The Legal 500

Within Banking and finance, Linklaters LLP is a first tier firm,

Linklaters LLP has ‘excellent’ capabilities, and remained busy with refinancing and restructuring work. The renowned Pedro Siza Vieira advises lenders on financing projects, acquisitions and real estate. The team – also featuring Francisco Ferraz de Carvalho and associate Gonçalo Veiga de Macedo – is advising banks, including Banco de Desenvolvimento de Angola and Banco Nacional Ultramarino (Macau), on a shopping centre financing in Luanda, Angola. It is representing Abbey National Treasury Services and Banco Bilbao Vizcaya Argentaria, among others, as arrangers and bookrunners of a €300m term loan to EDP. Other clients include African Development Bank, Credit Suisse and RBS.

Within Capital markets, Linklaters LLP is a first tier firm,

Linklaters LLP shows ‘significant expertise’, ‘great experience’, and is ‘remarkably responsive’. Its renowned securities practice finds ‘the best solution for the most complex and arguable cases’, particularly on the manager side. Highlights included advising Deutsche Bank (London and Portugal) on Metropolitano de Lisboa’s €85m state-guaranteed 7.5% notes issue, and also advising several banks as bookrunners and underwriters of BCP’s €260m rights issue. The team also advised Barclays, BNP Paribas and CaixaBI as lead managers of Parpública’s €886m issue of 25% exchangeable bonds, as part of phase five of Galp’s privatisation. The team is advising Espírito Santo Financial Group on updating its €2bn EMTN programme. António Soares is ‘one of the best practitioners in the market’.

Within Corporate and M&A, Linklaters LLP is a first tier firm,

Corporate-focused Linklaters LLP fields a ‘very good’ team, headed by António Soares and Jorge Bleck, which acts for an impressive roster of financial institutions and major corporates. Marcos Sousa Monteiro advised ArcelorMittal on the €3.24bn demerger of its stainless and speciality steels businesses, and also represented Tate & Lyle in the £67m sale of its molasses business to UM & S Holdings. Soares led advice to PortQuay West on the financing of the acquisition of Vertix’s 10% stake in Grupo Media Capital, and Bleck advised BP Portugal on selling its ground fuel business in the Azores to Bensaude Group. Other clients include Geocapital, Santander, and Enagás.

Within Dispute resolution, Linklaters LLP is a second tier firm,

Linklaters LLP has expertise in restructuring and insolvency cases, and provides ‘top-quality service’. Miguel Pinto Cardoso is a ‘perfect disputes lawyer’, having ‘a hardworking attitude’ and ‘strong commitment to clients’ goals’. ECS – Sociedade de Capital de Risco remains a client of the team, which is advising Ferrovial in a €25m compensation claim relating to construction costs. Managing associate Nuno Ferreira Lousa is ‘a very good choice for litigation work’, and associate Marta Afonso Pereira is ‘a shining star in the disputes market’.

Within EU and competition, Linklaters LLP is a first tier firm,

Linklaters LLP combines its ‘highly professional standards’ with the ‘deep knowledge’ of Carlos Pinto Correia, who has ‘great EU and competition skills’. The team advised Johnson & Johnson in proceedings brought by the Portuguese Competition Authority (PCA) relating to an alleged cartel of six pharmaceutical companies, and advised Infineon as a former shareholder of Qimonda Portugal on state aid issues. The team is also advising Secil on its acquisition of Lafarge’s ready-mix cement business in Portugal. Maria Tavares de Pina is also recommended.

Within Employment, Linklaters LLP is a third tier firm,

Linklaters LLP is recommended for its ‘great work’ in handling contentious issues and restructuring. Nuno Ferreira Lousa has an excellent reputation, and associate Marta Afonso Pereira is also recommended, having recently advised Barclays on the implementation of a bonus plan for its employees in Portugal.

Within Energy and environment, Linklaters LLP is a second tier firm,

Linklaters LLP’s ‘extremely helpful and always available’ team provides ‘innovative solutions’, and is particularly notable for renewables and energy financing. The ‘excellent’ Pedro Siza Vieira heads the group, which is also increasingly active in upstream oil and gas interests in Angola and Mozambique. The team advised Banco Itáu and Banco Caixa Geral – Brasil on the R$155m financing of a water treatment plant in Rio de Janeiro. Credit Suisse, Amorim Energia and Iberwind are also clients.

Within Insolvency and restructuring, Linklaters LLP is a first tier firm,

Linklaters LLP draws on the strength of its corporate, finance, tax and litigation teams to provide a complete service to clients in distressed situations, and clients also appreciate its cross-border capabilities. The team was recently involved in the restructuring of plastic packaging manufacturer Logoplaste. It is also advising Imatosgil Group on the acquisition of two companies in insolvency, and continues to serve as counsel to PwC on the Lehman Brothers insolvency. Practice head Pedro Siza Vieira and Miguel Pinto Cardoso are recommended, as is managing associate and litigator Nuno Ferreira Lousa, who has ‘specialist insolvency skills’.

Within Intellectual property, Linklaters LLP is a third tier firm,

Linklaters LLP’s Carlos Pinto Correia leads a team, which is experienced in patents and related litigation, trade mark registrations and enforcement work. Pfizer remains a client, and the team recently advised Mastercard on a licensing agreement with the Portuguese government. Associates Marta Cruz de Almeida and Diogo Plantier Santos are recommended, the latter particularly for his ‘excellent advice and availability’.

Within Project finance, Linklaters LLP is a first tier firm,

Linklaters LLP is ‘one of the best’, and provides an ‘excellent level of service’, coupled with ‘high industry knowledge’. The ‘very good’ Pedro Siza Vieira leads the team, which has experience on projects in Lusophone Africa. Highlights included advising African Development Bank and European Investment Bank on the €60m PPP project for four onshore wind farms in Cape Verde, and also assisting BPI in financing Nova Cimangola’s expansion and modernisation programme. The team is also advising a syndicate of banks on the financing of a shopping centre in Luanda, Angola. The ‘very well prepared’ Francisco Ferraz de Carvalho ‘focuses on the essential matters to optimise the final result’. Managing associates Rita Ferreira dos Santos, Marta Almeida Afonso and Gonçalo Veiga de Macedo are also recommended.

Within Public law, tier 4

Linklaters LLP handles public procurement, litigation and regulation, and has a wealth of projects, energy and infrastructure experience. The outstandingly knowledgeable Pedro Siza Vieira has ‘commercial practicality’, and is ‘one of the most competent legal professionals in Portugal’. His clients include Companhia Portuguesa de Hipermercados and Auto-Estrada do Marão.

Within Real estate, Linklaters LLP is a second tier firm,

Linklaters LLP has ‘profound knowledge of the market’ and is ‘always able to deliver work on time’. The group advises on M&A, investment and financing, and has notable cross-border experience. Jorge Gonçalves is ‘a calm and resilient negotiator’, and ‘one of the top real estate lawyers in Portugal’. Gonçalves advised a syndicate of banks regarding the financing of a shopping centre in Luanda, Angola, and also advised ECS – Sociedade de Capital de Risco on a distressed sale. The group is advising CostaTerra on its €535m resort development on the Alentejo coast. Associate Tânia de Almeida Ferreira joined Cuatrecasas, Gonçalves Pereira in 2011.

Within Tax, Linklaters LLP is a first tier firm,

Linklaters LLP’s ‘highly sensible, commercial and responsive’ group advises corporate clients on tax issues as a support for the corporate practice. Managing associate Rui Camacho Palma heads the team, which advised a syndicate of banks – including Banco Desenvolvimento de Angola and CaixaBI – on the €100m financing of a shopping centre in Luanda. The group also assisted Tate & Lyle with tax planning relating to the sale of its EU sugar business to American Sugar Refining, and also advised Ageas on tax structuring for an employee incentive plan. Associate Ricardo Reigada Pereira is a ‘shining star’ with ‘incredibly deep technical knowledge’.