Commercial, corporate and M&A in Portugal
Linklaters focuses on high-end M&A relating to the Portuguese market either on a standalone or multi-jurisdictional basis. Clients seek the corporate team's advice on all aspects of their key transactions, covering cross-border mergers, private equity acquisitions, divestments, privatisations, corporate restructurings as well as joint ventures, leveraged acquisitions and fund formation. The department has a strong track record acting for international funds and corporations across several industry sectors, such as banking and finance, real estate, insurance, energy and natural resources. Marcos de Sousa Monteiro leads the team, which is increasingly gaining traction in matters involving other Portuguese-speaking countries, notably Angola and Mozambique. Diogo Plantier Santos often takes on a coordinating role on complex corporate transactions, and has extensive experience in real estate M&A matters as well as asset management.
Marcos de Sousa Monteiro
China Three Gorges (Europe), S.A.
ROADIS Transportation Holding, SL
Permira Asesores, S.L.U.
King Street Capital Management, LP
Novo Banco, S.A.
BNP Paribas Personal Finance
ECS – Sociedade de Capital de Risco, S.A.
Luz Saúde, S.A. (Fosun Group)
Magnum Industrial Partners
Ocidental – Companhia Portuguesa de Seguros de Vida, S.A. / Ageas Group
- Assisted OYAK on the acquisition of 100% of the share capital and voting rights of Cimpor Portugal and its subsidiaries from InterCement.
- Advised Permira on the acquisition of Laureate’s high education institutions in Spain and Portugal.
- Advised Mirova Eurofideme 4 on the acquisition of a stake of 90% of the issued shares and shareholder loans of Hydrocontracting Portugal – Companhia Portuguesa de Desenvolvimento Energético and HDR – Hidroelectrica.
Morais Leitão, Galvão Teles, Soares da Silva & Associados offers cross-practice advice in relation to the full gamut of corporate and M&A matters, ranging from cross-border transactions, such as mergers, spin-offs, transformations and acquisitions to partnership agreements and joint ventures. Other areas of activity include incorporations, corporate restructuring, dissolution as well as the winding up of companies. Drawing upon strong alliances with leading law firms across Portuguese-speaking countries, the department advises clients operating in a variety of sectors, fielding extensive expertise in the electricity, natural gas and renewable energy sectors. Private equity expert Tomás Vaz Pinto leads the practice alongside Eduardo Paulino, who, apart from focusing on M&A, public offerings and privatisations, also has experience assisting equity funds on the setting up of operations. Other key practitioners include the well-known Carlos Osório de Castro, whose areas of expertise include capital markets and M&A, and Nuno Galvão Teles, who has been involved in some of the major privatisation transactions in the country. The law firm also houses a multi-disciplinary group, team genesis, dedicated to addressing the disruptive business models of emerging companies and providing legal support to the founders and investors of scalable start-ups; Luís Roquette Geraldes oversees this team.
Tomás Vaz Pinto; Bernardo Lobo Xavier; João Alfredo Afonso; Eduardo Paulino
‘I would highlight the great professionalism, technical quality and high level service of Morais Leitão (MLGTS). The MLGTS team has demonstrated an extraordinary ability to look for and find solutions to complex and unexpected legal and technical problems that arose.’
‘Excellent lawyers throughout the firm, who are technically strong, proactive and responsive.’
‘Very good lawyers, both from a technical point of view, as from a client perspective. The team is very focused and knowledgeable, and understands clients’ concerns and the full picture of the situation.’
‘Eduardo Paulino is a very impressive and intelligent lawyer. He is able to work seamlessly in cross-border transactions and a pleasure to work with.’
‘Segismundo Pinto Basto is probably the best commercial lawyer I ever met in Portugal – very complete in all areas. He is extremely serious, loyal and technically faultless.’
‘Associate Luís Roquette Geraldes is a great lawyer. Francisco Vieira de Almeida is a rising star.’
‘Luís Roquette Geraldes was a key element who helped close the successful transaction. His in-depth knowledge, practical experience and availability are worth a mention.’
- Advised Assicurazioni Generali on the context of an auction process for the €600m purchase of Seguradoras Unidas and AdvanceCare.
- Advised Fundação Calouste Gulbenkian on the sale of Partex to PTT Exploration and Production, a Thai public oil exploration and production company.
- Represented Abanca in the context of the acquisition of the private and commercial clients’ business of the Portuguese branch of Deutsche Bank.
PLMJ undertakes the complete range of transactional and corporate law work, and is often involved in some of the most high-profile M&A deals in Portugal and other Portuguese-speaking countries. The department has extensive expertise in key sectors, namely energy, transport, construction, insurance, pharmaceuticals, telecoms and banking. Leading the team is Diogo Perestrelo, whose specialisms include M&A and private equity, and Duarte Schmidt Lino, who is also experienced in corporate governance and venture capital. Luís Sáragga Leal heads an international projects team, which focuses on providing legal assistance in relation to cross-border operations. The team was strengthened by the arrival of Filipe Avides Moreira from Cuatrecasas, who brings to the table a wealth of experience in M&A, venture capital deals and corporate restructuring. Maria João Ribeiro Mata left for Miranda & Associados in 2019.
Diogo Perestrelo; Duarte Schmidt Lino
‘This is the law firm in Portugal where I find an answer to my legal matters, be it at a professional or personal level. The team I work with is always available, professional, committed and knowledgeable.’
‘PLMJ provides complete, adequate and efficient timely responses.’
‘Long experience in M&A processes and strong negotiation skills.’
‘There is a vast pool of talent that delivers work on time.’
‘Good technical knowledge, customer oriented services and highly flexible team.’
‘Diogo Perestrelo is a trustworthy counsellor and knowledgeable lawyer in this area. He is respected as one of the leading commercial lawyers in Portugal. Always straightforward, he can be both tough or amicable. I’ve witnessed his work with large and small companies, local or foreign, and would definitely recommend him and his team.’
‘Bárbara Godinho and Pedro Gaspar are both truly excellent professionals.’
‘Pedro Gaspar is a very clever lawyer, with an outstanding attention to detail.’
‘Filipa Cotta is always available and has in-depth knowledge of the market.’
‘Bárbara Godinho Correia’s efficiency and client care skills are second to none.’
Azul Linhas Aéreas Brasileiras
- Provided legal advice to Morgan Stanley Infrastructure Partners in the €650m acquisition of the passive infrastructure business of MEO, a wholly owned subsidiary of Altice.
- Represented Ardian Group in the €900m acquisition of Ascendi PT, SGPS and Ascendi, SGPS, which hold five motorway concessions.
- Advised DGN Corporation / Azul Linhas Aéreas Brasileiras on the acquisition of the shareholdings indirectly held by the Chinese group Hainan Airlines Holding Co., Ltd. in Atlantic Gateway SGPS.
Uría Menéndez – Proença Carvalho offers a blend of international and local expertise, handling the full range of corporate and M&A matters across a variety of sectors, including telecoms, energy, transport and real estate, among others. The practice group works closely with the tax department, providing legal support to domestic and international banks, financial institutions and large and medium-sized commercial or industrial companies. Antonio Villacampa has substantial experience in coordinating multi-jurisdictional transactions. Corporate restructuring and private equity deals are some of Francisco Brito e Abreu's areas of expertise. Catarina Tavares Loureiro is another key practitioner, who regularly advises on corporate governance, joint ventures, shareholder disputes and restructuring matters. Jorge Brito Pereira left the firm in 2020.
Duarte Garin; Antonio Villacampa; Francisco Brito e Abreu
‘Strong team of great negotiators who are capable of delivering good quality and efficient services.’
‘The dedicated and experienced team strives to adress clients’ business needs and find the best solutions accordingly.’
‘The team has total availability and demonstrates the capability to find practical solutions for the success of a transaction, following them through to closure.’
‘Joana Torres Ereio is able to easily understand commercial and financial aspects of transactions.’
‘Duarte Garin and Rita Xavier de Brito are also recommended.’
REN – Redes Energéticas Nacionais, SGPS, S.A.
Altice NV / MEO – Serviços de Comunicações e Multimédia, S.A.
Altamira Asset Management, S.A.
Alantra Capital Privado SGEIC, S.A.U.
Banco Santander, S.A. / Santander Asset Management
Global Notícias – Media Group, S.A.
Viajes Barceló, S.L.
Miya Water (Arison Investments Group)
Financial Technology Partners LP
Advanced Finance and Investment Group LLC
Banco BIC Português, S.A.
Bankinter Consumer Finance, S.A.
King Street Capital Management
Joint venture The Carlyle Group and Explorer Investments
Amundi Asset Management
Aquila Capital Real Assets Investment Verwaltungsgesellschaft mbH
AGS – Administração e Gestão de Sistemas de Salubridade, S.A.
Lindorff Holding Spain, S.A.U.
- Acted as legal counsel to InterCement Portugal on the sale of its operations in Portugal and Cape Verde to the Oyak Group.
- Assisted Grosvenor Group Limited in relation to the sale of a shareholding in Sonae Sierra, SGPS to Sonae SGPS.
- Advised AGS- Administração e Gestão de Sistemas de Salubridade on the acquisition of a majority stake in Aquasis – Sistemas de Informação, a company engaged in the development of technology for companies managing water supply and/or wastewater sanitation systems.
The M&A, corporate and governance team at VDA regularly acts on big-ticket deals and is particularly active in the infrastructure, education, energy and real estate sectors. With an increasingly relevant presence in the private equity sector, the law firm offers advice on the entire range of corporate and M&A matters, including acquisitions, mergers and joint ventures as well as corporate restructurings and privatisations. Practice head Jorge Bleck has extensive experience in cross-border deals, while co-leader Paulo Olavo Cunha is noted for his in-depth knowledge of corporate law. Managing partner João Vieira de Almeida's areas of expertise encompass joint ventures and private equity. Other names to note include Claudia Cruz Almeida, who often advises on corporate acquisitions and disposals, privatisations and complex reorganisations, and Helena Vaz Pinto, who has an extensive track record in private equity and venture capital deals.
Jorge Bleck; Paulo Olavo Cunha
‘I found a high level of quality, expertise and dedication. The team was cohesive in the different areas involved in the transaction.’
‘The technical quality, the cohesion of the team and the ability to collaborate to find solutions to benefit the efficient progress of the transaction are some of VdA’s strengths.’
‘VdA fields a very responsive and commercially driven team.’
‘Strongly skilled team which has the ability to structure complex transactions. Lawyers are very knowledgeable, result-oriented, and good problem solvers with a strong “business” approach.’
‘The firm is reliable, available and respects deadlines.’
‘Good attention to detail and strong experience in the African and Asian markets make VdA stand out.’
‘A special reference should be made to Helena Vaz Pinto, Maria Cunha Matos, Inês Gomes Ferreira and Maria Leonor Piconez.’
‘Paulo Trindade Costa provides high-quality and timely advice.’
‘Maria Cunha Matos is adept at understanding matters from a client perspective.’
MEO – Serviços de Comunicação e Multimédia
Porsche Holdings GmbH
Certares Management LLC
Carlsberg Breweries A/S
Banco Comercial Português, S.A.
Caixa Geral de Depósitos, S.A.
Novo Banco, S.A.
Inspired Education Ltd. / Park International School
First State Investments
SOCER – Imobiliária
Avis Budget EMEA Ltd.
Seguradoras Unidas, S.A.
- Advised Altice Europe through its subsidiaries MEO – Serviços de Comunicações e Multimédia and PT PORTUGAL SGPS on the sale of equity stakes in its telecoms tower businesses in Portugal.
- Advised Porsche Holdings GmbH on the acquisition of SAG, SGPS’s automobile business, through the purchase of its relevant subsidiaries SIVA and Soauto.
- Advised Certares Management LLC, a US private equity management company, on the subscription of an increase in the share capital of the Portuguese company MysticInvest Holding.
Corporate and M&A is a core area of practice at Abreu Advogados, which advises on both transactions conducted in Portugal and cross-border deals. The department is specialised in key industry sectors for the Portuguese and African economies, such as real estate, banking, IT, life sciences and natural resources. Handling competition aspects of a transaction, providing regulatory advice and assisting in the incorporation of investment funds are other areas of activity for the team. Leading the group is Ana Sofia Batista, who has particular expertise in private equity transactions, and José Maria Corrêa de Sampaio, who has led on several complex M&A deals in Portugal, Angola and Mozambique. Manuel Santos Vítor joined the firm from PLMJ, strengthening the team's corporate governance, reorganisations and restructuring offering.
Ana Sofia Batista; José Maria Corrêa de Sampaio; Paulo de Tarso Domingues
‘Abreu has a very wide, prepared and complete team of lawyers which give clients the best and most accurate legal and commercial advice in the day-to-day business of companies.’
‘Abreu Advogados delivers outstanding solutions, both in a prompt and professional manner. The team’s analysis exceeded what was expected, which helped in the progress of the transaction.’
‘The firm is always leveraging on internal knowledge in order to tackle issues that may arise.’
‘António Pina is one of the best Portuguese lawyers I have ever met and worked with.’
‘Manuel Santos Vítor is highly knowledgeable about corporate law.’
‘António Pina has been my first line of contact and at all times he has been 100% professional, efficient and prompt in his delivery. He is also incredibly thorough.’
‘António Pina is an incredibly talented lawyer, with outstanding professional and personal skills. Some of his strengths are his attention to detail and speed of response under tight schedules.’
‘Patricia Viana is a highly experienced partner and is a game changer in complex transactions.’
Caixa General de Depósitos
Greenbay and Resilient
- Advised FREY in the acquisition of Algarve Shopping & Albufeira Retail Park, one of the main shopping centres in the Algarve region, from IberiaCoop.
- Represented Michael Kors in the restructuring of the group shareholding, implementing the Portuguese steps of the project.
- Acted for Biosurfit in a co-investment capital investment operation involving the Swedish company Boule Diagnostics; this was the first investment operation in Portugal of the fund managed by PME Investimentos since the announcement of its launch.
Campos Ferreira, Sá Carneiro & Associados
Campos Ferreira, Sá Carneiro & Associados provides advice to major players in the Portuguese and international markets, which operate in a wide range of industry sectors. The department fields strong links to leading international firms, acting as local counsel in several corporate and M&A matters with a cross-border element.
With a strong track record in the private equity and venture capital markets, CMS regularly advises on both domestic and multi-jurisdictional M&A transactions, while also offering assistance in relation to clients' commercial activities and restructuring of their businesses in Portugal. Francisco Xavier de Almeida leads the team; he focuses on privatisations, M&A and corporate finance. Co-head João Caldeira often heads multi-disciplinary teams on cross-border deals, and has specialist knowledge in corporate restructuring, risk capital and joint ventures.
João Caldeira; Francisco Xavier de Almeida
Amorim Luxury Group
FCE Bank plc
ANV Global Services Ldt.
Mercedes-Benz Financial Services Portugal – Sociedade Financeira de Crédito, S.A.
- Assisting Miguel Barreto Caldeira Antunes on the sale of 100% of the share capital of Goldenalco, Lda to Galp Power.
- Advising Crest I-Fundo Capital de Risco in the purchase of a major shareholding of Global Fire Equipment, a manufacturer of electronic systems of fire detection.
- Advised UBS on the acquisition of a stake of 100% of Energyco II and its subsidiaries, notably Gascan.
Cuatrecasas is sought after by clients with global operations in relation to their domestic operations and cross-border transactions in the corporate and M&A field. Drawing upon strong relationships with the firm's other offices across the globe, the department works closely with other practice groups, including finance, tax and labour, providing full-service advice to ensure efficient closure of deals. Mariana Norton dos Reis, who advises on Portuguese and Spanish law focusing on M&A, joint ventures, private equity and restructurings, is now heading the practice group, which also counts José Diogo Horta Osório, who has extensive experience acting for clients from the energy, infrastructure and transport sectors. Luís Soares de Sousa is another name to note for work pertaining to M&A, joint ventures and private equity transactions. The team's Porto office has recently undergone some changes: José De Freitas retired in August 2019, while Filipe Avides Moreira departed to PLMJ.
Mariana Norton dos Reis
‘Cuatrecasas is overall competitive and consistent. They have very good lawyers and reasonable fees. Also, they have quickly understood and adapted to our needs and expectations.’
‘They are flexible and easy to work with.’
‘João Mattamouros Resende and João Funcke stand out for their insight, experience, know-how, availability (email or mobile phone), technical skills and personality. Their obvious qualities and strengths have been an added value in order for us to achieve our goals.’
MSC – Mediterranean Shipping Company
CBRE – Corporate Outsourcing
- Advising Deka on the acquisition of a company owning a trophy office building in Lisbon, in the total amount of €125m.
- Advising Xior Group on structuring, negotiation and acquisition of a group of companies developing student residencies in Portugal.
- Advising Acciona Group on its expansion into the Portuguese market, including several acquisitions and developments of real estate projects in Lisbon, with an investment above €100m.
Backed up by specialist expertise across a global network, DLA Piper ABBC offers a combination of domestic and international resources to large multinationals, private equity players and financial institutions in a multitude of corporate and M&A matters. The department advises clients from a wide array of industry sectors, but shows particular strength acting in deals pertaining to the financial and energy sectors, as well as private equity and venture capital. Nuno Azevedo Neves co-leads the department, and often advises on cross-border transactions and privatisations. The team is also overseen by João Costa Quinta, who often acts for major firms in the private equity market.
Nuno Azevedo Neves; João Costa Quinta
‘The team at DLA Piper ABBC is results oriented and has great analytical skills.’
‘With extensive expertise in the field, the team is extremely pro-active and committed to achieving the best of results on behalf of clients.’
‘Some of the firm’s strengths are its immediate availability and technical competence.’
- Advised EDP Renováveis in all legal matters related with the public tender offer announced by China Three Gorges on EDP – Energias de Portugal and EDP Renováveis.
- Assisting CUBE II Communications in its investment in DST Telecomunicações, SGPS, a holding company which is a major player in the Portuguese telecom market.
- Advised OGER, SGPS on the sale of the entirety of the shares of a holding company (Prime Yield) in the real estate consultancy sector which was acquired by the Spanish entity, BIVALTASA GLOVAL ADVISORY.
Garrigues undertakes the full range of corporate and M&A matters, advising clients from a variety of industry sectors, namely real estate, IT, construction and finance. The team has been particularly active assisting with transactions pertaining to the energy sector, and has also been involved in some of the most relevant matters in the insurance market. Capital markets and M&A expert Diogo Leónidas Rocha leads the practice group alongside Mário Lino Dias, who has extensive experience in all kinds of corporate transactions, venture capital and joint ventures. Co-head Susana Pimenta de Sousa has in-depth knowledge of corporate law and domestic and cross-border M&A. The service offering in Porto was reinforced with the arrival of Tomás Pessanha and a team of five other lawyers (including Manuel Liberal Jerónimo) from PLMJ, who bring a solid track record in corporate law and high-profile M&A.
Diogo Leónidas Rocha; Mário Lino Dias; Susana Pimenta de Sousa; Marta da Graça Rodrigues
‘The team is very knowledgeable, provides prompt responses, and full availability.’
‘The Garrigues Oporto office is very well-connected within the Portuguese Market. It fields very strong M&A capabilities.’
‘Outstanding communication with other departments and other Garrigues’ offices.’
‘The team’s know-how, expertise, availability and negotiations skills make Garrigues stand out.’
‘Tomás Pessanha works closely with the client and is always looking for business oriented solutions.’
‘Manuel Liberal Jerónimo is also a great lawyer. He is very professional and dedicated to clients.’
‘Mário Lino Dias is a very experienced partner, he is always thinking ahead and focused on achieving the best outcome for his client.’
‘Mário Lino Dias is a lawyer with a great working ethic and his client care skills are second to none. His technical knowledge is exceptional, always takes clients’ best interests into consideration. I would recommend him for any M&A transaction.’
Alert Life Sciences Computing
Allianz Capital Partners
Altaya (Castel Group)
Atena Capital Partners
Banco Santander Totta
Baupost Group LLC
Delta Cafés Group
Galro Resort Hotels
Global Bankers Insurance
JP Morgan Asset Management
Vallis Capital Partners
- Advised Global Bankers Insurance Group in its €190m acquisition of GNB Vida, a leading company in the Portuguese life insurance sector and one of the main non-core assets of the Novo Banco group.
- Following its acquisition of Eurovida and Popular Seguros as a result of the resolution of Banco Popular, Garrigues advised Banco Santander Totta in the sale of the respective life and non-life insurance businesses to the joint ventures set up in 2014 with Aegon.
- Advised Société Générale on its acquisition of BBVA Automercantil’s vehicle renting portfolio in Portugal, simultaneously assisting it with setting up a distribution partnership targeting both BBVA’s corporate and individual customers.
SLCM | Serra Lopes, Cortes Martins & Associados is not only noted for its advice in relation to transactional work, but also for its corporate follow-up services, providing legal support throughout the entire lifecycle of a company. Department head Luis Miguel Cortes Martins has extensive experience in domestic and cross-border transactions, as well as privatisations and capital markets. The practice is also under the leadership of Martim Anahory and Rafael Lucas Pires, who is proficient in M&A, corporate finance and company law. Alexandra Martins is a name to note for complex M&A and capital markets deals.
Luis Miguel Cortes Martins; Rafael Lucas Pires; Martim Anahory
‘The team is always very proactive. Lawyers come up with innovative ideas and solutions to solve the existing problems.’
‘Alexandra Martins, Ana Guedes Teixeira and Rafael Lucas Pires are exceptional.’
‘SLCM has a very strong ability to quickly provide a solution to an unexpected legal problem and have an operation successfully concluded.’
‘Partner Rafael Lucas Pires is an expert in negotiations. Associate Ana Guedes Teixeira is adept at clearing out any legal obstacles. Associate Carolina Martins Correia works closely with the client to reach the best outcome.’
Nutrinveste Group (Sovena/Elaias sub-groups)
China Three Gorges
Jose de Mello Capital
José de Mello Saúde
ATM – Assistência Total em Manutenção
Sociedade Central de Cervejas – SCC (Heineken Group)
- Acted as China Three Gorges’s local counsel in the tender offers preliminary launched in 2018 over EDP and EDP Renováveis.
- Represented IBERFAR in the setting up of a joint venture in the pharmaceutical products logistics and warehousing sector with ALLIANCE HEALTHCARE.
- Advised Fundo de capital de Risco Novo Banco Capital Growth in CESL Asia’s acquisition of Saltiproud, holding company of Monte do Pasto Group, engaged in the agribusiness sector.
SRS Advogados provides legal support to international companies investing in Portugal and Portuguese-speaking countries as well as domestic companies in relation to corporate, M&A, commercial and regulatory matters. The practice is under the joint leadership of Octávio Castelo Paulo, whose areas of activity encompass privatisations, private equity and joint ventures, and William Smithson, who often advises large international companies and private equity firms on their cross-border operations. Fielding particular expertise in the TMT and energy sectors, the firm has developed a specialised private equity and venture capital team, for which Gustavo Ordonhas Oliveira and Alexandra Valente are the names to note. The firm has also established a sub-department focused on startups, and a group dedicated to the internationalisation of companies into Africa.
Octávio Castelo Paulo; William Smithson
‘Excellent team with strong commercial knowledge and practical insights.’
‘Very capable of moving effortlessly between black letter law and vital “why it matters” analysis.’
‘A testament to the strength and depth of the Portuguese legal market. The team is super competent and always available.’
‘Gustavo Ordonhas Oliveira, Octávio Castelo Paulo and Pedro Rebelo de SousaI are recommended.’
‘I can’t recommend Paulo Bandeira enough – he is very responsive, professional and brings in whoever can solve the specific problem at hand.’
Joaquim Chaves Saúde
J.P. Sá Couto, S.A.
- Advising Cabot Square Capital as seller on the sale of 321 Crédito (a Portuguese bank) to Banco CTT in the context of an organized competitive bidding process.
- Advising EGEO Group on the divestment of part of the business of EGEO Tecnologia e Ambiente relating to non-hazardous waste treatment and real estate.
- Advising China Datang as purchaser on the acquisition of Generg, one of the leading Portuguese renewable energy groups operating solar plants, wind farms and hydro projects with plants and operations located in several European jurisdictions.
Caiado Guerreiro has the ability to put together multi-disciplinary teams which accompany the client throughout the entire life-cycle of matters, from due diligence to negotiation and closing of transactions. The firm showcases experience in acquisitions, mergers and joint ventures across different industry sectors, and also excels in obtaining special grants and tax exemptions for investments. João Caiado Guerreiro, who has significant knowledge in complex cross-border matters, oversees the practice alongside Ricardo Rodrigues Lopes, whose areas of activity include corporate restructuring and disposals.
João Caiado Guerreiro; Ricardo Rodrigues Lopes
‘The team has an extensive and wide knowledge for both tax and trade related concerns.’
‘The lead partners have extensive proven knowledge in corporate.’
‘The young, focused and motivated team provides efficient and proactive responses.’
‘João Caiado Guerreiro is noted for his experience in the field, availability and interpersonal skills.’
‘I would recommend Ricardo Rodrigues Lopes for the quality and promptness of his advice.’
Inventum Beheer, B.V.
Citsvs Center (Portugal), S.A.
Lennox International Inc.
Aimia Loyalty Analitics
- Assisting Inventum Beheer with the acquisition of a majority stake in Metalurgia Videira, a Portuguese company active in the water heater manufacturing business, both for industrial and home purposes.
- Assisted the Chinese authorities with the incorporation of a company in Portugal (CITSVS CENTER), intended for supporting the activity of the Embassy of the People’s Republic of China in Portugal.
- Assisted Aimia in the Portuguese aspects of a group restructuring and on Portuguese matters related to the proposed sale of a part of Aimia’s Loyalty Analytics business.
The corporate and M&A team at FCB Sociedade de Advogados is experienced in performing due diligence in relation to national and cross-border acquisitions, divestitures and privatisations. Rodrigo Almeida Dias's core areas of practice include the full scope of corporate, commercial and transactional work, while Pedro Guimaraes is well versed in cross-border M&A as well as corporate restructuring on behalf of clients from the technology and energy sectors. Multi-jurisdictional matters are also one of Gonçalo da Cunha's strengths.
Gonçalo da Cunha; Rodrigo Almeida Dias; Pedro Guimarães
Borges International Group
Viva Gym Group / Fitness Hut
- Assisted Nacala Holdings in acquisitions of companies in the construction, real estate and engineering sectors.
- Advised Viva Gym, the low-cost gym business backed by Bridges Fund Management, on the acquisition of Portuguese gym chain Fitness Hut from Edge Capital and OxY Capital.
- Assisted Hewlett-Packard in a corporate restructuring involving companies based in Portugal and other jurisdictions.
Gómez-Acebo & Pombo
Gómez-Acebo & Pombo is noted for its international approach and specialised advice in highly regulated sectors. The team undertakes a range of transactional work and also offers legal support to a predominantly international client base on their day-to-day activities. Practice head Mafalda Barreto regularly advises on cross-border transactions with a special emphasis on the infrastructure, energy and telecoms industries. Co-head Miguel de Avillez Pereira is also experienced across corporate, commercial and private equity matters, and has specialist knowledge in commercial law in Angola and Mozambique.
Mafalda Barreto; Miguel de Avillez Pereira
‘Exceptional team, which is always available, flexible and often proposes innovative solutions to legal issues.’
‘A team that, although young, is already quite experienced in this area.’
‘Laywers are always available to find a solution that benefits both parties, without compromising the closing of the deal.’
‘Mafalda Barreto and Luísa Carrilho da Graça are exceptional lawyers.’
‘Mafalda Barreto works hard to successfully close transactions.’
‘We have had an excellent experience with all the lawyers with whom we have had contact, mainly with Mafalda Barreto and Inês de Sousa Godinho.’
Taisho Pharmaceutical Holdings Co.
Laureate Education, Inc.
Cubico Sustainable Investments Ltd
- Advised Laureate on the sale of its high education institutions in Spain and Portugal to Permira for €770m.
- Acted for Taisho Pharmaceutical Holdings on the acquisition of the French over-the-counter drug maker UPSA from Bristol-Myers Squibb.
- Advising Cubico on the acquisition of three operational, fixed-tilt, ground-mounted solar PV projects with a guaranteed feed-in tariff located in the Algarve, Portugal, from CEF Energia Ibérica.
Following the recent merger with Anselmo Vaz, Afra & Associados - Sociedade de Advogados, R.L, Sérvulo & Associados is well equipped to advise on all areas of corporate and commercial law, including commercial contracts, acquisitions, joint ventures, other transactional agreements as well as pre-litigation matters. Teresa Alnselmo Vaz, who is particularly experienced acting for clients in the telecoms, pharmaceuticals and energy sectors, joined as a result of the merger and is now leading the department alongside Sofia Carreiro. Apart from focusing on matters relating to corporate and commercial law, Rui Cardona Ferreira boasts cross-practice expertise in areas such as public law, regulatory matters and dispute resolution.
Sofia Carreiro; Teresa Anselmo Vaz
‘Resilient and hard-working team.’
‘Very good team, always available to discuss any issue and to deliver on agreed timing.’
‘Availability and detailed knowledge of sector-related regulation; always cautious to adapt their legal analysis to the concrete needs and business of the client.’
‘Proactive team in identifying and communicating all the new legal developments which could affect our organisation.’
‘Teresa Anselmo Vaz is a great partner and a trusted advisor. She consistently looks to find the best solutions to achieve clients’ objectives.’
‘Sofia Carreiro’s advocacy skills are outstanding.’
Galp Gás Natural Distribuição
Fresenius Medical Care Group
Frotcom International, Lda.
Banca Farmafactoring, SpA
Key Family Holding Investimentos e Consultoria de Gestão, Lda.
Portuguese State (Direção-Geral do Tesouro e Finanças)
Lisbon Cruises Port
- Legal assistance in connection with the purchase of St. Jude Medical Group, at an international level, and the merger of both Abbott’s and SJM’s corporate structures in Portugal in a £25bn worldwide deal.
- Advised Galp Gás Natural Distribuição on the acquisition of Tagusgás – Empresa de Gás do vale do Tejo and its subsidiary Tagusgás Propano.
- Advised Scenic tours on all legal matters, namely on the negotiations and drafting of all legal agreements necessary to implement its activity in Portugal.
AAA Advogados undertakes a variety of M&A and corporate matters, namely acquisitions, mergers and joint ventures. Dulce Franco demonstrates expertise across transactional work, contracts and private equity, while Gabriela Rodrigues Martins is also well versed in privatisations. Vitor Pereira das Neves is able to offer multi-disciplinary advice, covering areas such as corporate finance, capital markets and arbitration.
Dulce Franco; Gabriela Rodrigues Martins; Vítor Pereira das Neves; Anabela Gonçalves Ferreira
‘Small company with appropriate client attention, reasonable fee structure considering market and covering all legal requirements.’
‘Great commercial sense and vast knowledge compared to many lawyers.’
‘Very knowledgeable, flexible, efficient team.’
‘AAA offers great quality advice. The firm is able to provide a more personalised service and maintain close relationships with clients when compared to other bigger firms operating in the market.’
‘The team has in-depth sectorial knowledge.’
‘José Jacome proved to be the perfect fit to us as clients.’
‘Anabela Ferreira is an outstanding lawyer, especially in what comes to strategic thinking, quick turnaround and advice.’
‘Dulce Franco knows how to address clients’ needs.’
‘Anabela Gonçalves Ferreira and Miguel Reis de Cavalho provide cross-sectional support and are able to handle highly complex matters.’
‘Apart from his technical knowledge, Tiago Meira understands the market and clients’ business orientation.’
Rubis Energia Group
Cesl Asia Group
- Advised Rubis Energia on the acquisition of the GPL business of Repsol in Madeira and Azores.
- Advised Cesl Asia on the acquisition of the Monte do Pasto Group and related financial arrangements.
- Advised Turismadeira on the sale of Double Tree by Hilton Lisbon – Fontana Park hotel to CRDT.
The corporate and M&A team at CARDIGOS provides multi-disciplinary assistance throughout every stage of transactions undertaken by clients, while also offering assistance in relation to corporate restructuring. Porfírio Moreira showcases experience in business reorganisations involving private and state-owned companies; Sofia de Sousa Caetano is adept at advising on spin-offs and corporate joint ventures. Arbitration and regulatory litigation are particular areas of interest for Pedro Moniz Lopes.
Sofia de Sousa Caetano; Pedro Moniz Lopes; Porfírio Moreira
‘Cardigos’ lawyers have thorough technical knowledge combined with in-depth approach to the client and its business. They work all as a team, adding value to the client with a comprehensive understanding of the situations and of the client’s needs.’
‘Porfírio Moreira is a problem solver. He is very client focused and a trustworthy advisor. Even if a question is asked on an issue outside his field of expertise, he will find the way to solve the problem.’
‘Maria Almeida Fernandes’ thorough technical skills and solution-oriented approach are noteworthy.’
Intrum Justitia AB
Intrum Justitia Portugal
Clidom Energy, S.L.
Intrum Justitia Debt Finance
Janssen Farmaceutica Portugal
- Assisted Intrum Justitia Portugal in connection with the acquisition of the entire share capital of SGPU, followed by a merger by incorporation.
- Provided legal support to Clidom Energy regarding the incorporation of Clidomer, Unipessoal and its subsequent integration in the Portuguese market.
- Advised Beazley Group by providing Portuguese law advice in relation to the warranty and indemnity insurance agreement in the context of the acquisition of Parque Eólico do Pisco by Ikea Portugal – Móveis e Decoração.
With an increased focus on supporting the internationalisation of clients, CCA Law Firm's multi-disciplinary team handles a variety of corporate and M&A matters, namely cross-border transactions as well as share and asset deals. The firm's service offering also includes the "startinnovation" practice, where cross-practice experts come together to provide specialised assistance to startups, SMEs and investors. Domingos Cruz is regularly involved in multi-jurisdictional transactions, while Sara Reis, who made partner in 2020, is experienced across mergers, privatisations and acquisitions linked to Portugal and Africa. Rita Trabulo is another name to note for corporate and M&A work.
Sara Reis; Domingos Cruz
Procter & Gamble
L’Occitane en Provence
A Padaria Portuguesa
- Assisted TINSA Internacional de Inversiones SL on the acquisition of 80% of PVW – Price, Value and Worth.
- Advised AEGON Spain Holding on the acquisition of two autonomous business units as a going concern.
- Advised on the sale of MSTF PARTNERS – Agência de Publicidade to Dentsu Aegis Network Ltd.
The corporate and M&A team at Macedo Vitorino & Associados demonstrates significant experience across a variety of sectors, including but not limited to luxury goods, food and beverage, infrastructure, telecoms and energy. The department is also well versed in private equity and asset management. Advising domestic and multinational companies, private equity houses and investment funds in cross-border transactions is an area of activity for co-head João de Macedo Vitorino, while Susana Vieira regularly coordinates due diligence in M&A matters.
João Macedo Vitorino; Susana Vieira
‘The team has an international vision and capacity.’
‘Lawyers have a good command of English and Spanish.’
‘The team has deep knowledge of the telecoms sector in Portugal.’
‘João Macedo Vitorino always presents a unique solution to every problem.’
Solaria Energía y Medio Ambiente
Greenswan SPGS SA
- Advising OMNOVA SOLUTIONS in connection with the purchase of two companies operating in the chemicals sector.
- Advising Scabal in connection with the acquisition of a majority stake in Portuguese clothes manufacturer.
- Advising Greenswan on a sale and purchase agreement relating to the business and assets of Intertoys.
pbbr - Sociedade de Advogados RL receives instructions from domestic and international players covering different industries, with a particular emphasis in the real estate, tourism, IT and healthcare sectors. The firm demonstrates experience acting in M&A, disposals, joint ventures as well as shareholder agreements. Pedro Pinto has significant expertise in real estate M&A transactions, while assisting investors, funds and management companies in private equity matters is an area of strength for Alexandre Jardim.
Pedro Pinto; Alexandre Jardim
‘Very knowledgeable and very prudent team which had the capability to anticipate any potential issues which happened to be very important after the operation was concluded‘.
Signal Capital Partners
Cushman & Wakefield
Kiabi (Groupe Mulliez)
Keys Asset Management
GMG – Geneva Management Group
The commercial, corporate and M&A practice at Raposo Bernardo provides legal support in relation to a variety of matters, including acquisitions, mergers, corporate compliance programmes, due diligence and regulatory issues. Managing partner Nelson Raposo Bernardo oversees the department alongside Joana Andrade Correia, who is adept at advising on corporate restructuring and M&A transactions across multiple industries, such as pharmaceutical, financial services, tourism and energy.
Nelson Raposo Bernardo; Joana Andrade Correia
‘The firm offers practical solutions to cross-border problems.’
‘Highly diversified and specialised lawyers who are very skilled and effective. The team is organised in a way that ensures each matter is exclusively dealt with by the lawyers that have specialised in the relevant field.’
‘Lawyers are always accessible and keen to assist.’
- Advised a client on the acquisition of an airline company.
- Advising bidder on a referral worldwide acquisition of Louis Dreyfus Co.
RRP Advogados primarily focuses on M&A transactions, but the firm is also well equipped to assist companies in the main aspects of their corporate life, such as corporate governance, finance, reorganisations and other day-to-day matters. The team also comes together with the capital markets, financial services and banking and finance departments to advise private equity houses in sector-related matters. Practice head Rodrigo Falcão Nogueira has a proven track record of handling local and cross-border transactions, with a particular focus on the financial, insurance, energy and pharmaceutical sectors. Private and public M&A transactions are one of Manuel Cordeiro Ferreira's core areas of practice, which also encompass corporate finance and collective investment schemes.
Rodrigo Falcão Nogueira
‘We find the team to be highly professional and take matters seriously with clear understanding of our needs and to be reactive and proactive.’
‘Individuals are highly professional and listen to their client. They are able to quickly understand the issues and propose solutions under tight time frames.’
‘Excellent team, highly involved with our operation in Portugal. Resourceful and hands-on for all kind of tasks.’
‘The team is faultless in technical terms, sticks to strict deadlines.’
‘Rodrigo Falcão Nogueira has the ability to express his opinions about complex legal matters in a clear, simple language. His technical and interpersonal skills are outstanding.’
‘Manuel Cordeiro Ferreira is very professional and fully committed to us as a client.’
Miya Water Group
QuattroR SGR S.p.A.
Labatec Pharma SA
Telefonaktiebolaget L.M. Ericsson (Ericsson)
Puma Europe GmbH
- Represented Thomson Reuters in Portugal in the context of the sale of its financial and risk business to a consortium led by The Blackstone Group.
- Advised the management of Miya Water Group on its sale and partial management buy-out to a Bridgepoint-led fund for €230m.
- Assisted NovEnergia Group in its global corporate and business reorganisation and sale to Total Eren.
The commercial and corporate team at TELLES is adept at handling cross-border deals, and has been particularly active advising local and international energy companies on their M&A transactions. Notable areas of practice include private equity and venture capital matters. Carlos Lucena, who is proficient in foreign investments and corporate restructuring, leads the practice with Francisco Espregueira Mendes, who stands out for his in-depth knowledge of private equity and competition issues.
Carlos Lucena; Francisco Espregueira Mendes
‘The team is very reliable and the articulation between the several departments is great.’
‘In general, all departments are client focused as they try to anticipate problems and also solutions for the client. Additionally, all lawyers tend to be kind and easy to deal with.’
‘Diogo Damião is an outstanding lawyer. He is very reliable in terms of work quality. He anticipates problems and finds creative solutions. He shows great commitment to our M&A projects and thinks about the transactions from a wide perspective (also understanding the business mindset).’
Fiera Capital Corporation
Susi Energy Efficiency Fund II
Auto-Sueco, Lda. (Nors Group)
Egis Road Operation Portugal, S.A.
Ferpinta Turismo, Sgps, S.A.
Inter-Risco Group (Inter-Risco, Sociedade De Capital De Risco, S.A.)
Super Bock Group
Vallis Capital Partners, S.A. (Vallis Group)
Peeif – Portuguese Energy Efficiency Investment Fund – Fundo De Capital De Risco
New Edge Fund
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
Albuquerque & Almeida is well versed in representing foreign purchasers in inbound M&A transactions, and also assists domestic sellers. The department is also skilled in advising on shareholders agreements, corporate governance as well as reorganisations and privatisations. Practice head António de Mendonça Raimundo specialises in corporate law and international contracts, and demonstrates in-depth understanding of M&A.
António Mendonça Raimundo
‘The team is knowledgeable of Portuguese Law and regulations. Lawyers are available, dedicated, flexible and with excellent proficiency in English and French.’
‘Excellent knowledge of Portuguese Law and regulations (and EU rules as well), especially in terms of interaction with contracts between non-Portuguese parties on Portuguese assets and companies.’
‘Excellent proficiency in English (full capacity to draft comprehensive M&A agreements in English) and also in French.’
‘Pragmatic approach avoiding pointless legal complexity.’
‘Good dedication to their clients, whom they get to know well so that they can provide a service that fits their needs.’
‘António Mendonça Raimundo always provides outstanding prompt and great quality service. He ensures the work of everyone in the firm is up to that standard.’
Bondalti Chemicals (largest Portuguese chemical private group)
ABB ASEA BROWN BOVERI
Carrier (United Technologies Group)
Crest Capital Partners
Indie Campers S.A.
Global Fire Equipment S.A.
- Assisted ESRI with its acquisition of 100% of the share capital of the Portuguese company which distributed its products in Portugal.
- Acted for Italy’s Massimo Zanetti Beverage Group in its acquisition of the companies CAFÉS NANDI and MULTICAFÉS, which operate the coffee brand NANDI.
- Advised the Swiss energy group EOS HOLDING in the acquisition of a company which operates a solar plant in Serpa, Portugal.
Commercial, corporate and M&A are APTS - Alves Pereira & Teixeira de Sousa, S.P., R.L.'s core areas of practice. The team offers advice to clients operating in a multitude of sectors, including media and advertising, construction, retail, telecoms and mining, in relation to their domestic operations and transactions in other Portuguese-speaking countries. João Pedro Alves Pereira leads the practice group, which often works in association with international law firms on cross-border matters.
João Pedro Alves Pereira
‘The promptness of the firm’s response is impressive.’
‘The team is used to working under pressure and delivering on time with good results.’
‘Team of highly senior and very focused lawyers.’
‘João Marques de Almeida is very knowledgeable and dynamic.’
‘I was impressed by João Marques de Almeida’s prompt responses to our requirements (which were time pressured in the context of a wider transaction).’
‘João Pedro Alves Pereira has been the most important lawyer in this firm supporting us in our business undertakings.‘
Amway Ibéria, SA
Every Day Networks, LLC
Intelligent Apps GmbH
IPG Mediabrands Group
Rentokil Initial plc
IYCSA – Ingeniería y Conservación S.A.
Proyectos y Construcciones Rubcam
- Advising and assisting IYCSA – INGENIERÍA Y CONSERVACIÓN, a Spanish construction company, with the incorporation of a subsidiary in Portugal.
- Advising CANNON HYGIENE in respect of the legal implications and procedure for transfer of licences, contracts and other rights or assets, as a result of a merger with Rentokil Initial Portugal.
- Reviewing and revising the terms and conditions of the MYTAXI PORTUGAL UNIPESSOAL’s agreements with the passengers, drivers and company owners.
Carlos Aguiar, Ferreira de Lima & Associados - Sociedade de Advogados, R.L.
Carlos Aguiar, Ferreira de Lima & Associados - Sociedade de Advogados, R.L. offers an array of services pertaining to business and corporate law, as well as transactional work. The firm also has close ties to international firms.
Espanha e Associados offers ongoing legal assistance to domestic and international clients with respect to corporate governance, implementation of new structures and business expansion. Rita Beirôco, who specialises in commercial law, leads the department, which regularly handles restructuring operations, including mergers, demergers and acquisitions. Mafalda Palma is the other key contact in the corporate team.
Bnp Paribas Portugal Group (Including Cardif, Arval, Bnp Paribas Personal Finance, Bnp Factor, Etc.)
Fitness Hut, SA
Hoteis Dom Carlos Group
Winsig – Soluções De Gestão, SA
Coimbralimentar – Armazenista De Produtos Alimentares, Higiene E Limpeza S.A.
S. 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.
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
Companhia Internacional De Comércio De Ar Condicionado, Ventilação E
Frio Industrial – Interfrimec, S.A.
- Represented Nata da Nata in its merger with TEMAS DEFINIDOS – LDA and TARDES DE SOMAS – LDA.
JPAB - José Pedro Aguiar-Branco Advogados
JPAB - José Pedro Aguiar-Branco Advogados works across corporate, commercial and contract law-related areas, while also handling different types of national and cross-border transactions. Noted areas of practice include private M&A, demergers, joint ventures, restructurings, as well as corporate litigation issues; the firm also has specialist knowledge in the field of start-ups. Department leader Maria de Deus Botelho frequently advises on the purchase and sale of corporate entities, establishment of companies and corporate governance. José Pedro Aguiar-Branco, whose main areas of activity apart from M&A transactions include contentious matters, is another name to note.
Maria de Deus Botelho
‘Large spectrum of matters are covered by a multidisciplinary team.‘
‘The firm delivers fast responses, professionalism and projects are followed from start to finish.‘
‘The main strengths of the services provided by JPAB are: speed of response, involvement of team in matters and quality of advice provided.‘
‘In general, all the lawyers we interact with demonstrate professional competence and commitment, which is why we have maintained and strengthened our collaboration over the years.‘
‘The professionalism, dedication, availability and quality of the response to the various requests, stands out.‘
‘Joana Carneiro, Maria de Deus Botelho, Sofia Ferreira and Ruben Ribeiro have a great attitude and availability, on top of good technical knowledge of the matters and great efficiency.‘
‘José Pedro Aguiar Branco and Maria de Deus Botelho are outstanding.‘
E. Leclerc Group
EPower Metals Inc
Fortescue Metals Group
The Phone House Group
Sanfil Medicina Group
Custo Justo Portugal
Banque Degroof Petercam
- Represented Fortescue Metals Group in its entry into the Portuguese mining sector.
- Represented the Portuguese companies of ELIOR GROUP in a merger by incorporation of three subsidiaries.
- Represented the Piedade Group in the merger by incorporation of three subsidiaries, as well as its internal restructuring.
MGRA SP RL is proficient in transactional work, advising clients on matters pertaining to M&A, joint ventures, partnerships and other strategic alliances. Typical instructions on the corporate side include providing legal advice to companies in respect of their day-to-day business and commercial agreements. The department is under the joint leadership of Helga Lopes Ribeiro and António Mouteira Guerreiro.
Helga Lopes Ribeiro; António Mouteira Guerreiro
Hyundai Heavy Industries Europe
Dahlman Industrial Group B.V. (“Royal Dahlman”)
Alphaserve Technologies Group
Ray Allen, INC
Omnicom Group, INC.
Pollet Water Group
- Advised on the restructuring of Hyundai Europe’s distribution model in the Portuguese territory.
- Acted for Dahlman Industrial Group in the sale of the group to Porvair.
- Represented WeedMD, Inc in the incorporation of a Portuguese subsidiary and implementation of its activities in the Portuguese market.
PRA-Raposo, Sá Miranda & Associados, Sociedade de Advogados SP RL offers comprehensive corporate law advice and has a strong transactional practice, predominantly assisting with M&A and investment deals. The firm also benefits from links to foreign firms, with its international reach covering multiple Portuguese-speaking jurisdictions. Practice head Pedro Raposo has advised on complex mandates involving cross-border joint ventures and the incorporation of newly acquired companies in other jurisdictions. Miguel Miranda is based in Porto and oversees the commercial contracts and competition teams.
‘PRA offers practical solutions to cross-border problems.‘
‘Pedro Raposo is always accessible and keen to assist.‘
‘Highly diversified and specialised team, which is very skilled and effective. They are organized in a way that, unlike other similar practices, ensures that each matter is exclusively dealt with by the lawyers that have expertise in the relevant field. They are therefore quite market-savvy.‘
‘Pedro Sá and Miguel Miranda are extremely experienced and knowledgeable individuals and I very much value their advice regarding corporate and commercial matters. They are trustworthy, available and have a broad strategic-thinking approach to every subject.‘