The Legal 500

Within Banking and finance, Freshfields Bruckhaus Deringer LLP is a first tier firm,

Freshfields Bruckhaus Deringer remains active in real estate restructuring, including advising Metrovacesa on the debt restructuring of a Spanish real estate company following the debt-to-equity swap granted in 2009 by the former controlling shareholders. It was also involved in leveraged buyout (LBO) transactions, including advising the senior lenders on the restructuring of the €667m senior acquisition financing granted to Apax Partners to buy Spanish bakery group Panrico. General banking mandates in 2011 included acting for CVC Capital and ACS on the €1.5bn financing for the acquisition of a 25.83% shareholding stake in Abertis. Iñaki Gabilondo heads the team.

Within Capital markets, Freshfields Bruckhaus Deringer LLP is a first tier firm,

Freshfields Bruckhaus Deringer’s recent highlights include advising Qatar Holdings on its subscription to a €2bn capital increase in Iberdrola, and advising Metrovacesa on a proposed €1.95m capital increase through cash contributions and debt capitalisation as part of its debt restructuring. On the debt side, it advised CajAstur on the fifth issuance of €850m state-guaranteed bonds. Armando Albarrán leads the practice.

Within Corporate and M&A, Freshfields Bruckhaus Deringer LLP is a first tier firm,

Armando Albarrán heads the team at Freshfields Bruckhaus Deringer, which acted for Qatar Holding on the €2.1bn acquisition of a 6.16% stake in Iberdrola, and advised Goldman Sachs as financial adviser on La Caixa’s proposed banking business reorganisation, involving a spin-off of assets to Microbank. The team also advised Amadeus IT Holding on its €450m agreement to sell 100% share capital in its subsidiary Opodo to AXA Private Equity and Permira.

Within Dispute resolution , Freshfields Bruckhaus Deringer LLP is a second tier firm,

Freshfields Bruckhaus Deringer recently represented JT International in product liability claims filed by smokers. Other instructions included acting for Cargill and its insurer, Chartis, in a claim against two suppliers of allegedly contaminated girasol oil. In arbitration, it advised Newco Airport Services on a Civil and Mercatile Court of Arbitration (CIMA) against Spanair. Vicente Sierra heads the practice.

Within EU and competition, Freshfields Bruckhaus Deringer LLP is a second tier firm,

At Martínez Lage, Allendesalazar & Brokelmann (MLAB), the ‘overall level of service is really high’ and there is ‘absolute availability when needed’. Clients include Brambles, which it advised on notification of its acquisition of IFCO. It is advising Pavasal in an ongoing cartel investigation by the CNC in the public works sector. Practice head Santiago Martínez Lage and Helmut Brokelmann are ‘very capable lawyers – their strengths are knowledge and empathy’, and Rafael Allendesalazar is also recommended.

Within Employment, tier 4

Freshfields Bruckhaus Deringer was recently appointed to the panel of Bristol-Myers Squibb, and is advising Sara Lee on the €1.275bn sale of its global body care and European detergents businesses. Raquel Flórez heads the practice.

Within Environment, Freshfields Bruckhaus Deringer LLP is a second tier firm,

Freshfields Bruckhaus Deringer advises clients such as CVC Capital and ACS on Spanish and English law. Managing partner Iñaki Gabilondo heads the team, which also includes Ana López.

Within Insurance Other recommended firms

Within Intellectual property, Freshfields Bruckhaus Deringer LLP is a third tier firm,

Freshfields Bruckhaus Deringer is particularly active in IP litigation, representing key clients such as Johnson & Johnston and Sony. It also advised Amadeus on disposing of its online travel service Opodo, and acted for Visa Europe in a high-profile data protection case. Sergio Miralles is the key contact.

Within Legal market overview,

A number of UK firms enjoy prominent positions: namely Clifford Chance, Freshfields Bruckhaus Deringer and Linklaters. Olswang was among new entrants to the market in 2011.

Within Projects and energy, tier 4

Freshfields Bruckhaus Deringer’s key clients include E.ON, which it advised on general regulatory matters and on sanctions proceedings before the CNC in an abuse of dominant position case. Álvaro Iza is the key contact.

Within Real estate, Freshfields Bruckhaus Deringer LLP is a first tier firm,

Freshfields Bruckhaus Deringer has ‘an excellent and experienced real estate team’, and its ‘lawyers are always available’. The group advised Cerberus European Investments on acquiring a €350m property portfolio of non-performing loans (NPLs) from Banco Santander. Restructuring remains a busy area: the team recently advised on real estate aspects of the €6bn debt restructuring of Metrovacesa. It also advised Orenol, operator of Marriott Mallorca Golf & Spa Hotel, on renegotiating its management agreement with Marriott. Practice head Juan Gómez-Acebo has ‘perfect technical and customer service skills’.

Within Restructuring and insolvency, Freshfields Bruckhaus Deringer LLP is a second tier firm,

Freshfields Bruckhaus Deringer has considerable experience in real estate restructuring, and advised Metrovacesa on the Spanish and English law implications of the €6bn debt restructuring of a Spanish real estate company; and acted for Reyal Urbis on the restructuring of a large Spanish developer. The team was also active in bank restructurings, advising CajAstur on its acquisition of Caja Castilla-La Mancha. Insolvency work included advising Amadeus on Viajes Marsans’ insolvency. Iñaki Gabilondo and Vicente Sierra head the group.

Within TMT, Freshfields Bruckhaus Deringer LLP is a third tier firm,

Freshfields Bruckhaus Deringer’s clients include BT, Hewlett-Packard, Sony, Amadeus and Mediapro. Francisco Cantos and Antoni Valverde are the main contacts.

Within Tax, Freshfields Bruckhaus Deringer LLP is a second tier firm,

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.

Within Transport, Freshfields Bruckhaus Deringer LLP is a third tier firm,

Freshfields Bruckhaus Deringer’s Iñaki Gabilondo and Miguel Klingenberg are ship finance experts.