The Legal 500

Clifford Chance demonstrates ‘industry savvy’ and a ‘consistently high level of quality’ on domestic and international transactions. Recent highlights include advising Red Eléctrica de España on acquiring the electric power transmission assets of Endesa Distribución Eléctrica. José María Fernández-Daza has ‘encyclopaedic knowledge’ while Jaime Velázquez ‘understands the business drivers of a project and how to run a team efficiently’. Javier García de Enterría has ‘excellent knowledge on securities and corporate law’.

Cuatrecasas, Gonçalves Pereira provides ‘advice of the highest quality’ and has ‘a friendly and business-oriented approach, coupled with high technical standards’. Recent highlights include advising Unicaja on its €3bn merger with Caja Jaén as well as Enel on buying a share in Endesa from Acciona. Víctor Xercavins is ‘one of the greatest Spanish M&A lawyers’. Emilio Coco is also recommended.

For many clients, Freshfields Bruckhaus Deringer is the ‘first choice when doing big corporate transactions’. Armando Albarrán is ‘one of those few sophisticated lawyers who deliver advice in an understandable and commercial manner’. The firm plays a leading role in major corporate M&A transactions, private equity deals and restructurings. Recent highlights include acting for Gas Natural on its merger with Unión Fenosa and Unión Fenosa Generación, and advising a consortium of real estate focused private equity funds led by RREEF on the €1.2bn sale and leaseback of some 1,000 bank branches and landmark buildings throughout Spain.

Garrigues has been acting on the proposed merger between Iberia and British Airways; advised Liberty shareholders on acquiring a 57% stake in Prisa for €900m; and advised on Ebro Puleva’s €630m sale of its dairy business to Lactalis Group. It is also advising on the merger of Dutch company Atento Emea with its Spanish subsidiary Atento Teleservicios, a transaction that was among the first cross-border mergers to test new Spanish merger laws. Javier Ybáñez heads the group, which includes the ‘extraordinary’ Ramon Girbau.

Linklaters SL’s ‘top-notch’ practice is an established leader in equity issues, and receives regular instructions from global co-ordinators and underwriters. Recently it has also been acting for corporates including Iberdrola, Abengoa and Telvent. Highlights included advising Permira on acquiring online tourism site eDreams. Alejandro Ortiz heads the practice, while Sebastian Albella, Miles Curley and Jaime Zurita are also recommended.

Uría Menéndez’s team is ‘very highly valued’ by clients. Recent mandates include advising British Airways on its planned merger with Iberia and advising Iberdrola Renewables on a strategic agreement with Gamesa Energía and Gamesa Corporación Tecnológica regarding a merger for the joint promotion and development of wind farms in Spain and across Europe. Practice head Juan Francisco Falcón has ‘knowledge, experience, endurance and tactical skill’.

Allen & Overy has a particularly strong presence in the energy sector, with key deals including advising on several photovoltaic power plant acquisitions; acting for AECOM on its acquisition of INOCSA; and advising Kedge Capital Partners on its planned acquisition of Inaer. Juan Barona is ‘experienced and reactive’, while Inigo Gomez-Jordana is ‘a super lawyer who is always one step ahead of anyone else’.

Pedro Rueda and Francisco Aldavero head Araoz & Rueda’s highly respected practice. It recently advised private equity fund Ibersuizas on its acquisition of Ice Cream Factory Comaker. The team also acted for USP Hospitales on its joint venture with Hospital Arttysur Bahía de Algeciras for the management and ownership of a new hospital to be built in Los Barrios. Other clients include Associated British Foods, Grupo Malakoff Médéric, Votorantim Cimentos and Caser Seguros.

Ashurst LLP has recently been advising Caja Madrid on the Iberia and British Airways merger, and acted for Citi Insfrastructure on its successful bid for Itínere Infraestructuras. Other recent highlights include advising three leading Spanish savings banks on acquiring a significant stake in Itínere Infraestructuras. Group head Jesús Almoguera and María José Menéndez are recommended.

Corporate law is one of the core areas of CMS Albiñana & Suárez de Lezo, and it provides ‘high-performance advice on specialised matters’. It is particularly valued for its advice to large companies, especially those in regulated sectors. Clients include Iberdrola, Acciona, Hertz de España and Citi Group. Recent instructions include advising Telefónica on aquiring control of social networking site Tuenti. Managing partners César Albiñana and Rafael Suárez de Lezo are praised for ‘their personal commitment and contribution’.

Fernando de las Cuevas heads Gómez-Acebo & Pombo Abogados’ sizeable corporate practice, which was involved in one of the most significant private equity deals in Spain recently when it advised AlpInvest on acquiring Fortis’ interest in Fondo Nazca II, F.C.R. It also advised Caixanova on selling a stake in R Cable y Telecomunicaciones to CVC Capital Partners. New clients include Crown Holdings and Nordzucker.

Latham & Watkins LLP ‘specialises in complex and sophisticated transactions’ and ‘has a unique approach to solving problems’. Since entering the Spanish legal market in 2007, this ‘first-class firm’ has established itself as one of the market leaders, particularly within the energy sector. José Luis Blanco and the team advised Gas Natural Fenosa on the acquisition of assets by Morgan Stanley Infrastructure and Galp Energia. Juan Manuel de Remedios oversees the department, while Ignacio Pallarés is ‘one of the most talented lawyers in the market’.

Perez-Llorca’s senior partner Pedro Pérez Llorca specialises in M&A and has been involved in a number of significant cross-border transactions. Recent highlights include advising Can-Pack on acquiring the operational assets and liabilities of Tapón Corona. On the private equity side, the team advised Aqua eSolutions on negotiating a share purchase agreement with 3i.

Baker & McKenzie ‘provides high-quality legal advice’ and has ‘excellent knowledge of business and law’. Recent work includes advising CNOOC on a $3.1bn joint venture with Bridas Energy Holdings. The Madrid office is headed by Francisco Escat, while the ‘thorough and professional’ Jorge Adell oversees the Barcelona team. In June 2010, corporate law expert Manuel Pizarro joined the firm following a stint in politics.

José Sánchez-Dafos leads DLA Piper Spain S L’s corporate and M&A practice, which acts for a mix of Spanish and global companies including Mercapital, CVC and Sun Capital Partners. The team also includes Juan Picón, who became managing partner of the Spanish office in January 2010 and co-heads the global practice. María Segimón, Joaquín Echánove and Miguel Bermúdez de Castro are recommended.

Jones Day acts for a number of industrial clients, advising on restructuring, negotiation and preparation of strategic investments and acquiring assets. Luis Riesgo heads the practice, which also includes Federico Merino.

The company law specialists at Ramón y Cajal, Abogados advise on corporate transactions, structuring and restructuring, financing, and shareholder and investment agreements. The firm represents a number of listed companies and foreign clients.

Roca Junyent’s team has ‘substantial knowledge’ and advises Spanish companies such as Spanair, Telefónica and Gas Naturale, as well as an increasing number of international clients such as JPMorgan and Citigroup. Recent highlights include advising Spanair on IEASA’s acquisition of 80.1% of Spanair’s capital, including the execution of financing agreements.

Bird & Bird (Spain) LLP recently recruited from Araoz & Rueda the ‘extraordinary lawyer’ Lourdes Ayala, who ‘has particular strength in private equity and restructurings’. She replaces former practice head Javier Vasserot who moved to Olswang. The team’s main areas of expertise are mergers and acquisitions, spin-offs and joint ventures, restructuring and general corporate advice.

Broseta Abogados continued to increase its visibility, with recent highlights including advising savings bank Cam on setting up Promociones Rurales de Biogás to develop around 25 industrial plants to generate energy through food waste. Madrid-based Julio Veloso is a ‘brilliant lawyer and adviser’.

At Ecija Abogados, Hugo Écija and Emilio Prieto lead a team that advises clients predominantly from the TMT, renewables and industrial sectors. The firm has also advised the European Commission and the Spanish Government.

Eversheds Lupicinio’s ‘extremely impressive’ practice is headed by José María Viñals who ‘always offers an exceptional service’. The team recently advised Tyco on restructuring and share transactions, and provided corporate secretarial services to Orange.

Fornesa, Prada y Fernández Abogados has a small team led by Tomàs Fornesa, for which recent highlights include advising on the merger between Grupo Comsa and Emte, one of the Catalonia’s larger transactions during the economic crisis.

Since establishing itself in 2009, Herbert Smith LLP’s Spanish practice has made a considerable impression and it advised Grupo Netco on financing for the acquisition of shares in Coca-Cola distributor Refrescos Envasados del Sur. Álvaro Sáinz ‘always adds value to transactions’.

José María Balañá heads the practice at Hogan Lovells International LLP, which has a particular focus on energy, infrastructure and logistics. The team recently acted for Barclays on acquiring a significant stake in a listed Spanish real estate company.

Senior associate Eliecer Pérez Simón leads Rivero & Gustafson Abogados’ practice, for which recent highlights include advising Karen Millen on reorganising its Spanish companies.

SJ Berwin’s practice is headed by Roberto Pomares and includes Isabel Rodríguez, one of ‘the best private equity fund structures lawyers in Spain’, and Carlos Pazos, who is ‘very experienced in commercial and stock market issues’.

Simmons & Simmons LLP advised Casbega on its acquisition of Edari Sistemas Informáticos and regularly acts for Dima Distribucion Integral. Luis Felipe Castresana is the key contact.

Ventura Garcés & López-Ibor, Abogados’ practice includes managing partner Claudi Garcés, who is ‘accurate, precise and timely’. Also recommended is Richard Gené, whose ‘efficiency and creative solutions instil confidence’.