The Legal 500

Within Capital markets, Uría Menéndez is a second tier firm,

The capital markets team at Uría Menéndez attracts outstanding praise from clients who say, ‘Although there are very good law firms in Portugal, on a price/service rendered analysis, this firm rank number one’. This burgeoning team recently acted for Grupo Prisa on its €419m bid for the entire share capital of Grupo Média Capital. On the seller side, the team acted for Iberdrola on its sale of a qualified shareholding in GALP Energia. Carlos Costa Andrade and Francisco Sá Carneiro are said to ‘inspire confidence, convey reasonable working scenarios and carry out tasks from beginning to end’. Additionally, Andrade‘knows very well the operative structure of his clients’. Senior associate Ana Sá Couto impresses with her ‘professionalism and persistence’.

Within Corporate and M&A, Uría Menéndez is a second tier firm,

Uría Menéndez ranks ‘truly above the already very high initial expectations’ of its clients. Recent highlights include advising Jerónimo Martins on the €320m acquisition of Tengelmann Plus operations in both Portugal and Poland, a matter spanning three different jurisdictions. The team was also instructed by Unidad Editorial to advise on the sale of Económica to OnGoing Strategy. Additional highlights comprise advising the shareholders of SIL Group on the sale of part of its share capital to Deutsche Bank Real Estate, as well as advising Magnum Industrial Capital Partners, a large Iberian based fund, on the acquisition of a stake in an equipment rental group. Valued for its ‘proactivity, realistic negotiation position and pragmatic approach’, the team is led by Francisco Sá Carneiro, noted for his ‘deep understanding of Portuguese corporate law, accute common sense and constant availability’. Duarte Vasconcelos, João Anacoreta and Francisco Brito e Abreu are likewise recommended for their corporate/M&A expertise.

Within Dispute resolution, Uría Menéndez is a second tier firm,

Uría Menéndez houses a formidable dispute resolution department composed of 13 fee-earners, led by the ‘very impressive’ Tito Arantes Fontes. The team is representing a Spanish banking client in two matters relating to its €25m loan for the acquisition of a hotel in Madeira, wherein the real estate company responsible for the construction of the hotel claimed €22m from the seller for unpaid works. The litigation department covers civil, criminal and commercial matters, and has experience in arbitration proceedings.

Within EU and competition, Uría Menéndez is a second tier firm,

Considered to have ‘the highest standards in Portugal’, Uría Menéndez continues to act in some of the country’s most high-profile competition cases. The team advised leading complainants Cabovisão through a long-running antitrust investigation against PT Comunicações. This landmark case saw the highest ever fine of €38m issued by the Portuguese Competition Authority for the abuse of a dominant position. The team was also instructed by Jerónimo Martins Group in a merger control case before the PCA, concerning the acquisition of supermarket chain Plus Discount Portugal. Clients choose the team for its ‘reliability and availability’ and ‘highly skilled negotiation techniques’.

Within Employment, Uría Menéndez is a second tier firm,

Uría Menéndez has a newly appointed department head in Filipe Fraústo da Silva, noted for his ‘availability, knowledge and trustworthiness’, who joined with his team from employment boutique Fraústo da Silva & Associados. Clients span a range of sectors, including aviation, insurance and corporate. Feedback indicates that the team provides ‘quick answers to all requests’ and displays ‘excellent business knowledge’.

Within Legal market,

Spanish firms Uría Menéndez, GARRIGUES and Cuatrecasas, Gonçalves Pereira continue to solidify their Portuguese presence, each representing a host of high-calibre Portuguese clients. The global re-branding of Cuatrecasas, Gonçalves Pereira is indicative of the firm’s commitment to full integration between its Portuguese and Spanish offices. It would appear that many Spanish firms are keeping one eye firmly set on the Portuguese market, with Gomez-Acebo & Pombo Abogados rumoured to be its newest entrant.

Within Oporto: Leading commercial firms, Uría Menéndez is a second tier firm,

Headed by João Anacoreta Correira, the Oporto office of Uría Menéndez fields 15 fee-earners. Main areas of focus include corporate and M&A, real estate, employment, tax and litigation, with shipping matters taking increasing prevalence. The Oporto office is also carving a reputation in the health sector, having advised Unilabs for many years. The team recently acted for Euronete in the purchase of the remaining 40% share capital of Quintas & Quintas Offshore Sistemas de Amarração, after having advised on the purchase of a 60% stake the year previously. Described as a ‘nice group of professionals’, the team is quickly becoming one of Oporto’s strongest.

Within Project finance, Uría Menéndez is a first tier firm,

Possesing an exemplary project finance group, Uría Menéndez receives plaudits from clients who say, ‘they’re simply the best’. Pedro Ferreira Malaquias and Duarte Brito de Goes co-head a department that, this year, advised the lenders – Caixa Banco de Investimento, The Royal Bank of Scotland, Millennium BCP, Banco Santander Totta and the European Investment Bank – on the financing of the Douro Litoral Highway. The team impressed with its advice to Energy Banco Santander Totta, Caixa Banco de Investimento and BBVA on the €208m financing of Europe’s largest solar plant, located in Moura. In addition, the team advised BES Investimento, Caixa Geral de Depósitos and the European Investment Bank on the €155m financing of the Estarreja plant. Renewables is a major area of focus, and this year the team advised Millennium BCP on the €60m financing of four windfarms in France.

Within Public law, Uría Menéndez is a second tier firm,

Following the departure of Claudio Monteiro, Uría Menéndez has renewed its focus on pure public law with the arrival of the ‘very clever’ Bernardo Ayala and his team from Sérvulo & Associados. Ayala now leads a department fielding 10 additional fee-earners. Recent work includes advising the consortium led by Cintra on its tender bid for Portugal’s high-speed rail project. The team has also acted in a PPP matter, advising private bidders Ferrovial/Grupo Português de Saúde on the tendering procedure for the Hospital de Vila Franca de Xira. Ayala also led the team in assisting BPI – Banco Português de Investimento concerning tenders on two highway concessions, Auto-Estrada Transmontana and Auto-Estrada do Douro Interior. Clients regard this new team as ‘a great boost’ to the firm’s presence in the public law arena.

Within Real estate, Uría Menéndez is a first tier firm,

At Uría Menéndez, Duarte Garin heads the 13 fee-earner real estate department, ably supported by partner Antonio Villacampa and senior associate João Torroaes Valente. The team recently assisted the Bank of Portugal Pension Fund, legally managed and represented by Sociedade Gestora do Fundos de Pensões do Banco de Portugal, with the international bid and sale of a €50m real estate portfolio of buildings in Lisbon city centre and Oeira. The team also advised Hypo Real Estate Bank – Sucursal en España on the refinancing of the Penha Longa Tourism Complex, involving a loan facility valued at €46.9m.

Within TMT, Uría Menéndez is a second tier firm,

Uría Menéndez acted for MIPS Technologies in its $149m acquisition of ChipIdea Microelectrica, a leading semi-conductor design company. In the media sector, the team advised on the $47m sale of Media Capital Outdoors, as well as advising Unidad Editorial on the sale of Económica to OnGoing Strategy. Duarte Vasconcelos and Francisco Brito e Abreu are regarded as leading individuals.

Within Tax, Uría Menéndez is a third tier firm,

The tax practice at Uría Menéndez comprises four main focus areas: corporate tax, real estate (including VAT and transfer issues), finance (including refinancing, banking, capital markets, and the creation and design of new financial products), and tax litigation, a growing area of importance for the firm. Filipe Romão leads a team with an ‘outstanding’ reputation and ‘impressive technical knowledge’. The team advised Jerónimo Martins on the tax aspects of the acquisition of Plus Operations in Portugal and Poland, a transaction involving three jurisdictions and extensive collaboration with foreign firms. Grupo Pestana instructed the team to advise on the implementation of an international operating structure for the development of a Venezuelan hotel. Miguel Durham Agrellos leads a small team from Oporto.