Clifford Chance > Madrid, Spain > Firm Profile
Clifford Chance Offices
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PASEO DE LA CASTELLANA 110
28046 MADRID
Spain
Clifford Chance > The Legal 500 Rankings
Spain > Banking and finance Tier 1
Clifford Chance fields a highly specialised global financial markets practice, comprised of ‘lawyers with extensive experience, expertise and international perspective’. A ‘go-to for financing transactions in Spain‘, the team is adept at handling innovative and high-value banking and finance matters, ranging from syndicated lending to asset finance, project and real estate financings, debt restructurings and refinancing mandates, on behalf of lenders and borrowers. Commercial and investment banks, corporates, sponsors and funds regularly turn to the team for assistance with sophisticated, cross-border matters, benefitting from the firm’s UK and US law capabilities. Practice head Eduardo García handles a spread of transactional matters for banks, multilaterals, investment funds and corporates, but particularly stands out for his in-depth knowledge of fintech. With extensive experience in multijurisdictional matters, especially financings involving Latin America, José Guardo frequently advises on project finance, asset deals and export and trade finance. Structured finance and restructurings are core areas of activity for Epifanio Pérez, while Rodrigo Uría – singled out for his ‘outstanding technical capabilities accompanied by a good dose of pragmatism and emotional intelligence‘ – focuses on both transactional and regulatory matters in the financial services sector. Eugenio Fernández-Rico is a key contact for asset finance deals in the aviation industry and project finance in Spain and Latin America. Felipe Font and María Sabau, who were recently promoted to partner, are other noteworthy practitioners in the banking and finance area.Practice head(s):
Eduardo García
Other key lawyers:
José Guardo; Epifanio Pérez; Rodrigo Uría; Eugenio Fernández-Rico; José Manuel Cuenca; Felipe Font; María Sabau
Testimonials
‘Rodrigo Uría is a dedicated lawyer with outstanding technical capabilities accompanied by a good dose of pragmatism and emotional intelligence, which makes him one of the most complete lawyers in his practice in Spain. Rodrigo constantly supports his team in solving problems.’
‘Team of lawyers with extensive experience, expertise and international perspective.’
‘They are the go-to for financing transactions in Spain. Especially impressed with their project finance and infrastructure financing capabilities. Commercially focused legal advice, driving the deal to get it done – we go to them with our most complicated deals and they get them done for us.
‘José Guardo – dual (UK and Spain) qualified – is the only lawyer one needs for complicated infrastructure and project financings in the Spanish market. He is exceptional.’
‘The team is very connected to each other. From the partner to the junior lawyer, they are familiar entire transactional process.’
‘Qualities that make them stand out: high technical capacity and experience; ability to make the deal come to fruition making the client’s interests a priority; commitment to the client and the transactions. I would highlight Felipe Font.’
‘Availability, experience, technical knowledge.’
‘The banking team has great knowledge of the subject, a lot of availability and a very remarkable client service.’
Key clients
European Super League
CaixaBank
Natixis
Banco Santander
Morgan Stanley
Credit Agricole Corporate and Investment Bank
EQT
Pemberton Asset Management
Codere
Brookfield
Värde Partners
Work highlights
- Advised CaixaBank as agent and a syndicate of Spanish and international financial institutions as lenders on the five-year extension to Cepsa’s €2bn multi-currency revolving credit facility, and the amendment of the financing to link it to key environmental and social indicators.
- Acted for the global coordinators, arrangers, bookrunners and lenders on the senior secured financing for an amount of €1.7bn granted to the developer and manufacturer of metal automotive components Gestamp Automoción.
- Advised Cellnex on a capital increase of €1.352bn, which was fully subscribed by CK Hutchison and entailed the circulation of more than 27 million new Cellnex shares to be traded on the continuous market.
Spain > Capital markets: Debt Tier 1
Clifford Chance is home to ‘a top-level debt capital markets team in Spain‘, which excels in the entire spectrum of DCM matters, including secured and unsecured standalone bond issuances, hybrid securities, convertible and exchangeable bonds as well as EMTN and ECP programmes. With in-depth expertise in structured finance products and foreign securitisation vehicles, the practice is a popular choice for domestic originators, securitisation managing companies, investment managers and international arrangers engaged in complex, and oftentimes novel, securitisations. Eduardo García, who heads up the global financial markets practice, and José Manuel Cuenca are notably experienced in structured debt and securitisations. Antonio Henríquez often handles ECM and DCM matters, notably hybrid capital and convertible bond issues, while Jesús Quesada is noted for his expertise in structured finance and securitisations. Other noteworthy individuals include counsel Leonardo Fernández, ‘a trusted adviser‘ for structured finance deals, and senior associate Francisco Pizarro. Yolanda Azanza is no longer at the firm.Practice head(s):
Eduardo García
Other key lawyers:
José Manuel Cuenca; Antonio Henriquez; Jesús Quesada; Leonardo Fernández; Francisco Pizarro
Testimonials
‘Quick response to unforeseen events, total availability, and human quality. Antonio Henriquez and Francisco Pizarro are recommended.’
‘The team is very knowledgeable and up to date with recent market developments. Their approach is client-based and they are able to adapt to specific needs of their clients. ’
‘Leonardo Fernández is an exceptional lawyer and a trusted adviser through all stages of the transaction. His communication with other transaction participants is exceptional. He understands the importance of getting the deal done.’
‘Clifford Chance has a top-level debt capital markets team in Spain. Their advice is always timely and high quality.’
‘We value the depth of knowledge that the team has with respect to the market. They are able and willing to offer views on what is a market approach and where there is no consensus around a market approach. The team also has very good working relationships with the other law firms in the area which is helpful when issues arise that need to be talked through. ’
‘José Manuel Cuenca and Leonardo Fernández provide a lot of peace of mind in transactions, not only because of their great experience but because of their high level of professionalism.’
‘The Global Financial Markets team at Clifford Chance Madrid stands out as it offers a specialised service that adapts to the interests of its clients. They know what their clients need and want, and use cutting-edge technological tools that help them provide the best advice.’
‘Jesús Quesada is an excellent professional, he provides agile and brilliant answers to the most complicated technical questions. Having him as an adviser is always a guarantee of success. Likewise, he is well valued and respected by his professional colleagues.’
Key clients
Banco Santander
Banco Bilbao Vizcaya Argentaria
Caixabank
Citigroup
Credit Agricole CIB
HSCBC
Morgan Stanley
J.P. Morgan
Deutsche Bank
European Investment Bank
MedVida
Redeia
Enagás
ACS Group
Corporación Andina de Fomento
Kingdom of Spain
Blackstone
Nomura
Kroll Bond Rating Agency
Work highlights
- Advised the Managers on English and Spanish law in connection with the issue by Redeia (Red Eléctrica Corporación, S.A.) of €500m 5.5 Year Non-Call Undated Deeply Subsordinated Reset Rate Securities.
- Advised Banco Santander on the incorporation of the synthetic Spanish €3bn securitisation fund “Fondo de Titulización Magdalena 6” and issuing Portfolio Credit Linked Notes for €223.5m.
- Advised J.P. Morgan as a hedge counterparty in connection with FC Barcelona’s €1.45bn financing relating to the redevelopment of the Espai Barca (and related financing transactions), structured by means of the incorporation of a Spanish private securitisation fund.
Spain > Commercial, corporate and M&A Tier 1
One of the preeminent law firms in Spain for transformative M&A, Clifford Chance routinely handles a significant volume of large-cap deals in a variety of industries on behalf of major multinational and domestic public corporations, privately-held companies, and financial investors. With a strong presence in the country’s two transactional centres, the M&A practice has been particularly active in the energy, infrastructure, TMT, insurance, financial services and sports sectors as of late. Lauded by clients for his ‘strong negotiation skills and strategic advice‘, department leader Luis Alonso is a reference for energy and sports-related deals. The latter is a key area of activity for counsel Pablo Murcia. Managing partner Jaime VelázquezPractice head(s):
Luis Alonso
Other key lawyers:
Jaime Velázquez; Javier Amantegui; Samir Azzouzi; Guillermo Guardia; Pablo Murcia; Javier Hermosilla; Javier Olabarri; Miguel Barredo; Samuel Rosas
Testimonials
‘Clifford Chance is my law firm of reference as in my opinion, they have the best corporate team in the Spanish market. I would highlight that they integrate very well with our internal teams, they understand and know our business well and provide commercially oriented and practical advice.’
‘Luis Alonso’s very strong negotiation skills and strategic advice set him apart. He makes a very good team with counsels Pablo Murcia and Javier Hermosilla who are also excellent M&A lawyers.’
‘Luis Alonso has the unique ability to negotiate and protect the interests of his clients. ’
‘Strengths: technical knowledge, availability, innovative solutions, negotiating and strategic capacity, language proficiency, firm with an extensive network of offices in different countries.’
‘Guillermo Guardia: technical knowledge, innovative solutions, and strategic negotiation skills.’
‘Samuel Rosas: a technically impeccable professional with great communication skills, who makes it very easy to understand the operations and legal risks for the company’s interlocutors and the people who make the decisions. Always establishes clear recommendations taking into account the client’s business reality. Jaime Velázquez: great negotiation skills. Technically outstanding, very quick in analysis and decision making.’
‘It is a complete and multidisciplinary team that goes hand in hand with the client, not only providing solutions but also anticipating the problems that arise. Diligent. Continuous and proactive collaboration. They facilitate the understanding of problems and provide imaginative solutions.’
‘Pablo Murcia – Exceptional commitment to the projects, always focusing on the client’s needs. Our go-to guy who takes care of everything in the best possible way from a lawyer, manager and entrepreneur perspective.’
Key clients
ACS
Cellnex
Telefónica
Iberdrola
Real Madrid C.F.
Airbus
Banco Santander
F.C. Barcelona
European Super League Company
Galp
Cinven
Sixth Street
Värde Partners
Norges Bank
Ardian
Carrefour
China Three Gorges
Blackstone
A22 Sports Management
Key Capital Partners
Arjun Infrastructure Partners
Esdec Solar Group
Generali
Grenergy
RES (Renewable Energy Systems)
Work highlights
- Advised Norges Bank, through its investment branch Norges Bank Investment Management, on its acquisition of a 49% interest in a 1.3 GW portfolio of solar plants and onshore wind farms in Spain from Iberdrola.
- Advised Generali on the acquisition of Liberty Seguros from Liberty Mutual for €2.3bn.
- Continues to act for European Super League Company and A22 Sports Management in all aspects related to the ongoing formation of The Super League.
Spain > Dispute resolution Tier 1
Distinguished for representing some of the world’s leading brands, Clifford Chance‘s litigation and arbitration department frequently acts for major international corporations, high-net-worth individuals, investment funds, and venture capital firms. The team is well equipped to advise on commercial litigation, restructuring and insolvency, international arbitration, as well as regulatory and investigations matters. Arbitration proceedings are a particular strength for the team that regularly cooperates with other offices as part of the international arbitration group. Madrid-based veteran lawyer Fernando Irurzun heads up the department and boasts considerable experience representing clients in high-profile cases before courts at all instances. Ignacio Díaz De La Cruz specialises in investment and contractual disputes and also leads the LATAM practice in Spain, frequently coordinating with the firm’s Washington office. Miquel Montañá and Josep Montefusco are also notable; both lawyers are based in Barcelona and lead the team that focuses on IP disputes. Fernando Giménez-Alvear is a reference for insurance-related contentious issues.Practice head(s):
Fernando Irurzun
Other key lawyers:
Iñigo Villoria; Ignacio Díaz de la Cruz; Miquel Montañá; Josep Montefusco; Alexandra Borrallo; Fernando Giménez-Alvear; Adrián Crespo; Eduardo Hernández; Borja Pérez Puente
Testimonials
‘It is a very balanced team in which all lawyers stand out for their high qualifications, their empathy when it comes to understanding clients’ problems and the businesses in which they operate, as well as their commitment to the issues and their good work.’
‘The partner, Fernando Irurzun, and one of the associates, Borja Pérez Puente, stand out especially.’
‘The team led by Fernando Irurtzun carries out a thorough study of all matters and has the great ability to adapt the approach to the type of court before which they must act. They have a great ability to discourage the client from suing in those cases where it would be wrong for the client to sue.’
‘In the field of national and international arbitration, the Clifford Chance team (under the direction of Fernando Irurzun) is one of the best we have worked with, their experience and work capacity are exceptional, and their treatment of the client is exactly the same. It is appreciated the simplicity with which they explain the problems that litigation can raise and also the solutions they propose, they give a lot of security.’
‘The closeness, the technical preparation and the effectiveness in the processing of matters. As a notable partner I have to point out Fernando Irurzun, and associates Eduardo Hernández and Borja Pérez-Puente.’
‘The Clifford Chance team prepared impeccably for the hearings. They spent considerable time preparing the witnesses, making them aware of the particularities of each process, and intervening in a timely manner whenever required.’
‘Very prepared lawyers, knowledgeable about the case, its strengths and weaknesses. Ignacio Díaz de la Cruz did an impeccable job in that regard.’
Key clients
A22 Sports Management, S.L.
Aalberts Ibérica, S.A.U.
Airbus Group (Airbus S.E.; Airbus Defence and Space, S.A.U.; Airbus Helicopters, S.A.S.)
Aleática
Ariana Management Corporation S.A.C
Athletic Club
Banesco Holding Latinoamérica, S.A.
BDO Auditores, S.L.
Comap, S.A.
Construcciones y Auxiliar de Ferrocarriles, S.A.
Constructora Queiroz Galvão S.A.
Crea Madrid Nuevo Norte, S.A.
Ernst & Young España
European Super League Company, S.L.
Fútbol Club Barcelona
Grenergy Renovables, S.A.
Guadalmesí Paradise, S.L.
HSBC Bank plc
Ilustre Colegio de Abogados de Madrid (Madrid Bar Association)
Indra Sistemas, S.A.
Instalaciones Inabensa, S.A. (Abengoa Group)
L’Oréal España, S.A.U.
Moncobra, S.A.
Mutua Madrileña Automovilista, Sociedad de Seguros
Nokia Spain, S.A.
Patentes Talgo, S.L.
Real Madrid Club de Fútbol
Rimond Middle East General Contracting, LLC
S.A. de Obras y Servicios, Copasa
Samsung Electronics Iberia, S.A.U.
SEEIT GAS, S.L.U.
Siemens Rail Automation S.A.U.
Sociedad de Explotación Turística Pierre et Vacances España, S.L.U.
Steag GmbH
Torre Caleido, S.A.
Unibail Rodamco Westfield
Vestas Eólicas, S.A.U.
Vingroup (Vingroup Joint Stock Company; Vintech Technology Development Joint Stock Company; Vinsmart Research and Manufacture Joint Stock Company)
Vodafone España, S.A.U.
Vodafone ONO, S.A.U.
Work highlights
- Advising the European Super League on legal proceedings against UEFA and FIFA requesting a declaration that they are abusing their dominant position in the European football market, preventing free competition and imposing unjustified restrictions on access to the market.
- Advising and representing ALEATICA in a civil litigation against OHL to claim the payment of a debt arising from a price adjustment clause under a credit assignment agreement signed between the parties when ALEATICA was part of the OHL Group.
- Advised and represented Crea Madrid Nuevo Norte, S.A., an SPV developing the largest real estate project in Spain (Operation Chamartin) in a by-law arbitration brought before the Madrid Court of Arbitration by the minority shareholders (Merlin Properties and San José), in which they requested the annulment of certain amendments to the by-laws adopted in a general shareholders’ meeting of the company.
Spain > EU and competition Tier 1
Demonstrating substantial experience in restrictive practices and merger control in the media, telecoms, energy and sports spaces, the highly regarded competition group at Clifford Chance is rated for its 'technical excellence and outstanding performance in interactions with administrative, national and European authorities'. Recognised as a ‘team leader’ who is ‘developing and nurturing a new generation of lawyers’, Miguel OdriozolaPractice head(s):
Miguel Odriozola
Other key lawyers:
María Begoña Barrantes; Belén Irissarry; Ana Latorre; Diego Domenech
Testimonials
‘Miguel is a great team leader; he is commercial and allows his more junior team members to shine while guiding them from behind the scenes. What else would you want from a partner? He’s developing and nurturing a new generation of lawyers. He should be highly praised for this.’
‘Belén Irissarry, Ana Latorre and Diego Doménech are great professionals who are continuously growing and relentlessly supporting businesses with clever solutions.’
‘The team is very reactive and available, they are good listeners and humble in understanding the industry and problems. They are swift, practical and focused in their reply, always ready to provide extensive analysis if required.’
‘Miguel Odriozola and Belén Irissarry have an amazing agility in approaching antitrust questions, they provide you with risks and practical solutions to competition issues.’
‘Sector knowledge is important. Clifford masters the subject, but also the sector, which gives more value to his contribution.’
‘Ability and interest in understanding their client’s business. Most especially, understand their client’s objective in that matter. Technical excellence and outstanding performance in interactions with administrative, national and European authorities.’
‘ The CC Competition group truly works as a team. Miguel Odriozola is an outstandingly integrative partner of his team. The professional and personal profile of Belén Irisarri deserves to be highlighted.’
‘The entire team has a high profile that is evident in its relationship with the client and in its commitment to the successful outcome of the matter.’
Key clients
Telefónica
Samsung
Amazon
Superleague (Key Capital)
Oracle
Carrefour
Çimsa (Sabanci Group)
Cellnex
Mapfre
Sanitas (Bupa Group)
Swiss RE
Sistema de Tarjetas y Medios de Pago, S.A.
Saint Gobain
easyJet
IAG and Qatar Airways
Endesa
Banco Santander
Cartonajes International, S.L. (International Paper)
Nokia
Värde Partners
Software AG
Iberdrola
Ontex
Cirrus (currently DTN)
Megasa
Freyssinet
Ardian
Brookfield
Cinven
Restaurant Brands Iberia (Burger King)
Aisles Marines
Codere
GIC
Work highlights
- Represented the creators of the European Super League in a hearing before the ECJ challenging UEFA’s monopoly issues and conflicts of interest.
- Advised Telefónica Tech on merger control clearances and the related M&A work in relation to three transactions in Germany and the UK.
- Acted for IAG and Qatar Airways before the European Commission, the CMA, the Australian authority (ACCC) and other authorities in relation to the clients’ global joint business agreement.
Spain > Industry focus: Healthcare and life sciences Tier 1
Clifford Chance houses a ‘dedicated, attentive and competent‘ team, which is known for handling the full spectrum of intellectual property matters, including supplementary protection certificate (SPC) applications and appeals. The group also advises on a broad range of non-contentious issues, including reorganisation projects, and regulatory mandates concerning the advertising of medicinal products. The Barcelona-based practice is jointly led by: Miquel Montañá, a dispute resolution specialist who frequently acts for global pharma clients in patent infringement actions involving generics; Josep Montefusco, who is particularly adept in preliminary injunction applications; Guillermo Guardia, who regularly advises on acquisition and corporate financing transactions, with an emphasis on cross-border M&A; and Carme Briera, who focuses on administrative and public law-related matters. Adrián Crespo is noted for his deep knowledge of IP and unfair competition litigation, particularly in relation to pharma and biotech patents.Practice head(s):
Miquel Montañá; Josep Montefusco; Guillermo Guardia; Carme Briera
Other key lawyers:
Testimonials
‘The team is very professional. In the pharmaceutical area, they are very knowledgeable. They are also very good in procedural matters.’
‘Josep Montefusco has a lot of experience in this field.’
‘Josep Montefusco is friendly, supportive and easy to work with. He is also creative in his strategy. It was fun to work with him.’
‘Excellent. Made up of dedicated, attentive and competent professionals.’
‘Professionals who are always inclined to improve the client experience, both from a professional and human point of view. ’
‘Clifford Chance is our go-to law firm in Spain. They are excellent strategically, diligent and easy to work with.’
‘Jospe Monetfusco and Adrián Crespo are the key individuals with whom we work a lot.’
Key clients
Exact Sciences
Illumina Cambridge Limited
Edwards Lifesciences
UCB Pharma
Esteve HealthCare
Bial Portela & Cª, S.A.
AstraZeneca
Pfizer Inc
Novartis
F. Hoffmann-Roche
GlaxoSmithKline
BioNtech
Theratecnologies
Grunenthal
Daiichi Sankyo
Menarini
Teva
Biogen
Boehringer Ingelheim
Astellas
Nutrition & Santé
Neuraxpharm
Alexion Pharmaceuticals Inc
Pharma Mar, SA
Work highlights
- Advised Pfizer Inc. on a reorganisation project (Project OFG- Organization for Growth) consisting in the separation of its consumer health and establishment division of the group.
- Advised Theratecnologies on the regulatory aspects related to the advertising of medicinal products for professionals with respect to a specific medicinal product to be launched for the treatment of cancer.
Spain > Intellectual property: Copyright Tier 1
The ‘solid and experienced‘ IP practice at Clifford Chance draws on the firm’s extensive international network to handle high-value copyright matters for international investors and blue-chip companies. Its work encompasses the acquisition of interests in the rights of major brands and sporting teams, as well as copyright litigation and arbitration, regional enforcement and licensing programmes. The vastly experienced Miquel Montañá leads the practice, which is based in the firm’s Barcelona office, and specialises in contentious matters and competition law. IP and unfair competition litigator Josep Montefusco, who has a niche in advertising law, and ‘exceptional‘ senior associate Juan Cuerva de Cañas are the other key names to note.Practice head(s):
Miquel Montañá
Other key lawyers:
Testimonials
‘The team is solid and experienced. They are close, they try to understand our concerns and adapt to our risk appetite.’
‘Juan Cuerva de Cañas is exceptional. Always willing to listen and give his point of view adapted to what we need and what we specifically want, without losing sight of the possible risks and control of the matter.’
‘Knowledge and precision superior to the competition. Reliable advice and global knowledge. Juan Cuerva de Cañas is the associate we work with.’
Key clients
Sixth Street
ILovePdf
Nippon Telegraph and Telephone Corporation (NTT)
Generalli (Assicurazioni Generali S.p.A.)
Factorial
The promoters of the European Super League
Key Capital Partners
Cinven Capital Management
Nikken Sekkei
Unibail Rodamco Westfield
Stirling Square Capital Partners
HILTI Corporation
Lilly
Work highlights
- Advised Sixth Street on the acquisition of a total share of 25% of F.C. Barcelona’s LaLiga audiovisual rights for 25 years, in exchange for an investment of €207.5m.
- Advised Assicurazioni Generali S.p.A. on the acquisition of Liberty Seguros, Compañía de Seguros y Reaseguros, S.A. for €2.3bn.
- Advised Stirling Square Capital Partners on the acquisition of the Spanish group Gestión Tributaria Territorial (GTT), a software provider and software operation service provider to tax administrations in Spain.
Spain > Intellectual property: patents Tier 1
Clifford Chance is a standout practice for patent litigation and it frequently acts for high-profile international clients in the consumer goods and retail, biotechnology, media, pharmaceutical, and telecoms sectors. It is currently involved in the largest pan-European patent litigation case in the pharmaceutical sector. The ‘urbane, thoughtful, creative‘ Miquel Montañá leads the practice from Barcelona, where litigation partner Josep Montefusco and associates Adrián Crespo and Ana Benetó play key roles. Clients note that ‘the technical level is more than outstanding‘ and that the practice is ‘consistently one of the best patent litigation outfits anywhere in the world‘. Though litigation is undoubtedly its strong point, the firm’s IP lawyers are all able to handle both advisory work and disputes.Practice head(s):
Miquel Montañá
Other key lawyers:
Josep Montefusco; Adrián Crespo; Fernando Cerdà Belda; Ana Benetó
Testimonials
‘It is the best firm in Spain in relation to patent litigation. Led by the best litigator and expert in patents and industrial property rights in Spain, that is, Miquel Montañá.’
‘The technical level is more than outstanding and the knowledge of my company and its culture is critical to providing the high-level service that this team provides. Miquel Montañá and Josep Montefusco are recommended.’
‘The team is unique in Spain. Simply the best patent / life sciences practice in the country, and consistently one of the best patent litigation outfits I have worked with anywhere in the world. I am constantly amazed at the quality of their work, advice, strategy and so on. Miquel Montañá is the undoubted star and leader but he has created a very strong team and they should continue thrive.’
‘Miquel Montañá is a thought leader, superb advocate and strategist, able to predict court’s approach to most cases. Josep Montesfusco is also an excellent choice as partner. Adrián Crespo is a future star.’
‘Highly professional advice by the experienced CC patent lawyers.’
‘Worked with Josep Montefusco and Adrián Crespo. They provided very qualified and proactive legal consulting.’
‘Miquel Montañá is the doyen of patent litigation in Spain. Urbane, thoughtful, creative, he is a pleasure to work with. He will always put himself out for you to get superb results.’
‘Amazingly knowledgeable, skilled, efficient.’
Key clients
Novartis
UCB Pharma
F. Hoffman-La Roche
Glaxosmithkline
Sanofi
Bial-Portela
Pfizer
Janssen
Amgen
Regeneron
Illumina INC.
Edwards Lifesciences LTD.
Exact Sciences
Laboratorios Esteve
Daiichi Sankyo
Bristol-Myers Squibb
Biogen
Astrazeneca
Eli Lilly
Henkel
Grunenthal
Takeda
Love Digital Factory
Biontech
Nokia
Samsung
Bayer
Boehringuer Ingelheim
Ipsen Pharma
Lundbeck
Organon
Merck Sharp & Dohme
Novo Nordisk
Rovi
Covis
Vifor
Millenium
Work highlights
- Representing Novartis in patent litigation against the companies that have launched generics of fingolimod in Spain.
- Advising Nokia on multijurisdictional patent enforcement proceedings brought in Spain against two major Chinese mobile manufacturers in relation to telecoms patents.
Spain > Private equity Tier 1
Variously praised for their ‘strong analytical skills, attention to detail‘ and ‘ability to understand the commercial interests of their clients‘, Clifford Chance‘s private equity specialists in Spain act for global PE firms, infrastructure and pension funds along the entire spectrum of matters, from high-end M&A to leveraged finance and fund structuring. The practice has been particularly busy handling sell-side mandates, but is also well placed to assist bidders in big-ticket transactions across a multitude of sectors, including telecoms, healthcare, sports, business services, infrastructure and energy. A renowned figure in the Spanish PE market, Javier AmanteguiPractice head(s):
Javier Amantegui
Other key lawyers:
Samir Azzouzi; Luis Alonso; Ildefonso Alier; Javier Hermosilla; Javier Olabarri; Patricia Puertas
Testimonials
‘Fantastic team of trained and independent professionals that intimately know our private equity house across its offices, so can provide significant added-value with limited review and involvement on the client side. Demonstrated commitment to excellence, with an outcome-oriented approach that translates into their ability to prioritise on key value items and be pragmatic as needed.’
‘Samir Azzouzi: I have rarely seen such an outstanding, hands-on leader within the practice. He demonstrates a great ability to simplify complex matters into more digestible items of negotiation.’
‘Second to none commitment to the client. Extensive experience and legal know-how.’
‘Solid support for contract negotiation. Very strong team technically and with great attention to detail.’
‘Samir Azzouzi has done a fantastic job with us. Very elaborate preparation of documents, and a lot of help in review and negotiation with the counterparty. ’
‘The Clifford Chance private equity team is excellent and stands out due to the following: high availability and level of involvement of the partners in the transactions; team management, so that all members are adequate and focused on the project.’
‘What differentiates them from other firms is that in addition to being top experts in their areas, they always have high availability and put themselves in the client’s shoes.’
‘Strong analytical skills, attention to detail, good ability to understand the commercial interests of their clients, and correctly reflect them in legal documentation.’
Key clients
Allianz Capital Partners (ACP)
Altamar Capital Partners / AltamarCAM Partners
Ardian
Arjun Infrastructure
Artá Capital
Asterion
AXA IM
Blackstone
Brookfield
Caisse de Dépôt et Placement du Québec (CDPQ)
Centerbridge
Cinven
Corporación Financiera Alba
Elliott Advisors
EQT
Key Capital Partners
KKR
Mubadala
Partners Group
Rivean Capital
Sixth Street
Stirling Square Capital Partners
Swiss Life
Trilantic Capital Partners
Värde Partners
Work highlights
- Advised Cinven on the acquisition of a majority stake in Amara NZero from ProA Capital.
- Advising Ardian on an agreement to sell ASR Wind to Naturgy.
- Advised sovereign wealth fund Norges Bank on the acquisition of a 49% interest in a 1.3 GW portfolio of solar plants and onshore wind farms in Spain from Iberdrola.
Spain > Projects and energy Tier 1
With extensive experience in the regulatory, financing, transactional and litigious aspects of energy matters and projects, the ‘multidisciplinary’ team at Clifford Chance enjoys a first-class reputation in the market, often attracting instructions from a spread of international and Spanish energy companies and private equity funds. The ‘exceptional’ José Guardo is highly skilled at advising on the financing of energy and infrastructure projects. He jointly heads the practice with Jaime Almenar, whose background in public law makes him counsel of choice for several clients seeking advice on energy regulations. Other noteworthy practitioners include José Luis Zamarro, an expert in Spanish regulated sectors, Eduardo Sánchez, who is praised for his ‘excellent negotiating skills’, and Eugenio Fernández-Rico, who is often engaged in M&A involving energy assets.Practice head(s):
Jaime Almenar; José Guardo
Other key lawyers:
José Luis Zamarro; Eugenio Fernández-Rico; Eduardo Sánchez; Javier Hermosilla; Alba Sande
Testimonials
‘Multidisciplinary team, with great knowledge of the sector and client needs. Full availability to achieve the client’s objectives, mitigating project risks, and perfect coordination with other teams and advisers. They are not limited to giving legal advice, but rather have an active part in the negotiation strategy.’
‘Work capacity, knowledge, experience, talent and willingness to help.’
‘Eduardo Sánchez – excellent negotiating skills.’
‘Clifford Chance has a perfectly integrated team, which complements and coordinates to provide high-quality legal advice. They are capable of delivering the matters entrusted to them in a short period of time, making the client feel well cared for. ’
‘The relationship between the professionals and the client is fluid; they are always available and focused on providing quality work.’
‘Ability to access lawyers from different practices quickly. Knowledge of technical and financial aspects.’
‘Clifford Chance is a safe bet for project matters in the energy sector. Both due to its international knowledge and the collaboration of the projects and public law teams, Clifford is a safe reference for matters of great importance.’
‘José Guardo is an exceptional lawyer; he is valued for advising companies on strategic and complex matters. José combines knowledge of civil and commercial matters with a deep understanding of business, especially energy projects.’
Key clients
Iberdrola
Endesa
Soladvent
Repsol
Eni
Grenergy Renovables
China Three Gorges
Galp
Finerge
Elawan Energy
AIP Management
Atlas Renewable Energy
Cubico
Banco Santander
Natixis
Forestalia
Ardian
Vauban
Solarpack
Solaria Energía
Work highlights
- Advised Norway’s sovereign wealth fund Norges Bank on the acquisition of a 49% interest in a 1.3 GW portfolio of solar plants and onshore wind farms in Spain from Iberdrola.
- Advising Iberdrola on a wide range of matters, including the sale by Neoenergia of 50% of the shares of Neoenergia Transmissora 15 SPE for over €230m.
- Advising Grenergy on the acquisition of Sofos Harbert Renewable Energy, the sale of a 150 MW PV plant in Spain to a European IPP, and the financing of green energy projects in Chile.
Spain > Public law Tier 1
The ‘highly experienced public law team’ at Clifford Chance is well placed to advise on the regulatory aspects of major transactions involving regulated sectors, and represent clients in administrative, pre-judicial, and judicial proceedings before all authorities. The team has a strong focus on the energy, telecoms, sports, infrastructure, transport, water and healthcare isectors. Considered ‘one of the most prestigious professionals in public law in Spain’, practice head Jaime Almenar is particularly active in mandates concerning energy regulation, financial regulation, public procurement, and environmental law. With a wealth of experience in regulated industries, José Luis Zamarro has a special focus on public sector finance and administrative sanctions. Administrative law specialist Carme Briera is active in the TMT and energy segments. Marc Casas regularly represents clients before public authorities, regulatory agencies and contentious-administrative courts. Clara Alcaraz left the firm in January 2023.Practice head(s):
Jaime Almenar
Other key lawyers:
José Luis Zamarro; Carme Briera; Marc Casas; Octavio Cansec; Alba Sande
Testimonials
‘Clifford Chance’s public law team is one of the best in the market. We value the expertise they have in public law and administrative resources, as well as the flexibility and results-oriented approach they demonstrate. They are excellent at writing and presenting the cases, the strategy and the approach. ’
‘I work mainly with Jaime Almenar, whom I consider to be one of the most lucid minds in the Spanish legal sector. He is an excellent lawyer, with a vast knowledge of public law, agile, fast and with a truly direct and pragmatic approach. He is truly a star of the legal profession. I have worked with many other lawyers and I have not found in others a mind as clear as his.’
‘For an in-house lawyer, it is essential that the firm to choose in public law stands out for its detailed knowledge of the relevant market, the institutions involved, the most relevant cases and jurisprudence in the sector and, by understanding the complexity of the matter, that it offers various alternatives. and complete strategies to face a scenario. And in all these matters, Clifford Chance stands out from other firms.’
‘Jaime Almenar, one of the most prestigious professionals in Public Law in Spain, shows great closeness and honesty when evaluating the viability of the various actions. He is capable of proposing very complete solutions with different fronts of action and carries out particularly constant and proactive monitoring of the matter, which greatly facilitates management for the in-house lawyer.’
‘The public law team at Clifford Chance Madrid is a reference in Spain. They have great knowledge about the procedures related to regulation (CNMC, Ministry, CCAA and municipality).’
‘Jaime Almenar is a reference in Public Law. He is an authority in sectors such as telecoms and energy, which allows him to contribute a lot of value in the development of new services such as electric mobility, hydrogen or hot and cold networks.’
‘This team responds perfectly to the demands and responsibility expected of a Magic Circle firm, and combines top-level coordinated advice on multijurisdictional matters along with extraordinary national strategic advice. Personally, I especially value the closeness of the two partners of the department, Jaime Almenar and José Luis Zamarro, who are always directly involved in the matters, without deviating from the management of the case by delegating it to other younger lawyers.’
Key clients
BBVA
Iberdrola
Endesa
Grenergy
Hydeal Asturias
British Telecom
Norges Bank
ACS Group (including Dragados and VÍAS)
Cellnex
Sacyr
Fertiberia
Moove Cars
Oracle
Delivery Hero
Bytedance (TikTok)
King Street, Taconic, SVP and Attestor
Phunciona Gestión Hospitalaria
Gestión y Técnicas del Agua (Gestagua)
Construcciones y Auxiliar de Ferrocarriles (CAF)
Griñó Ecologic
Red Eléctrica de España (REE)
UTE Analiza
Abertis Mobility Service (Abertis Group)
Ercros
Mubadala
Powerdot
Acciona
Metro Ligero Oeste
Madrileña Red de Gas, PGGM, Gingko Tree and EDF
Totalenergies
Work highlights
- Advised a committee of international investors (King Street, Taconic, SVP and Attestor), which control a majority stake in the financial debt of 8 Spanish bankrupt toll roads with a global financial debt of €3.5bn, on the termination of concession contracts.
- Provides comprehensive legal advice to investment firm Ares Capital and chauffeur-driven rental cars operator Grupo Moove Cars covering all fields of law (criminal law, antitrust, corporate), with a particular focus on public law and regulation.
- Part of Iberdrola’s Regulation Committee, responsible for providing highly strategic advice regarding regulatory issues.
Spain > Real estate and construction Tier 1
The ‘solid and highly experienced’ real estate team at Clifford Chance handles a large volume of acquisitions, joint ventures, disposals and project development mandates for international funds, financial institutions, insurers and developers. The group is steered by Carlos Portocarrero de las Heras, who specialises in sales and acquisitions of real estate companies and portfolios. Key support is offered by Andrés Berral, a name to note for the sale of REO (real estate owned) portfolios, and María Pradillo, who possesses a strong background in real estate finance.Practice head(s):
Carlos Portocarrero
Other key lawyers:
Testimonials
‘A lot of knowledge of the sector and the main payers.’
‘It is a firm of recognised international prestige, which provides security and peace of mind when hired. They intervene in complex transactions, which gives them continuously growing experience and skill development.’
‘Firm lawyers have greater specialisation and experience due to the number of deals in which they intervene. The absence of a lawyer can be covered by another lawyer who will have the same qualifications and professionalism. Its best qualities are availability, dedication, professionalism.’
‘The key to success is surely knowledge of the client, their objectives, limitations, and desires. This is what sets Clifford Chance apart. Collaboration must be hand in hand. The lawyer is part of the team.’
‘Carlos Portocarrero, apart from being an emblematic figure of the profession, a great professional with a lot of experience, is a person also endowed with an essential pragmatism to carry out any large-scale transaction, and transmits this to his teams.’
‘The team is solid and highly experienced, which allows them to find practical solutions to specific problems.’
‘Andrés Berral has extensive knowledge and experience in closing real estate acquisition transactions.’
Key clients
Banco Santander
Cerberus
AXA
BentallGreenOak
Unibail Rodamco Westfield
Sareb
Värde Partners
Carrefour
Prologis
Kennedy Wilson
AIG Asset Management
Emin Capital
GMP
Orion
Hellenic Bank
DWS
Mapfre
Numa stays
Angelo Gordon
Palm Capital
Work highlights
- Advised Prologis on the acquisition of aportfolio of 128 logistics facilities and six new developments from Crossbay for €1.585bn across seven countries in Europe.
- Advised AXA on the joint sale by AXA, CBRE IM and Greystar of the largest student residence platform in Spain to PGGM.
- Advised Vía Célere on the creation of a joint venture with the US-based real estate company Greystar and the transfer of Vía Célere’s residential rental portfolio to the JV.
Spain > Capital markets: Equity Tier 2
Clifford Chance possesses ‘extensive knowledge and experience in capital markets transactions‘, including the full range of equity and equity-linked products, from IPOs to rights issues, private placements, and delistings. Financial institutions and major Spanish corporates regularly seek the team’s advice on cross-border transactions and innovative structures. Working in close collaboration with the firm’s tax and real estate specialists, the team is also well versed in SOCIMIs (Spanish real estate investment trusts)-related capital markets matters. Eduardo García heads up the global financial markets practice, where Javier García de Enterría and senior associate Francisco Pizarro are names to note for ECM deals.Practice head(s):
Eduardo García
Other key lawyers:
Testimonials
‘The Clifford Chance team has extensive knowledge and experience in capital markets transactions, providing innovative and effective solutions. The relationship with the client is one of its strong points. Without a doubt, it is one of the great references in the Spanish market.’
‘The extensive experience in relevant transactions gives them a very in-depth knowledge of this space, which is of great help to our day-to-day operations. They propose innovative and useful ideas as well as already tested structures that work.’
Key clients
Cellnex Telecom
Citigroup
CaixaBank
EQT
JPMorgan
Mansfield Invests SOCIMI
Work highlights
- Advised an international banking syndicate on the €9.4bn initial public offering of Porsche AG on the Frankfurt Stock Exchange.
- Advised Cellnex on a capital increase of €1.352m, which was fully subscribed by CK Hutchison and implied the issuance of 27,147,651 million shares which started trading on the Spanish Stock Exchanges on 11 November 2022.
- Advised the managers on the English and Spanish law issues concerning the issue by Redeia (Red Eléctrica Corporación, S.A.) of €500m 5.5 Year Non-Call Undated Deeply Subsordinated Reset Rate Securities.
Spain > Environment Tier 2
Led by Jaime Almenar, the environmental team at Clifford Chance provides legal support to a variety of clients, including life sciences, energy and mining companies, in wide range of matters, namely compliance, legislative issues, litigation transactions and large-scale projects. In recent years, due to the growing interest from foreign investors in the Spanish renewables sector, the firm’s combined environmental, corporate and finance offering has secured it an increasing number of instructions from international clients seeking assistance with acquisitions of wind, solar and hydroelectric power plants. José Luis Zamarro is a key figure in the energy and renewables sector.Practice head(s):
Jaime Almenar; José Luis Zamarro
Testimonials
‘The quality of the work and proposals was excellent.’
‘We have worked with Jaime Almenar, and the experience has been outstanding.’
‘They always had the work and the proposals to discuss with sufficient advance notice.’
Key clients
Repsol
Morgan Stanley Infrastructure Partners (“MSIP”)
Iberdrola
Endesa
Hydeal Asturias
Red Eléctrica Española (REE)
Fertiberia
Gestión y Técnicas del Agua (Gestagua)
Griñó Ecologic
Mubadala (Matsa)
Denarius Metal
ACS
China Three Gorges
Norges Bank
Sterling Square Capital Partners (SAS)
Grenergy
Work highlights
- Advised Morgan Stanley Infrastructure Partners on the financing of the acquisition from Sacyr of Valoriza Servicios Ambientales for an enterprise value of €734m.
- Advised Fertiberia in relation to the provision of a guarantee of €65.9m required by the Spanish National Court (Audiencia Nacional) to ensure the execution of restoration/environmental regeneration works under the project to close decanting basins in Huelva (Andalusia, Spain), which were historically used by the company.
- Represented Spanish TSO REE in the expropriation proceedings regarding two new high-voltage transmission lines in the Spanish autonomous community of Valencia (more than 60 claims).
Spain > Industry focus: TMT Tier 2
Clifford Chance handles a range of corporate, regulatory and litigation matters across the TMT space, though it has particular strength in the telecoms sector through relationships with key clients, among them Cellnex Telecom, British Telecom, and Telefónica. Dispute resolution specialist Jaime Almenar is a key figure in the practice, while corporate partner Guillermo Guardia advises on high-value M&A transactions in the sector. Recent highlights for fellow corporate partner Luis Alonso include advising numerous European clubs and the US investment firm Sixth Street on the 2023 Soccer Champions Tour.Other key lawyers:
Jaime Almenar; Guillermo Guardia; Luis Alonso; Juan Cuerva
Testimonials
‘In my opinion, they are the firm with the best knowledge of the market, TMT regulations and their impact on the business. They are practical lawyers, very lucid and who can address any matter without the need to carry out a “briefing” of the technical or business implications due to their prior knowledge. They are very fast and have solid legal training not only in TMT but also in civil, commercial and administrative law, something that does not occur in other specialised law firms or boutiques that may know about TMT but do not have as much legal solidity.’
‘I work with Jaime Almenar. He is truly a legal star. I have never met a lawyer so mentally agile and quick. It is a real delight to discuss any legal matter with him as he is capable of unraveling the mess and finding a pragmatic solution. I value his speed, his clarity and his legal solidity. He is really a very solid lawyer and one who can really be trusted.’
‘They differ in quality and experience in the market with a global vision of the technological market. Juan Cuerva is the reference associate.’
Key clients
Cellnex Telecom
Ardian
Arjun Infrastructure Partners
Vodafone
British Telecom
Talkdesk
European Super League Company / A22 Sports Management
Real Madrid, FC Barcelona and Athletic de Bilbao
Sixth Street
Telefónica
Key Capital Partners
Samsung
Oracle
Factorial
ILovePdf
Nippon
Nokia
Airbus
Software AG
Work highlights
- Acting as the main legal advisor to Cellnex Telecom in the €10bn acquisition of telecoms sites from CK Hutchison in six European countries.
- Advised Asterion Industrial Partners and its portfolio company Nabiax on the sale of Nabiax’s Americas operations to Actis.
- Acting for European Super League Company (company formed by top 12 founding football clubs) and the promoters of the competition, A22 Sports Management, in all aspects related to the formation of The Super League.
Spain > Insurance Tier 2
Clifford Chance is the trusted adviser to leading insurers, reinsurers, banks, distributors and pension funds on a wide range of insurance matters, from corporate transactions to litigation. The 'cohesive' group, made up of 'lawyers with the highest quality, training and experience in the field', is under the joint leadership of Jaime VelázquezPractice head(s):
Jaime Velázquez; Miguel Barredo
Other key lawyers:
Testimonials
‘A cohesive team with extensive and specialised knowledge in the subject. They easily adapt to the requests and needs of each matter.’
‘Juan Valcárcel and Miguel Barredo are available and easy to get along with. They explain complicated topics in an easy-to-understand way and help give a broad perspective of the possible ramifications of different issues.’
‘The firm has a team of lawyers with the highest quality, training and experience in the field, they collaborate and understand the client’s needs and adapt to them.’
‘Jaime Velázquez and Juan Valcárcel have collaborated with us on a project and our satisfaction with their involvement and results could not be more satisfactory: complete professionalism and excellent client service. ’
‘Clifford Chance insurance team is a top-notch team. They are very quick, knowledgeable, and go the extra mile for the client.’
‘Miguel Barredo is wise beyond his years. His advice is always practical, quick and to the point. Juan Valcárcel is very familiar with insurance legislation. ’
‘Very knowleageable of the law and regulatory matters.’
‘The specialisation and experience of the team is notable; they provide a level of knowledge and solutions that stand out compared to others.’
Key clients
Abanca
Admiral
AXA Partners
Sanitas / Bupa
Carrefour
Domestic & General
Fidelidade
Generali
JP Morgan
Mapfre
Mutua Madrileña
Reliance National Insurance Company
Swiss Re
WiZink Bank
Zurich
CGICE
Gruppo MutuiOnline
Work highlights
- Advised Generali on the acquisition of Liberty Seguros from Liberty Mutual for €2.3bn.
- Advised Gruppo MutuiOnline on the acquisition of Rastreator (Spain and Mexico) and LeLynx (France) from RVU.
- Representing Mutua Madrileña in court proceedings involving allegations of abuse of dominant position in the vehicle insurance market.
Spain > Intellectual property: Trade marks Tier 2
Described by a client as a team that is ‘easy to communicate with and always accessible‘, Clifford Chance‘s two-partner practice is frequently involved in complex and significant matters. IP litigator and practice head Miquel Montañá and dispute resolution specialist Josep Montefusco are often instructed by high-profile clients from the media, technology, healthcare, life sciences, banking, consumer goods and sports sectors. Senior associates Sonia Sebé, who focuses predominantly on trade marks, and Adrián Crespo, who handles design disputes, are key members of the team.Practice head(s):
Miquel Montañá
Other key lawyers:
Testimonials
‘Professional and very serious team, gets to the point and offers a clear version of the pros and cons of each matter, easy to communicate with and always accessible.’
‘Miquel Montaña and Sonia Sebé are excellent agile professionals who are attentive to everything, they have an open mindset when proposing a strategy and looking for solutions for the client.’
‘Josep Montefusco goes above and beyond for his clients.’
Key clients
GB Foods
Uriach
Lindt
Honda
Philip Morris
Affinity Petcare
The European Superleague
Vivo
L’ Oréal
Novartis
Henkel
Faca Packaging
Esteve Healthcare, S.L.
Westfarmers
Samsung
Bayer Cropscience S.L.U.
Work highlights
- Advising the organisers of the European Super League on the registration of the “Super League” trade marks as well as on opposition proceedings brought by the Danish League of Football against one of said trade marks.
- Advising Novartis on the trade mark-related aspects of the importation of some of its drugs from other European Union member states.
Spain > Restructuring and insolvency Tier 2
With a balanced restructuring and insolvency practice, the team at Clifford Chance stands out for its transactional capabilities. The team’s expertise extends to matters involving Spanish insolvency schemes, attracting instructions from a client roster that includes leading banks, financial investors, and corporates, often seeking cross-border support. Leadership is split between Eduardo García, who oversees the restructuring side of the practice, and Iñigo Villoria, who heads up the insolvency practice. With considerable experience in structured finance and large-scale restructurings, Epifanio Pérez is another name to note. Felipe Font showcases particular expertise in restructuring mandates and real estate finance. Alexandra Borrallo left the firm in May 2023.Practice head(s):
Iñigo Villoria; Eduardo García
Other key lawyers:
Key clients
Angelo Gordon
Eroski
Codere
Banco Santander
King Street
Strategic Value Partners
Taconic
Attestor
BBVA
HSBC
ING Bank
Raiffeisen Bank International
Amsterdam Trade Bank
Magnetar Capital
Pepe Jeans
Bank of America Merril Lynch International DAC
Varde (Vía Celere)
Blackstone (Fidere)
Eurona Wireless Telecom / Global Satelite Technologies
Work highlights
- Advised Angelo Gordon and Westmont Hospitality Group on their acquisition of Spanish hotel group Room Mate, following the completion of the company’s financial restructuring.
- Advised Rioglass Servicios, S.L.U. on the acquisition of a productive unit in the context of the insolvency proceeding of Abengoa Solar España, S.A.U.
- Advised the Spanish subsidiaries of the Otravo Group on the filing of its insolvency proceedings.
Spain > Tax Tier 2
The ‘highly decisive and pragmatic‘ tax team at Clifford Chance has ‘the broadest experience in all areas‘ standing out for its proficiency in transactional mandates, particularly in M&A, corporate restructuring, debt capital markets, and real estate investments. The team also handles litigation proceedings, including instructions from international clients on tax rulings applications before the Spanish Directorate General for Taxation. The practice is led by the ‘unbeatable‘ Pablo Serrano De Haro, who has ‘great knowledge of the sector and all tax issues‘ and serves as counsel of choice for international investors on the structuring of their investments in Spain and internationally. Recently promoted to senior counsel and counsel respectively, Roberto Grau ('a reference for tax issues within the financial/banking sector') and Fernando Escribano also play key roles in the team.Practice head(s):
Pablo Serrano de Haro
Other key lawyers:
Roberto Grau; Fernando Escribano; Carlos Carrera
Testimonials
‘I would highlight creativity in finding solutions for clients. In particular, Pablo Serrano de Haro, Roberto Grau and Fernando Escribano stand out.’
‘Availability and technical rigour adapted to the needs of each client. I would highlight Roberto Grau as a reference for tax issues within the financial/banking sector.’
‘It is a team that always responds, and that has demonstrated its experience and knowledge on a significant issue for the company, providing great follow-up during these years and with a very satisfactory ending for the company.’
‘I think CC blends well with the client, forming a single team.’
‘Pablo Serrano de Haro is an excellent professional, with great knowledge of the sector and all tax issues. He generates great confidence in the client and has exceptional personal treatment. I would recommend him, without a doubt. ’
‘Clifford Chance’s tax team has the broadest experience in all areas. Specifically in Real Estate, the team’s knowledge of all tax regimes and specifically of the SOCIMI stands out when planning and managing structures. Highly decisive and pragmatic.’
‘Its client orientation, ability to adapt to changing situations and help the clients make decisions with clear solutions set the firm apart. Pablo Serrano de Haro leads a team that I would describe as unbeatable.’
Key clients
Värde Partner
Autonomy Capital
BentallGreenOak
Kennedy Wilson
Allianz Real Estate
P3 Spain Logistics Parks SOCIMI
Hadley Investments SOCIMI
Banco Santander
Cerberus
BBVA
Work highlights
- Advised both European Investment Bank (EIB) and European Investment Fund (EIF) as main investors on a €1.2bn STS securitisation backed by auto loans originated by BBVA.
- Advised Spanish residential property developer Via Célere on the Spanish legal and tax aspects of the agreement for the sale of 55% of its residential rental portfolio to US-based real estate company Greystar.
- Advised Autonomy Capital on the potential restructuring and financing of one of its larger European investment platforms engaged in real estate investments as well as on its Spanish real estate portfolio and the creation of a Spanish platform.
Spain > Data privacy and data protection Tier 4
Clifford Chance handles a strong flow of litigation and advisory work arising from data privacy regulations, including significant matters before the Spanish Data Protection Agency (AEPD). The firm is a key adviser to Centros Comerciales Carrefour and its financial division on the data protection aspects of its day-to-day activity, with practice head and former State Attorney Fernando Irurzun taking the lead. All members of the practice have a dual adviser/litigator role which is a boon to the practice’s clients, among them Vodafone, which Irurzun assisted with proceedings before the AEPD concerning international data transfers and the processing of client data for marketing purposes.Practice head(s):
Fernando Irurzun
Key clients
Vodafone
Centros Comerciales Carrefour
I-DE Redes Eléctricas Inteligentes
Servicios Financieros Carrefour
Correduría de Seguros Carrefour
Stirling Square Capital Partners
Esteve Healthcare
Work highlights
- Advised Vodafone España before the Spanish Data Protection Agency (AEPD) and the Administrative Chamber of the National Court on two contentious proceedings, initiated due to sanctions imposed in Spain by the AEPD.
- Advised Centros Comerciales Carrefour and Servicios Financieros Carrefour in relation to all data protection aspects of its day-to-day activity.
- Advised I-DE Redes Eléctricas Inteligentes in relation to the challenge, before the Administrative Chamber of the National Court, of the decision taken by the Spanish Data Protection Agency (AEPD), imposing a fine of €200k on I-DE Redes, due to a violation of articles 5.1.b) and c) and article 6.1.b) GDPR.
Spain > White-collar crime Tier 4
Focused on corporate crime, compliance and internal investigations, the group at Clifford Chance is equipped to handle mandates concerning tax evasion, corruption, bribery, money laundering and environmental offences. preventative advice right through to litigation. The group, which offers preventive and litigation services, is led by Fernando Irurzun. Sonia Trendafilova is singled out for her expertise in investigations and risk management. Former co-head Carlos Zabala is no longer at the firm.Practice head(s):
Fernando Irurzun
Other key lawyers:
Testimonials
‘The firm’s international team is a key factor when choosing Clifford Chance as adviser for certain matters that concern different jurisdictions in which the entity has a presence.’
‘Knowledge of the industry and the search for practical and efficient solutions to the challenges that arise throughout the projects.’
‘A team with a vision of the market and our position that has been the key to a good relationship. Practical vision of law, not only looking for the best legal solution, but also the best business solution.’
‘Availability and ability to understand the problem and alternatives.’
Key clients
Vingroup
BT España
HIG
The Stars Group
CODERE
Saint Gobain
Samsung
Grupo Cursach
Evolutio
Vía Celere Desarrollos Inmobiliarios S.A.
AIG Europe
Matrix Renewables Spain
Greenoak
Instituto de Empresa (IE)
Barclays
Elewan Energy
BBVA
Brookfield
Synlab Europe
Cinven
CTG Europe
Statkraft
Spain > Employment Tier 5
The employment team at Clifford Chance handles a mix of due diligence, disciplinary procedures, contract drafting and litigation work for a varied client base, which features names from the energy, retail, banking and life sciences sectors. Jorge Martín-Fernandez is regularly sought out by international and domestic clients for advice on employment contracts and contentious proceedings. He oversees the department with Pablo Serrano De Haro, a key point of contact for corporate restructurings and cross-border M&A transactions.Practice head(s):
Jorge Martín-Fernández; Pablo Serrano de Haro
Key clients
Generali
Pfizer
Wyeth Pharma
Citibank
Cellnex
Sunco Energy
Tinsa Group
Restaurant Brands Iberia
Veolia Spain
Exane/ BNP Paribas
Ardian
FreeNow
Prosus
Beat
Natixis
Management team of Inke
Angelo Gordon / Room Mate
Key Capital
Blackrock
Work highlights
- Advises Pfizer on a wide range of employment matters on an ongoing basis, including litigation procedures for illegal assignment of employees, remote working agreements, bonus policies and modification of employment conditions.
- Advised FreeNow on a cross-border restructuring process, which implied the termination of several employment contracts in Madrid and Barcelona.
- Advised Veolia on the employment aspects of an international share plan.
Latin America: International firms > Corporate and M&A
Clifford Chance is relatively unusual in having an established M&A team in Sao Paulo, backed by a number of Latin America-facing M&A specialists in the US and Europe. It is also active in cross-border transactions between Asia and Latin America. It continues to impress in representing corporates and financial investors in Latin America deals and advises a range of businesses in Brazil and other key markets around the region. Energy and infrastructure is a key strength for the team, which has worked on a series of investments in renewable energy projects. It has a numerous Spanish and Portuguese speakers, both Latin American-born practitioners and those that have lived and worked in the region. Although most of its Latin America-focused lawyers are based in the Americas, the firm’s London office has also worked on a series of recent headline deals. David Brinton is a leader in energy and infrastructure deals, and is noted for his experience in financial sponsor investments. Anthony Oldfield is managing partner of the Sao Paulo office and a vastly experienced M&A specialist, with a recent track record in venture capital investments in the Brazilian fintech sector. Thais Garcia is an increasing established talent in M&A and a genuine Latin America expert who now leads many of the firm’s headline deals in the region. Madrid’s Samir Azzouzi is another key figure with a fine record in financial sponsor investments; senior figure Javier AmanteguiPractice head(s):
Sarah Jones; Benjamin Sibbett; Anthony Oldfield
Testimonials
‘It is a firm that has lawyers who are fluent in Spanish, which is a plus for M&A practice in Latam.’
‘Alan Sakar is a business oriented lawyer. He provides easy to understand answers and is always looking for practical solutions to problems. He is available and always with a practical point of view in negotiations.’
‘CC is a great firm. David Brinton and Thais García have a very deep knowledge of the market, they are always available and they propose creative solutions. Their value is at the highest level.’
Key clients
ACS
Interconexión Eléctrica
Actis
Canada Pension Plan Investment Board (CPPIB)
Caisse de dépôt et placement du Québec (CDPQ)
Cubico
Empresas Públicas de Medellín
Macquarie
MPC Energy Solutions
Work highlights
- Advised ISA Inversiones Chile on its joint venture with Transelec and China Southern Power Grid International (through the Yallique Consortium) for their joint bid for the construction and operation of Chile’s Kimal-Lo Aguirre line, a 1,500-km-long high voltage direct current line, with an estimated value of $1.3bn.
- Advised Actis on the sale of Brazil’s largest independent renewables platform, Echoenergia, to listed Brazilian utilities company, Equatorial Energia.
- Advised MPC Energy Solutions on its first investments in renewable energy projects in Latin America, including a ready-to-build wind park in Panama and multiple solar PV plants in various stages of development in Colombia, Honduras, and Mexico.
Clifford Chance > Firm Profile
The firm: Clifford Chance is one of the world’s pre-eminent law firms, with significant depth and range of resources across five continents. As a single, fully integrated, global partnership, it prides itself on its approachable, collegial and team-based way of working. The firm always strives to exceed the expectations of its clients, which include corporates from all the commercial and industrial sectors, governments, regulators, trade bodies and not-for-profit organisations. It provides them with the highest quality advice and legal insight, which combines the firm’s global standards with in-depth local expertise.
Types of work undertaken
Capital markets: the capital markets practice concentrates on securities transactions and other products sold into the capital markets. The practice is founded on a full-service US and UK securities law capability, complemented by local securities law expertise in each of the key financial centres. It provides practical, integrated legal advice covering the full spectrum of global capital raising activities including public and private domestic and international offerings of traditional debt and equity securities as well as convertible and other derivative and structured securities.
Corporate: the corporate practice handles some of the world’s largest and most complex M&A transactions. It combines global transaction capability with a full service of English, US and civil law expertise in the key financial centres across Europe, the Americas and Asia Pacific. In addition to mainstream M&A, the firm also encompasses leading specialist practices in: commercial contracts, competition and antitrust, communications, energy, healthcare, financial institutions, funds, investment banking, insurance, media and technology, and private equity.
Finance: Clifford Chance’s finance practice is the leading international finance practice of any law firm. The practice provides highly commercial and practical advice across the full spectrum of financial products including syndicated lending and leveraged and acquisition finance, asset finance, derivative products, project finance, financial regulatory, insolvency, restructuring and structured finance.
Litigation, dispute resolution and risk management: the firm has experience in virtually all segments of the business and financial markets across multiple jurisdictions. The lawyers work with clients to resolve disputes efficiently and effectively – whether through arbitration, litigation or other techniques.
Real estate: Clifford Chance’s leading real estate practice offers UK, European, Asian and US real estate capability. The practice advises the real estate industry’s leading players on the entire property ‘life-cycle’ from the initial acquisition, development, leasing, joint venturing and financing through to the final exit, as well as tax structuring, PFI/PPP, corporate outsourcing, planning, environment and litigation.
Tax, pensions, employment and incentives: Clifford Chance has one of the world’s largest international tax groups within a single law firm. The firm is uniquely placed to provide leading edge advice to clients, and the practice is structured on an integrated global basis. Local tax groups within the practice work closely with areas such as securitisation, securities, M&A, corporate restructuring, private equity, real estate and funds.
The pan-European VAT group advises on all areas of VAT and has particular strength advising on novel and complex issues in the structured finance, financial services, corporate finance and real estate sectors.
The team of experienced employment, employee benefits, ERISA, immigration and pensions specialists work with clients from a wide range of sectors to address local and cross-border issues.
International offices: Abu Dhabi, Amsterdam, Bangkok, Barcelona, Beijing, Brussels, Bucharest, Casablanca, Dubai, Düsseldorf, Frankfurt, Hong Kong, Istanbul, Jakarta*, London, Luxembourg, Madrid, Milan, Moscow, Munich, New York, Paris, Perth, Prague, Rome, São Paulo, Seoul, Shanghai, Singapore, Sydney, Tokyo, Warsaw, Washington, D.C., Riyadh**
*Linda Widyati & Partners in association with Clifford Chance
**Clifford Chance has a co-operation agreement with Abuhimed Alsheikh Alhagbani Law Firm in Riyadh
Lawyer Profiles
Photo | Name | Position | Profile |
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Mr Javier Amantegui | Javier Amantegui is a partner in Clifford Chance’s Corporate/M&A group, based in… | View Profile |
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Javier García de Enterría | Javier García de Enterría specialises in corporate matters and equity capital markets.… | View Profile |
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Mr Guillermo Guardia | Guillermo Guardia has broad experience in international mergers and acquisitions, private-equity and… | View Profile |
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Carlos Hernández-Canut | Carlos Hernández-Canut’s main areas of practice are finance law, including banking and… | View Profile |
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Alberto Manzanares | Alberto Manzanares has over 30 years’ professional experience in the banking sector… | View Profile |
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Miguel Odriozola | Miguel Odriozola is the Head of the Clifford Chance Antitrust team in… | View Profile |
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Carlos Portocarrero de las Heras | Carlos Portocarrero de las Heras specialises in joint ventures, bidding process, sale… | View Profile |
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Jaime Velázquez | Jaime Velázquez specialises in M&A and corporate finance, mainly focused in regulated… | View Profile |
Staff Figures
Number of partners : 550 Number of other fee-earners : 3,300Legal Briefings
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Competition for competition claims?
Until recently, the lion’s share of follow-on claims in relation to large EU-wide cartels were brought in the English courts. The claimant is the one who decides where to bring the claim (subject to the chosen courts having jurisdiction) and the availability of broad disclosure and other aspects of English procedure have made England an … -
Securities litigation gathers momentum in the UK
Clifford Chance’s Ian Moulding, Chris Yates, Jason Epstein and Ryan Byrne consider the rising tide of US-style ‘stock drop’ shareholder class actions in the UK, and offer practical tips for in-house counsel on managing the risk of shareholder litigation Shareholders can bring claims against listed companies to recover losses suffered as a result of a drop …
Comparative Guides
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United States: Competition Litigation
Published: July 2023
Authors: William Lavery Joe Ostoyich Weisiyu Jiang Kimberly Shi
This country-specific Q&A provides an overview of Competition Litigation laws and regulations applicable in United States.
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United Kingdom: Merger Control
Published: October 2023
Authors: Alex NourryDaniel Harrison
This country-specific Q&A provides an overview of Merger Control laws and regulations applicable in United Kingdom.
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France: Real Estate
Published: December 2023
Authors: David GerardKaren BortolottiAntoinette Gru
This country-specific Q&A provides an overview of Real Estate laws and regulations applicable in France.
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Germany: Real Estate
Published: December 2023
Authors: Dennis Blechinger
This country-specific Q&A provides an overview of Real Estate laws and regulations applicable in Germany.
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Spain: Real Estate
Published: December 2023
Authors: Maria PradilloCarme BrieraFernando EscribanoJavier OlabarriLaura del Campo
This country-specific Q&A provides an overview of Real Estate laws and regulations applicable in Spain.
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The Netherlands: Real Estate
Published: December 2023
Authors: Liesbeth BuiterLotte de BruinStern FlikCile ArnoldyGülsah Vural
This country-specific Q&A provides an overview of Real Estate laws and regulations applicable in The Netherlands.
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United Kingdom: Real Estate
Published: December 2023
Authors: Michael CoxallMatt TaylorAlice Raine
This country-specific Q&A provides an overview of Real Estate laws and regulations applicable in United Kingdom.
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United States: Real Estate
Published: December 2023
Authors: Ness CohenEddie FrastaiJeanne Roig-IrwinKris FerrantiJon Newman
This country-specific Q&A provides an overview of Real Estate laws and regulations applicable in United States.
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Poland: Investing In
Published: January 2024
Authors: Agnieszka Janicka Tomasz Derda Bartosz Kaniasty Katarzyna Kuchta
This country-specific Q&A provides an overview of Investing In laws and regulations applicable in Poland.
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United Kingdom: Life Sciences
Published: March 2024
Authors: Stephen Reese Alex Walker Molly Margiotta
This country-specific Q&A provides an overview of Life Sciences laws and regulations applicable in United Kingdom.
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EU: Life Sciences
Published: March 2024
Authors: Dr. Gunnar Sachs, Maître en droit (Paris) Dr. Sabrina Vivekens, LL.M. (Melbourne)
This country-specific Q&A provides an overview of Life Sciences laws and regulations applicable in EU.
- Banking and finance
- Capital markets: Debt
- Commercial, corporate and M&A
- Dispute resolution
- EU and competition
- Industry focus: Healthcare and life sciences
- Intellectual property: Copyright
- Intellectual property: patents
- Private equity
- Projects and energy
- Public law
- Real estate and construction
Top Tier Firm Rankings
- Capital markets: Equity
- Environment
- Industry focus: TMT
- Insurance
- Intellectual property: Trade marks
- Restructuring and insolvency
- Tax
Firm Rankings
- Latin America: International firms > Corporate and M&A