The Legal 500

Cuatrecasas, Gonçalves Pereira has one of the largest and best-known tax teams in Spain. The scope of its service includes tax planning and litigation, as well as transactional tax issues. It advised Vueling on tax-efficient expansion, Endesa on selling gas assets to Goldman Sachs Infrastructures, and Banco Popular on a joint venture with Allianz to merge Eurovida, Europensiones and Popular Gestión into a holding company. Alejandro Escoda heads the practice.

The huge tax department at Garrigues ‘has up-to-date high technical knowledge on very difficult items’, and is ‘flexible, quick and practical’. It also has ‘an excellent relationship with the tax office’. It advised Allianz regarding a joint venture agreement with Banco Popular, and Liberty on taking a majority stake in PRISA. It assisted BBVA on a €5bn debt and share issuance to the US financial market. Ernesto Jiménez heads the group, and Ángel Calleja ‘really takes care of the client and makes sure that a comprehensive approach is taken’.

Uría Menéndez has ‘a big reputation and more than exceeds all expectations’. It advised La Caixa on tax planning concerning the reorganisation of its group by transferring its banking business to Criteria CaixaCorp, and acted for Banco Santander on Qatar Holding’s investment in its Brazil-based subsidiary. Practice head Rafael Fuster is recommended along with Víctor Viana, who ‘sees the bigger picture’ and is ‘an enviable operator to have on your side’.

Baker & McKenzie acted for Torreal on its acquisition of Saba, and Dresser-Rand on its acquisition of Guascor. Madrid practice head Rodrigo Ogea is ‘a very technical lawyer with a very practical approach to tax problems’. Pedro Aguarón is the key contact in Barcelona. Clients also recommend Luis Briones and María Antonia Azpeitia in Madrid for their ‘tailor-made solutions and swift responses’.

Miguel Klingenberg heads Freshfields Bruckhaus Deringer’s tax group, which is particularly active in business optimisation, such as Metrovacesa’s €6bn debt restructuring. It acts for a number of private equity clients such as Advent international, which it advised on tax structuring the €100m acquisition of a 94.5% stake in Tinsa. Other highlights included advising Qatar Holding on the tax aspects of its €2.1bn investment and strategic partnership with Iberdrola.

Allen & Overy displayed its cross-border tax planning capabilities when it advised Nisshin OilliO Group of Japan on the €26m acquisition of Industrial Química Lasem (IQL) from Mercapital. The team advised Banco Santander on the Spanish tax aspects of the issuance of collateralised loan obligations. Carlos Albiñana heads the department.

Ashurst LLP’s strengths include ‘risk assesment’ and a good ‘external network’. It recently assisted Deutsche Bank in designing a structure to invest in non-performing loan (NPL) and real estate property portfolios. Other clients include Caja Madrid, Cerberus and Thompson Reuters. Practice head Eduardo Gracia has ‘good technical knowledge.’

CMS Albiñana & Suárez de Lezo’s practice is headed by renowned tax litigator Felipe Alonso in Madrid, and also includes Javier Lorite in Seville. The firm recently advised an Ibex 35 listed company in a €137m tax payment claim.

Clifford Chance’s key tax contacts are Jose Ignacio Jiménez-Blanco and newly promoted partner Pablo Serrano de Haro. The team ‘provides quick solutions’, and counts Banco Santander and Carrefour among its clients. Recent highlights include advising McGraw Hill on tax restructuring and ACS on tax matters relating to the disinvestment of its renewable energy group.

Gómez-Acebo & Pombo Abogados’ ‘overall level of service is excellent due to its deep knowledge of the business and tax regulations in Spain and the EU’. Highlights included advising Allianz on Spanish tax implications of its €145m acquisition of 60% of the Spanish companies Europensiones, Eurovida and Popular Gestión. Practice head Heribert Padrol and Enrique Ortega are ‘very accessible, and have strong knowledge and experience’.

Linklaters’ relatively small tax department is ‘excellent in all fields: knowledge, fees and punctual responses’. Recent instructions include advising Endesa on selling an 80% stake in its gas distribution and transmission business to Goldman Sachs. Practice head Javier García-Pita is ‘impressive’, and provides ‘creative, complete and punctual solutions’.

At Araoz & Rueda, ‘the level of service is excellent’ and ‘responses are clear and accurate’. It advised Temporis Capital on investments and divestments in cleantech energy projects, and prepared tax structures for RHJ International to invest in Spain. Grupo Tecnipublicaciones is a regular client. New practice head Javier Prieto joined from Ramón y Cajal Abogados in 2011, replacing Alvaro de la Via, who joined Olswang.

DLA Piper’s primary tax contact is Carlos Rodríguez Barrigüete – clients value his ‘practical recommendations to facilitate decision making, instead of extended legal references’. In 2011 , the team advised CVC Capital Partners on tax planning for the acquisition of 70% of R Cable Y Telecomunicaciones Galicia.

Hogan Lovells International LLP’s Miguel Ángel Sánchez specialises in tax structures for acquisitions and financing, and is highly rated. Key client Boluda Corporación Marítima instructs the firm on a range of tax matters including international tax structuring.

Latham & Watkins LLP recently advised Abengoa on tax issues relating to Abengoa France’s Rule 144A offering of $650m senior notes. Broadcom called on the firm for tax advice on the acquisition of Gigle Networks. Jordi Domínguez heads the team.

Perez-Llorca advised Contax in a controlled auction process aimed at acquiring a leading Latin American group of business process outsourcing solutions, and advised a pool of banks led by Banesto on restructuring part of Espais Group’s debt. Javier Fernández Cuenca and Clara Jiménez are the key contacts.

Alberto Ruano heads the group at SJ Berwin, which regularly advises equity funds on tax planning, and is particularly active in the energy, infrastructure and real estate sectors. It is also adept in tax planning for M&A.

José María Cusí is the main contact at Bird & Bird. His experience includes international tax, transfer pricing, private equity and venture capital.

Broseta Abogados is ‘a reliable and recommendable firm’, for which tax is a key practice area. It is popular for its ‘customer orientation’ and the partners’ ‘proactive involvement at all stages’. Practice head Luis Trigo is recommended, and Javier Morera is ‘very skilful’. Crio Cord and Balearia are key clients.

‘Premium law firm’ Herbert Smith LLP has a strong tax team, which includes the ‘brilliant’ Nicolás Martín, who ‘seems to love facing challenges and resolving them’, and senior associate Marta Esteban, who is ‘excellent in financial transactions’. Clients include Chevron and Capio.

RCD Asesores legales y tributarios SLP advises on matters such as tax planning, international taxation, and handles litigation, both in Spain and abroad. José María Duran heads the practice.

Roca Junyent’s ‘whole team is excellent’. Jordi Guarch heads the group, and Blanca Usón and Isidro del Saz are also particularly recommended. The group advised Spanair on a stock option plan.

Jordi Vilalta is the key contact at Ventura Garcés & López-Ibor, Abogados. The team provides specialist tax advice to clients such as MGA-New Park and Acofarma, and is frequently involved in tax structuring M&A transactions.