided by Baker McKenzie. Please see their firm profile.

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Freshfields Bruckhaus Deringer - Corporate/M&A Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

What the team is known for Renowned international firm with a strong corporate practice that targets only the most complex or highest-value transactions. Has a superb global reputation for M&A alongside proven experience in co-ordinating cross-border mandates with colleagues in Germany and London. Often assists foreign companies looking either to enter or exit the Spanish market, with notable success in attracting and retaining East Asian institutional investors as key clients.

Strengths "The lawyers are used to managing international transactions; not many firms have the international experience and knowledge that they do, and they know how to co-ordinate with other offices," says one client.

"They are super-proactive and always guide us through what we need to do," reports another interviewee, adding: "They are always one step ahead."

Work highlights Advised Fresenius on its acquisition of Quirónsalud. Teams across Spain, Germany and the UK co-ordinated advice to Fresenius subsidiary Helios Kliniken on the EUR5.76 billion transaction.

Advised Merlin Properties SOCIMI, Testa Inmuebles en Renta SOCIMI and Testa Residencial on their merger with Metrovacesa. Metrovacesa transferred its commercial and residential property portfolios to Merlin Properties and Testa Residencial in exchange for shares in the acquiring companies.

Notable practitioners

José Armando Albarrán is widely recognised as a prominent figure in the Spanish market who focuses on high-value M&A transactions. Clients appreciate that Albarrán offers a "good strategic view of transactions" and that "he discusses the risks that we have in the transaction and what we can do in order to avoid them. He has a very practical approach."

Peers note David Franco's role in important banking sector M&A and restructuring transactions and describe him as "smart and commercial." Clients appreciate that "he has a straightforward style and is prepared to listen," adding: "He has great technical knowledge and is able to explain issues to anyone so that they can understand perfectly." Franco advised Barclays Bank on the sale of Barclaycard in Portugal and Spain to Bancopopular-e.

Javier Monzón earns increasing recognition from peers as a key partner in the Madrid team. Clients highlight his negotiation skills, saying: "He is pragmatic in that he doesn't go too much into details but rather knows what is important for each party and looks for the best way to bridge the gap." "He is able to simplify things, taking a holistic view of the problem and identifying the main issues," adds one impressed interviewee.

About the Team (content provided by Freshfields Bruckhaus Deringer)

Please visit the Freshfields website for more details about our work in this category: http://www.freshfields.com/en-gb/what-we-do/services/corporate-and-ma/


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Pérez-Llorca - Corporate/M&A Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

What the team is known for Regularly attracts roles on significant public M&A deals and on the Spanish aspects of high-value cross-border transactions. Wins praise for flexibility to take on both smaller and large corporate transactions, including those in which the underlying targets are real estate developments, hotels, energy or infrastructure assets. Offers a full-service approach with strong support from the firm's tax, regulatory and litigation departments. Also advises on corporate transactions in the Latin American energy sector. New lateral hire Javier Carvajal is one of a number of key additions to the Madrid corporate team.

Strengths "They are highly motivated lawyers who are highly involved in the transactions, have amazingly high technical skills and are totally updated on the law. Putting all of that together means that they are really a very good choice for us," says one client.

Interviewees note the firm's size as a key advantage: "They can work in a large transaction and render a service that is as good as the biggest firms in Spain, but also can work in smaller transactions and act as a good adviser."

Work highlights Acted for Gas Natural on corporate governance issues arising from the EUR3.8 billion transaction that saw 20% of its share capital change ownership from CriteriaCaixa and Repsol to Global Infrastructure Partners.

Advised Dell EMC on Spanish law aspects of its USD1.62 billion sale of its Enterprise Content Division to OpenText. Lawyers from New York co-ordinated with the Spanish team to advise on the transaction.

Notable practitioners

Peers describe Pedro Pérez-Llorca as "an absolute star in the market" and highlight his significant contributions to the firm's ever-growing reputation for complex corporate transactions. "From the start of our relationship he has been very impressive: he knows what he is talking about, is hands-on and practical," says one client. "He is highly respected in the legal world, is really balanced and knows how to reach agreements," notes another interviewee.

Javier Carvajal is one of several new hires to the corporate team who are expected to add to the firm's public and private M&A capabilities. "He makes complex matters seem simple," reports one interviewee, while another says: "He is always available and has very good ideas. We really like the way he works because he knows us perfectly and we don't need to explain things to him twice."

Standout mandates for Pablo González Mosqueira include his advice to Ardagh Group on its USD3.4 billion acquisition of Brazilian, US and EU manufacturing plants that were sold by Ball and Rexam in order to meet competition law requirements. Clients highlight his impressive technical skills.

About the Team (content provided by Pérez-Llorca)

Please visit www.perezllorca.com/en/PracticasSectores/inicio for more information


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Ashurst - Corporate/M&A Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

What the team is known for Handles the full scope of corporate matters including mergers, joint ventures and corporate restructuring. Regularly advises on inbound or outbound investments into Spanish or overseas infrastructure projects, including toll roads and public transport concessionaires. Stands out for work on M&A transactions in the insurance sector. Also has a proven track record in distressed asset transactions and those involving REO and NPL portfolios.

Strengths Interviewees note that the lawyers are "well connected with regulators, with other companies and generally with what's going on in the market in terms of the trends and movements that other companies are making."

"Whenever th ere are problems they are responsive and always available on the mobile," says one client.

Work highlights Advised Lindorff on its EUR313 million acquisition of Aktua Soluciones Financieras Holding from Centerbridge.

Advised Dunas Capital on its acquisition of asset management and investment services group Inverseguros.

Notable practitioners

Peers note María José Menéndez's particular expertise in insurance sector transactions, which was showcased in advice to Elliott Advisors and Ember Insurance Capital CP on their joint acquisition of Banco Sabadell's life insurance division Mediterráneo Vida.

Jorge Vázquez is best known for his M&A work on behalf of investment funds. Peers note his activity in infrastructure and real estate transactions and describe him as a "tough, talented lawyer."

Pedro Ester plays a leading role in many of the firm's investment fund transactions, including sales or acquisitions of portfolio companies or real estate investment vehicles. "He is constructive and deal-oriented," reports one peer, going on to explain: "We had a very collaborative atmosphere in negotiations whereby he was tough when needed but not too tough if the deal needed a push to move forward."

About the Team (content provided by Ashurst)

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CMS - Corporate/M&A Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

What the team is known for Leverages its long-standing role as governance adviser for major Spanish corporates to attract roles on recent high-profile M&A and restructuring mandates. Particularly popular among leading Spanish infrastructure, telecoms and energy clients. Maintains strong ties to the German market thanks to the reputations both of its European offices and of experienced Madrid-based partners.

Strengths Clients say that "the lawyers are responsive and thorough, and it is a pleasure to deal with them."

"We are happy both with the results and with the fact that they are very available," adds another client.

Work highlights Advised Iberdrola as majority shareholder in Gamesa Corporación Tecnológica on the effect of the merger of the latter with Siemens Wind Power.

Advised Studio Canal on its acquisition of a 33% minority stake in Bambú Producciones.

Notable practitioners

Clients like that César Albiñana Cilveti is "close and approachable," while peers note his long-standing presence in the market. He is a key contact for many of the firm's leading Spanish corporate clients and leads both governance and transactional mandates.

Luis Miguel de Dios Martínez regularly assists German industrial companies with investments into Spain. His experience working together with German colleagues was showcased in advice to Bruker on its acquisition of Oncovision's preclinical PET imaging business line. Interviewees highlight his client-oriented approach.

Standout mandates for Rafael Suárez de Lezo include his advice to Acciona on the various corporate transactions that effected its wind power partnership with Nordex. Peers know him as an experienced M&A partner and praise his negotiation skills.

About the Team (content provided by CMS)

Our knowledge of the numerous economic sectors and particular requirements of each one enables us to provide added value to clients in the execution of their projects, with advice on mergers and acquisitions at the core of CMS Albiñana & Suárez de Lezo’s activity since its foundation. We boast a highly reputable corporate and M&A team of more than 700 professionals across 38 countries responsible for presiding over some of the most significant corporate transactions in Spain during recent years.

We offer personalised solutions to all clients whether they are large listed companies or small private entities, advising on areas such as M&A, venture capital, outsourcing, capital markets, group restructuring and privatisation. Our teams are formed by experts in all practice areas and sectors such as banking and finance, consumer products, energy, infrastructure, insurance, the pharmaceutical industry, property and construction, hotels and leisure, technology and the media, enabling us to recognise the unique features of each operation and provide time and cost saving contextualised advice whilst also identifying and preventing any related risks. 

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DLA Piper Spain - Corporate/M&A Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

What the team is known for Well-respected team assisting clients with corporate mandates, with a particular strength in cross-border M&A transactions. Continues to build on its expertise in private equity deals through significant transactions in the healthcare, consumer goods and banking sectors. Represents a host of domestic and international funds, leveraging the superb reputations of senior partners who remain close points of contact for key clients.

Strengths "The lawyers are attentive to everything and are flexible in terms of responding on short notice," says one client.

"They know how we work and adapt really well to our needs," adds another interviewee.

Work highlights Advised CVC Capital Partners on the sale of its 58% stake in Quirónsalud to a subsidiary of Fresenius. The firm's corporate teams in Madrid and Cologne advised on the EUR5.76 billion transaction that saw Helios Kliniken expand into the Spanish private healthcare market.

Advised MÁSMÓVIL Ibercom on corporate issues pertaining to its EUR612 million acquisition of Yoigo.

Notable practitioners

Iñigo Gómez-Jordana has the proven ability to manage huge M&A transactions. He led the firm's advice to Atlantia on its EUR16.3 billion bid for listed toll roads operator Abertis.

About the Team (content provided by DLA Piper Spain)

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Gómez-Acebo & Pombo - Corporate/M&A Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

What the team is known for Has a strong international outlook thanks to the team's foreign expertise and a multinational client base which includes several foreign corporates looking to invest in Spain. Provides corporate governance advice in addition to working on highlight sales, acquisitions and joint venture mandates. Has further expertise in corporate restructuring. Increasingly attracts attention for work on behalf of venture capital funds engaging in secondary transactions or carrying out financing rounds.

Strengths Clients appreciate that they have constant contact with senior partners: "The partner co-ordinates the relationship with us and is on the front line in transactions."

The lawyers also earn praise for their willingness to invest time in understanding a client's industry: "They got involved with the whole of my business from the beginning and are now familiar with the company, the transaction, the background and the people."

Work highlights Advised Axión's management on corporate issues resulting from AMP Capital's buyout of shares owned by former owner Antin Infrastructure Partners.

Assisted Laureate Education with the sale of Swiss private education institutions Glion and Les Roches. Eurazeo acquired the two schools together with their overseas campuses for CHF380 million.

Notable practitioners

Fernando de las Cuevas often handles inbound investments into Spain from foreign corporates. He advised AVIC International Aero-Development on its EUR166.5 million acquisition of a 95% stake in Aritex. Peers note that "he has a good view of the whole of the transaction and can provide high-level advice that adds value."

Clients highlight Íñigo Erlaiz Cotelo's solution-oriented and conciliatory approach to negotiations along with his particular experience in private equity transactions. He is a key partner in the firm's corporate practice and leads a range of M&A, restructuring, joint venture and commercial contracts mandates.

About the Team (content provided by Gómez-Acebo & Pombo)

Our expert team in Mergers and Acquisitions provides a quality and personalised service that allows us to participate in the most complex operations, both cross-border and national.

Thanks to our experience we offer comprehensive legal advice, being able to provide guidance in the sectors that require a higher level of specialization, with integrated high-performance multidisciplinary teams.

We are a firm of choice for national and international companies in regard to advice on mergers and acquisitions in Spain and Portugal.

In addition, we are involved in transactions in multiple jurisdictions, providing advice on Spanish and Portuguese legal aspects and coordinating the participating international legal advisers.

Our services related to Mergers and Acquisitions are:

  • Acquisitions
  • Corporate operations and structural modifications
  • Capital transactions
  • Debt
  • Divestments


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Herbert Smith Freehills - Corporate/M&A Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

What the team is known for Frequently advises both foreign and domestic investors on cross-border M&A, joint ventures and equity capital markets deals. Energy, infrastructure and healthcare remain significant areas of expertise. Brings together corporate, acquisition finance and tax expertise to advise on private equity transactions. Receives particular praise for work on the buy side of significant inbound investments.

Strengths "They quickly identify the areas of concern and go deeply into understanding them," says one interviewee, adding: "In negotiations they are quick to react and are smart in that sense that they try to balance the legal protections with the commercial position of the client."

"They are problem solvers," states another impressed client, going on to explain: "Bringing up the problems is easy but coming to you with just a solution is what you need in an M&A adviser."

Work highlights Acted for First State Investments on its EUR300 million acquisition of Parkia from ECT Infrastructure and Mutua Madrileña.

Advised Magnum Capital Industrial Partners on its EUR95 million investment into Industrias de Transformación de Andoain's share capital.

Notable practitioners

Nicolás Martín regularly assists the firm's investment funds clients with private equity, infrastructure asset and debt portfolio transactions. Clients value his strategic advice in complex transactions and note that "he takes leadership in negotiations."

Peers note Alberto Frasquet's activity in corporate and private equity mandates, while clients appreciate that "he develops good relations with lawyers on the other side so that they can solve many problems between themselves." He led the firm's advice to Nazca Capital on the sale of IMOncology to GenesisCare.

About the Team (content provided by Herbert Smith Freehills)

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Hogan Lovells International LLP - Corporate/M&A Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

What the team is known for Popular choice for foreign companies looking to invest in Spain, thanks to the firm's strong cross-border capabilities. International experience is demonstrated in recent mandates involving China, the USA, Latin America and France. Regularly assists corporate clients on the buy side of transactions in the infrastructure, technology and life sciences sectors. Also stands out for activity on major transactions in the hotels sector.

Strengths Interviewees note that the lawyers are "senior, experienced and hands-on," noting: "They strongly defend the interests of their clients but are realistic and make transactions easer."

Clients further note the lawyers' approach to negotiations, saying: "They don't waste your time but instead really focus on the issues."

Work highlights Assisted HNA Tourism Group with the acquisition of Carlson Hotels and its 51.3% shareholding in the Rezidor Hotel Group. Lawyers in Madrid co-ordinated with New York and Beijing colleagues to advise on the transaction that saw HNA add 1,400 hotels to its global portfolio.

Advised Loxam on its acquisition of Hune. The firm advised on structuring the corporate transaction within the context of Hune's debt restructuring.

Notable practitioners

José María Balañá heads the Spanish office and leads the firm's advice to key Asian, Middle Eastern and UK-based corporate clients. "He's on top of things and any time I need to discuss with him he is always available, even if it is the weekend or when he is travelling," says one client, while another reports: "He works seamlessly with other offices of Hogan Lovells globally."

Alex Dolmans leverages his language skills and international experience to attract roles predominantly on the buy side of inbound investments into Spain. "He makes the complex commercial and corporate issues easy to understand," says one client. Dolmans advised Europcar group company Ubeeqo on its expansion into the Spanish market through the acquisition of Bluemove.

Peers highlight Graciela Llaneza's hard-working and hands-on approach, saying: "She deals directly with the client and drafts the agreements." "She is able to mobilise her team quickly so that we have a clear, easily understandable and practical answer," say clients. She acts for corporate and private equity clients on diverse transactions. Standout mandates include advice to Affidea on its buyout of Alantra Private Equity's portfolio company Q Diagnóstica.

Lucas Osorio has a broad practice that spans infrastructure M&A deals as well as the structuring of PPP projects across to corporate governance advice to leading Spanish real estate companies. Interviewees often highlight his negotiation skills, saying: "He is very calm, which helps to manage sometimes quite explosive situations."

About the Team (content provided by Hogan Lovells International LLP)

Our Corporate and M&A practice has more than 800 lawyers worldwide and handles many of the most complex transactions and significant business matters across all economic sectors. Our broad presence in Europe, the US, Latin America, the Middle East, Asia and increasingly in Africa enables us to advise our clients anywhere they need our help.

Our Madrid team has 18 lawyers, including four partners and one counsel. M&A, private equity, reorganizations, shareholders' disputes, and capital markets are at the core of our practice.  We also advise on corporate governance and company directors´ liability.

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Latham & Watkins - Corporate/M&A Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

What the team is known for Handles high-value M&A transactions for US and Spanish companies, with a particular focus on matters with a cross-border element. Acts for private equity sponsors and their portfolio companies on acquisitions, carve-outs and corporate restructurings. Assists Spanish family businesses with corporate and commercial transactions that expand their overseas presence. Also advises industrial clients on corporate governance matters.

Strengths "They are commercially minded and responsive," states one interviewee.

Clients further highlight the firm's skill in managing international transactions, saying: "Ultimately their principle is that the job is done at the same level of quality in each country. I like that the key lawyer is present in each moment of the transaction, is always willing to be in meetings and is able to ensure that the outstanding quality of the work is maintained abroad."

Work highlights Advised Lovell Minnick Partners on the acquisition of a minority stake in Trea Asset Management. Lovell Minnick bought convertible debt in Trea and subscribed a capital increase carried out by Trea's parent company Team & Work 5000.

Advised Enagás on its acquisition of an additional 2.96% stake in Transportadora de Gas del Perú. Enagás subsidiary Enagás Internacional and CPP Investment Board subsidiary Carmen Corporation jointly bought out International Power's 8% stake in the Peruvian gas company.

Notable practitioners

Juan Picón enjoys a tremendous reputation in the Spanish M&A space."He knows everyone in the market, picks up the phone and can speak to you and is extremely commercial," sums up one client. Interviewees are impressed with his ability to "mobilise the resources in the firm well"and state: "His main strength is that he's just an exceptional person and gets on with everyone." He is regularly involved in major transactions involving international private equity clients.

Ignacio Pallarés receives praise for his ability to "put himself in the client's shoes so you feel like he's taking care of your interests." "He is smart, creative and responsive," adds another interviewee. Pallarés often handles cross-border M&A transactions for institutional investors or foreign corporates. He led the firm's advice to Apical Group on its acquisition of a 67.65% stake in Bio-Oils Energy.

A client appreciates that José Antonio Sánchez-Dafos is "always available if I call or write a message on very short notice and can discuss everything that I need to know." He frequently assists international corporates with their M&A transactions.

About the Team (content provided by Latham & Watkins )

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Araoz & Rueda - Corporate/M&A Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

What the team is known for Maintains a consolidated reputation in the mid-cap M&A market, habitually advising Spanish and foreign clients on cross-border transactions. Popular choice for foreign law firms looking either to refer key clients to a smaller Spanish firm or to work together on transnational M&A projects. Has additional experience working with companies based in China.

Strengths "I work directly with the senior partners and they are totally involved," says one client, going on to say: "They don't just win the deal and then assign it to someone else in the firm. Instead they are involved from the beginning to the end."

Clients further note that the lawyers are "always quick to respond and their advice is digestible and neat."

Work highlights Advised Charme Capital Partners on its acquisition of a majority stake in Igenomix through mid-market fund Charme III.

Assisted Orpea Group with its acquisition of Sanyres Group and its portfolio of 18 Spanish healthcare facilities.

Notable practitioners

Pedro Rueda consistently attracts superb praise for his work on mid-cap M&A mandates. "I can pick up the phone and call Pedro and he's 100% up to date on every bit of advice we have had," says one interviewee, whilst another adds: "He's involved in everything and can spot issues in the contracts in seconds." Sources also draw attention to his English language skills and his experience in handling cross-border transactions.

About the Team (content provided by Araoz & Rueda)

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Broseta Abogados - Corporate/M&A Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

What the team is known for Handles all aspects of corporate work from the conduct of board meetings and drafting of shareholders' agreements through to the structuring of joint ventures or mid-cap M&A operations. Has notable experience in the private equity, telecoms and aviation sectors. Also advises on real estate asset and loan portfolio transactions as part of a broader commercial practice spread between Valencia and Madrid.

Strengths Clients say that the firm "is not so big that we feel like just one more customer; they give us a lot of attention, have a really good relationship with us and really understand our needs."

"They are always available for the client and give a personal service," notes another interviewee.

Work highlights Assisted StormHarbour with its acquisition of Ahorro Corporación's securities brokerage arm Ahorro Corporación Financiera.

Advised gigigo on the acquisition of 70% of its shares by Digital Dimension.

Notable practitioners

Interviewees highlight Julio Veloso's language skills and describe him as an "organised person who is flexible to the needs of the client." He heads the department and acts on M&A, investment funds and corporate restructuring mandates. Veloso was a key part of the team that advised Keraben Grupo on the sale of its bathroom fittings subsidiary Construplas to MBO Partenaires and Aquasourça.

About the Team (content provided by Broseta Abogados)

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Jones Day - Corporate/M&A Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

What the team is known for Assisted by its global network, the team frequently undertakes mandates for international and domestic clients, proving particularly popular among those in the industrial, construction, energy and telecommunications sectors. Acts for foreign corporates on transactions that either involve direct investment into the Spanish market or in which the Spanish component is part of a larger global M&A operation. Also handles some domestic deals.

Strengths Clients appreciate that partners and associates work closely together on mandates and "all share analytical, very precise and well-informed advice."

"They are always available, any day and at any hour," reports one interviewee.

Work highlights Co-ordinated with colleagues in Paris to advise Total on the USD3.2 billion sale of Atotech to The Carlyle Group.

Advised International Automotive Components (IAC) on the structuring of its automotive sector joint venture with Shanghai Shenda. The firm assisted with negotiations for IAC to contribute its 21 manufacturing plants and four technical centres to the JV and to hold a 30% stake in the resulting entity.

Notable practitioners

Manuel Vara Varea plays an important role within the firm's global M&A offering. He was a key part of the firm's pan-European team that advised Euronext on its EUR510 million acquisition of LCH.Clearnet. Interviewees appreciate that his technical skills extend beyond M&A to diverse areas of law, noting: "He is a very well-rounded lawyer."

About the Team (content provided by Jones Day)

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King & Wood Mallesons - Corporate/M&A Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

What the team is known for Frequently assists clients from the energy, infrastructure and private equity sectors with all stages of their investments in Spain. Notably active in M&A matters with an international component, having acted on several high-profile transactions for important Portuguese energy sector clients. Advises real estate investors on acquisitions of Spanish commercial assets. Fund structuring remains another significant focus. The firm's pan-Asian presence helps it to attract a number of major clients from that region.

Strengths Clients highlight the benefits of the firm's "cohesive team in which the lawyers have been together for a long time and are extremely knowledgeable and well respected in the industry."

Interviewees also note the "high technical level of the team in the development and resolution of problems."

Work highlights Advised EDP Group on its EUR2.59 billion divestment of Naturgas Energía Distribución. The firm also advised on EDP's bid for the 22.47% of EDP Renováveis that was listed on the Lisbon stock exchange.

Advised MCH Private Equity on its joint investment with Trilantic Capital Partners and GPF Capital into Pacha Group's share capital.

Notable practitioners

Peers highlight Roberto Pomares Botana's presence in many of the firm's key M&A transactions. He advises both corporate clients and investment funds on transactions that are predominantly in the energy and real estate sectors. Standout mandates include advice to Capital Dynamics on the exercise of its put option on shares in Grupo T-Solar Global.

About the Team (content provided by King & Wood Mallesons)

Please visit our website to find out more about how we work in this field: http://www.kwm.com/en/es/legal-services/practices/corporate-private-equity-m-and-a-and-commercial 


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Ramón y Cajal Abogados - Corporate/M&A Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

What the team is known for Has a long-standing reputation in the market for corporate governance and commercial contracts work on behalf of Spanish clients. Handles predominantly mid-cap M&A deals, including those with an important real estate component. Has further experience in the restructuring of international corporate groups. Alberto Alonso Ureba is a new hire to the Madrid office.

Strengths Clients praise the lawyers' responsiveness and say that "they are very knowledgeable and quick lawyers."

"The size of Ramón y Cajal is exactly what we need," reports another interviewee, adding: "We appreciate the proximity of their lawyers to our requirements."

Work highlights Assisted Inmobiliaria Colonial with its acquisition of a 15.1% stake in Axiare Patrimonio SOCIMI.

Advised Grupo Royo on corporate issues flowing from H.I.G. Capital's EUR13.5 million equity investment into the family-owned bathroom furnishings company.

Notable practitioners

Alberto Alonso Ureba has joined Ramón y Cajal as head of corporate. He is best known for his governance and transactional work on behalf of banking sector clients. Interviewees note his vast technical knowledge of corporate law, saying: "All firms have a lawyer who knows about this angle but he is a step above."

About the Team (content provided by Ramón y Cajal Abogados)

Ramón y Cajal has extensive experience in national and cross-border corporate transactions, with the involvement of both listed and unlisted companies of a wide range of sizes and sectors.

Our team of professionals offers highly specialised advice in investment and divestment transactions, corporate restructuring and, in general, structural modifications of companies to both industrial and financial investors, and to the companies affected by such processes and their management teams. We provide legal advice in the execution of due diligence processes, the preparation of shareholders' agreements, business collaboration agreements, plans for corporate restructuring and financing transactions.

With the aim of providing the most complete service, our advice is supplemented with advice on other areas of practice where specialisation is necessary, in accordance with the scope of the work to be carried out: Competition, labour, capital market, finance, tax, government and regulated sectors and litigation. The creation of interdisciplinary work teams allows us to gain a broader view of the transaction and to meet our clients' needs in all phases of its execution.



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White & Case LLP - Corporate/M&A Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

What the team is known for Internationally renowned firm with strong cross-border capabilities in corporate and capital markets mandates. Handles the Spanish aspects of global M&A operations, including in the life sciences and automotive sectors. Advises international lenders on the agreement of acquisition finance for high-value transactions. Often looks to its international network to supply European, US and Asian financial services clients.

Strengths Interviewees like that "the partner takes a large part of the burden and make sure that he executes the work personally," adding: "We have a partner actually doing the work and at a lower final cost because they can involve fewer people in the firm."

"T hey are knowledgeable about Spanish law and have a detailed understanding of UK and US law, so when we need to think out of the box they can give their perspective, " reports another source.

Work highlights Advised Zimmer Bionet on the Spanish law issues relating to its acquisition of LDR Holding Corporation. The Madrid practice worked together with the New York and Paris offices to assist Zimmer Bionet with its USD1 billion tender offer for all shares in the Nasdaq-listed medical devices company.

Acted for Nordic Capital on the merger of portfolio companies Sunrise Medical Spain and Sunrise Medical Germany.

Notable practitioners

Carlos Daroca leads many of the firm's major corporate and private equity-driven M&A transactions. Clients appreciate that he is "concerned about understanding our business and the risks, so he avoids problems and can tell us where we need to focus." Daroca also earns praise for his ability to draft concise documents.

Sources describe Juan Manuel De Remedios as "super-approachable and really willing to help." His dual qualification in Spain and the USA makes him a particularly valuable asset on M&A transactions that are financed by US law-governed loan facilities or international capital markets.

Yoko Takagi is well known to peers for her experience in equity capital markets, acquisition finance and M&A matters. "Given that she has experience in international law it is helpful to get her view from the UK or US perspective," notes one interviewee.

About the Team (content provided by White & Case LLP)

To learn more about our practice, please visit: whitecase.com/law

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Andersen Tax & Legal - Corporate/M&A Department

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Band 5

第五等

Chambers Commentary (based on the Chambers research)

What the team is known for Generates considerable interest among market commentators for the integration of the Olleros Abogados team into its international network. Has demonstrable experience in corporate governance topics, the structuring of joint ventures and in mid-cap M&A operations. Leverages close relationships with US firms to attract roles in high-value corporate restructuring mandates.

Strengths Sources highlight the lawyers' "broad knowledge, experience and rapid response."

"The firm is well known in the market and is increasingly being recognised as one of the players," reports one peer.

Work highlights Advised Reproductive Medicine Associates of New Jersey on Spanish law aspects of its agreement with Equipo IVI to create joint venture company IVI-RMA Global.

Assisted CompuGroup Medical with its acquisition of the remaining shares in Medigest Consultores.

Notable practitioners

Jaime Olleros is the managing partner of the firm and a key contact for the corporate team.

About the Team (content provided by Andersen Tax & Legal)

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Bird & Bird - Corporate/M&A Department

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Band 5

第五等

Chambers Commentary (based on the Chambers research)

What the team is known for Smaller local practice which predominantly acts for foreign corporates or their Spanish subsidiaries on multi-jurisdictional M&A matters. Particularly active in the IT and life sciences sectors.

Strengths Clients benefit from a close working relationship with the key corporate partner, noting: "Bird & Bird to me is outstanding because the partner is a unique lawyer."

Work highlights Advised Nuance Communications on the acquisition of Agnitio. The EUR15 million transaction was subject to English law and was co-ordinated with colleagues in London.

Assisted The Tervalis Group with the restructuring of its Senegalese mining operations.

Notable practitioners

Lourdes Ayala is widely recognised as the driving force behind the firm's Spanish M&A practice. Clients highlight her "productive and no-nonsense handling of questions," noting: "She is naturally smart and is so fast in her thinking that she's always one step ahead of what's going on."

About the Team (content provided by Bird & Bird)

Our Corporate team strongly seeks a business-oriented approach and we support our clients providing more than a pure and simple legal advice, by understanding the economic aspects of the transactions in which we advise and the business of the client. We are proud to say that we make things possible when other firms cannot.

The team has experience in handling the widest range of transactions, from start-ups to the largest and most complex deals, whether cross-border or domestic. Its main areas of expertise are mergers & acquisitions, spin-offs, joint ventures, corporate and debt restructurings and general corporate advice. The department is highly focused on sectors, especially on food & beverage, technology, life sciences and pharma. Our clients range from multinationals to SME’s and entrepreneurs.

The peculiarity of this year was our intense activity on very complex M&A deals successfully requiring the coordination of, among others, IP and regulatory technical experts and the coordination of legal teams from multiple foreign jurisdictions involving Bird & Bird´s extensive network of own offices and best friends firms.

Our most salient feature has been and will continue to be, our ability to "make things happen" for the client due to the combination of intense technical knowledge and profound expertise of both M&A matters and the relevant underlying sectors that have enabled us to provide the clients with creative and effective solutions.


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Deloitte Legal SLP - Corporate/M&A Department

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Band 5

第五等

Chambers Commentary (based on the Chambers research)

What the team is known for Earns praise for its ability to cope with significant due diligence issues in larger transactions. Assists Spanish corporates and their shareholders with negotiations for corporate restructurings, M&A acquisitions or real estate-focused transactions. Also benefits from strong tax law capabilities.

Strengths Clients note the firm's experience working on transactions that are demanding from a due diligence standpoint: "They understand the due diligence process and are able to pass issues on through the contract very well."

Interviewees further highlight the firm's strength in cross-border deals, saying: "The international coverage is one of their main qualities."

Work highlights Advised Grup Ibervending on its restructuring and subsequent sale to IVS Iberica subsidiary Distribuidores Automáticos Vending.

Assisted Galician milk co-operatives Feiraco, Irmandiños and Melisanto with their agreement to merge into Cooperativas Lácteas Unidas.

Notable practitioners

Key M&A mandates for Francisco Mayor include his advice to the former stakeholders in ASM Transporte Urgente on the sale of the company to General Logistics Systems. Clients say that "he is able to balance our legal and commercial interests very well."

About the Team (content provided by Deloitte Legal SLP)

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Eversheds Nicea (a member of Eversheds Sutherland) - Corporate/M&A Department

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Band 5

第五等

Chambers Commentary (based on the Chambers research)

What the team is known for Leverages a significant network of international offices and particularly strong ties to the UK market to attract cross-border corporate mandates. Assists with the Spanish aspects of global corporate restructuring as well as M&A operations. Also advises funds and individuals on structuring investments into Spanish industrial companies or real estate assets.

Strengths "They are accessible and responsive," reports one impressed client.

"They explain things in a very infor mative way," notes another interviewee, going on to explain: "They don't just tell us about the law but tell us about the practicalities."

Work highlights Assisted Iron Mountain with its global acquisition of Recall Holdings. The firm advised on Spanish corporate, real estate and employment law issues flowing from the absorption of Recall into Iron Mountain's Spanish business.

Coordinated with colleagues in the UK to advise on the disposal of Grass Roots' Spanish subsidiary. The transaction was made within the context of Blackhawk Network's planned acquisition of Grass Roots' other global operations.

Notable practitioners

Carlos Pemán receives praise for his English language skills and for his experience working on cross-border deals involving US and UK corporates. He was part of the team that advised the shareholders of Learnlight Group on the sale of a stake in the company to Beech Tree Private Equity. Clients note that "he can change gear when in tough negotiations."

Diego Cruz-Villalón earns considerable praise for his supporting role on corporate restructuring mandates. "He's very personable and he knows what he's talking about," states one interviewee, going on to say: "He advises on the best way to keep our business flowing rather than trying to stop everything because of a legal issue."

About the Team (content provided by Eversheds Nicea (a member of Eversheds Sutherland))

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KPMG Abogados - Corporate/M&A Department

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Band 5

第五等

Chambers Commentary (based on the Chambers research)

What the team is known for Specialises in representing Spanish clients from the financial services industry in sales or acquisitions of loan servicing platforms or NPL portfolios. Often assists with the drafting and negotiation of SPAs and commercial agreements as an add-on to due diligence services provided by the well-resourced transaction services team. An extensive international network supports the team's capacity for undertaking cross-border matters, including those that touch on the Latin American market.

Strengths "The lawyers have a holistic view of Spanish and international law, so they can provide us with a very complete view of matters," says one client.

Interviewees further praise the lawyers' negotiation skills: "They have the right skills to assess the situation, understand what is the best option for the client and concede points in a way that is both reasonable for their client and obtains the desired result."

Work highlights Advised Santander on the reduction of its shareholding in Aktua Soluciones Financieras Holdings. Lindorff acquired 94% of the real estate loan servicing platform, following which the firm assisted with a subsequent transaction that saw Santander acquire 15% of Aktua.

Advised Banco Popular on the ER69.5 million sale of its mortgage management platform to Indra.

Notable practitioners

Augusto Piñel Rubio is a key contact based in Madrid.

About the Team (content provided by KPMG Abogados)

The M&A department provide the best advice with the aim to help the clients to mitigate risks and grasp opportunities. We handle all manner of Corporate M&A matters, including disposals, acquisitions, corporate governance, joint ventures and share capital increases.

We operate across a wide range of sectors, including energy, infrastructure, real estate, media industrial market and insurance. In the Financial Services sector, our department has led some of the most complex transactions and is recognized for its innovative approach. Thanks to our extensive global network, we operate smoothly across borders.

We are fully integrated with the financial, tax, corporate finance and labour due diligence teams, and are therefore able to provide early availability of transaction documents and negotiations in parallel with diligence and tax structuring processes. Such integrated advice on all matters affecting the
transaction provides a high added value to our clients.

KPMG Abogados provides Legal and Tax services and industry insight to help organizations negotiate risks and perform in the dynamic and challenging environments in which they do business. We provide deep expertise and add value in a way that speaks directly to the priorities of our clients.

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ONTIER - Corporate/M&A Department

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Band 5

第五等

Chambers Commentary (based on the Chambers research)

What the team is known for Growing presence at both a domestic and international level owing both to a series of significant hires and increasing recognition for work on behalf of key Mexico-based clients. Frequently assists with high-value corporate and equity capital markets mandates through which foreign investors increase shareholdings in Spanish infrastructure and real estate companies.

Strengths Interviewees appreciate that the firm offers "accurate analysis and solutions and an understanding of how to treat clients."

Market commentators highlight the firm's rapid growth through a programme of lateral hires.

Work highlights Assisted Patentes Talgo with ongoing issues relating to its participation in the Mecca-Medina high speed rail project consortium.

Advised the former shareholders of Eptisa Servicios de Ingeniería on the sale of a majority stake in the company to JSTI Group.

Notable practitioners

Pablo Enrile is a key contact in the firm's corporate department.

About the Team (content provided by ONTIER)

The Corporate and M&A practice area provides two types of services to both domestic and international clients. The first service is categorised as advice in all types of corporate transactions and acquisitions, as we have taken part in numerous transactions in various sectors, specialising in the energy, industrial, services, telecommunications, property and distribution fields.
The second service consists of daily advice as a result of global agreements with our main clients, enabling us to have an extensive knowledge of their business with the aim of providing legal advice which is focused on achieving our clients´ strategic goals.
The Firm occupies secretary and/or legal advice positions in Boards of Directors within leading businesses in sectors such as energy, industrial, retail and leisure.

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RCD – Rousaud Costas Duran - Corporate/M&A Department

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Band 5

第五等

Chambers Commentary (based on the Chambers research)

What the team is known for Focuses on mid-market mandates for clients in the life sciences, IT and telecommunications industries. Handles private M&A mandates, joint ventures, corporate restructuring and day-to-day corporate advisory work. Has strong capabilities on both sides of venture capital investments into Spanish technology, pharmaceutical or medical devices companies.

Strengths "They understand what we want to achieve, so we find them by our side and thinking and reasoning as if they were in-house lawyers," says one client, going on to say: "They are ahead of what is going to happen, so they can imagine different outcomes that are not so obvious and then prepare for those to come up in negotiations."

"The firm has a lot of experience in the technology and start-up sector and you can feel that when they give you advice," reports one client.

Notable practitioners

Íñigo Montesino-Espartero Velasco advises corporate clients on smaller M&A operations that often have a cross-border element. Clients appreciate that he invests time to understand their business and offers close support in transactions.

About the Team (content provided by RCD – Rousaud Costas Duran)

The team provides legal services for the development and execution of complex transactions, including, but not limited to, due diligence, negotiation and drafting of contracts, and investment and divestment strategy definition. The Team is considered a legal reference point for venture capital and private equity firms and and it is ranked every year among the top firms on lists of the most active legal advisors.

For further information please visit our website: www.rousaudcostasduran.com/en/mercantil

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Roca Junyent - Corporate/M&A Department

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Band 5

第五等

Chambers Commentary (based on the Chambers research)

What the team is known for Long-standing presence in Barcelona with additional supporting offices spread across Spain and into China. Undertakes mid-cap M&A mandates and joint ventures for both Spanish and foreign investors. Has additional capabilities in real estate transactions involving shopping centre assets in Madrid and Barcelona. Also acts for public sector clients.

Strengths Market commentators highlight the firm's prominence in the Catalan market and its activity in relevant deals.

Notable practitioners

Joan Roca Sagarra advises on corporate governance, M&A and equity capital markets topics in addition to his role in the management of the firm. He is known among peers as an experienced practitioner.

About the Team (content provided by Roca Junyent)

The Roca Junyent Mergers & Acquisitions Division (M&A) advises clients throughout the entire process of purchase or sale of companies, joint ventures, MBO/MBI, LBO/LBI and BIMBO operations, start•ups, mergers and corporate restructuring operations, and purchase/sale of companies or production units experiencing difficulties or undergoing bankruptcy proceedings.

PREPARATION

  • Design and implementation of the most suitable legal and tax structure.
  • Previous restructurings.
  • Review of Competition Law and regulatory implications.
  • Assistance, negotiation and drafting of preliminary documents (Letter of Intent /MOU, Exclusivity Agreements, Non-disclosure Agreements).

DUE DILIGENCE

  • Conduct of Legal, Employment and Tax DD (vendor and purchaser DDs).
  • Arrangement of Data Rooms.

FORMALISATION

  • Assistance, negotiation and drafting of the Stock Purchase Agreement, Shareholders’ Agreement and other related documents.

POST-CLOSING SERVICES

  • Implementation of post•closing arrangements.
  • Post-closing restructuring.
  • Advice on post-closing, corporate-related matters.

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Ventura Garcés & López-Ibor - Corporate/M&A Department

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Band 5

第五等

Chambers Commentary (based on the Chambers research)

What the team is known for Well-established Spanish team providing advice to clients on diverse corporate and commercial matters which span M&A, corporate restructurings, licence agreements and real estate lease agreements. Typically acts on smaller and mid-cap transactions, with some experience in larger cross-border mandates.

Strengths Clients appreciate that the lawyers are "always able to put themselves in our shoes so it feels almost as though they are part of our internal team."

"They provide a balanced and very informative response regarding each open issue," adds another client.

Notable practitioners

Claudi Garcés and Marta Gil de Biedma are key points of contact in the firm's Barcelona and Madrid offices respectively.

About the Team (content provided by Ventura Garcés & López-Ibor)

Department profile not yet provided by Ventura Garcés & López-Ibor. Please see their firm profile.

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Senior Statesperson

Linklaters

From the Chambers Europe guide

Jaime Zurita is a well known name in the market. His expertise spans corporate and capital markets transactions, and he is active in mandates in the hospitality, retail and energy sectors.

^ See whole ranking table

Star Individuals

Garrigues

From the Chambers Europe guide

Fernando Vives is an established figure at the top of the Spanish market and is credited with regularly attracting standout corporate governance and M&A mandates to the firm. "He adds value because of his clarity in explaining situations and his rapidity in answering queries," says one client, while another says: "He has an easy-going attitude and is kind, polite and discrete." Vives played a leading role in advice to BBVA on its merger by absorption with Catalunya Banc.

^ See whole ranking table

Band 1

José Armando Albarrán

Freshfields Bruckhaus Deringer

From the Chambers Europe guide

José Armando Albarrán is widely recognised as a prominent figure in the Spanish market who focuses on high-value M&A transactions. Clients appreciate that Albarrán offers a "good strategic view of transactions" and that "he discusses the risks that we have in the transaction and what we can do in order to avoid them. He has a very practical approach."

^ See whole ranking table

Band 1

Javier García de Enterría

Clifford Chance LLP

From the Chambers Europe guide

Interviewees highlight Javier García de Enterría's valuable technical contributions to the structuring of corporate transactions. "It is extremely helpful to discuss with him the really complex legal issues there might be at the outset," says one source. He advised Värde Partners on its acquisition of 40% of La Finca Global Assets.

^ See whole ranking table

Band 1

Juan Miguel Goenechea

Uría Menéndez

From the Chambers Europe guide

Clients say that Juan Miguel Goenechea is "super commercial, has lots of empathy and a good character in order to make difficult negotiations very easy." He is well known to peers as a leading partner who acts on important corporate and private equity transactions. He advised Metrovacesa on the spin-off of its commercial, residential rental and non-strategic development projects businesses into Merlin Properties, Testa Residencial and Metrovacesa Promoción y Arrendamiento respectively.

^ See whole ranking table

Band 1

Álvaro López-Jorrín

Garrigues

From the Chambers Europe guide

Interviewees praise Álvaro López-Jorrín for his technical skills and say that he is "pragmatic and focused on getting the deal done; he doesn't waste time on unnecessary discussions." "He's quick and always gives effective solutions," report clients. He often handles high-value public and private M&A transactions on behalf of key clients in the financial and telecoms sectors. Peers highlight his prominence in major deals, saying: "He's definitely one of the names to be followed in this market."

^ See whole ranking table

Band 1

Linklaters

From the Chambers Europe guide

Peers note Alejandro Ortiz's presence in many of the most high-profile M&A transactions in the Spanish market. "He has been in so many deals that he can give you things others can't," reports one client, going on to say: "He knows what will happen with almost complete certainty because he has been there and he has done it." Interviewees further highlight Ortiz's broader knowledge of finance issues, saying: "He has good judgement and looks at things from a banking perspective too, which is helpful."

^ See whole ranking table

Band 1

Pedro Pérez-Llorca

Pérez-Llorca

From the Chambers Europe guide

Peers describe Pedro Pérez-Llorca as "an absolute star in the market" and highlight his significant contributions to the firm's ever-growing reputation for complex corporate transactions. "From the start of our relationship he has been very impressive: he knows what he is talking about, is hands-on and practical," says one client. "He is highly respected in the legal world, is really balanced and knows how to reach agreements," notes another interviewee.

^ See whole ranking table

Band 1

Latham & Watkins

From the Chambers Europe guide

Juan Picón enjoys a tremendous reputation in the Spanish M&A space."He knows everyone in the market, picks up the phone and can speak to you and is extremely commercial," sums up one client. Interviewees are impressed with his ability to "mobilise the resources in the firm well"and state: "His main strength is that he's just an exceptional person and gets on with everyone." He is regularly involved in major transactions involving international private equity clients.

^ See whole ranking table

Band 1

Salvador Sánchez-Terán

Uría Menéndez

From the Chambers Europe guide

Salvador Sánchez-Terán is widely respected among peers for his M&A work on behalf of the firm's key banking clients. He also acts for major Spanish corporates on high-value international transactions. "The best level of service we have received in Spain comes from Uría and from Sánchez-Terán's team," reports one impressed client.

^ See whole ranking table

Band 2

Clifford Chance LLP

From the Chambers Europe guide

Javier Amantegui is well known to peers for his key role both in corporate and private equity-driven transactions. He led the firm's advice to Cinven on its acquisition of Tinsa from Advent International. Clients highlight his negotiating skills, saying: "He knows when he has to be soft or when to be tough." "He has a good understanding of everything that is going on in our transaction and follows up on all of the issues," notes another interviewee.

^ See whole ranking table

Band 2

Enrique Carretero

Baker McKenzie

From the Chambers Europe guide

Clients describe Enrique Carretero as "experienced, knowledgeable and a safe pair of hands." In addition to his work on some of the firm's most high-value public M&A mandates Carretero handles some smaller domestic deals. He assisted with the structuring of film sector investment vehicle Mogambo Ventures.

^ See whole ranking table

Band 2

Freshfields Bruckhaus Deringer

From the Chambers Europe guide

Peers note David Franco's role in important banking sector M&A and restructuring transactions and describe him as "smart and commercial." Clients appreciate that "he has a straightforward style and is prepared to listen," adding: "He has great technical knowledge and is able to explain issues to anyone so that they can understand perfectly." Franco advised Barclays Bank on the sale of Barclaycard in Portugal and Spain to Bancopopular-e.

^ See whole ranking table

Band 2

Cándido Paz-Ares

Uría Menéndez

From the Chambers Europe guide

Cándido Paz-Ares is best known for his vast experience in corporate governance matters. He acts for major Spanish listed and non-listed corporates on advisory and transactional mandates. "He is always directly involved in the transactions and is definitely a deal-oriented person," report peers.

^ See whole ranking table

Band 2

Cuatrecasas

From the Chambers Europe guide

Federico Roig is popular among peers for his work on energy and telecoms transactions, often on behalf of financial services clients. "It is easy to work with him because he is smart and fights for the relevant points," says one source. "He looks to find solutions so that the deal can happen," notes another interviewee, adding: "He lets the client know the risks of the transaction but is super-constructive."

^ See whole ranking table

Band 2

Araoz & Rueda

From the Chambers Europe guide

Pedro Rueda consistently attracts superb praise for his work on mid-cap M&A mandates. "I can pick up the phone and call Pedro and he's 100% up to date on every bit of advice we have had," says one interviewee, whilst another adds: "He's involved in everything and can spot issues in the contracts in seconds." Sources also draw attention to his English language skills and his experience in handling cross-border transactions.

^ See whole ranking table

Band 2

Fernando Torrente

Allen & Overy LLP

From the Chambers Europe guide

Interviewees expect Fernando Torrente to provide a valuable boost to the firm's corporate and equity capital markets capabilities owing to his considerable experience in the market. "He has a huge amount of experience in M&A," says one source.

^ See whole ranking table

Band 2

Antoni Valverde Roy

Allen & Overy

From the Chambers Europe guide

Antoni Valverde Roy leads cross-border M&A matters from his base in the firm's Barcelona office. He stands out for his work for key Spanish infrastructure clients that are actively investing in Asian and Latin American toll road concessions. He also assisted TUI with its EUR1.2 billion disposal of Hotelbeds to Cinven and the CPP Investment Board. 

^ See whole ranking table

Band 2

Javier Villasante

Cuatrecasas

From the Chambers Europe guide

Clients value Javier Villasante's willingness to give clear advice, saying: "With him the answer is either yes or no, 'do it' or 'don't do it'."  He handles cross-border M&A transactions for many of the firm's major infrastructure clients, as showcased in advice to Cintra Infraestructuras on the sale to Dif of significant shareholdings in Portuguese highways concessionaires AutoEstradas Norte Litoral and Via do Infante. Villasante is one of the key drivers behind the firm's activity in the Mexican market.

^ See whole ranking table

Band 2

Víctor Xercavins

Cuatrecasas

From the Chambers Europe guide

Highlight mandates for Víctor Xercavins include his advice to Caixabank on its EUR904 voluntary takeover offer for 55.9% of Portuguese-listed Banco BPI.  "He is an excellent negotiator and clearly understands where the risks are in an M&A transaction," reports one client, while another highlights Xercavins's "business-oriented and practical approach."

^ See whole ranking table

Band 3

Baker McKenzie

From the Chambers Europe guide

Jorge Adell heads the firm's Barcelona practice and handles diverse corporate transactions including those in the healthcare, retail and real estate sectors. "He is able to understand the problems and look for solutions that will be acceptable to both sides," says one interviewee, while another notes: "He is very calm in negotiations and makes things easy for his clients."

^ See whole ranking table

Band 3

César Albiñana Cilveti

CMS

From the Chambers Europe guide

Clients like that César Albiñana Cilveti is "close and approachable," while peers note his long-standing presence in the market. He is a key contact for many of the firm's leading Spanish corporate clients and leads both governance and transactional mandates.

^ See whole ranking table

Band 3

Bird & Bird

From the Chambers Europe guide

Lourdes Ayala is widely recognised as the driving force behind the firm's Spanish M&A practice. Clients highlight her "productive and no-nonsense handling of questions," noting: "She is naturally smart and is so fast in her thinking that she's always one step ahead of what's going on."

^ See whole ranking table

Band 3

José María Balañá

Hogan Lovells International LLP

From the Chambers Europe guide

José María Balañá heads the Spanish office and leads the firm's advice to key Asian, Middle Eastern and UK-based corporate clients. "He's on top of things and any time I need to discuss with him he is always available, even if it is the weekend or when he is travelling," says one client, while another reports: "He works seamlessly with other offices of Hogan Lovells globally."

^ See whole ranking table

Band 3

Pérez-Llorca

From the Chambers Europe guide

Javier Carvajal is one of several new hires to the corporate team who are expected to add to the firm's public and private M&A capabilities. "He makes complex matters seem simple," reports one interviewee, while another says: "He is always available and has very good ideas. We really like the way he works because he knows us perfectly and we don't need to explain things to him twice."

^ See whole ranking table

Band 3

Luis Miguel de Dios Martínez

CMS

From the Chambers Europe guide

Luis Miguel de Dios Martínez regularly assists German industrial companies with investments into Spain. His experience working together with German colleagues was showcased in advice to Bruker on its acquisition of Oncovision's preclinical PET imaging business line. Interviewees highlight his client-oriented approach.

^ See whole ranking table

Band 3

Hogan Lovells International LLP

From the Chambers Europe guide

Alex Dolmans leverages his language skills and international experience to attract roles predominantly on the buy side of inbound investments into Spain. "He makes the complex commercial and corporate issues easy to understand," says one client. Dolmans advised Europcar group company Ubeeqo on its expansion into the Spanish market through the acquisition of Bluemove.

^ See whole ranking table

Band 3

Garrigues

From the Chambers Europe guide

Ramon Girbau is known to peers as an important figure in the firm's Barcelona office. His experience in complex M&A topics was evident in advice to Air France-KLM on various block trades and derivatives transactions aimed at restructuring its shareholding in Amadeus IT Holding.

^ See whole ranking table

Band 3

Linklaters

From the Chambers Europe guide

Alexander Kolb receives praise from peers for his measured approach to negotiations, which "helps us to have a smooth transaction in a very controlled atmosphere." He advised Telefónica on the sale to IBM of its Tgestiona businesses in Spain, Peru and Argentina.

^ See whole ranking table

Band 3

Hogan Lovells International LLP

From the Chambers Europe guide

Peers highlight Graciela Llaneza's hard-working and hands-on approach, saying: "She deals directly with the client and drafts the agreements." "She is able to mobilise her team quickly so that we have a clear, easily understandable and practical answer," say clients. She acts for corporate and private equity clients on diverse transactions. Standout mandates include advice to Affidea on its buyout of Alantra Private Equity's portfolio company Q Diagnóstica.

^ See whole ranking table

Band 3

Herbert Smith Freehills

From the Chambers Europe guide

Nicolás Martín regularly assists the firm's investment funds clients with private equity, infrastructure asset and debt portfolio transactions. Clients value his strategic advice in complex transactions and note that "he takes leadership in negotiations."

^ See whole ranking table

Band 3

María José Menéndez

Ashurst

From the Chambers Europe guide

Peers note María José Menéndez's particular expertise in insurance sector transactions, which was showcased in advice to Elliott Advisors and Ember Insurance Capital CP on their joint acquisition of Banco Sabadell's life insurance division Mediterráneo Vida.

^ See whole ranking table

Band 3

Ignacio Pallarés

Latham & Watkins

From the Chambers Europe guide

Ignacio Pallarés receives praise for his ability to "put himself in the client's shoes so you feel like he's taking care of your interests." "He is smart, creative and responsive," adds another interviewee. Pallarés often handles cross-border M&A transactions for institutional investors or foreign corporates. He led the firm's advice to Apical Group on its acquisition of a 67.65% stake in Bio-Oils Energy.

^ See whole ranking table

Band 3

Roberto Pomares Botana

King & Wood Mallesons

From the Chambers Europe guide

Peers highlight Roberto Pomares Botana's presence in many of the firm's key M&A transactions. He advises both corporate clients and investment funds on transactions that are predominantly in the energy and real estate sectors. Standout mandates include advice to Capital Dynamics on the exercise of its put option on shares in Grupo T-Solar Global.

^ See whole ranking table

Band 3

José Antonio Sánchez Dafos

Latham & Watkins

From the Chambers Europe guide

A client appreciates that José Antonio Sánchez-Dafos is "always available if I call or write a message on very short notice and can discuss everything that I need to know." He frequently assists international corporates with their M&A transactions.

^ See whole ranking table

Band 3

Rafael Sebastián

Uría Menéndez

From the Chambers Europe guide

Rafael Sebastián led the team that advised Gamesa Corporación Tecnológica on its high-profile merger with Siemens Wind Power. Sources say that he is "an excellent transaction manager," noting: "His clients really rely on him and listen to him because of his technical skills and the input that he delivers."

^ See whole ranking table

Band 3

Cuatrecasas

From the Chambers Europe guide

Raimundo Segura has considerable experience in international M&A transactions for Spanish family businesses and corporates. Clients say that he is reliable, efficient and has the "ability to quickly get to the important issues in contractual negotiations."

^ See whole ranking table

Band 3

Rafael Suárez de Lezo

CMS

From the Chambers Europe guide

Standout mandates for Rafael Suárez de Lezo include his advice to Acciona on the various corporate transactions that effected its wind power partnership with Nordex. Peers know him as an experienced M&A partner and praise his negotiation skills.

^ See whole ranking table

Band 3

Ashurst

From the Chambers Europe guide

Jorge Vázquez is best known for his M&A work on behalf of investment funds. Peers note his activity in infrastructure and real estate transactions and describe him as a "tough, talented lawyer."

^ See whole ranking table

Band 3

Clifford Chance LLP

From the Chambers Europe guide

Jaime Velázquez earns considerable praise from peers for his role on several of the firm's key M&A mandates. "He has really good judgement and gives proactive solutions and ideas," says one client, adding: "He is really efficient and manages to get work moving forward quickly." Velázquez headed the combined corporate, real estate and public law team that advised Carrefour on its acquisition of a portfolio of shopping centres and petrol stations from Eroski.

^ See whole ranking table

Band 4

Cuatrecasas

From the Chambers Europe guide

Peers expect Juan Aguayo to play an increasingly prominent role on the firm's public M&A and ECM mandates. "He doesn't overcomplicate things but rather is responsive, commercial and makes my life easier," states one impressed client.

^ See whole ranking table

Band 4

Alberto Alonso Ureba

Ramón y Cajal Abogados

From the Chambers Europe guide

Alberto Alonso Ureba has joined Ramón y Cajal as head of corporate. He is best known for his governance and transactional work on behalf of banking sector clients. Interviewees note his vast technical knowledge of corporate law, saying: "All firms have a lawyer who knows about this angle but he is a step above."

^ See whole ranking table

Band 4

White & Case LLP

From the Chambers Europe guide

Carlos Daroca leads many of the firm's major corporate and private equity-driven M&A transactions. Clients appreciate that he is "concerned about understanding our business and the risks, so he avoids problems and can tell us where we need to focus." Daroca also earns praise for his ability to draft concise documents.

^ See whole ranking table

Band 4

Juan Manuel De Remedios

White & Case LLP

From the Chambers Europe guide

Sources describe Juan Manuel De Remedios as "super-approachable and really willing to help." His dual qualification in Spain and the USA makes him a particularly valuable asset on M&A transactions that are financed by US law-governed loan facilities or international capital markets.

^ See whole ranking table

Band 4

Allen & Overy LLP

From the Chambers Europe guide

Iñigo del Val moves up the rankings owing to the vast amount of praise that he receives from a large pool of corporate and financial services clients. Sources say that he "knows how to be commercial in that he tries to think out of the box and find solutions," going on to note: "He is also commercial with the other side's lawyers. He works very well with other people, which is to the benefit of the overall transaction." "He advises on how best to protect our interests and commercially how to achieve a deal," reports another impressed client.

^ See whole ranking table

Band 4

Uría Menéndez

From the Chambers Europe guide

Manuel Echenique is best known for his M&A work within the financial services sector. Peers note his activity on cross-border private equity transactions, while clients say that Echenique's technical skills and creativity enable him to be "very commercial, accommodate the difficulties in a transaction and find solutions."

^ See whole ranking table

Band 4

Juan Francisco Falcón

Uría Menéndez

From the Chambers Europe guide

Interviewees say that Juan Francisco Falcón is "proactive, dedicated and absolutely committed to the client." He was a key part of the team that advised Grupo Isolux Corsán on the termination of its energy and infrastructure joint venture Isolux Infrastructure Netherlands.

^ See whole ranking table

Band 4

Herbert Smith Freehills

From the Chambers Europe guide

Peers note Alberto Frasquet's activity in corporate and private equity mandates, while clients appreciate that "he develops good relations with lawyers on the other side so that they can solve many problems between themselves." He led the firm's advice to Nazca Capital on the sale of IMOncology to GenesisCare.

^ See whole ranking table

Band 4

Iñigo Gómez-Jordana

DLA Piper Spain

From the Chambers Europe guide

Iñigo Gómez-Jordana has the proven ability to manage huge M&A transactions. He led the firm's advice to Atlantia on its EUR16.3 billion bid for listed toll roads operator Abertis.

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Band 4

Uría Menéndez

From the Chambers Europe guide

Christian Hoedl's particular experience in private equity transactions was showcased in advice to Advent International on its auction sale of portfolio company Tinsa Tasaciones Inmobiliarias to Cinven. He receives praise from peers for his activity on complex mandates.

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Band 4

Pinsent Masons

From the Chambers Europe guide

Diego Lozano is one of a number of respected corporate lawyers tasked with building Pinsent Masons' new Madrid practice. He has a strong reputation among peers and has particular experience in private equity and infrastructure transactions.

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Band 4

Mónica Martín de Vidales

Garrigues

From the Chambers Europe guide

Mónica Martín de Vidales impresses peers for "the way she interacts with counterparties in negotiations; she's subtle, kind and commercial." She advised Mutua Madrileña on the sale of its 33% stake in Parkia to First State Investments.

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Band 4

Baker McKenzie

From the Chambers Europe guide

Peers highlight Javier Menor as an important partner in the Barcelona office with proven strength in M&A topics. "He combines technical skill with an exceptional ability to manage transactions in an intelligent and pragmatic way," say interviewees. "He is able to understand our needs and obtain the desired results," adds another client.

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Band 4

Hogan Lovells International LLP

From the Chambers Europe guide

Lucas Osorio has a broad practice that spans infrastructure M&A deals as well as the structuring of PPP projects across to corporate governance advice to leading Spanish real estate companies. Interviewees often highlight his negotiation skills, saying: "He is very calm, which helps to manage sometimes quite explosive situations."

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Band 4

Joan Roca Sagarra

Roca Junyent

From the Chambers Europe guide

Joan Roca Sagarra advises on corporate governance, M&A and equity capital markets topics in addition to his role in the management of the firm. He is known among peers as an experienced practitioner.

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Band 4

White & Case LLP

From the Chambers Europe guide

Yoko Takagi is well known to peers for her experience in equity capital markets, acquisition finance and M&A matters. "Given that she has experience in international law it is helpful to get her view from the UK or US perspective," notes one interviewee.

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Band 4

Manuel Vara Varea

Jones Day

From the Chambers Europe guide

Manuel Vara Varea plays an important role within the firm's global M&A offering. He was a key part of the firm's pan-European team that advised Euronext on its EUR510 million acquisition of LCH.Clearnet. Interviewees appreciate that his technical skills extend beyond M&A to diverse areas of law, noting: "He is a very well-rounded lawyer."

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Band 5

Francisco Aldavero

EY Abogados

From the Chambers Europe guide

Francisco Aldavero has joined EY Abogados to become head of the Spanish corporate team. He has an established reputation among market commentators for his work on behalf of private equity firms. Aldavero also increasingly looks to attract roles on outbound transactions for domestic corporate clients. Peers say that "he is such an experienced and seasoned lawyer that he knows the game very well."

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Band 5

J Almoguera Abogados

From the Chambers Europe guide

Jesús Almoguera of J Almoguera Abogados advises on corporate transactions as part of his broader restructuring and distressed investments practice. Interviewees praise his "ability to communicate and explain complex legal matters in English."

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Band 5

Xavier Amat Badrinas

Amat & Vidal-Quadras

From the Chambers Europe guide

Xavier Amat Badrinas of Amat & Vidal-Quadras advises on corporate topics ranging from reductions of capital in Spanish corporates through to the negotiation of international joint ventures. Clients say that "he is closely involved and tries to solve matters in as practical a way as possible."

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Band 5

MAIO Legal

From the Chambers Europe guide

MAIO Legal partner Marco Bolognini enters the rankings owing to strong praise from clients and peers for his mid-cap corporate practice. He advises on the structuring of international M&A transactions and on the negotiation of shareholders' or licence agreements. Interviewees highlight his "interpersonal skills for negotiations in difficult situations," saying: "He is appreciated by everyone around the table because he is always calm."

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Band 5

Jordi Casas Thió

Osborne Clarke

From the Chambers Europe guide

Jordi Casas Thió has joined Osborne Clarke in Barcelona to strengthen the firm's M&A practice. His experience working with clients in the IT sector was showcased in advice to the founders of Social Point on the USD250 million sale of the company to Take-Two Interactive Software.

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Band 5

Osborne Clarke

From the Chambers Europe guide

Vicente Conde is a high-profile hire to Osborne Clarke's Madrid office. He is well known to peers for his mixed corporate and equity capital markets practice.

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Band 5

Fernando de las Cuevas

Gómez-Acebo & Pombo

From the Chambers Europe guide

Fernando de las Cuevas often handles inbound investments into Spain from foreign corporates. He advised AVIC International Aero-Development on its EUR166.5 million acquisition of a 95% stake in Aritex. Peers note that "he has a good view of the whole of the transaction and can provide high-level advice that adds value."

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Band 5

Íñigo Erlaiz Cotelo

Gómez-Acebo & Pombo

From the Chambers Europe guide

Clients highlight Íñigo Erlaiz Cotelo's solution-oriented and conciliatory approach to negotiations along with his particular experience in private equity transactions. He is a key partner in the firm's corporate practice and leads a range of M&A, restructuring, joint venture and commercial contracts mandates.

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Band 5

Ashurst

From the Chambers Europe guide

Pedro Ester plays a leading role in many of the firm's investment fund transactions, including sales or acquisitions of portfolio companies or real estate investment vehicles. "He is constructive and deal-oriented," reports one peer, going on to explain: "We had a very collaborative atmosphere in negotiations whereby he was tough when needed but not too tough if the deal needed a push to move forward."

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Band 5

José María Fernández-Daza

Clifford Chance LLP

From the Chambers Europe guide

José María Fernández-Daza has significant experience in M&A transactions, including in the energy sector.

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Band 5

José María Gil-Robles Casanueva

Garrigues

From the Chambers Europe guide

José María Gil-Robles Casanueva has particular experience in corporate transactions involving distressed companies or NPL and real estate asset portfolios. Interviewees note his close links to the UK market and appreciate his ability to be creative in complex deals.

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Band 5

Linklaters

From the Chambers Europe guide

Lara Hemzaoui stands out for her leading role in several of the firm's cross-border M&A and energy project mandates. She also advises on real estate transactions.

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Band 5

PwC Tax and Legal Services

From the Chambers Europe guide

Highlight mandates for Francisco Iso of PwC Tax and Legal Services include his advice to the management of Hotelbeds Group on the EUR1.165 billion acquisition of the company by Cinven and the CPP Investment Board. He advises institutional investors and the management teams of international companies both on due diligence mandates and on the subsequent design and negotiation of corporate contracts.

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Band 5

Mavens Abogados

From the Chambers Europe guide

Clients often highlight Teresa Martin's negotiation skills, saying: "She sees in advance where the problems may be." "She is thorough, insightful, dedicated and passionate about her work," reports one interviewee, while another notes: "She quickly understands situations and is able to give a quick and effective response." Martin heads the team at Mavens Abogados and handles corporate restructurings, M&A deals and governance matters on behalf of Spanish corporates or their individual shareholders.

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Band 5

Deloitte Legal SLP

From the Chambers Europe guide

Key M&A mandates for Francisco Mayor include his advice to the former stakeholders in ASM Transporte Urgente on the sale of the company to General Logistics Systems. Clients say that "he is able to balance our legal and commercial interests very well."

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Band 5

Garrigues

From the Chambers Europe guide

Sources say that Renata Mendaña is "intelligent, flexible and ready and available at all times." She stands out for her work on corporate transactions with a strong real estate component, having led the firm's advice to OHL Desarrollos on the EUR225 million investment by Mohari Limited into development project Centro Canalejas Madrid.

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Band 5

Íñigo Montesino-Espartero Velasco

RCD – Rousaud Costas Duran

From the Chambers Europe guide

Íñigo Montesino-Espartero Velasco advises corporate clients on smaller M&A operations that often have a cross-border element. Clients appreciate that he invests time to understand their business and offers close support in transactions.

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Band 5

Freshfields Bruckhaus Deringer

From the Chambers Europe guide

Javier Monzón earns increasing recognition from peers as a key partner in the Madrid team. Clients highlight his negotiation skills, saying: "He is pragmatic in that he doesn't go too much into details but rather knows what is important for each party and looks for the best way to bridge the gap." "He is able to simplify things, taking a holistic view of the problem and identifying the main issues," adds one impressed interviewee.

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Band 5

Eversheds Nicea (a member of Eversheds Sutherland)

From the Chambers Europe guide

Carlos Pemán receives praise for his English language skills and for his experience working on cross-border deals involving US and UK corporates. He was part of the team that advised the shareholders of Learnlight Group on the sale of a stake in the company to Beech Tree Private Equity. Clients note that "he can change gear when in tough negotiations." 

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Band 5

Garrigues

From the Chambers Europe guide

Ildefonso Polo earns considerable praise from market commentators for his technical abilities and his dedication. "Despite being a partner you really feel that he is 100% on top of the transaction," reports one client, going on to say: "He takes ownership and responsibility for everything in the same way as we would expect of someone in our in-house team, which gives us a lot of confidence."

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Band 5

Antonio Sánchez Montero

Pinsent Masons

From the Chambers Europe guide

Antonio Sánchez Montero brings his experience in real estate and corporate transactions to his new role as partner in Pinsent Masons in Madrid. Interviewees appreciate that "he is hands-on and personally takes on a large part of the burden in transactions."

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Band 5

Broseta Abogados

From the Chambers Europe guide

Interviewees highlight Julio Veloso's language skills and describe him as an "organised person who is flexible to the needs of the client." He heads the department and acts on M&A, investment funds and corporate restructuring mandates. Veloso was a key part of the team that advised Keraben Grupo on the sale of its bathroom fittings subsidiary Construplas to MBO Partenaires and Aquasourça.

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Up and Coming

Clifford Chance LLP

From the Chambers Europe guide

Peers note Luis Alonso's growing profile in the Spanish market. He has played an important role in the firm's major telecoms and banking sector transactions. Clients highlight his "great knowledge of our business, personal involvement and great negotiation skills."

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Up and Coming

Clifford Chance LLP

From the Chambers Europe guide

Samir Azzouzi enters the rankings owing to superb praise for his corporate work predominantly on behalf of private equity firms. "He is clearly a rising star in corporate law in Spain," says one client, whilst another notes: "He is hard-working, hands-on and helpful." "He is an excellent lawyer both in terms of his technical ability and his interpersonal skills," says one impressed interviewee.

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Up and Coming

Pablo González Mosqueira

Pérez-Llorca

From the Chambers Europe guide

Standout mandates for Pablo González Mosqueira include his advice to Ardagh Group on its USD3.4 billion acquisition of Brazilian, US and EU manufacturing plants that were sold by Ball and Rexam in order to meet competition law requirements. Clients highlight his impressive technical skills.

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Up and Coming

Allen & Overy LLP

From the Chambers Europe guide

Ignacio Hornedo supports both international investment funds and domestic corporate clients in M&A transactions. "He is responsive, pragmatic and his advice is always clear," says one client, adding: "He establishes a good rapport with the other side."

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Up and Coming

Francisco San Miguel

Uría Menéndez

From the Chambers Europe guide

Impressed peers highlight Francisco San Miguel as an increasingly important presence in the firm's banking M&A transactions. Interviewees note his skill in negotiations and say that he is able to be "commercial with his client and with the counterparties."

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Associates to watch

Diego Cruz-Villalón

Eversheds Sutherland

From the Chambers Europe guide

Diego Cruz-Villalón earns considerable praise for his supporting role on corporate restructuring mandates. "He's very personable and he knows what he's talking about," states one interviewee, going on to say: "He advises on the best way to keep our business flowing rather than trying to stop everything because of a legal issue."

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