Commercial, corporate and M&A in Portugal


One of the most active legal advisors in the Iberian market, Cuatrecasas Portugal handles a steady flow of corporate and M&A matters, with a proven track record in high-value infrastructure and private equity transactions. Share and asset deals involving the energy and real estate sectors are also core areas of activity for the commercial, corporate and M&A team, which benefits from a close relationship with the firm's international network of offices. Department head Mariana Norton dos Reis focuses on cross-border M&A and private equity deals, having led advice on major transactions in the energy, retail and financial services sectors. João Mattamouros Resende is qualified to practice in five jurisdictions, and is the name to note for mandates involving Brazil, Germany, the UK and the US. Corporate restructuring and M&A in the energy sector are among Francisco Santos Costa's specialisms.

Practice head(s):

Mariana Norton dos Reis

Other key lawyers:

Francisco Santos Costa; Vasco Bivar de Azevedo; João Mattamouros Resende


‘They master the business and legal cultures both in Portugal and Spain, which makes them a highly valuable legal team for companies operating at an Iberian level.’

‘I really appreciate Mariana Norton’s calm approach to transactions and her very good negotiation skills. She is very fast in understanding the deal’s drivers and proposing solutions that accommodate the parties’ interests.’

‘The team led by Mariana Norton has exceeded our expectations. Their previous experience in infrastructure projects and their deep knowledge of all the stakeholders involved in a project like the one in which we worked together makes Cuatrecasas stand out in comparison to other competitors. Besides, all the team spoke Spanish which, for us was an upside in terms of communication.’

A proactive office in which most lawyers have a commercial  understanding of the client’s business.’

‘The Cuatrecasas team provided comprehensive, but also practical, legal advice. Their English and communication style was impeccable. ’

‘Mariana Norton Dos Reis is both an excellent lawyer and trusted advisor. Her calm manner and practical advice was invaluable. Francisco Santos Costa did an excellent job managing a complicated transaction. He was always available and guided us through many challenges to find a path forward.’

‘Cuatrecasas provides legal advice at all levels, in Portugal and Spain. Cuatrecasas distinguishes itself positively from other firms in the national legal market at various levels, but mainly with regard to the technical knowledge and creativity of its lawyers in solving problems and the vast Iberian experience to which they have access through their bases database and knowledge management department – there is no situation that is unprecedented. Whether in Portugal, Spain or Chile, there is always a lawyer who has had similar experience and who can help you find a solution that the local team can then adapt to the jurisdiction in question.’

‘João Mattamouros Resende has technical knowledge of the highest level and practical know-how derived from his vast experience in the Corporate and M&A sector, which more than once contributed to problem solving and unlocking of deadlocks.’

Key clients


Partners Group




Deka Immobilien Investments


Exus Management Partners

EKZ Renewables


HI Partners (HIP)


Work highlights

  • Advising French energy company Engie, as the leader of a consortium including Crédit Agricole Assurances and Mirova, on the acquisition from EDP of a 1.7GW hydroelectric portfolio of six hydro plants.
  • Assisting Partners Group in the auction sale process for the acquisition of Rovensa, a market leader group in the agrochemical industry in Portugal and Spain.
  • Advising Novo Banco on the sale of GNB Vida to Bankers Insurance Holdings (APAX Partners) for a consideration subject to adjustment of up to €248m.


With a particular focus on cross-border transactions, the corporate team at Linklaters has a strong background in big-ticket M&A deals in Portugal across several sectors. The firm is a popular choice among international funds, but also leads advice to leading Portuguese and foreign corporations active in regulated industries in the full range of corporate and M&A mandates. The department's portfolio also includes private equity divestments and acquisitions, joint ventures and corporate reorganisations. Leading the team is Marcos de Sousa Monteiro, who often handles transactions involving Portuguese-speaking countries in Africa. Diogo Plantier Santos is a name to note for real estate deals.

Practice head(s):

Marcos Sousa Monteiro

Other key lawyers:

Diogo Plantier Santos; Mariana Serra Baptista

Key clients

Cerberus Global Investments B.V.

KKR Credit Advisors

China Three Gorges (Europe), S.A.

ROADIS Transportation Holding, SL

Morgan Stanley Infrastructure Inc

Novo Banco, S.A.

Oitante, S.A.

BNP Paribas Personal Finance

Permira Asesores, S.L.U.

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

Luz Saúde, S.A.

Magnum Industrial Partners

Santander Group

Mitsui Sumitomo Insurance Co. Ltd.

Unilever Plc

Lincoln Top Pte Ltd

Work highlights

  • Advised Morgan Stanley Infrastructure on its acquisition of 49.99% of Altice’s wholesale fibre operation in Portugal.
  • Advised Cerberus on the acquisition of a portfolio of REOs located in Portugal and a portfolio of NPLs from Novo Banco, with a total book value of approximately €800m (Project Sertorius).
  • Acted for KKR Credit Advisors, the sellers, on the acquisition by MASMOVIL IBERCOM and GAEA INVERSIÓN of joint control of Cabonitel and, indirectly, of the subsidiaries directly or indirectly owned by Cabonitel, from Cabolink.

Morais Leitão, Galvão Teles, Soares da Silva & Associados

Morais Leitão, Galvão Teles, Soares da Silva & Associados has secured its position among the leading players in the Portuguese legal market through its consistent involvement in high-profile and cross-border M&A transactions. The firm handles the gamut of commercial, corporate and M&A deals, assembling tailor-made teams composed of  multi-jurisdictional lawyers and process management specialists that frequently resort to AI tools to provide a more efficient and transparent method of running legal transactions. The department has been particularly active advising on deals in the energy and natural resources, banking and insurance sectors, but also demonstrates broad capabilities in telecoms, IT and more recently sports, with a special emphasis on mandates pertaining to international transfers of players. Private equity expert Tomás Vaz Pinto jointly oversees the practice with Ricardo Andrade Amaro, who specialises in M&A, securities and energy law. Other key individuals include Carlos Osório de Castro, Eduardo Paulino, who has a strong background in capital markets, and private equity and venture capital expert Luís Roquette Geraldes.

Practice head(s):

Tomás Vaz Pinto; Ricardo Andrade Amaro

Other key lawyers:

Eduardo Paulino; Luís Roquette Geraldes; Carlos Osório de Castro; Nuno Galvão Teles; João Alfredo Afonso; Margarida Torres Gama; Diana Ribeiro Duarte


‘Global and transversal support; extraordinary legal and sector knowledge, great ability to search for solutions.’

‘Eduardo Paulino stands out for his knowledge, negotiation skills, global vision. Margarida Torres Gama is knowledgeable and dedicated.’

‘We have worked intensively with Morais over the past year and are very pleased with the collaboration: every team member is very knowledgeable, able to explain complex legal cases and also very approachable. The dedication that the team has shown is admirable and this is reflected in the high quality of work which was always delivered on time. ’

‘Their analyses are all very spot on and the quality of their work is fantastic. Tomás Vaz Pinto is a strong lawyer, practical and very client focused. He managed to lead his team in a very difficult moment (COVID-19) and under prolonged time pressures. Diana Ribeiro Duarte is an extremely talented young professional. She is a rising star. She is always on point and delivers always on time.’

‘Partner Ricardo Andrade Amaro is our trusted pilot steering us through high seas and the person to turn to when the going gets rough.’

‘In addition to the general qualities of the law firm, I mention João Alfredo Afonso, for his excellent technical and strategic knowledge.’

‘I would highlight the team’s market knowledge, proximity to the client, delivery capacity, availability, response time and quality of work. Ricardo Andrade Amaro and Diana Ribeiro Duarte are recommended.’

‘We were very impressed with Tomás and his team. It was a very challenging transaction over an extended period. Deadlines were always tight, we were demanding and they outperformed – even during COVID lockdown. They were always available, responsive to emails and calls – and always professional. We were especially impressed with the quality of English used in the reports.’

Work highlights

  • Advising a consortium (APG Asset Management, the National Pension Service of the Republic of Korea and Swiss Life Asset Managers) in the acquisition of an 81.1% majority interest in Brisa – Auto-Estradas de Portugal.
  • Acted as lead counsel in the sale by EDP, the largest utility in Portugal, of the Douro International power plants (three run-of-river dams and three pumping storage dams) to a consortium.
  • Legal advisers to Assicurazioni Generali as bidder in the auction process for the purchase of Seguradoras Unidas and AdvanceCare.


PLMJ fields a well-established corporate and M&A practice handling large-scale transactions across a range of industry sectors. With significant experience in cross-border mandates, the team counts some of the leading players in the energy, telecoms, banking and infrastructure sectors among its clients. In addition to handling a broad range of asset and share deals, the team is also well versed in non-transactional corporate matters. Private equity deals and privatisations are notable areas of practice for renowned M&A partner Diogo Perestrelo. He jointly leads the team with Duarte Schmidt Lino, who is experienced in venture capital and corporate governance matters. Filipe Avides Moreira is another individual to note for M&A and corporate restructuring.

Practice head(s):

Diogo Perestrelo; Duarte Schmidt Lino

Other key lawyers:

Luís Sáragga Leal; Bárbara Godinho Correia; Filipe Avides Moreira


‘They provide reliable and timely advice whenever needed.’

‘Availability, friendliness and efficiency.’

Reputation, track record, advice oriented to the client’s business, availability and competitive fees.’

‘Filipe Avides Moreira was not only a very capable partner in managing deal structures and general deal organisation but also had an unusually high level of availability and dedication to the client.’

‘Diogo Perestrelo stands out.’

‘The will to strongly reduce written work iterations through multiple in-person or phone contacts to discuss a broad range of matters (from structure to details).’

Key clients


Minor Hotels


Ascendi Group



Critical Software

Azul Linhas Aéreas Brasileiras

Ralph Lauren


Oxy Capital

H.B. Füller

Work highlights

  • Advising DGN on the sale of its stake in TAP for €55m to the Portuguese state.
  • Advising ABB on a joint venture with Hitachi valued at $11bn enterprise value and $6.4bn acquisition price.
  • Advising Turyleader (Oxy Capital) on the sale of Prifalésia, owner of the five-star hotel/resort The Lake Resort, located in the Algarve.

Uría Menéndez – Proença Carvalho

Uría Menéndez – Proença Carvalho continues to consolidate its leading position in the M&A market, showcasing a strong track record in high-value multi-jurisdictional transactions. The department recently strengthened its experience in regulated sectors, having predominantly been retained by clients operating in the telecoms, media, energy and real estate sectors. Co-head Catarina Tavares Loureiro acts for private and listed companies in high-profile M&A. Another key practitioner in the team is recently promoted Joana Torres Ereio, who is proficient in commercial agreements, private equity and venture capital. With in-depth knowledge of the pharmaceutical sector, Francisco Brito e Abreu specialises in private equity and M&A deals, while Carlos Costa Andrade combines cross-practice expertise in capital markets, finance and corporate governance.

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


‘Uría is our choice whenever we need a scalpel rather than an axe in a transaction. The team is massively knowledgeable, deeply committed and extremely cunning in negotiations.’

‘Catarina Tavares Loureiro is the one person we trust whenever complexity of a transaction reaches an overwhelming point.’

‘Francisco da Cunha Ferreira and Rita Xavier de Brito are well experienced partners and with deep acumen in their field of expertise.’

‘The team is very approachable, knows the market, has a great reputation and the expertise to support clients in difficult negotiations. They are practical and very clear in their advice as well as very good technically. ’

‘Joana Torres Ereio has extensive experience in corporate law and M&A and great communication skills.’

Key clients

Altice NV

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

Cofina, SGPS, S.A.

DWS Grundbesitz Gmbh

Multi Development Corporation

CaixaBank, S.A.

Capital Criativo – SCR, S.A

Nutreco Nederland, B.V.

OptiGroup AB



Allianz Real Estate

Elo Mutual Pension Insurance Company

Work highlights

  • Advised Altice on the €4.63bn (equity partnership) joint venture with Morgan Stanley Infrastructure regarding the fibre business held by Altice in Portugal.
  • Assisted Allianz and Elo Mutual Pension Insurance Company in the creation, together with Sonae Sierra and APG, of a new strategic joint venture which holds a stake in six flagship Iberian shopping centres.
  • Advised Cofina on the acquisition of Grupo Media Capital through a share purchase agreement entered into with Promotora de Informaciones and the launch of a public tender offer.


VdA has one of the leading M&A, corporate and governance teams in the country. Testament to its standing in the market is its involvement in numerous landmark deals, ranging from share and asset transactions to privatisations and corporate reorganisations. The firm acts for multinational corporations, private equity firms, listed companies, domestic financial institutions and companies operating in a range of highly regulated sectors, with a particular focus on energy, telecoms, infrastructure and education. Jorge Bleck, whose notable areas of practice include private equity and joint ventures, leads on M&A mandates, while Paulo Olavo Cunha oversees the corporate and governance group. With a strong background in finance and energy law, Claudia Cruz Almeida participated in several of the big-ticket transactions recently handled by the firm. Other core team members include managing partner João Vieira de Almeida and private equity and venture capital specialist Helena Vaz Pinto. Sofia Bobone stands out for her impressive international experience. In firm-wide developments, in 2021 the firm joined SDG Ambition, the UN programme aimed at integrating the sustainable development goals into business management.

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

Key clients

José de Mello Capital, S.A.

Ageas Portugal


Cellnex Telecom, S.A.

Novabase SGPS, S.A.

First State Investments

Finerge Group

Toyota Motor Europe

Sonagi SGPS, S.A.

GHO Capital Partners LLP

Stericycle, Inc.

Mapfre Group

Caixa Geral de Depósitos, S.A.

Plainwater, SGPS, S.A.

Porsche Holdings GmbH


Certares Management LLC

Stirling Square Capital Partners Second Fund (Advisers) LLP

Work highlights

  • Advised the José de Mello Group, majority shareholder of Brisa Auto-Estradas de Portugal, on the joint sale of two blocks of shares representing a total of 81.1% of Brisa’s voting rights, together with Arcus European Infrastructure Fund 1 LP.
  • Assisted Porsche Holdings on the acquisition of SAG’s automobile business, through the acquisition of its subsidiaries.
  • Advised Cellnex on the purchase of Omtel through the acquisition of the 25% equity stake of PT Portugal, a wholly owned subsidiary of Altice Europe, and the 75% equity stake of Belmont Infra Investments.

Abreu Advogados

Abreu Advogados is particularly engaged in cross-border M&A transactions involving Portuguese-speaking countries in Africa, notably Angola and Mozambique. It acts for clients from a variety of industry sectors, including real estate, energy and banking, in a range of corporate matters, such as private equity deals, privatisations, commercial agreements, acquisitions and disposals. The team is under the leadership of three partners: Ana Sofia Batista, who leads on private equity; M&A expert José Maria Corrêa de Sampaio; and Manuel Santos Vítor, who is often involved in energy-related matters. Maria Santa Martha joined the firm in October 2020, Teresa Anselmo Vaz joined in May 2021, and Inês Sequeira Mendes  became managing partner in 2021.

Practice head(s):

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

Other key lawyers:

Marta Romano de Castro; Hugo Teixeira; Teresa Anselmo Vaz


‘The firm is very responsive and translates international standards to local solutions.’

‘Partner José Maria Corrêa de Sampaio has a lot of M&A experience and provides an excellent follow-up service to clients.’

‘Hugo Teixeira is very hands-on and solution-oriented: a true deal maker.’

‘The team in Abreu was highly dedicated to the project we were working on. The level of service, follow-up and legal advice was of high class. We encountered several very difficult legal problems, but we received strong and clear legal advice. Manuel Santos Vítor was simply outstanding in assisting us on any matter with the help of their team. ’

‘Manuel Santos Vítor is the guy you want to bring to the negotiation table. He is highly experienced, solution oriented and with great ability to focus on the big picture. We always got the best service with great advice in a timely fashion.’

Key clients




Caixa Geral de Depósitos


Chint Solar

Matériels Industriels de Sécurités – Matisec


JLL Group

Greenyard Fresh NV

Seguradoras Unidas


De Heus




Work highlights

  • Assistance to Statkraft in the intended acquisition of a portfolio of hydro assets through the acquisition of a SPV vehicle of the EDP Group.
  • Advised FREY on the acquisition of Algarve Shopping & Albufeira Retail Park, one of the main shopping centres in the Algarve region.
  • Represented Biosurfit in a co-investment capital investment operation involving Swedish company Boule Diagnostics and the Co-investment Fund.


Campos Ferreira, Sá Carneiro & Associados attracts instructions from domestic and international corporate clients, private equity and venture capital firms, which seek guidance in relation to share and asset deals in regulated sectors. The department has extensive experience in acting on the buyer and seller side in M&A transactions; other areas of activity include joint ventures and corporate restructuring.


With access to the firm's global network, the corporate and commercial team at CMS is extremely active in complex cross-border transactions. The team is adept at handling M&A and corporate law matters across a range of industries, with a particular emphasis on the energy and real estate sectors. Typical mandates also include advising private equity players on their investments in the Portuguese market. M&A, corporate restructuring, joint ventures and corporate finance are all notable areas of practice for co-head João Caldeira. Fellow co-leader Francisco Xavier de Almeida assists domestic listed companies and multinationals on inbound and outbound transactions.

Practice head(s):

João Caldeira; Francisco Xavier de Almeida

Other key lawyers:

Margarida Vila Franca; Tiago Valente de Oliveira

Key clients

Explorer Investments

Miguel Barreto

Amorim Luxury Group

Vinci Energies, S.A.

Crest Capital Partners

Aquila Capital

UBS Asset Management

Lightsource BP

Glennmont Partners


Work highlights

  • Advising Amorim Luxury Group in the acquisition of the tourism real estate assets owned by Herdade da Comporta Real Estate Fund.
  • Assisted VINCI Energies with the acquisition of 100% of Novabase Digital.
  • Advised UBS Asset Management on the acquisition of 100% of Energyco II and its subsidiaries, notably Gascan, a relevant Portuguese market player in the distribution and supply of piped liquefied petroleum gas (LPG).


Corporate and M&A is a core area of practice at DLA Piper ABBC, which stands out for its expertise in private equity matters and divestments. The team has recently been engaged in several big-ticket M&A deals that took place in the financial and energy sectors in Portugal; its sector expertise also extends to the real estate, pharmaceutical and transport industries. Head of department Nuno Azevedo Neves is a key point of contact for international corporations and funds seeking support in multi-jurisdictional transactions. João Costa Quinta is the name to note for private equity deals.

Practice head(s):

Nuno Azevedo Neves; João Costa Quinta

Other key lawyers:

Rita Costa Carvalho; Nuno Castelo Branco


‘Deep knowledge of the sector and legal technical wisdom.’

‘Complete availability and extensive experience.’

‘DLA Piper is our first choice in terms of legal services in Portugal due to the availability of its professionals and the vast experience they have in virtually all legal areas. The use of internal expertise to resolve current issues is a valuable and differentiating element.’

‘João Costa Quinta, Rita Costa Carvalho and Nuno Castelo Branco, are lawyers specializing in mergers and acquisitions. The active role they take not only in the production of documents but also in the negotiation phases and in the design of the acquisition and sale operations makes them absolutely certain choices when we seek advice in these processes. The availability of the three is another critical factor.’

Key clients

Fosun International


C2 Capital Partners


ECS Capital

DS Smith

EDP Renováveis


Savannah Resources

Prime Yield

Work highlights

  • Advising Armilar in the first round of investment in Vawlt Technologies, which is a spin-off from the Faculty of Sciences of the University of Lisbon.
  • Assisting COPORGEST – Companhia Portuguesa de Gestão e Desenvolvimento Imobiliário on the incorporation of a private equity fund.
  • Providing legal assistance to Grupo Bernardino Gomes within the context of an M&A project comprising the disposal of a majority shareholding in the share capital of several Portuguese companies operating in the hospitality and leisure sector with the brand Real Hotels.

Gómez-Acebo & Pombo

With extensive experience in regulated sectors, Gómez-Acebo & Pombo is predominantly engaged by multinational companies and international funds in relation to the gamut of corporate law and M&A matters. On the transactional front, the team is equipped to assist with asset and share deals, corporate reorganisations, and private equity and venture capital investments. The team also counts joint ventures and commercial contracts among its areas of expertise. Mafalda Barreto specialises in M&A, finance and restructuring in the energy, telecoms and infrastructure sectors. Miguel de Avillez Pereira is often involved in corporate and commercial mandates involving Portuguese-speaking countries in Africa, namely Angola and Mozambique.

Practice head(s):

Mafalda Barreto; Miguel de Avillez Pereira

Other key lawyers:

Susana Morgado; Luísa Carrilho da Graça


‘The team stands out for its incredible availability and practical solutions.’

Key clients

Laureate Education

Cubico Sustainable Investments



Taisho Pharmaceutical Holdings Co.

Factor Energía


Towa Pharmaceutical Co., Ltd

Indigo Vision PLC

Glencairn Capital

Gate Gourmet


Looping Group


Work highlights

  • Advised Grupo Prisa in the negotiation of the sale of the stake held in Grupo Media Capital to the Portuguese company COFINA.
  • Assisted Towa Pharmaceutical in the acquisition of Pensa Investments, the generics division of the Spanish pharmaceutical company ESTEVE.
  • Advised IndigoVision in the acquisition of 100% of the issued share capital of Agorasys.


Garrigues manages a busy workload, with a significant proportion of its deals involving cross-border elements and private equity firms. The latter is a key specialism for Mário Lino Dias, who also demonstrates in-depth knowledge of the insurance and renewable energy sectors. Private equity and venture capital deals are among Tomás Pessanha's typical instructions; he is a key individual in the Porto office, who regularly handles high-profile M&A in Portugal and abroad. Susana Pimenta de Sousa and Manuel Liberal Jerónimo are also extremely active in corporate law and transactional matters. In order to provide quicker feedback to current and prospective clients, and manage any conflicts more efficiently, the firm has developed an app in-house called GarriguesWork.

Practice head(s):

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

Other key lawyers:

Manuel Liberal Jerónimo


‘Very experienced team with an extensive track record in renewable energy and outstanding network in local market. Excellent performance.’

‘Mário Lino Dias is a very experienced partner and a compelling negotiator.’

Garrigues provides an excellent level of service, with a very close monitoring of the client. The partner Tomás Pessanha, with whom we have worked for about 15 years, is a magnificent lawyer. In addition to a high legal knowledge, he has a totally client-oriented approach.’

Technical capacity of the team; commitment to resolve issues; empathy with clients; constant availability.’

‘As a law firm, there is also the advantage of multidisciplinary teams that complement the specialised capabilities of each department, with the quality seal inherent to Garrigues.’

‘ I particularly recommend the partner Marta Graça Rodrigues for her experience in M&A.’

‘Tomás Pessanha and Manuel Liberal Jerónimo are strong negotiators in M&A transactions.’

‘I have always found incredibly easy to deal with Susana Pimenta Sousa. She was always very responsive, objective, flexible, and took the time to understand our specific needs instead of trying to impose ready-made answers. Her taking the time to get to know us, our culture and our business made her invaluable.’

Key clients

Allianz Capital Partners

Aegide Domitys

Amorim Group

APAX Capital

Atena Capital Partners

Angelini Pharma

Banco Santander Totta


Brenntag Group

COFCO International

Corteva Group

Crest Capital Partners

Delta Cafés Group


Deutsche Bank

ECS Capital


Galro Resort Hotels

GS Inima

Hikma Pharmaceuticals

JP Morgan Asset Management

Mercan Capital

MCH Private Equity

Njord Partners

Norauto Group

Novares Group

Orona Group

Oxy Capital



Sherpa Capital

Société Générale

Surteco Group

The Cibus Fund

ToscaFund Asset Management

Vallis Capital Partners


Work highlights

  • Advising the shareholders of Frulact on the sale of 100% share capital of Frulact – Sociedade Gestora de Participações Sociais and its subsidiaries to a fund managed by Ardian.
  • Assisting The Cibus Fund in the acquisition of 100% share capital of the Portuguese subsidiaries of Hall Hunter Partnership.
  • Acting for Banco Santander Totta in the sale of a 50.01% stake in the share capital of Popular Seguros,  to Mapfre, and setting up a new joint venture in the non-life insurance market and an exclusive bancassurance partnership.

SLCM | Serra Lopes, Cortes Martins & Associados

With in-depth knowledge of corporate law, SLCM | Serra Lopes, Cortes Martins & Associados handles domestic and cross-border M&A transactions. The team has built a strong reputation in the consumer goods industry, and has recently strengthened its expertise in the energy and pharmaceuticals industries. Luis Miguel Cortes Martins offers a blend of local and international expertise, focusing on M&A and privatisations. Rafael Lucas Pires is noted for his experience in high-value inbound and outbound transactions, while Martim Anahory specialises in corporate governance and commercial contracts. Alexandra Martins is another name to note.

Practice head(s):

Luis Miguel Cortes Martins; Rafael Lucas Pires; Martim Anahory

Other key lawyers:

Alexandra Martins


The lawyers demonstrate thorough knowledge of client’s matters, coming up with practical solutions to solve problems.’

The following lawyers stand out: Luís Cortes Martins, Rafael Lucas Pires and Alexandra Martins.’

‘Alexandra Martins is knowledgeable of the clients’ reality.’

Key clients

Sociedade Central de Cervejas




Banco Comercial Português, S.A.

China Three Gorges

Novo Banco, S.A.

Grupo Jose de Mello

José de Mello Saúde


Havi Group


Lx Partners


Zaphira Capital


Grupo JAP

Germano de Sousa

Glennmont Part

Work highlights

  • Advised SAGIES (a company operating in the area of safety, hygiene and health at work) in the acquisition of Medicil and Inogrup (CNM – Centro Nacional de Medicina do Trabalho).
  • Assisted Fundo de capital de Risco Novo Banco Capital Growth in the sale of the holding company of Monte do Pasto Group to CESL Asia.
  • Advised SCC (the Portuguese subsidiary of the Heineken Group) in the acquisition of 100% of the share capital of Mineraqua.

SRS Advogados

SRS Advogados fields a sizeable practice that is a go-to destination for TMT clients seeking assistance in corporate, commercial, M&A and regulatory matters. In addition to advising buyers and sellers in technology M&A transactions, the team also excels in private equity and venture capital investments and energy-related deals. Octávio Castelo Paulo is a key point of contact for energy and TMT clients. He co-heads the department, which has broad cross-border capabilities, demonstrating extensive experience in transactions involving African jurisdictions. Gustavo Ordonhas Oliveira and Alexandra Valente are noteworthy for private equity transactions, joint ventures and privatisations. Paulo Bandeira oversees a group focused on the setting up and development of start-ups. The firm recently welcomed a team of M&A specialists, including Gabriela Rodrigues Martins and Dulce Franco, following its merger with law firm AAA Advogados.

Practice head(s):

Octávio Castelo Paulo; William Smithson

Other key lawyers:

Gustavo Ordonhas Oliveira; Alexandra Valente; Paulo Bandeira


‘Their knowledge in the required topics and availability to present adequate and executable alternatives provides security that all issues are handled properly and professionally. Experience in complex private equity transactions. ’

‘Gustavo Ordonhas Oliveira has a good understanding of the balance between the legal provisions and deal objectives. Furthermore, he has extensive international transactional experience which makes him a leading private equity lawyer in Portugal.’

‘They are competent and especially go to unusual lengths to help clients in their key issues. SRS went beyond what would be expected and was critical to establish the legal platform on the basis that on which our firm expanded its business.’

‘I would wish to give a special mention to Gustavo Ordonhas Oliveiras. Besides being a very competent lawyer, he is a true gentleman with the highest values.’

‘Deep knowledge of the topics.’

‘Honesty, transparency and availability’

‘Gustavo Ordonhas Oliveira is the partner we have worked with the most, and he has several distinctive qualities: 1) high availability and flexibility in communication; 2) good support team on different analysis needed, including subjects outside M&A; 3) high interpersonal skills in communications with counterparts and all members of the client team, from partners to junior members; 4) good attention to detail; 5) strong capabilities of converting difficult commercial structures into contracts.’

Key clients

Oxy Capital



Iberis Capital

FFL Partners

Índico Capital Partners


Joaquim Chaves Saúde

Respol – Resinas, S.A.

J.P. Sá Couto, S.A.

PME Investimentos – Sociedade de Investimento, S.A.

IFD – Instituição Financeira de Desenvolvimento, S.A.

Work highlights

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

Caiado Guerreiro

Caiado Guerreiro offers legal support to clients from a range of sectors, including transport, telecoms, energy and construction, in relation to their inbound and outbound investments. The team is equipped to handle acquisitions, sales, mergers and joint ventures, and also advises on efficient tax structures. In addition to transactional work, the team provides daily assistance to clients in corporate, commercial, regulatory and compliance issues. João Caiado Guerreiro jointly leads the practice with Ricardo Rodrigues Lopes, who is proficient in corporate restructuring and M&A transactions.

Practice head(s):

João Caiado Guerreiro; Ricardo Rodrigues Lopes

Other key lawyers:

Jorge Ribeiro Mendonça


‘The team understands clients’ business and solves problems efficiently.’

Caiado Guerreiro offers excellent quality services that distinguishes it in the market.’

‘Ricardo Lopes has an admirable set of qualities, including competence, comprehensive knowledge, effectiveness, availability, flexibility, and a collaborative posture. The availability of the founding partner, João Caiado Guerreiro, to give his opinion and monitor some critical issues, contributing expertise and experience, is a great asset.’

‘Quick response, great client service, permanent availability. Ricardo Lopes is recommended.’

‘You always feel like you are in safe hands and that they are on top of everything.’

‘Ricardo Rodrigues Lopes is super responsive, very bright, and pragmatic when he needs to be. I really can’t say enough good things about Ricardo.’

Key clients


Bankinter Gestão de Ativos, S.A

Niclas Butz

GFI Informatique


Tendam Group


Breugma-Sociedade de Gestão e Empreendimentos Imobiliários, S.A

Inventum Beheer, B.V.

Fénix Lusitana

Work highlights

  • Assisted Olympus in the incorporation of a new subsidiary in Portugal and the preparation of a demerger-merger operation of the Portuguese group companies.
  • Assisting Bankinter Gestão de Ativos on its cross-border merger with Bankinter Gestão de Ativos, SGICC, Sociedad Unipersonal (incorporating entity).
  • Assisting GFI Informatique in the acquisition process of I2S, a Portuguese group acting in the insurance information technology sector.

Eversheds Sutherland FCB

Working closely with the banking, capital markets and competition practices, the corporate, commercial and M&A team at Eversheds Sutherland FCB is skilled at advising on the negotiation of all types of contracts and commercial agreements, mergers, acquisitions and divestments as well as private equity deals. Other areas of activity include corporate reorganisations and structuring of joint ventures. Rodrigo Almeida Dias has significant experience in the real estate and TMT sectors. Pedro Guimaraes is often involved in multi-jurisdictional matters.

Practice head(s):

Rodrigo Almeida Dias; Pedro Guimarães

Other key lawyers:

João Couceiro


‘The firm stands out for the service fully adapted to the needs of the client.’

‘Pedro Guimarães and his team are extremely responsive and provide concise and clear advice. They are knowledgeable and don’t waste time on irrelevant aspects of a transaction, having the ability to identify the key issues and solve problems. They do this in a positive non-aggressive manner that gets the deal done. Their communication skills are a huge benefit when acting for large US clients who can be demanding. ’

‘Focused on the client, acting in permanent alignment with their priorities.’

‘João Couceiro is available and committed.’

‘ I would recommend Rodrigo Almeida for the quality of services he provides.’

‘Great work capacity, very good knowledge of subjects and dedicated to the client.’

Knowledge of the client’s business and practical solutions.’

Key clients

Generali Real Estate


Culligan International


Senvion GmbH


Norman Hay


Next PLC


Work highlights

  • Advising Generali Real Estate on the acquisition of 100% of the shares of a Portuguese company owning Office Oriente, an office complex located in Expo, Lisbon.
  • Assisted Selina, an internationally renowned brand in the hospitality sector, with the incorporation of several Selina Portuguese subsidiaries.
  • Assisted Culligan International in the acquisition of 100% of the shares of a Portuguese company in the sector of water coolers and dispensers (office and home).

RRP Advogados

The young but highly experienced corporate and M&A practice at RRP Advogados advises international and domestic companies on public and private M&A transactions, corporate restructuring, privatisations and governance matters. The team also provides day-to-day corporate assistance to core clients, and works alongside the financial department to assist private equity firms. Rodrigo Falcão Nogueira is a name to note for private equity deals, and is also proficient in cross-border M&A transactions. He receives key support from Manuel Cordeiro Ferreira, who is often engaged by companies from the telecoms, construction, healthcare and financial services sectors.

Practice head(s):

Rodrigo Falcão Nogueira

Other key lawyers:

Manuel Cordeiro Ferreira; Joana Varela; Jacinta Amorim Vieira

Key clients

Groupe Legendre

NovEnergia Group

Miya Water Group

Mitiska REIM

B. Braun


Plenium Partners

CaixaBank Group

Aquinos Group

Tapeçarias Ferreira de Sá



The Data Scientists

Administradora de Archivos


Grupo Hinojosa


Work highlights

  • Advised Mitiska REIM on the acquisition from Blackstone of a portfolio of companies that operate in the retail sector in Portugal.
  • Advised Tapeçarias Ferreira de Sá and its private shareholders on its sale to an SPV managed by Sherpa Capital, the Spanish private equity house.
  • Advised Abanca on the potential acquisition of a majority shareholding in EuroBic.

Sérvulo & Associados

With extensive experience acting for private and public sector clients, Sérvulo & Associados provides assistance in M&A deals, joint ventures, cross-border restructurings and an array of corporate law matters. Besides M&A transactions, Sofia Carreiro is seasoned in joint ventures and commercial contracts, such as agency or distribution agreements. Teresa Anselmo Vaz left the firm in May 2021.

Practice head(s):

Sofia Carreiro

Other key lawyers:

Pedro José Alvim


‘Capacity to promptly respond with high-quality advice. The team provides sound and robust legal advice together with practical solutions.’

It is a dedicated team, with a strong commitment to trying to understand, prior to the transaction, what the client’s objectives are. They have solid technical knowledge, explaining in detail all the possible options throughout the deal, and indicating the best possible framework for the intended operation. All documents delivered are previously reviewed by the respective partners, thus ensuring that they are produced with high accuracy and without errors.’

‘Sofia Carreiro has an absolute technical mastery and is committed to finding solutions in order to ensure the successful closure of transactions.’

‘The team was always available for clarifications and constant review of the documentation provided.’

‘Very client-oriented team, good communication, direct contact with the partner and team, always available to discuss matters and review documentation.’

Key clients

Guang Dong Kinlong Hardware Products (HK) Co., Limited

Galp Gás Natural Distribuição

Direção-Geral do Tesouro e Finanças (DGTF)

Banca Farmafactoring, SpA

Porsche Iberica

Douro Acima

Fresenius Medical Group

NephroCare Portugal, S.A.

Key Family Holding Investimentos e Consultoria de Gestão, Lda.

Engel & Volkers

Lisbon Cruise Port

Consulmar Projectistas e Consultores Lda.


Work highlights

  • Advised Galp Gás Natural Distribuição on the €32m acquisition of Tagusgás – Empresa de Gás do Vale do Tejo and its subsidiary Tagusgás Propano.
  • Represented DGTF in the negotiation and acquisition of the shareholdings held by private investors (PT-Altice and Motorola) in the share capital of SIRESP, the company in charge of the management and operation of the Portuguese integrated system for emergency and security networks.
  • Advised Kinlong on the acquisition of 100% of the shares and shareholder loans of CIFIAL, the holding company of Cifial Group, from Fundo Recuperação, FCR (ECS) and Edgespot.

Albuquerque & Almeida

In addition to assisting international and domestic clients with commercial and corporate law matters, Albuquerque & Almeida is also skilled at advising foreign buyers on M&A transactions in Portugal. The team has been particularly active in the private equity market, for which André Matias is a name to note. He is also a key point of contact for technology companies and venture capital firms. António de Mendonça Raimundo focuses on commercial contracts and corporate law, which are also core areas of activity for Paulo Almeida.

Practice head(s):

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

Other key lawyers:

Pedro Sousa Gonçalves

Key clients

Crest Capital Partners

C2 Capital Partners

Axia Ventures Group

Indie Campers S.A.

Transportes Paulo Duarte

Factory Licensing GmbH

Global Fire Equipment

Johnson Wax Group

Hospital Cruz Vermelha

CMVM (Portuguese Stock Market Regulator)

ABB – Asea Brown Boveri

Hitachi ABB


Massimo Zanetti



Estee Lauder





Global Fire equipment SA




Work highlights

  • Acted for Crest Capital Partners in its €15m acquisition of the majority of the shareholdings of Queijos Tavares.
  • Advised MASSIMO ZANETTI BEVERAGE GROUP in the acquisition of the Portuguese coffee producer Cafés Nandi, involving the acquisition of two subsidiaries of the group (Cafés Nandi and Multicafés).
  • Advised ETE Group on the acquisition of 25% of the shareholdings of Setefrete, a port operator of the Port of Setubal.

CCA Law Firm

CCA Law Firm's service offering covers commercial agreements, ongoing corporate advice and M&A transactions across several industries, including energy, insurance, technology, tourism and telecoms. The team is a go-to destination for start-ups and SMEs that seek specialised services offered by the firm's "startinnovation" group. Head of department Sara Reis assists with inbound and outbound investments, notably deals involving African jurisdictions. Domingos Cruz, whose areas of expertise include mergers and real estate transactions, is also a key contact.

Practice head(s):

Sara Reis

Other key lawyers:

Domingo Cruz

Key clients

Procter & Gamble (P&G)




Havas Media Group




High Bridge







Switch Payments


Fortera Group

Dalumi Group

Work highlights

  • Acted for AEGON Spain Holding in the acquisition of two autonomous business units as a going concern, including but not limited to certain insurance portfolios corresponding to parts of Eurovida – Companhia de Seguros Vida.
  • Assisted Portuguese insurtech start-up Coverflex raising €2.5m in its first investment round, setting the record in Portugal for a pre-seed phase.
  • Advised the shareholders of Flaner on the sale of the company to GCPY Holdings (Gympass).

Macedo Vitorino & Associados

Macedo Vitorino & Associados is equipped to advise multinational corporations, domestic companies, investment funds and private equity firms in M&A transactions. Corporate law and commercial advice is also provided by the team, which is jointly led by João de Macedo Vitorino and Susana Vieira. The practice is experienced across a variety of industries, notably energy, telecoms, real estate and retail.

Practice head(s):

João de Macedo Vitorino; Susana Vieira


A team of excellent and extremely professional lawyers. Their experience with international contracts has been the main reason for choosing the firm. Response time is fast and reports are easy to follow. We also value the great availability demonstrated. The commercial relationship is transparent and constructive.’

‘We have been working mainly with João Macedo Vitorino. He demonstrates great technical knowledge, creativity and experience, which allows us to be always better positioned in relation to the companies / partners with whom we negotiate.’

Key clients

Solaria Energía y Medio Ambiente


Greenswan SPGS SA

Miranda & Associados

Miranda & Associados provides assistance to clients from several industries, including energy, IT, real estate, life sciences and infrastructure, throughout all stages of M&A transactions. The firm recently welcomed Maria João Ribeiro Mata to the partnership; she brings a wealth of experience in domestic and cross-border transactions, corporate reorganisations and joint ventures. The corporate and M&A team, which is overseen by Diogo Xavier da Cunha, stands out for its experience in energy-related mandates.

Practice head(s):

Diogo Xavier da Cunha

Other key lawyers:

Maria João Ribeiro Mata; Catarina Santinho


‘Maria João Mata and Catarina Santinho stand out in the department.’

Key clients

Glintt – Global Intelligent Technologies, S.A.

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

Glintt – Healthcare Solutions, S.A.

Work highlights

  • Advised Mekkin on the sale of the entire share capital of Ventos Propícios – Energia Eólica to Plenium Partners’ Portuguese subsidiary Equitix Plenium Wind 1.
  • Assisted Parpública in the merger of EMEF into CP.
  • Advised Glintt on the acquisition of a majority stake in HLTSYS from private investors.

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

The sizeable team at PRA-Raposo, Sá Miranda & Associados, Sociedade de Advogados RL focuses on corporate and commercial law, contracts, M&A and competition issues. On the transactional side, it frequently assists clients from different industries in cross-border matters involving European and Portuguese-speaking jurisdictions. Typical instructions also include advising companies on their internationalisation efforts. The team is overseen by Pedro Raposo and also includes Pedro Sá, who is the key point of contact for clients from the Porto region.

Practice head(s):

Pedro Raposo

Other key lawyers:

Pedro Sá; Leila Grácio

Raposo Bernardo

Raposo Bernardo acts for investment banks, international funds and domestic and international companies in a range of corporate and M&A mandates. Nelson Raposo Bernardo is experienced in cross-border transactions and corporate restructuring. He jointly leads the department with Joana Andrade Correia, whose sector specialisms include the aviation, tourism, energy and pharmaceutical industries.

Practice head(s):

Nelson Raposo Bernardo; Joana Andrade Correia


‘What makes Raposo Bernardo a unique law firm is its overwhelming service capacity, its technical ability and the excellent strategic legal advice. They are able to provide sufficient general information through well-constructed and pertinent memos for our activity, putting us on the right path to what is truly important.’

‘Joana Andrade Correia is an extraordinary lawyer, always very well prepared, and has great knowledge of corporate and M&A transactions. She is always available and has our full confidence in all types of matters in this area. She fights to get the best results.’

‘We may have more than one hundred projects a year and an average of 300 hours of work per month with Raposo Bernardo, but they always get it right. I highlight two partners: Nelson Bernardo and Joana Correia. Nelson Bernardo stands out for his intelligence, legal knowledge, work capacity, availability, brilliant leadership, team spirit and international experience. Joana Correia is also a lawyer with an impressive, intelligent, safe and proactive approach; she solves all problems with an impressive precision and rigor.’

‘They are highly professional, extremely knowledgeable in the practice of international Mergers & Acquisitions, very organised, innovative and always proactive.’

‘Nelson Raposo Bernardo is a superb lawyer.. I also have to highlight another partner, Dr. Joana Andrade Correia, with the same level of professionalism and an incredible ability to reverse apparently negative situations in the client’s favour.’

‘Raposo Bernardo is sophisticated in its approach and in all the services it provides; innovative in the way it solves complex problems and a leader in defining interpretations and trends in discussions on legal matters. The team knows our business beyond the law and adapts to our needs. Lawyers provide quick responses and are proactive.’

‘I highlight two great lawyers. Nelson Raposo Bernardo is intelligent and a very perceptive leader. He is very experienced in M&A transactions, has impressive international experience and is extremely dedicated to the client. Joana Andrade Correia is always one step ahead in matters. She is very focused on solving challenges.


Split between the Lisbon and Porto offices, TELLES provides legal support to small and medium-sized companies, international corporations, public authorities, private equity and venture capital houses. The team is equipped to handle the entire life-cycle of M&A transactions, including merger control and regulatory issues. Of particular note, the department often handles M&A deals involving energy companies operating in Portugal. Carlos Lucena has a strong background in venture capital deals and corporate restructuring, while Francisco Espregueira Mendes is the name to note for private equity transactions, commercial agreements and competition law.

Practice head(s):

Carlos Lucena; Francisco Espregueira Mendes

Other key lawyers:

Miguel Carvalho; Mariana Ferreira Martins


The proximity to the client makes Telles the best law firm we have worked with. Its capacity is multi-disciplinary and lawyers have extensive knowledge and experience in all fields:  contractual issues, negotiations, tax, international law, among others. Miguel Carvalho has great communication skills.’

‘Telles offers its clients a very diversified team covering a range of legal areas, that makes it possible to obtain answers and support from a single law firm.’

‘Francisco Espregueira Mendes is recommended for his competence, rigor, versatility, proximity and client service. Mariana Ferreira Martins also stands out for her knowledge and close monitoring of matters.’

‘Proximity to the client, accessibility and partnership spirit.’

‘Francisco Espregueira Mendes an Mariana Ferreira Martins stand out for the quality of their work, accessibility and proximity to the client.’

‘Able to handle complex issues, and come up with efficient solutions. I recommend Carlos Lucena and Miguel Carvalho.’

Key clients


Total Eren

Fiera Capital Corporation

SUSI Partners

SUSI Energy Efficiency Fund II

Auto-Sueco, LDA.

Egis Road Operation Portugal, S.A.

Ferpinta Turismo, SGPS, S.A.

Inter-Risco Group

Super Bock Group

Vallis Capital Partners, S.A.

Quadrantis Capital

PEEIF – Portuguese Energy Efficiency Investment Fund – Fundo de Capital de Risco

New Edge Fund

Luxaviation Group

APREN – Portuguese Renewables Association

Air Liquide Portugal

Lucios Europe BV

New Finerge SA

Photon Energy Corporate Services CZ s.r.o.

Island Renewable Energy Ltd

Winpower International Ltd

Fruits of Life Ltd


TermoGreen Ltd

Planalto Capital


Unilabs Group

Drautex, Produtos Têxteis, Lda.

Nelson Quintas Imobiliária, S.A.


SKK – Central Distribuição para Refrigeração e Climatização, Lda

Almina Holding, S.A.


Clerimada – Gestão de Imóveis, S.A.

Efimóveis – Imobiliária, S.A.

Ferreira – Construção, S.A.

Cidade das Rosas, S.A.

ASMI Industries

Fashion Division, S.A.

Work highlights

  • Assisted PLURIS INVESTMENTS in the acquisition of 30% of the share capital of Grupo Media Capital SGPS from Prisa.
  • Assisted PLANALTO GROUP in the purchase of 100% of the share capital of Externato Infantil O Papião, and of the real estate property owned by the company where the school is located.
  • Advising EFIMÓVEIS – IMOBILIÁRIA on a joint venture with the Grupo Urbania International.

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

APTS - Alves Pereira & Teixeira de Sousa, S.P., R.L. predominantly advises clients operating in a variety of industries on corporate law matters and commercial issues. João Pedro Alves Pereira oversees the team, which is also adept at handling cross-border M&A transactions, while working in association with international law firms.

Practice head(s):

João Pedro Alves Pereira

Key clients

Archon Systems

CheckPoint Systems

Every Day Networks


Metal Exchange Corp.

Mulberry Corp. Limited

Rentokil Initial




Work highlights

  • Assisting MYTAXI PORTUGAL UNIPESSOAL with the implementation of a new business model consisting of the offer of e-hailing taxi services at contracted pre-determined rates.
  • Advising SEVEN ASSET on the transfer of shares of its Portuguese subsidiary Seven Telematics, Unipessoal.
  • Assisting RENTOKIL INITIAL PORTUGAL with the approval and registration of the changes to its board of directors.


CARDIGOS assists clients throughout the entire life-cycle of transactions, demonstrating particular experience in corporate restructuring matters. The team regularly advises on the incorporation of Portuguese subsidiaries and is also well versed in M&A deals. The practice is led by Porfírio Moreira and tax expert Sofia de Sousa Caetano, who are seasoned practitioners in corporate law and reorganisations.

Practice head(s):

Sofia de Sousa Caetano; Porfírio Moreira

Other key lawyers:

Maria Almeida Fernandes


Cardigos has a young, dynamic and proactive team with a lot of experience in the area of M&A. What distinguishes the firm is the proximity to the client.’

‘Agility in responses and excellent knowledge of the subject.’

‘Sofia de Sousa Caetano stands out for her work capacity and experience in M&A. She is always available to respond to clients’ problems and handles pressure well.’

‘Porfírio Moreira is extremely knowledgeable.’

Key clients

Apax Partners


Clidom Energy, S.L.

Cleerly, Inc.



Intrum AB

Intrum Portugal

Intrum Debt Finance

Beazley Group

XpoentVanguarda Unipessoal, Lda.


Work highlights

  • Assisted Clidom Energy in the incorporation of Clidomer, Unipessoal and its subsequent integration in the Portuguese market.
  • Advised Cleerly, a company focused on the development of medical software, on the incorporation of Cleerly, Inc, Sucursal em Portugal.
  • Provided legal assistance and performed all the necessary steps to implement a corporate restructuring of Intrum Group in Portugal which encompassed two mergers.

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

In addition to corporate law and M&A deals, CTSU - Sociedade de Advogados, S.P., R.L., S.A. has significant experience in corporate restructuring, spin-offs and the incorporation of companies across several sectors. The practice is often involved in cross-border transactions, acting in collaboration with other Deloitte Legal network firms. Mónica Moreira focuses on M&A and corporate reorganisations, while Sofia Carvalhosa's areas of specialism include the negotiation of international commercial contracts.

Practice head(s):

Mónica Moreira; Sofia Carvalhosa

Other key lawyers:

Miguel Koch Rua


‘It is a pleasure to work with this team. They demonstrate professionalism, diligence and availability at any time.’

‘Mónica Moreira stands out for her technical knowledge, availability, work capacity and collaboration with lawyers from the opposite side. CTSU has a partnership with Deloitte, which brings evident advantages.’

‘Miguel Koch Rua is one of the best lawyers I have worked with because of his professionalism, availability, and hard work.’

‘I would particularly highlight Miguel Koch Rua. He is a person with a high level of legal knowledge in various fields, especially in relation to Corporate and M&A who always acts in order to achieve success in any deal in which he intervenes and whose proximity and accessibility determines in many occasions the success of the matter.’

Key clients

Gesfimo – Espírito Santo Irmãos, SGFII, S.A.

Fairjourney Biologics, S.A.

Mais Sindicato do Sector Financeiro

Sindicato dos Bancários do Centro

Sindicato dos Profissionais de Seguros de Portugal

Sindicato dos Trabalhadores da Atividade Segurados

STELIA Aerospace S.A.S.

STELIA Aerospace Portugal, Unipessoal, Lda.

Corporación Hijos de Rivera, S.L.

Geriavi Portugal, S.A.

Domus VI

Colep Portugal, S.A.

SPDAD – Sociedade Portuguesa De Distribuição De Artigos De Desporto, Unipessoal, LDA

Empor Spirits, S.A.

URP URBAN RENEW – Projetos Imobiliários, SICAFI S.A.


Work highlights

  • Advised Deloitte Portugal on the sale of the assets held by Herdade da Comporta – Fundo Especial de Investimento Imobiliário Fechado, managed by Gesfimo, Espírito Santo Irmãos, SGFII.
  • Advised Fairjourney Biologics on the acquisition of 49% of the share capital of the company by GHO Capital, a leading UK private equity fund.
  • Assisted Hijos de Rivera (Estrella Galicia) in the acquisition of a relevant participation in the share capital of Fábrica de Cervejas Portuense, a mid-size craft beer maker known for its brand Nortada.

Espanha e Associados

Espanha e Associados is frequently involved in restructuring matters. It also provides ongoing advice to domestic and international clients on corporate governance, compliance issues and business expansions. Practice head Rita Beirôco focuses on commercial contracts, but is also experienced in transactional work, including mergers, acquisitions and disposals.

Practice head(s):

Rita Beirôco

Other key lawyers:

Mafalda Palma


The team is able to advise us in all areas of law and is always available. I highlight Rita Beirôco and Mafalda Palma.’

Its proximity to the client is superb.’

Key clients

Portugália Group

BNP Paribas Portugal Group

Fitness Hut, SA

Hoteis Dom Carlos Group

Winsig – Soluções de Gestão, SA

Coimbralimentar – Armazenista de Produtos Alimentares, Higiene e Limpeza S.A.

I. T. H. – Sociedade de Investimentos Turísticos e Hoteleiros S.A.

PEIPEN – Produtos Alimentares, S.A.

SORIMIN – Compra E Venda De Imóveis, S.A.

IT People – Consultores, S.A.

Belphar, LDA

Lusitânia – Companhia de Seguros S.A.

TCSI – Digibéria Tecnologias de Informação, S.A.

Agrosistema-Sociedade Luso-Alemã de Engenharia Agricola e Industrial, Sociedade Unipessoal, LDA

IVO-Cutelarias, SA

Companhia Internacional de Comércio de Ar Condicionado, Ventilação e Frio Industrial – Interfrimec, S.A.


MGRA SP RL offers ongoing advice to a diverse client roster covering corporate law, governance issues and M&A transactions. The practice is well versed in corporate reorganisations, commercial agreements and joint ventures. Key individuals include Helga Lopes Ribeiro and António Mouteira Guerreiro, who jointly co-ordinate the corporate department.

Practice head(s):

Helga Lopes Ribeiro; António Mouteira Guerreiro

Other key lawyers:

Bruno Lobato


‘Great experience and knowledge has been shown when providing services.’

Key clients

Dahlman Industrial Group B.V.

Alphaserve Technologies Group

Ray Allen, INC


Greenalia Group


RTS Atlantic

Hotusa Group

Bulgaria Air

Pollet Water Group

Sanjam Group



Clinica Sante


Work highlights

  • Advised Dahlman Industrial Group on the sale to Porvair.
  • Advised Alphaserve Technologies on the sale of the group (Portuguese subsidiary) to Eze Castle Integration.
  • Assisted OTLIS in the relevant agreements for the mobility and ticketing for multi-modal transport in Lisbon (EU Mobil.T project).

NGA Advogados

NGA Advogados is engaged by clients from a wide range of industries, demonstrating particular expertise in relation to the energy, manufacturing, IT and pharmaceutical sectors. The team counts corporate restructuring, joint ventures, cross-border mergers and acquisitions among its core areas of activity. Stand-out individuals include head of department Luís Nobre Guedes and João Valbom Baptista, who are also retained by private equity and investment funds.

Practice head(s):

Luís Nobre Guedes

Other key lawyers:

João Valbom Baptista


‘It is a law firm with professionals who are always accessible and have knowledge in different areas. Luis Nobre Guedes is recommended.’

‘Competence and reliability. Ease of contacts with lawyers.’

‘We have been working very well with João Valbom Baptista.’

‘Superior professionalism, permanent availability and care in monitoring the processes of clients.’

Key clients

Albatross Mountain

AON group


Saipem S.p.a.


Veolia Environment

Media Capital Group

FAI Portugal Ventures

Siftal Group

Laboratório São José

Work highlights

  • Assisted ALBATROSS MOUNTAIN in the sale of Laboratórios São José (€6.5m).
  • Advised EUROPHARMA on the negotiation and drafting of two major contracts for the sale of medical devices and hospital equipment, such as surgical masks and ventilators, in the context of the Covid-19 crisis.
  • Advised IKAROS and its shareholders on the sale of one of its Portuguese companies.

pbbr - Sociedade de Advogados RL

pbbr - Sociedade de Advogados RL is predominantly involved in corporate and M&A matters pertaining to the real estate sector. The team assists domestic and international clients in a range of transactions, including disposals, acquisitions, joint venture agreements and corporate restructuring. Pedro Pinto and Alexandre Jardim are retained by funds, investors and developers on a range of M&A deals involving the real estate sector.

Practice head(s):

Pedro Pinto; Alexandre Jardim

Other key lawyers:

Teresa Freire; Marco Pereira Cardoso

Key clients

Bouygues Immobilier


ECS Capital

Stone Capital

Signal Capital Partners

Cushman & Wakefield


Groupe Atenor


Keys Asset Management

Louvre Capital

GMG – Geneva Management Group

Groupe Terrésens

Rockstone Real Estate

MDSR Investments

Work highlights

  • Assisted Stone Capital in a new investment in a real estate development project.