Firms To Watch: Commercial, corporate and M&A

Costa Pinto demonstrates particular strength in the structuring of M&A transactions, related regulatory issues and corporate governance; led by José Costa Pinto, the practice acts for a varied client base across the banking, real estate, retail and IT sectors.
Founded in early 2021, boutique J+Legal is well positioned to advise buyers and sellers, private equity and venture capital clients on M&A opportunities; José Diogo Horta Osório and Jorge Brito Pereira, both of whom have a wealth of experience in transactional work across an array of sectors, jointly head up the team.

Firms in the Spotlight Commercial, corporate and M&A

Costa Pinto

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Costa Pinto is a boutique law firm strategically driven to Corporate and M&A tailor made legal services.

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Commercial, corporate and M&A in Portugal


Boasting a team of ‘expert negotiators', Cuatrecasas continues to be involved in standout M&A deals in the market. The team’s international exposure makes it well placed to handle cross-border transactions. Testament to this is its recent involvement in matters in several jurisdictions - such as Spain, Angola and Mozambique - across four continents. The team remains a popular choice for energy, infrastructure and private equity deals in Portugal, but also demonstrates strength in the IT, healthcare, medical cannabis and real estate sectors. Practice leader Mariana Norton Dos Reis has ‘extensive experience in M&A' and excels in private equity and investments in Iberia and Latin America. João Mattamouros Resende has ‘comprehensive knowledge of both Portuguese transactional matters and their intersection with US legal needs', while Francisco Santos Costa focuses on M&A in regulated sectors, including renewable energy.

Practice head(s):

Mariana Norton dos Reis

Other key lawyers:

Francisco Santos Costa; João Mattamouros Resende; João von Funcke; Francisco Martins Caetano; Telma Carvalho


‘Cuatrecasas has an Iberian team, managing to ensure high quality and efficient coordination of all team members in both markets and in the various branches of law. Also noteworthy is the high availability and involvement of the partners in the provision of services.’

‘Of particular note is the partner João Mattamouros Resende, who I would recommend due to the following characteristics: ability to find robust legal solutions, without unnecessarily complicating; quick thinking and flexibility to accept innovations; experience in business processes, managing to focus on essential aspects; availability and involvement in the process; efficient coordination and articulation of the internal team, having obtained contributions from the different branches of law, when necessary.’

‘The team at Cuatrecasas Portugal M&A division undertake a very rigorous and serious work, they provide excellent services and have an incredible knowledge of the market, the law and the necessities of the client. They are expert negotiators, always looking to reach an agreement with the other party, but keeping the best interests of the client in mind. They always look for a practical solution, and they are absolutely top and hard-workers. I would also highlight the perfect interaction with the client.’

‘Mariana Norton: she makes the difference through her ability to understand the necessities of the client, providing the best advice in each moment. Very strong capability in negotiations, and the proposal of solutions to the conflicts arisen during the deal. Telma Carvalho: very hard-worker, with a deep knowledge of contractual law. Very good understanding of the M&A process.’

‘I would like to highlight Mariana Norton dos Reis for her special commercial quality and approach to problems in a simple and pragmatic way. Her extensive experience in M&A should also be highlighted.’

‘Cuatrecasas was hired under the scope of assistance for an M&A contract. A lot of knowledge was demonstrated in the subjects discussed as well as explanation of details that can make a difference.’

‘Cuatrecasas manages their client contact very well. In our experience Francisco Martins Caetano is always available, well informed and proactively managing the process.’

‘Joao Mattamouros Resende is a strong, practical attorney with a comprehensive knowledge of both Portuguese transactional matters and their intersection with U.S. legal needs. Francisco Martins Caetano is an outstanding attorney in his own right and definitely a rising star.’

Key clients




CVC Capital Partners




















Degesch Service









Work highlights

  • Advised a French investor consortium on the purchase from EDP (Energias de Portugal) of a portfolio of hydro plants located in the Douro basin.
  • Advised Partners Group on the acquisition of a major equity stake in Rovensa from Bridgepoint.
  • Assisting CVC Strategic Opportunities in the acquisition of a stake in Sonae MC.


With a team of highly regarded lawyers and a sizeable global footprint, Linklaters is regularly sought out by an impressive roster of domestic and international corporations, financial institutions, international funds, private equity firms and alternative investment providers on large-cap transactions. Covering the full array of corporate and M&A work, the team is particularly active in private equity deals, joint ventures, corporate reorganisations, acquisitions and disposals in the real estate, energy, banking and transport sectors in Portugal and abroad, notably Mozambique and Angola. Marcos De Sousa Monteiro, who oversees the practice, routinely advises clients on the largest M&A transactions in the country. Diogo Plantier Santos has a special focus on the real estate sector and is a key contact for domestic and cross-border deals. At the non-partner level, Mariana Serra Baptista has a prominent role in corporate and M&A work.

Practice head(s):

Marcos de Sousa Monteiro

Other key lawyers:

Diogo Plantier Santos; Mariana Serra Baptista; Diogo Barros Pereira

Key clients

BNP Paribas Personal Finance


Luz Saúde (Fosun Group)



Cerberus Global Investments

ECS – Sociedade de Capital de Risco, S.A.

Glennmont Partners

CK Infrastructure Holdings Limited

Hanwha Energy Corporation

Morgan Stanley Infrastructure

Värde Partners Europe Limited

The Carlyle Group

Novo Banco, S.A.

Lincoln TopCo Pte Ltd.


Work highlights

  • Advising CK Infrastructure (CKI) and its group company Power Assets on the sale of Iberwind to Ventient Energy, a wholly owned subsidiary of JP Morgan’s Infrastructure Investment Fund.
  • Advising Glennmont Partners on the disposal of the Lucia portfolio (with a total capacity of approximately 30 MWp) to First State Investments (owned by Finerge).
  • Advising OQ on the sale, by its Dutch vehicle Mazoon BV, of its shareholding of 80,100,000 shares of REN – Redes Energeticas Nacionais to Pontegadea Inversiones.

Morais Leitão, Galvão Teles, Soares da Silva & Associados

Morais Leitão, Galvão Teles, Soares da Silva & Associados has long been at the forefront of Portugal’s M&A market, where it is well versed in high-profile and high-value deals. Over the course of the past 12 months, the team witnessed an uptick in transactions in the energy sector, where it advised some of the biggest players in market-leading deals. The breadth of its practice – covering key sectors such as banking, insurance, telecoms, pharmaceuticals, infrastructure and manufacturing – is matched by its size and geographical presence thanks to Morais Leitão Legal Circle, a network of associations and alliances with leading law firms in Portuguese-speaking countries across Africa. Co-head Tomás Vaz Pinto focuses on the intersection between private equity, M&A and capital markets, while fellow co-leader Ricardo Andrade Amaro brings a wealth of experience in securities and M&A in the energy sector. Eduardo Paulino is an ‘excellent‘ lawyer and a key contact for cross-border M&A and private equity matters. Also of note is the firm’s Team Genesis, a multidisciplinary legal service provided to emerging companies in the technology and life sciences industries; Luís Roquette Geraldes leads on this type of work. Carlos Osório de Castro is also noted.

Other key lawyers:

Eduardo Paulino; Luís Roquette Geraldes; Carlos Osório de Castro; Nuno Galvão Teles; João Alfredo Afonso; Margarida Torres Gama; Diana Ribeiro Duarte; Vítor Pereira das Neves; Jorge Simões Cortez


‘Deep knowledge of the matters, enormous quality of the work delivered. They take into account the company’s perspective to create more value and better decisions. They are super available and always deliver. They are resilient. They have a lot of experience and add immense value every time.’

‘In this area, I would highlight Jorge Simões Cortez and Eduardo Paulino, two absolutely outstanding people.’

‘Extensive legal and market knowledge essential for the success of the transaction.’

‘Ricardo Andrade Amaro stands out.’

‘Over the years MLGTS has managed to grow substantially while maintaining excellent quality across the board.’

‘Eduardo Paulino is an excellent, responsive and intelligent lawyer.’

‘Morais Leitão is clearly a leading firm in Portugal.’

‘Eduardo Paulino is a very good M&A lawyer with plenty of experience.’

Work highlights

  • Advisors to EDP – Energias de Portugal in the share capital increase with subscription amount of up to €1.02bn, through a public subscription offer.
  • Advised EDP and EDP Renováveis on a capital increase of around €1.5bn in EDP Renováveis by private offering, through the issue of 88,250,000 new shares in the company.
  • Assisting the Sonae Group in the context of the sale, by Sonae SGPS, S.A., of a 24.99% stake in the share capital of Sonae MC, SGPS, S.A. to Camoens Investments.


With some of the ‘top M&A lawyers in Portugal‘, PLMJ maintains a large market share for inbound and cross-border deals and is ‘involved in most high-value transactions in the country‘. The team has the capacity to simultaneously handle multiple large and complex M&A deals across a broad spectrum of sectors, including energy, real estate, insurance, pharmaceuticals, telecoms and banking. Non-transactional corporate mandates also feature on the team’s workload. The practice is under the leadership of two lawyers: Diogo Perestrelo excels in M&A and private equity in the energy, infrastructure and transport segments; and Duarte Schmidt Lino has a great reputation for venture capital deals, acquisitions and disposals, as well as corporate restructuring. Bárbara Godinho Correia regularly handles major mergers, privatisations and private equity deals, and Filipe Avides Moreira is particularly adept in outbound and foreign investments.

Practice head(s):

Diogo Perestrelo; Duarte Schmidt Lino

Other key lawyers:

Luís Sáragga Leal; Bárbara Godinho Correia; Filipe Avides Moreira; Rita Albuquerque


‘We were advised by Lisbon’s M&A team on an infrastructure transaction. Electronic collaboration during lockdown worked very well with optimal availability and timely delivery. As a foreign investor it was a perfect service to understand the country’s specificities and be represented well in the negotiation rounds.’

‘Bárbara Godinho Correia is very efficient and proactive. Result oriented.’

‘Top M&A lawyers in Portugal involved in most high-value transactions in the country.’

‘Ease of understanding with the client and counterparty.’

‘Filipe Avides Moreira is recommended.’

‘Very close interaction and contact with senior members of the team at PLMJ during the transaction from start to closing. Extremely diverse team with majority of members being women. Strong local market knowledge and networks, enable a smooth running of transactions with different stakeholders ranging from other advisors to local authorities. Legal team members are commercially astute, able to lead negotiations with other parties, fully protecting their client’s interest.’

‘The lead partners on the team, Bárbara Godinho Correia and Margarida Osório de Amorim have given an outstanding service, always proactively working hard to meet tight deadlines and manoeuvre complicated and sensitive situations with exceptional style. Both lawyers showed full dedication and worked perfectly together and with the client, taking a senior legal advisor role, always bringing their incredible experience to good use. Their ability to manage difficult situations in a smooth way, played a key role in delivering the success of the transaction.’

Key clients


Minor Hotels

Akzo Nobel Coatings




Ascendi Group

SCG Chemicals


Explorer Investments

Oxy Capital


Work highlights

  • Advising Akzo Nobel on the acquisition of paint manufacturer Titan.
  • Advised Blackstone-owned subsidiary Building Materials Europe on the acquisition of 50% of Maxmat by Sonae MC.
  • Advised Saur on the acquisition of the company Criar Vantagens – Águas e Resíduos (created in 2008 to manage Aquapor).

Uría Menéndez – Proença Carvalho

Highlighted for its ‘extensive local knowledge’, Uría Menéndez – Proença Carvalho often takes key roles on domestic and multi-jurisdictional transactions involving companies in various highly regulated sectors, including energy, media and telecoms. Real estate-related transactions are also a core area of activity for the sizeable team, and are a particular field of expertise for co-head Duarte Garin. Antonio Villacampa combines in-depth knowledge of M&A, corporate and financial law, while Francisco Brito e Abreu is skilled in private equity deals and corporate restructuring, demonstrating a keen focus on the pharmaceutical sector. Francisco Da Cunha Ferreira is a key contact for infrastructure-related matters; Catarina Tavares Loureiro possesses a strong track record in mergers and acquisitions of private and listed companies; and Joana Torres Ereio brings together experience in venture capital deals, commercial agreements and joint ventures. Carlos Costa Andrade, Pedro Ferreira Malaquias and Rita Xavier de Brito are also noted.

Practice head(s):

Duarte Garin; Antonio Villacampa; Francisco Brito e Abreu; Carlos Costa Andrade; Pedro Ferreira Malaquias; Francisco da Cunha Ferreira; Catarina Tavares Loureiro; Rita Xavier de Brito; Joana Torres Ereio

Other key lawyers:

Miguel Stokes; Miguel Rodrigues Leal


Extensive local knowledge.’

Very quick response for our questions and requests.’

‘Francisco Brito e Abreu leads the corporate team. All work exceptionally well together and are leaders in their respective fields.’

‘Francisco is a great team leader with sound commercial logic.’

Key clients

Altice NV

MEO – Serviços de Comunicações e Multimédia, S.A.

Coty, Inc.

Allianz Real Estate

Elo Mutual Pension Insurance Company

Kildare Partners

Curzon Advisers Limited

Cofina, SGPS, S.A.

Disa Corporación Petrolífera, S.A.

Nutreco Nederland, B.V.

Nuevo Ágora Centro de Estudios (Providence Equity Partners)

VIC Properties

Banco Santander Totta, S.A., Totta Urbe – Empresa de Administração e Construções, S.A.

DST Ambiente, SGPS, S.A.

Bridgepoint Capital Partners Fund VI (BPVI)

Aire Networks del Mediterráneo, S.L

Falcon Holdco S.à.r.l,

EDB Investments Pte Ltd

Catarina Cunha Vieira

Ontario Teachers’ Pension Plan Board

Ferrovial Servicios, S.A.

Work highlights

  • Advising Disa Corporación Petrolífera on the acquisition of the shares representing 100% of the share capital of Prio SGPS.
  • Advising Ontario Teachers’ Pension Plans Board on the acquisition of a stake of approximately 60% of Logoplaste Group from Carlyle.
  • Assisting Kildare Partners/ Curzon Advisers on the sale of the shares representing 100% of the share capital of Lagoas Park.


With one of the country’s leading M&A groups, VdA is recommended for its ‘view of the market and knowledge of industries‘. The firm continues to be instructed in market-leading transactions, acting for a mix of buyers and sellers, and national and international companies. In addition to big-ticket deals, the team has been particularly active in transactions involving highly regulated sectors – like infrastructure, education, telecoms, energy and real estate – with an increasingly relevant private equity component. Multi-jurisdictional corporate reorganisations also feature heavily on the firm’s portfolio. The team is under the joint leadership of Jorge Bleck, who specialises in M&A, private equity, privatisations and joint ventures, and Paulo Olavo Cunha, a go-to lawyer for corporate matters in Portugal, who leads the governance practice. Cláudia da Cruz Almeida stands out for her thorough knowledge of energy and banking law; she is noted for her extensive experience in corporate acquisitions and disposals, private equity transactions and public takeovers. Helena Vaz Pinto is another name to note for private equity and venture capital deals, while Paulo Trindade Costa focuses on cross-border transactions with ties to Portuguese-speaking countries in Africa. With a strong international background, Sofia Bobone takes a leading role on a number of corporate and M&A matters. Maria Cunha Matos made partner in January 2022. Francisco Sá Carneiro recently joined from CS’Associados in January 2022; he brings a wealth of experience in domestic and cross-border transactions involving financial institutions.

Practice head(s):

Jorge Bleck; Paulo Olavo Cunha

Other key lawyers:

João Vieira de Almeida; Cláudia Cruz Almeida; Helena Vaz Pinto; Paulo Trindade Costa; António Mendes de Almeida; Sofia Bobone; Maria Cunha Matos; Francisco Sá Carneiro



‘Involvement in all the details of the deal, proactive solutions to challenges, high technical quality and innovative tools to support the development of work.’

‘Antonio Mendes de Almeida and Helena Vaz Pinto stand out.’

‘Excellent law-firm with extraordinary service delivery in a timely manner.’

‘Maria Cunha Matos is excellent.’

Excellent professionals, and even better people. Deep market knowledge; very close relationship with their clients. Full availability when needed.’

‘Strong client relationship, excellent view of market and knowledge of industries. The firm ensures involvement of all departments needed (good cross-selling) and ensures a full package deal for the client.’

‘Paulo Trindade Costa and António Mendes de Almeida are very client oriented and ensure quick feed-back to all questions raised. Availability is a plus. Excellent knowledge of the law, maintaining flexibility in solutions oriented to client needs.’

Key clients

José de Mello Capital, S.A.


Portuguese State

Parpública – Participações Públicas (SGPS), S.A.

Schwarz Group (PreZero International)

Cellnex Telecom, S.A.

Greenvolt – Energias Renováveis, S.A.

China Communications Construction Co. Ltd (CCCC)


Finerge S.A.

First Sentier Investments

Finerge Group


Horizon Equity Partners, S.A.

Mapfre Seguros Gerais, S.A.

Mapfre Seguros de Vida, S.A.

Inspired Group

ALGORA, – Sustainable Investments SGPS, SA

Emerald Europe, Lda.

Stirling Square Capital Partners Second Fund


Work highlights

  • Advised the José de Mello Group on the joint sale of two blocks of shares representing a total of 81.1% of Brisa’s voting rights.
  • Advised the Portuguese State and Parpública – Participações Públicas in the context of a state aid rescue loan of up to €1.2bn to the Portuguese flagship airline, TAP.
  • Assisted Schwarz Group (PreZero International) on the acquisition of Ferrovial’s Environmental Services business in Spain and Portugal for €1,13 Bn.

Abreu Advogados

Highlighted for its ‘extensive knowledge of M&A and corporate matters' and ‘great negotiation skills', Abreu Advogados' team balances a busy workload of M&A, private equity and corporate governance, demonstrating particular strength in real estate and cross-border deals involving Portuguese-speaking countries. Ana Sofia Batista has significant experience in acting for domestic and international clients in M&A and private equity deals, and is a key contact for transactions with ties to Mozambique. She coordinates the department alongside José Maria Corrêa De Sampaio, who is a name to note for matters involving the banking and insurance sectors, and Manuel Santos Vítor, who is noted for his ‘competence and knowledge' of strategic M&A, corporate restructurings and governance issues across energy, retail and agribusiness. Big-ticket mandates involving real estate assets are a core area of focus for António Pina.

Practice head(s):

Ana Sofia Batista; José Maria Corrêa de Sampaio; Manuel Santos Vítor

Other key lawyers:

António Pina; Teresa Anselmo Vaz; Cláudia Santos Malaquias


‘The team is fully committed to the success of the project and know how to perfectly balance risks versus focus on the closing of the deal.’

‘The general level of service is excellent as they have a team that shows: good in-depth knowledge and understanding of the legal framework; high technical competence; professionalism; great negotiation skills and a particular ability to reach consensus solutions.’

‘Without a doubt, we will continue to count on Abreu for future transactions in Real Estate and Corporate/M&A. In addition to their extensive knowledge in M&A/Corporate matters, they know the real estate sector very well and have a vision that goes beyond the pure legal point (commercial, business), which, without a doubt, helps a lot in this type of transactions. They have handled very complex situations with great ease and are always available and anticipate the needs of their clients.’

‘António Pina continues to impress me everytime. His capacity and knowledge of the M&A/Corporate, Real Estate, Finance and the market (national and international) is immense. He is able to redirect and carry out (with excellent results) operations and deals that seem to be lost, he is very active and commercial, always betting on the successful end of the transaction. He has great knowledge of different M&A transactions and a lot of experience, his availability is absolute and he often makes simple what at first glance seems impossible or very complicated. Without a doubt, he is my lawyer of reference in the M&A/Corporate sector.

‘The firm has always been very professional, diligent and available to us. One of the best attributes of the firm is the critical thinking of its lawyers in relation to the matters at hand. Always looking for the optimal scenarios where not only the client’s interests are pursued but also the overall best interest.’

‘The experience and professionalism of the lawyers, the accessibility and availability to clarify and resolve the various issues in question make them stand out.’

‘They were always to-the-point and problem-solving-oriented. Always reachable, available for discussions.’

‘Manuel Santos Vítor is our main contact at the firm. He’s someone I’ve worked with for about 20 years, having established a relationship of great trust with him, due to the competence and knowledge he has.’

Key clients

Africatel Holdings

DCC Investors


Sublime Group

The Walt Disney Company


Caixa Geral de Depósitos


Chint Solar

Matériels Industriels de Sécurités – Matisec


JLL Group

Greenyard Fresh NV

Seguradoras Unidas


De Heus



Lidl & Companhia

Grupo Repsol


Banco Português de Fomento

Work highlights

  • Assisted EFACEC in connection with the nationalisation of a controlling stake in the group by the Portuguese state.
  • Advised a group of private shareholders on the sale of a majority stake in Sirplaste to SCG Chemicals.
  • Assisted the private shareholders of Sublime Group in the disposal of 50% of Sublime Stay and its asset Sublime Comporta Hotel to Laje Capital.


Highly rated in the market’, the corporate and M&A team at CMS is a solid choice for international and domestic investors across a wide range of sectors, including transport, manufacturing, energy and distribution. The team – which had a particularly strong year in 2021 in energy and real estate-related transactions – also has a loyal following of private equity players with an active role in high-value inbound deals. Drawing on the firm’s global footprint, the Lisbon-based team regularly advises on cross-border mandates. Francisco Xavier de Almeida is noted for regularly acting in strategic M&A on behalf of an impressive client roster made up of multinationals, financial institutions and state-owned companies. He jointly heads the team with João Caldeira, whose experience covers corporate restructurings, M&A, joint ventures and corporate finance.

Other key lawyers:

Margarida Vila Franca; Fernando Cruz Trinca; Alberto Galhardo Simões; Tiago Valente de Oliveira


‘I’ve done numerous transactions with the firm and they’ve all been impeccable. I must emphasise the permanent availability of Tiago Valente de Oliveira and his team.’

Professionalism, dedication, requirement, rigour and friendliness.’

‘I must highlight Tiago Valente de Oliveira and his team (André Guimarães). Tiago Valente de Oliveira is a lawyer with excellent technical skills, with deep knowledge of the national and international corporate market that goes far beyond legal knowledge. Tiago tackles all potential problems with solutions and, very importantly, he is always available 24/7. Tiago lives the business of his clients as his own and this gives great security and confidence to the client. He always manages to make legal language simple.’

‘Monitoring and active involvement of the various departments necessary for the transaction process. Strong technical qualities of the teams involved.’

‘Tiago Valente de Oliveira: Solid technical knowledge and great negotiating skills to find constructive solutions for all parties involved. Strong work ethic.’

‘The firm is highly rated in the market, with a good quality / price balance. The team is very available, very well qualified and very quick to respond. A team that tries to adapt to the latest innovations, namely in terms of contract drafts presented.’

‘João Caldeira – a partner with a lot of availability, a lot of experience and a lot of versatility in the solutions presented. Margarida Vila Franca – a partner who has great professionalism and enormous perfectionism in presenting her work to the client. She is also versatile and clear. Tiago Valente de Oliveira – an associate who is very available to the client, presents thoughtful and functional solutions. He has very good negotiating skills, being very versatile in his way of thinking and negotiating.’

‘Francisco Xavier de Almeida has worked with us for a long time, always with excellent results. He is focused on closing deals, proactively supporting both the structuring of transactions and the negotiation phase, always offering sophisticated and constructive advice. We feel that he is a true partner of our team and together we achieved great results.’

Key clients

Vinci Energies, S.A.

Aquila Capital

Lightsource BP

Davidson Kempner

Healthcare Activos

Estoril Capital Partners

Crest Capital Partners

MEO – Serviços de Comunicações e Multimédia, S.A.

Liberty Mutual Insurance Europe SE

Grupo Cardoso


Mercedes-Benz Financial Services Portugal

Keller Williams (Portugal)

Generis (Grupo Aurobindo)

Satepor – Indústria De Travessas De Betão

Arish Capital Partners


A diverse corporate client base comprising heavyweights from the financial, infrastructure, real estate, energy, pharmaceutical and industrial sectors, turns to DLA Piper ABBC for legal support in the context of big-ticket M&A. The firm is a popular destination for international corporations, private equity funds and financial institutions given its global presence, which facilitates the running of multi-jurisdictional transactions. Nuno Azevedo Neves has a strong background in privatisations and is often instructed in transactions in the financial services sector. Private equity and venture capital deals are among João Costa Quinta's fields of specialist knowledge, while Gonçalo Castro Ribeiro excels in cross-border deals and financial regulatory issues.

Practice head(s):

Nuno Azevedo Neves; João Costa Quinta; Gonçalo Castro Ribeiro

Other key lawyers:

Rita Costa Carvalho; Nuno Castelo Branco


‘Our experience with DLA Piper ABBC has been extraordinary to the point that in recent years we have not felt the need to turn to other law firms.’

‘Nuno Azevedo Neves is at the highest level of competence in his area.’

‘Great availability, permanent interaction with the client, competence in the services provided and efficiency in execution.’

‘João Costa Quinta is recommended for his enormous competence, permanent availability, and strategic thinking.’

‘DLA Piper’s team in Portugal is result-oriented and capable of providing tailor-made solutions. The fact that it is an international firm with offices all over the world helps a lot when dealing with a multi-jurisdictional transaction.’

‘They are very committed to the projects and treat them as their own. Nuno Azevedo Neves and Nuno Castelo Branco stand out.’


With a strong presence in both Lisbon and Porto, Garrigues is sought by Portuguese and international clients across a range of industries in high-value, and oftentimes cross-border, M&A. Its recent workload demonstrates the team’s capabilities in handling major transactions in the IT, industrial and agribusiness sectors. Private equity deals and insurance-related mandates are other areas of specialism. Diogo Leónidas Rocha has a strong M&A track record in the telecoms and banking sectors, while Mário Lino Dias is highly regarded for his thorough knowledge of the private equity market. Tomás Pessanha and Manuel Liberal Jerónimo, both of whom are seasoned in cross-border mandates, are the key contacts in the Porto office. Susana Pimenta De Sousa and Marta Graça Rodrigues are also noted for their corporate law expertise and transactional experience.

Practice head(s):

Diogo Leónidas Rocha; Mário Lino Dias; Susana Pimenta de Sousa; Marta da Graça Rodrigues; Tomás Pessanha

Other key lawyers:

Pedro Lemos Carvalho; Manuel Liberal Jerónimo


Excellent availability. Capacity to view situations from a practical perspective.’

‘Our relationship with the Garrigues’ Porto office is based on the trust placed in Tomás Pessanha.’

‘Tomás Pessanha is a lawyer of excellence, with a deep knowledge of the client’s needs and always focused on finding legal solutions to their problems.’

‘The general level of service is excellent as they have a team that shows: good in-depth knowledge and understanding of the legal framework; high technical competence; professionalism; great negotiation skills and a particular ability to reach consensus solutions, placing the client’s interest at the centre of the analysis and resolution of each problem; an integrated vision and analysis of themes, covering the various specialties of law; the team is always available and able to give their opinion and work within demanding deadlines.’

‘We’ve been working with this team for a long time. Multidisciplinary team and excellent service.’

‘The team is always absolutely up-to-date on the regulators’ policies that allow for greater adherence to reality and, as such, an absolute adaptation of what we want to what the regulators also want.’

‘Mário Lino Dias – lawyer with unparalleled experience and a practical sense that easily solves any road blocks that may exist along the way. His creativity in the search for solutions and consensus undoubtedly helps.’

Key clients

Amorim Energia BV

Banco Santander

Corticeira Amorim

Delta Cafés

Crest Capital Partners

GNB Vida

Gama Life (Apax)


MCH Private Equity


RSR Singular Assets SOCIMI

Mercan Capital

Audax Renovables

Aegide Domitys

Blue Torch Finance


Hikma Pharmaceuticals



Frezite Group


Quirón Prevención SLU


Correios de Portugal



Vifor Pharma

Vallis Capital Partners

Work highlights

  • Advising Feedzai on a $200m investment round led by KKR.
  • Assisting with the reorganisation of the Amorim Family controlling stake in Corticeira Amorim, and inter alia sale of part of the stake.
  • Advising Santander Totta Seguros on the sale of a majority stake in Popular Seguros to Mapfre, and the formation of a joint venture in the Portuguese non-life insurance market.

Gómez-Acebo & Pombo

Highlighted for its ‘outstanding technical knowledge and legal rigour', Gómez-Acebo & Pombo has established a good reputation for M&A in the market in Portugal, with a keen focus on the technology, real estate, energy and life sciences sectors. Private equity deals are a particular specialism, with the firm counting a number of private equity houses, international funds and international investors among its clients. On the non-transactional side, the practice is also active advising longstanding clients on an ongoing basis in relation to corporate and commercial issues. ‘Exceptionally commercial partner' Mafalda Barreto is well versed in cross-border M&A involving regulated sectors. Corporate and commercial law matters are some of Miguel de Avillez Pereira's areas of expertise; he is the name to note for mandates related to Angola and Mozambique. Susana Morgado also receives praise.

Practice head(s):

Mafalda Barreto; Miguel de Avillez Pereira

Other key lawyers:

Susana Morgado; Luísa Carrilho da Graça


‘GAP Portugal is a firm with great technical quality, extreme rigour, an exceptional network and exquisite client service.’

‘Luísa Carrilho da Graça – ability to negotiate at all levels, solve technical issues and is  always available. Mafalda Barreto – exceptionally commercial partner,  good management skills and extensive experience.’

‘Flexible approach, great collaboration and knowledge of client/sector.’

‘Excellent approach to client needs, either in day-to-day advisory services and exceptional attendance to more specific requirements where expertise is a must. Susana Morgado is very efficient and coordinates any needs we may have in all matters in Portugal and also with the Spanish team. Susana is a highly trustworthy corporate lawyer.’

‘Outstanding technical knowledge and legal rigour. Availability and commitment to their clients and their legal affairs. Practical sense of advice to reach agreements, always defending the main interests of its clients.’

Key clients


Sixth Street

Promotora de Informaciones, S.A. (Prisa)


Ergon Capital Partners IV

Sage Automotive Interiors Inc.

Esprinet Ibérica

MiddleGround Capital

Kronos Investment Group

Work highlights

  • Advised Sovos on the acquisition of PetaPilot and Saphety.
  • Assisted Sixth Street in the acquisition of 15 buildings within the Quinta da Fonte Office Park (QDF).
  • Advised Prisa on the agreement to sell 64.47 % of Media Capital.

SLCM | Serra Lopes, Cortes Martins & Associados

SLCM | Serra Lopes, Cortes Martins & Associados ‘possesses a strong knowledge of the law and the Portuguese market' and is adept at assisting clients throughout the entire lifecycle of corporate transactions. The firm - which celebrated its 60th anniversary in 2021 - has remained busy acting for buyers and sellers in significant M&A, private equity deals, corporate restructurings and joint ventures in the energy, retail, financial services, real estate, agribusiness and healthcare sectors. ‘Excellent lawyer' Luis Miguel Cortes Martins has a strong background in cross-border M&A and privatisation. He chairs the department with Rafael Lucas Pires and Martim Anahory, the latter of whom has comprehensive ‘knowledge of the practical aspects associated with transactions'.

Practice head(s):

Luis Miguel Cortes Martins; Rafael Lucas Pires; Martim Anahory

Other key lawyers:

Alexandra Martins


‘SLCM clearly possesses a strong knowledge of the law and the Portuguese market.’

‘Luis Miguel Cortes Martins is an excellent lawyer.’

‘The SLCM team stands out for its integrity, quality and rigour. Legal solutions that are well adapted to the client’s needs, well structured and innovative. Collaborative and constructive attitude.’

‘Luís Cortes Martins, Rafael Lucas Pires and Alexandra Martins are excellent.’

‘I have an excellent impression of the team led by partner Martim Anahory. I would like to emphasise the excellent relationship and permanent availability of SLCM colleagues.’

‘Martim Anahory – Excellent relationship with other colleagues and knowledge of the practical aspects associated with the transaction.’

Key clients

Sociedade Central de Cervejas (Heineken Group)




Banco Comercial Português, S.A.

China Three Gorges

Grupo José de Mello

José de Mello Saúde


Havi Group


Zaphira Capital


Grupo JAP

Label Investments


Assa Abloy

Rising Capital

Work highlights

  • Assisted JAP Group in the acquisition of Entreposto Group, a major automotive group in Portugal, Mozambique and East Timor.
  • Advised Rising Capital on the sale of all stakes and assets relating to to Entain group.
  • Advised Nutriveste throughout the process for the splitting of the Elaia Group between its shareholders Nutrinveste and Atitlan.

SRS Legal

SRS Legalcombines a deep knowledge of the law, extensive experience and the ability to develop personal relationships and trust with its clients’. The corporate, commercial and M&A team handles a mix of transactional and non-transactional work, with experience across a range of sectors, including energy and TMT. Advising buyers and sellers on technology-related M&A transactions is a strong point for the department, which houses a team specialised in start-up businesses and a separate group focused on private equity and venture capital investments. Names to note for the latter include Gustavo Ordonhas Oliveira and Paulo Bandeira. Alexandra Valente also demonstrates a wealth of experience in cross-border private equity deals. Octávio Castelo Paulo, who routinely acts for Portuguese and international companies from the energy and TMT sectors, and Gabriela Rodrigues Martins, who maintains a broad practice in corporate law, M&A, private equity and contractual issues, jointly head up the department.

Practice head(s):

Octávio Castelo Paulo; Gabriela Rodrigues Martins

Other key lawyers:

Gustavo Ordonhas Oliveira; Alexandra Valente; Paulo Bandeira; Dulce Franco; Anabela Gonçalves Ferreira; Marco Silva Garrinhas


‘SRS combines a deep knowledge of the law, extensive experience and the ability to develop personal relationships and trust with its clients, cemented by the way in which the firm successfully solves complex legal problems.’

‘Gustavo Ordonhas Oliveira has vast legal expertise that translates into a practical way for solving concrete business problems, high capacity for developing interpersonal relationships and generating trust, high service levels and availability. Marco Silva Garrinhas has deep legal knowledge and high availability to solve client problems.’

‘A huge dedication to the client. Original ideas and experience to solve issues.’

‘Availability, commitment to the client even when dealing with ambitious topics and timelines – always trying to do the best and often what seems impossible becomes possible. Helpfulness of the team and multidisciplinarity.’

‘Paulo Bandeira is simply amazing and he is the lawyer I recommend. The whole team is very helpful too.’

‘Excellent team. We use it recurrently in M&A. Multidisciplinary, availability, high time responsiveness.’

‘Very cooperative and professional lawyers’

‘The SRS law firm provides us with transparent legal advice. They have a great ability to understand the particularities of our company. It always takes a holistic approach to situations, which makes its conclusions more valid and of greater value. Permanent availability is also a factor worth mentioning.’

Key clients

ActiveCap Capital Partners

Volkswagen Autoeuropa


BBDO Portugal (Omnicom Group)



360 imprimir

Cedrus Atlantica

Dekra Group

ECS Capital


Grupo Amorim

Grupo Hermes

Iberis Capital

Índico Capital Partners

J.P. Sá Couto, S.A.

Oxy Capital



Respol – Resinas, S.A.

Rubis Energia Portugal

Core Capital

Dia Portugal

Work highlights

  • Advised Cellnex on the acquisition of OMTEL (Portuguese telecom tower company) from Morgan Stanley Infrastructure Partners and Altice Group.
  • Advising Parpública and the Portuguese government on the privatisation of Efacec.
  • Advising Finançor, as purchaser, on the acquisition of a retail group in the Azores islands.

Caiado Guerreiro

Jointly led by João Caiado Guerreiro and Ricardo Rodrigues Lopes, Caiado Guerreiro's corporate and M&A team handles a mix of acquisitions and disposals, mergers and joint ventures in a range of sectors, including chemicals, energy, telecoms, media and construction. Additionally, its practitioners provide assistance to core clients in an array of corporate law, regulatory and compliance matters. Co-head Rodrigues Lopes has noteworthy experience in cross-border transactions, corporate restructuring and contractual issues.

Practice head(s):

João Caiado Guerreiro; Ricardo Rodrigues Lopes

Other key lawyers:

Jorge Ribeiro Mendonça


‘Proactivity and courtesy, high level of skills.’

‘Knowledgeable, responsive, super efficient and proactive. Exactly the overseas counsel you want.’

‘Ricardo Rodrigues Lopes – always on top of the issues and deadlines. Inspires absolute confidence with a clear and concise, to the point style.’

Key clients

Inventum Beheer, B.V.

CDK Global Portugal


Tendam Group



Eni gas e Luce

Poke House

Work highlights

  • Assisted Olympus in the merger of its Portuguese subsidiaries, in the context of the implementation of a new repair centre located in Portugal.
  • Provided legal advice to Poke House Italia on the merger with Portuguese food chain Poke House Portugal.
  • Advised on a credit facility granted by Goldman Sachs International in the amount of €150m.

Eversheds Sutherland FCB

The result of the merger between Eversheds Sutherland (International) LLP and FCB Advogados, Eversheds Sutherland FCB demonstrates strength across acquisitions, divestments, mergers, corporate restructurings as well as all types of corporate and contractual agreements. The firm’s full-service offering is another advantage in M&A, allowing it to cover related corporate finance and competition matters. Rodrigo Almeida Dias stands out for his track record in real estate and private equity transactions. Pedro Guimarães often receives instruction from technology and energy clients in cross-border M&A and corporate restructuring.

Practice head(s):

Rodrigo Almeida Dias; Pedro Guimarães

Other key lawyers:

João Osorio de Castro

Key clients

Generali Real Estate

Bekinsa Senvion GmbH

Keylane BV

L’Innominato Portugal


TechnipFMC PLC

Eutelsat Communications SA


Owens & Minor


Shareholders of Entreposto – Gestão e Participações (SGPS), S.A.,

MEO Energia

RRP Advogados

RRP Advogados fields a solid corporate and M&A practice, which is well regarded by peers and clients alike and is highlighted for its ‘extensive knowledge of M&A processes'. The young team has managed to establish a strong reputation in the market since its incorporation in 2016, standing out for its proven track record in complex mid-market transactions and private equity deals. Corporate reorganisation is also an area of focus for the department, which is led by the ‘excellent' Rodrigo Falcão Nogueira, a key contact for clients from the finance, insurance, energy, pharmaceutical, industrial and IT sectors. Hélder Santos Correia has advised clients on a number of domestic and cross-border transactions, with a particular focus on the real estate sector.

Practice head(s):

Rodrigo Falcão Nogueira

Other key lawyers:

Manuel Cordeiro Ferreira; Hélder Santos Correia; João Ornelas Camacho


‘I have already worked with other companies, and also had other companies on the “opposite” side of the transaction, but RRP and, in particular, Rodrigo Nogueira’s team have been the best experiences.’

‘Rodrigo Nogueira and Hélder Santos Correia are excellent.’

‘Extremely available team with extensive knowledge of M&A processes. Showed a remarkable ability to adapt to a very specific business area, which enabled them to very quickly respond to the requirements of the process itself and clarify any doubts.’

‘The team delivers results quickly and is very professional and knowledgeable.’

Key clients

Groupe Legendre

NovEnergia Group

Gigas Holding

Miya Water Group

Mitiska REIM

B. Braun

TVH Parts

Plenium Partners

Hospital Internacional dos Açores

Aquinos Group

Administradora de Archivos (Formentor Capital fund)

Tapeçarias Ferreira de Sá


The Data Scientists (Jonathan Tooley & Associados)

Work highlights

  • Advised Gigas Holding on the legal and labour due diligence to ONI Telecom and other affiliates and also throughout the implementation of the transaction with MásMóvil and GAEA Inversión.
  • Assisted Diagonalstream, the controlling shareholder of HIA – Hospital Internacional dos Açores, in the sale of a minority shareholding.
  • Provided legal assistance to private clients in the sale of Almouroltec (PTisp) to Dominios, a company held by

Sérvulo & Associados

The ‘multidisciplinary team' at Sérvulo & Associados provides legal support to private and public sector clients across the full spectrum of M&A and corporate and commercial matters. Besides assisting international groups in their inbound investments and commercial contracts in Portugal, the team is also well positioned to handle cross-border restructurings and M&A deals, particularly in the healthcare, energy and infrastructure sectors. Department head Sofia Carreiro has notable strength in joint ventures and commercial contracts. The practice was reinforced by the arrival of Pedro Silveira Borges from SLCM | Serra Lopes, Cortes Martins & Associados, who has a wealth of experience in M&A transactions especially in the energy and healthcare sectors.

Practice head(s):

Sofia Carreiro

Other key lawyers:

Pedro Silveira Borges


‘Flexible approach and constructive collaboration.’

‘Sofia Carreiro showed, on a continuous basis full availability and proactiveness to solve and also anticipate issues. Her support has been precious to identify solutions.’

‘Technically the team is very good.’

‘Multidisciplinary team, professional people, and client-oriented attention.’

‘A well-known law firm in Portugal, serious, professional, organised, well-prepared, reliable, always available and ready to help. We would not exchange Sérvulo for any other firm.’

Key clients

Antin Infrastructure Partners

Regional Government of Madeira

EDP – Soluções Comerciais, S.A.


NephroCare Portugal, S.A. (Fresenius Medical Group)

Cifial Group

Work highlights

  • Acting for Antin Infrastructure Partners in the signing of an agreement with Bridgepoint (the seller) to acquire a majority stake in Miya Group.
  • Advised the Regional Government of Madeira in the negotiations regarding the acquisition of the shareholdings held by the private investors in SDM.
  • Advised EDP – Soluções Comerciais on a demerger-merger operation through which EDP SC was extinguished and its assets divided and transferred to several companies of the EDP Group.


The ‘highly professional team' at TELLES is ‘technically well prepared' and possesses ‘vast transactional experience'. With a multidisciplinary approach bringing together expertise in tax, competition, finance, real estate and labour, the practice is well versed across the gamut of transactional work and attracts instructions from multinational corporations, venture capital firms, private equity houses and domestic clients across the insurance, industrial, healthcare, telecoms, infrastructure and construction sectors. The team is jointly led by Carlos Lucena, who has a strong track record in major M&A deals involving the northern region of Portugal, and Francisco Espregueira Mendes, who has combined knowledge of corporate, commercial and competition issues.

Practice head(s):

Carlos Lucena; Francisco Espregueira Mendes

Other key lawyers:

Bruno Azevedo Rodrigues; Miguel Carvalho; Cristina Ferreira; Mariana Ferreira Martins; Mariana Vilaça Fernandes; Diogo Damião


‘Hands-on team, very flexible in an unusual M&A environment, high availability and solutions-driven to make the acquisition happen.’

‘Multidisciplinary team with great experience, dynamic and proactive.’

We have worked with Diogo Damião and we were very happy with his work. Very detailed and quality-oriented, available 24/7. Not only is he available, but also very attentive, careful, detailed and result-oriented.’

‘Highly professional team, that is technically well prepared, with vast transactional experience, and above all available to the client, at any time.’

‘Although a large part of the process was done online, the rapport that was created between both work teams was notorious, making clear Telles’ genuine concern for everyone involved. The two prominent figures in this process are Francisco Espregueira Mendes and Diogo Damião.’

‘Diogo Damião has an extraordinary capacity for work and a tireless focus on the strict defence of his client’s rights. He helped us to clearly see the weaknesses of our contract and led the conversation to close the door to the possibility of future hardships as much as possible.’

‘Francisco Espregueira Mendes: the accumulated experience he puts at the service of the process and his team, with an unparalleled pragmatism, fully knowing which battles we have to fight and which others we can give in favour of the other party.’

‘Ability to execute and a vision oriented towards solving problems and leading to the conclusion of deals.’

Key clients























































Work highlights

  • Advised METALOGALVA on the acquisition of the lighting division of the Europoles Group in Germany, Poland and France.
  • Advised PLURIS INVESTMENTS on the direct acquisition of 30% of Media Capital from the Spanish group PRISA, and in the public offering for the acquisition of the remaining share capital.
  • Assisted VALLIS CAPITAL PARTNERS in the sale of IMPERIAL, the largest Portuguese chocolate producer, to Spain-based Chocolates Valor.

Albuquerque & Almeida

Albuquerque & Almeida offers assistance to Portuguese businesses, international buyers, private equity clients and investment banks in M&A transactions, commercial and corporate matters. The practice is praised by clients for its ‘ability to always find solutions of an international rather than national nature'. António Mendonça Raimundo specialises in M&A and international contracts in the telecoms, insurance, hospitality and pharmaceutical sectors. He oversees the department with Paulo De Almeida and André Matias, the latter of whom practices in the fields of private equity, venture capital and technology-related transactions.

Practice head(s):

António Mendonça Raimundo; Paulo de Almeida; André Matias de Almeida

Other key lawyers:

Pedro Sousa Gonçalves


‘Fast reply, professionalism and flexibility. Antonio Mendonça Raimundo is recommended.’

‘The ability to always find solutions of an international rather than national nature makes them unique compared to others who only have Iberian capacity. The main lawyers we worked with are André Matias de Almeida and Pedro Sousa Gonçalves, who we classify as lawyers with an international view of business and not just a legal one.’

‘António Mendonça Raimundo- good technical knowledge, practical approach based on experience and good knowledge of the country, the market and clients. Excellent response times.’

‘Exemplary and impeccable service in the quality of legal support’

‘I’d highlight André Matias de Almeida for his availability and quality in general.’

‘High availability, swift execution, excellent knowledge of Portuguese legal framework, excellent fluency in English and in French.’

‘António Mendonça Raimundo is an excellent professional. He is always available to clarify doubts and texts on the matters we need. He is a great professional standing out for his knowledge, advice and experience and his permanent availability.’

Key clients

Crest Capital Partners

C2 Capital Partners



Indie Holdings S.A.

Transportes Paulo Duarte


Massimo Zanetti Beverage Group

Factory Licensing GmbH

Global Fire Equipment


Johnson Wax Group

Hospital Cruz Vermelha

ABB – Asea Brown Boveri

Hitachi ABB


CMVM (Portuguese Stock Market Regulator)

Chubb (United Technologies Group)

Carrier (United Technologies Group)

Estee Lauder

Under Armour Inc.



CCA Law Firm

The ‘highly skilled and expert team' at CCA Law Firm is equipped to advise on sales and acquisitions, as well as corporate reorganisations. Its sectorial expertise cuts across tourism, e-commerce, insurance, real estate, renewable energy and fintech, but it is particularly highlighted for its ‘strong know-how and track record in the tech and venture capital space’. Besides undertaking VC, corporate and M&A-related work, the department is also frequently instructed by private equity and investments funds engaged in transactions. Domingos Cruz is a name to note for the aforementioned areas. Practice head Sara Reis excels in mergers, asset deals and foreign investment.

Practice head(s):

Sara Reis

Other key lawyers:

Domingos Cruz; Pedro Simões de Oliveira


‘Young, dynamic, knowledgeable, flexible, practical.’

‘Sara Reis – very experienced but also very practical.’

‘Highly skilled and expert team, great availability, easy to speak with in different channels. Strong know-how and track record on the Tech/VC space.’

‘Domingos Cruz has extensive knowledge of the Corporate and VC space, is always available. He has a good sense of priorities. Pedro Oliveira showed sense of urgency, capacity to execute and take the lead in a matter.’

Key clients

Procter & Gamble



Havas Group









Fattal Group

Issta Assets Ltd

Tayan Energy


St. Peters International School




IGNAE Cosmetics


Petro Rio




Taken Seat

Biocol Labs



Iberica Partners





Work highlights

  • Advised Dan Cake’s shareholders on the sale of the company to Biscuit International Group.
  • Assisted Invillia in the negotiation of its sale to Grupo Compasso UOL.
  • Assisted Barkyn in an €8m investment round.

CTSU - Sociedade de Advogados, S.P., R.L., S.A.

Mid-market transactions, including those with cross-border elements, are the focus of the corporate department at CTSU – Sociedade de Advogados, S.P., R.L., S.A. Its varied client base also retains the firm - which is integrated in the Deloitte Legal network - in matters pertaining to corporate reorganisations, shareholder agreements and commercial contracts. Mónica Moreira ‘is a lawyer of excellence with experience and in-depth knowledge’ of mergers, sales, acquisitions and corporate restructurings. She manages the team with Sofia Barros Carvalhosa, who stands out for her cross-border capabilities and expertise in corporate governance, start-ups and direct foreign investment in Portugal.

Practice head(s):

Mónica Moreira; Sofia Carvalhosa

Other key lawyers:

Duarte Ribeiro Telles; Ana Cruz da Fonseca


CTSU brings together a group of excellent professionals in the most diverse areas. They work with a total focus on the client, with the involvement of experienced partners and lawyers, great efficiency, presenting innovative solutions. The fact that CTSU is part of the Deloitte Legal network is also reflected in the firm’s culture and in the way of working and delivering, with great rigour, objectivity and a focus on solutions.’

‘Mónica Moreira is a lawyer of excellence with experience, in-depth knowledge of the issues, technical quality, focus on solutions and the ability to build innovative solutions, always with great solidity. She manages a fantastic team and builds trusting and long-lasting relationships. In the same team, Duarte Ribeiro Telles is distinguished by the rigour and security he brings to all matters and by his excellent negotiating skills. Ana Cruz da Fonseca is clearly a rising star, with excellent technical quality, availability and professionalism.’

‘Extremely competent team and asks to respond to client requests, always seeking to offer the best possible solution to the situation under analysis.’

‘Sofia Carvalhosa: availability, concern for detail, legal capacity.’

‘Duarte Ribeiro Telles is distinguished by an above-average attention to detail and work capacity.’

‘Mónica Mayer Moreira: competence, rigour, focus on finding solutions and excellent relationship with all interlocutors.’

‘Our involvement with CTSU – Sociedade de Advogados, RL, SA is based on the partnership we established with Deloitte. As clients, we are very pleased with this complementarity of services. In corporate commercial law and M&A, this integration is relevant to the effectiveness and fulfillment of the objectives of each project.’

‘From the CTSU team, I would highlight the name of Sofia Carvalhosa. Very focused on solving the challenges posed by the client, identifying the risks associated with each project very early. They also communicate very well, being clear in the explanations of the solutions and conclusions they reach.’

Key clients

Fairjourney Biologics, S.A.

STELIA Aerospace S.A.S.

STELIA Aerospace Portugal, Unipessoal, Lda.

Geriavi Portugal, S.A.

Domus VI

Colep Portugal, S.A.

Caetano Retail (Salvador Caetano Group)


With a strong following of international companies in the telecoms, energy, agriculture, infrastructure and industrial sectors, MACEDO VITORINO is adept in major corporate transactions, commercial contracts and regulatory issues. João Macedo Vitorino maintains a broad corporate and M&A practice, acting for multinationals, investment funds, private equity houses and family offices in transactions. Susana Vieira is another key individual in the team, who is seen with great regularity handling domestic and cross-border deals.

Practice head(s):

João Macedo Vitorino; Susana Vieira

Other key lawyers:

Lourenço Botelho

Key clients

Nordic Solar A/S

Frequent Summer Group

Solaria Energía y Medio Ambiente, SA

Work highlights

  • Advised Nordic Solar in connection with the acquisition (and related financing and PPA) of a RtB 48.5-MWp PV solar park and another 25MWp COD solar PV power plant.
  • Providing legal assistance services to Frequent Summer in the sale of two RtB PV power plants totalising close to 100MWp to Next Energy.
  • Advised Solaria on the development and implementation of in excess of 30MWh PV solar projects in Portugal.

Miranda & Associados

Miranda & Associados is best known for its strong presence in African jurisdictions and its performance in cross-border transactions. Nonetheless, the firm has been solidifying its reputation in the Portuguese market, where it acts for financial institutions, private equity houses and corporations in public and private M&A deals, contractual matters and competition-related work. Managing partner Diogo Xavier Da Cunha is particularly well versed in transactions involving the energy sector, while Maria João Ribeiro Mata specialises in corporate, commercial and M&A mandates.

Practice head(s):

Diogo Xavier da Cunha; Maria João Mata

Other key lawyers:

Nuno Cabeçadas; Catarina Santinho

NGA Advogados

The broad service offering at NGA Advogados covers all aspects of corporate and M&A work, including corporate restructurings, joint ventures, privatisations and cross-border transactions. Furthermore, the team is active providing ongoing corporate and commercial advisory services to a solid client roster across a range of industries. With presence in three main Portuguese cities, the department is spearheaded by Luís Nobre Guedes, who handles the full range of corporate transactional work. Commercial contracts and corporate affairs, as well as private equity deals, are core areas of activity for João Valbom Baptista.

Practice head(s):

Luís Nobre Guedes

Other key lawyers:

João Valbom Baptista; João Ramalhete Carvalho; Hugo da Silva Tavares


Excellent quality, especially in the corporate and real estate areas.’

‘Hugo da Silva Tavares is a professional of excellence in his area with technical and human skills above average.’

‘I usually deal with Luís Nobre Guedes, who has been our legal support for over 30 years.’

Key clients

Albatross Mountain

AON group

Veolia Environment

ActualSales Group

Tecnimede Group

Pharmis Biofarmacêutica

Ikaros Solar


Link Financial

Work highlights

  • Advising Tecnimede Group on the structuring of a €15m joint venture with Farmainveste.
  • Assisting LXTEAM in  corporate restructuring.
  • Advised IKAROS and its shareholders on the sale of the shares owned by the client in Ikaros-Hemera – Energias Renováveis (now, Engie-Hemera).

PRA-Raposo, Sá Miranda & Associados, Sociedade de Advogados RL

PRA-Raposo, Sá Miranda & Associados, Sociedade de Advogados RL has a good track record in M&A, and complements its transactional work with day-to-day company and commercial law advisory services. Assistance in the incorporation of venture capital and private equity funds also features highly in the team’s recent workload. Led by founding partner Pedro Raposo, the department also counts Pedro Sá, who has ‘excellent experience in M&A' and is a key contact in the Porto office, and Tiago Fiuza, who heads up the Algarve commercial, contracts and competition groups, among its core members.

Practice head(s):

Pedro Raposo

Other key lawyers:

Pedro Sá; Tiago Fiúza; Leila Grácio


‘Efficiency in presenting results, availability and simplicity in the relationship between companies.’

‘Pedro Sá – excellent experience in M&A.’

‘Dynamic lawyers available to quickly meet the needs that arise in the day-to-day business.’

‘Speed and efficiency in the legal solutions found for the problems presented. Solid technical foundation of the proposed solutions. Critical and reasoned analysis of possible solution alternatives. Availability, professionalism and uncompromising defence of the client’s interests. Adaptation and knowledge of the specificities of the constituent’s activity. High variety of areas of specialisation within the firm, which gives them the ability to respond to virtually all types of problems. Innovation: significant technological investment to adapt to communication restrictions imposed by the pandemic crisis.’

‘PRA’s way of acting, in an integrated manner, involving various elements of its teams in the in-depth and multidisciplinary analysis of the issues raised and responding to requests that go far beyond what is initially asked of them, gives us an increasingly solid confidence in the competence and excellence of the services they provide us.’

‘Pedro Raposo- very competent , tireless and proactive in the analysis and the respective proposals for solutions to the various requests we place on him. Always available and above all very effective in managing timings, answers to our permanent questions. Tiago Fiuza – In-depth knowledge of the matters. The smallest detail is checked to exhaustion giving us absolute confidence in the proposed solutions.’

Key clients

IT Sector – Sistemas de Informação, S. A.

Aviludo, SGPS, S.A.

AR Telecom – Acessos e Redes de Telecomunicações, S.A.

Work highlights

  • Assisted software development company IT Sector – Sistemas De Informação with its sale to French multinational ALTEN Group.
  • Advised AR Telecom, one of the major players in the Portuguese IT services sector, on the sale of the company to Spanish telecoms wholesale operator Aire Networks.
  • Advised Aviludo on the sale of the company to German multinational Metro AG.

Raposo Bernardo

Raposo Bernardo ‘provides top-notch services‘ in corporate and M&A. The team – which is also seasoned in private equity deals and corporate law – is sought after by investment banks, international funds and domestic and international companies. Nelson Raposo Bernardo is a ‘specialist in corporate and M&A‘, and prepared to assist with corporate reorganisations and multi-jurisdictional deals. Clients from the energy, pharmaceutical, transport and tourism sectors turn to Joana Andrade Correia for advice on an array of corporate and M&A matters.

Practice head(s):

Nelson Raposo Bernardo; Joana Andrade Correia


‘Provides top-notch services in every aspect. The legal advice we receive is always very practical and clear, they work hard to put themselves in our shoes when thinking about solutions. This will also be the result of their highly refined analytical and organisational skills. They work exclusively with the client in mind, they know how to listen to us and understand what we need, always bearing in mind common sense. They also stand out for the way they provide the service, with a very close and totally clear communication.’

‘Nelson Bernardo is a true partner, he deeply knows our activity, has a very practical spirit, puts sophistication and a different touch in all his interventions and matters that he deals with us.’

‘Raposo Bernardo’s performance and general level of legal services is simply excellent. The team is unsurpassed when it comes to what matters in a legal service, which is the technical quality, the legal certainty of advice and the right timely response.’

‘Nelson Bernardo is not only a specialist in corporate and M&A, but also in large financing and projects where we also request Raposo Bernardo’s services. He has a strategic business vision that combined with his vast experience allows us to obtain the best legal advice.’

‘Joana Correia is practical and clear in her advice, goes straight to the heart of the matter.’ 

‘As its most relevant qualities, I highlight the fact that they provide very secure legal advice, are very proactive, interested in knowing our sector very well, available and offer concrete solutions.’

‘All the M&A experiences we have had with this firm have far exceeded our expectations.’

‘Joana Correia is an excellent lawyer, persistent, strong and never gives up. She works fast, is always available and coordinates the younger associates in a highly effective way.’

Work highlights

  • Assisting a client in the total share capital acquisition of another company.
  • Advising a client on an M&A transaction through the acquisition and resale of another company.
  • Provided advice to a client in relation to a transaction in the context of the privatisation of an airline.

APTS - Alves Pereira & Teixeira de Sousa, S.P., R.L.

Commercial matters and corporate law are core areas of focus for the team at APTS – Alves Pereira & Teixeira de Sousa, S.P., R.L., which provides legal support to domestic and international clients operating in a variety of sectors, including media, construction, IT, mining and retail. Leading the practice is João Pedro Alves Pereira, who has been involved in numerous M&A transactions in Portugal and other Portuguese-speaking countries.

Practice head(s):

João Pedro Alves Pereira


‘The Firm responded quickly and knowledgeably to the query proposed. Spoke extremely good English and were clear in their explanations.’

‘Team is very helpful. Very professional approach.’

‘The team is really focused on client needs, with a very specialised and ad hoc approach. Their billing process is clear, with an outstanding pricing/quality ratio. They openly collaborate with other firms or advisors when necessary, with no extra billing for such services. They show important diversity with a team of both genders with important responsibilities and different nationalities among the team.’

‘João Pedro Alves Pereira has proven to be an outstanding professional with full implication and dedication in order to solve efficiently any issue that arises during the legal process. His work has proven to be above expectations. I would and in fact I have recommended his legal advisory to other companies.’

Key clients

Arktec SA

Checkpoint Systems

G-Core Labs

Graitec Innovation, SAS


Mulberry Corp. Limited

Online Sports 2 0

Rentokil Initial

Sabadell Venture Capital

Tumedio Publicidad y Servicios, S.L.

Work highlights

  • Assisting EWAL 5000 on the purchase of a shareholding interest corresponding to 44% of the capital in a dental lab in Porto.
  • Assisting and advising Graitec Innovation with the restructuring of the group’s operations in Portugal.
  • Conducting several legal and HR due diligences on local companies and branch offices in connection with the investment by Sabadell in these targets through venture debt financing.


CARDIGOS is particularly skilled in advising clients on corporate restructurings and reorganisations of assets, but is also routinely retained to assist with the incorporation of subsidiaries. On the transactional side, the team showcases a proven track record in M&A transactions across an array of industries. The team is under the joint leadership of Porfírio Moreira and Sofia De Sousa Caetano, the latter of whom focuses on tax and corporate matters.

Practice head(s):

Sofia de Sousa Caetano; Porfírio Moreira

Other key lawyers:

Maria Almeida Fernandes

Key clients

Apax Partners


Holaluz-Clidom, SA

Cleerly, Inc.



Intrum AB

Intrum Portugal

Intrum Debt Finance

Beazley Group

Loka Inc.

Gaivotas e Cegonhas, Unipessoal Lda.

Work highlights

  • Advised Apax Partners in connection with an LBO financing transaction for the acquisition of a Portuguese group of companies acting in the telecommunications market.
  • Provided legal assistance to Intrum Debt Finance / Intrum Portugal throughout the acquisition of a portfolio of 193 REOs, 106 secured NPLs and 586 non-secured NPLs.
  • Assisted Holaluz Clidom regarding the incorporation of the Portuguese subsidiary Clidomer, Unipessoal and its subsequent integration in the energy market.

CCSL Advogados

The corporate and M&A department at CCSL Advogados ‘stands out for its know-how and in-depth detail of corporate matters'. As ‘one of the most attractive firms for start-ups in Portuguese territory', it also attracts instructions from international investors looking to establish venture capital funds in Portugal, supporting them on transactional and regulatory matters that may arise. The team is also well placed to advise media and publishing companies in the negotiation of commercial contracts. Mafalda Almeida Carvalho is the key point of contact for corporate transactions and governance issues.

Practice head(s):

Mafalda Almeida Carvalho


‘The competence, flexibility, availability and wide spectrum of specialties make CCSL one of the most attractive firms for start-ups in Portuguese territory.’

‘Mafalda Almeida Carvalho is one of the most knowledgeable, competent and efficient young Portuguese lawyers and the support she provided to our company was unsurpassed.’

‘Competent and available team. Mafalda Almeida Carvalho managed in an exemplary way the DD and negotiation of the investment that we carried out, revealing a proactivity and knowledge above average.’

‘They are characterised by great availability, technical and sectorial knowledge and ability to meet deadlines and targets.’

‘We collaborated on some complicated processes that were very well resolved and always successfully.’

‘I highlight Mafalda Almeida Carvalho for her professionalism, in addition to the speed and clarity in resolving all matters.’

‘CCSL team stands out for its know-how and in-depth detail of corporate matters. They bring alternatives to problems and always look for a helpful solution to the situation. They create ways for us to solve problems and achieve goals.’

‘Mafalda Almeida Carvalho – sense of urgency, hard work, always available, enormous know-how, super capable, always brings solutions to problems and alternatives on how to achieve goals.’

Espanha e Associados

Espanha e Associados is primarily focused on providing corporate consultancy services to Portuguese and international companies, who retain the team on a regular basis. Corporate governance is a strong point for the department, which is also adept in M&A deals and corporate restructuring. Rita Beirôco has in-depth knowledge of corporate and commercial law; she handles a diverse workload, which also includes mergers and acquisitions of companies.

Practice head(s):

Rita Beirôco

Other key lawyers:

Mafalda Palma


‘What makes it unique from my perspective is its in-depth knowledge of the reality of our company, and the availability to provide us with answers in a timely manner and in the format we need.’

‘I highlight and recommend Rita Beirôco for her competence, availability and sensitivity to the enormous specificity of our business.’

‘Based on our experience, all matters submitted to this entity are resolved satisfactorily and with the necessary speed.’

Key clients























Work highlights

  • Advised GDA on the preparation of a regulation regarding the attribution of financial support to artists, due to the pandemic situation.


With extensive experience in corporate law and governance issues, MGRA SP RL is noted for its ability to ‘proactively propose innovative approaches to the problems presented'. Of particular note is the firm’s track record in commercial agreements, joint ventures and corporate reorganisations. Helga Lopes Ribeiro and Bruno Lobato make up the core corporate and M&A team.

Practice head(s):

Helga Lopes Ribeiro

Other key lawyers:

Bruno Lobato


‘MGRA knows very well our company and the business segment in which we operate, so it has the capacity to act as our partner, presenting tailormade solutions and proactively proposing innovative approaches to the problems presented.’

Key clients

Dahlman Industrial Group B.V. (Royal Dahlman)

Alphaserve Technologies Group

Ray Allen, INC


Greenalia Group


RTS Atlantic

Hotusa Group

Bulgaria Air

Pollet Water Group

Sanjam Group


KPK & Partners CO. INC.





Grupo PLEXUS Tech SL

Work highlights

  • Advised Alphaserve Technologies on the sale of a Portuguese subsidiary to Eze Castle Integration.
  • Assisted TML – Transportes Metropolitanos de Lisboa in the transfer and incorporation of the company.
  • Assisted Dahlman Industrial Group on the sale of the group to Porvair.

pbbr - Sociedade de Advogados RL

pbbr – Sociedade de Advogados RL ‘demonstrates a deep knowledge of all subjects, great business sense and a pragmatism in finding solutions to all problems'. The corporate and M&A practice stands out for its impressive track record in transactions in the real estate sector. In addition to this sector focus, the team also advises an array of Portuguese and international clients on joint ventures and corporate restructuring. The practice is headed up by Pedro Pinto and Alexandre Jardim, both of whom are recommended for major M&A involving real estate assets.

Practice head(s):

Pedro Pinto; Alexandre Jardim

Other key lawyers:

Gonçalo Mendes Martins; Marco Pereira Cardoso; André Marcos


‘The PBBR team demonstrates a deep knowledge of all subjects, great business sense and a pragmatism in finding solutions to all problems. They work in a cohesive way as a team, complementing and supporting each other, and going the extra mile for the client.’

‘Boutique law firm with a strong focus on the client and execution.’

‘Pedro Pinto – Great experience, knowledge and empathy. Gonçalo Mendes Martins – Knowledge, sympathy and work capacity.’

‘Availability of the main partner, Pedro Pinto, and the quality of his remaining team.’

‘Dynamic, competent and committed. They are able to develop a partnership relationship with the client, helping them to make the best decisions, presenting different scenarios, and anticipating issues.’

‘We have recently worked with Marco Pereira Cardoso and we can strongly recommend him. He is always up to date and focused on the details that make a difference for the client. Alexandre Jardim continues to be a reference for our organisation, and we can only praise his performance, which has been exceptional since the beginning.’

‘Monitoring, availability and collaboration from A to Z of the business.’

‘Marco Cardoso – He is very professional and has always fulfilled his duties in the best way possible. ‘

Key clients

Sonae Sierra

Bouygues Immobilier


ECS Capital

Stone Capital

Signal Capital Partners

Cushman & Wakefield

Kiabi (Groupe Mulliez)

Groupe Atenor

Estrela SGPS

Keys Asset Management

RE Capital

GMG – Geneva Management Group

Avenue Real Estate

Rockstone Real Estate

MDSR Investments

Acacia Point

Serris Reim Asset Management

Prime Real Estate

Optimum Agriculture Advisors

Square View Asset Management

EQTY Capital

Work highlights

  • Assisted Signal Capital Partners in the disposal of JQOne to the US group Jamestown.
  • Assisted Signal Capital Partners in the disposal of a company (and its subsidiaries) to US fund Sixth Street and Acacia Point.
  • Assisted Avenue Real Estate, acting on behalf of Neptune Grafton Funds, in the acquisition of a company owning several plots of land.