The Legal 500 > Europe, Middle East & Africa > Spain > Commercial, corporate and M&A

The ‘competent, experienced and available’ Clifford Chance is 'very business minded and understands the dynamics of the deal-making process and how to shape it'. Acting for public and private companies, the firm has particular expertise in multi-jurisdictional matters and insurance sector-related transactions. Javier García de Enterría leads the practice and specialises in M&A, corporate governance, equity capital markets and corporate law. Notable in the team are Jaime Velázquez, who is known for his expertise in regulated sectors, including TMT, energy, financial institutions and infrastructure; Javier Amantegui, who focuses on private equity, cross-border M&A and infrastructure transactions; and the ‘excellent adviser and negotiator’ Luis Alonso, who has experience in transactional, local and cross-border M&A. Also well regarded are Samir Azzouzi, who is active in the Latam region, and associate Miguel Barredo, who advises on M&A and corporate restructurings.

The ‘knowledgeable and adaptable’ J&A Garrigues SLP is prolific in M&A deals across Spain and Portugal, with increasing activity in cross-border transactions. Álvaro López-Jorrín is an expert in corporate law, M&A and commercial restructuring, particularly in relation to financial institutions. He co-leads the practice with Mónica Martín de Vidales, who specialises in company and corporate law, and Fernando Vives, who has a particular focus on capital markets and financial services. The team advised a consortium of investors, led by funds advised by Bridgepoint, on acquiring a €2.6bn majority stake in Dorna Sports. José María Gil-Robles left to join DLA Piper in 2019.

Known for its cross-border expertise, Pérez-Llorca has offices in Madrid, Barcelona, London and New York. Practice head Javier Carvajal is an expert in M&A, private equity, corporate restructurings, joint ventures and IPOs. He can call on the experience of senior partner Pedro Pérez-Llorca, who focuses on public and private M&A. The team's bench strength was further bolstered by the arrivals of Francisco Iso, who has particular expertise in multi-juristictional transactions with a US component, from PwC Tax & Legal Services in 2019; Alejandro Alberte, who joined from Herbert Smith Freehills LLP in 2018 and specialises in M&A corporate transactions related to energy and infrastructure; and Dídac Severino, who joined from Clifford Chance and is known for M&A, joint ventures and corporate restructuring. Also notable in the team are Juan Oñate, who joined from Linklaters in 2020; Álvaro Ramírez de Haro and Jordi Farrés, who were promoted to partner in 2019; and Rafael Díaz, who made partner in 2020.

Known for providing ‘a top-quality product and service’, Uría Menéndez has expertise in complex and cross-border transactions, notably in Portugal and the Latam region. The practice offers ‘unique, well-rounded solutions’ and is co-led by Manuel Echenique, who specialises in domestic and international M&A, private equity and general corporate law, and Francisco San Miguel, who is experienced in domestic and international private equity and banking M&A. Their prolific team includes Juan Francisco Falcón, who covers a range of corporate law and financing work, with particular emphasis on M&A, private equity, structured finance and securitisations; Juan Miguel Goenechea Domínguez, who focuses on public and private transactions, in Spain and internationally; Salvador Sánchez Terán, who advises on corporate transactions involving credit entities and on the development of new financial instruments; and Tomás Acosta who acts in debt restructuring and multi-jurisdictional structured finance deals, as well as equity and debt issuances.

The multi-disciplinary team at Baker McKenzie specialises in matters related to the real estate, hospitality and tourism sectors. The firm is also increasingly active in advising private equity funds as investors in M&A transactions. Enrique Carretero leads the Madrid office's corporate and M&A practice, with a particular focus on public M&A and takeovers, as well as capital markets law. Co-leading the practice from Barcelona is Javier Menor, who is experienced in advising international and domestic clients on strategic alliances, private equity and competition law.

The ‘first-class' CMS Albiñana y Suárez de Lezo provides the full spectrum of M&A and corporate advice, particularly in the energy and insurance sectors. The firm has expertise in venture capital, outsourcing, capital markets, group restructuring and privatisation. Managing partner César Albiñana specialises in the securities market, corporate law and regulatory advice. He co-leads the practice with the ‘very valuable and trusted’ Rafael Suárez de Lezo, who has expertise in group restructurings. The team was strengthened in 2019 by the arrivals of M&A, corporate and securities market law expert Ignacio Zarzalejos, from Uría Menéndez, and counsel Pedro Ferreras, who joined from Ferreras Abogados and is known for advising start-ups and leading technology companies. Also notable are Rafael Sánchez and Javier Leyva, who were promoted to partner in 2019 and focus on private equity and venture capital.

Specialising in cross-border M&A deals, DLA Piper is active advising domestic and international clients across sectors including fashion and real estate. Practice head José María Gil-Robles joined from J&A Garrigues SLP in 2019 and is known for advising on M&A, as well as assisting private equity investors, hedge funds and other distress players. Notable in his team is Iñigo Gómez-Jordana, who led the advice in a standout highlight for the firm, acting for Atlantia on the takeover and acquisition of Abertis Infraestructuras.

Gómez-Acebo & Pombo is known for its distressed investment, public M&A, venture capital and financial services expertise. The firm particularly excels in advising on the energy, hospitality, retail and technology sectors. Iñigo Erláiz specialises in corporate, commercial and M&A transactions, notably involving private equity, insurance and insolvency-related matters. He co-leads the practice with Fernando de las Cuevas, who focuses on inbound and international M&A and reorganisations. Augusto Piñel joined from KPMG Abogados in 2018 and brings experience in complex transactions and the financial services industry.

The ‘great professionals’ at Hogan Lovells International LLP specialise in multi-jurisdictional transactions, particularly in relation to the Latam region. The firm is strong in the infrastructure, life sciences and healthcare sectors, as well as remaining active in retail. Practice head Alex Dolmans is an expert in M&A, joint ventures and strategic alliances. His team includes the ‘outstanding’ Lucas Osorio, who is known for infrastructure matters. Also notable is Eduardo Pérez, who was promoted to counsel in 2020 and advises on domestic and cross-border M&A, joint ventures and corporate reorganisations. In a recent highlight, the department represented Testa in the acquisition of 80% of its capital by Blackstone. Counsel Miguel García Stuyck left the firm for Ramón y Cajal Abogados in 2019.

The ‘diligent, committed and resilient’ Latham & Watkins LLP specialises in cross-border work for multinational corporations, global private equity houses and large financial institutions. Manuel Deó leads the practice and is proficient in large M&A buyouts, as well as increasingly experienced in the Latam region. Notable in the team is Ignacio Pallarés, who excels in commercial operations, from M&A to restructurings and capital markets. In a recent highlight, the department advised Telefónica in the sale of its subsidiary in El Salvador to América Móvil, a Latam telecoms operator based in Mexico.

The ‘engaged, motivated and committed’ Araoz & Rueda is a ‘boutique and specialised firm that provides very unique M&A and corporate services’. The practice handles the spectrum of transactional and corporate work, across sectors including pharmaceuticals, construction, media, logistics and renewable energy. The team is co-led by Pedro Rueda, who has experience advising industrial and financial clients on behalf of the buyer and the seller; Israel de Diego, who is active in domestic and cross-border matters; and M&A and capital markets specialist Alejandro Fernández de Araoz.

The ‘absolutely reliable' Deloitte Legal provides multi-disciplinary advice on M&A matters, including on the tax, labour and corporate finance aspects of transactions. The firm is experienced in joint ventures and exits, as well as domestic and cross-border acquisitions of public and private companies. In terms of sector expertise, the practice is particularly adept in finance, pharmaceuticals, travel and leisure, manufacturing and private equity. Sharon Izaguirre leads the team and specialises in multi-jurisdictional negotiations.

Specialising in cross-border matters, Jones Day is known for advising on outbound and inbound investments. The firm has experience in a range of advice, from distressed M&A and business restructuring to compliance and corporate governance. Practice head Federico Merino focuses on assisting industrial and venture capital companies in takeovers, buyouts and private equity transactions, across various key sectors. Recently, the team represented Portobello Capital Gestión in the sale to Mutua Madrileña of 80% of its share capital in Centauro.

Specialising in acting for innovative start-ups and technology companies, DWF-RCD advises local and international clients on a range of corporate and transactional activity, with an increasing expertise in cross-border matters. The firm has particular experience in the pharma, life sciences, biotech, fintech and cryptocurrency sectors. Founding partner Adolf Rousaud is known for M&A and commercial transactions. He co-leads the practice with fellow founding partner Ignasi Costas, who focuses on innovation and international matters.

The ‘extraordinarily committed’ White & Case LLP is ‘excellent in delivering value for money and handling complex cross-border matters’. The firm has particular expertise in advising clients in the financial services, funds, infrastructure, retail, real estate and technology sectors. Juan Manuel de Remedios leads the practice and is known for his experience in financial services, telecoms and energy-related matters. His team includes the ‘outstanding’ Carlos Daroca, who ‘combines a deep knowledge of the applicable law, case law and jurisprudence with a proactive spirit’ and is ‘relentlessly focused on the needs of the clients’. Also notable is associate Julio Peralta, who is active in cross-border transactions.

Andersen Tax & Legal is noted for its international reach and expertise in acting for multinational clients in a range of corporate and M&A matters. Gonzálo Cerón leads the practice and specialises in restructurings, acquisitions and disposals of distressed assets, as well as corporate governance matters. In a recent highlight, the team represented Servicios Funerarios Montero in the purchase of 100% of its share capital by Memora Servicios Funerarios. Ignacio Aparicio is another key name; he leads the firm's corporate practice in Europe.

The ‘practical and knowledgeable’ Benow Partners S.L.P. provides ‘outstanding and unbeatable’ expertise, particularly in multi-jurisdictional matters, and is praised for the ‘immediacy, rigour and quality of its work’. The ‘diligent, timely and thorough’ Borja Díaz-Guerra leads the practice and is known for ‘thinking two steps ahead in terms of solutions, while always being pragmatic’. He is dual qualified in Spain as well as in England and Wales and his experience covers acquisitions, due diligence, restructurings and refinancing.

The ‘highly responsive and efficient’ Bird & Bird specialises in the life sciences, pharma, technology and retail sectors. The firm has experience in a range of matters, notably M&A, spin-offs, joint ventures and general corporate advice, acting for multinationals, SMEs and entrepreneurs. ‘Reliable’ practice head Lourdes Ayala is a ‘go-to lawyer for corporate deals in Spain’ and has particular expertise in transactions with a strong real estate element, as well as in corporate and debt restructurings. Her team was boosted by the arrival of counsel Santiago Lardiés, who joined from EY Abogados in 2019 and focuses on private equity and cross-border transactions.

Experienced in cross-border work for multinationals, Dentons is particularly active for French clients. In terms of sector expertise, the practice is known for pharma and private equity matters, as well as a specialism in transactional insurance matters. The practice is co-led by José María Buxeda, who advises on corporate law, commercial law and dispute resolution; Nieves Briz, who joined from Fieldfisher JAUSAS in 2018 and focuses on pharma and IP issues; head of the French desk Juan Ignacio Alonso; and Jesús Durán, who is experienced in M&A, buyouts, divestment strategies and funds structuring. The team was further bolstered by the arrival of compliance expert Diego Pol from Baker McKenzie in 2019. Alejandro Alonso left the firm for Ventura Garcés & López-Ibor in 2019.

Traditionally known for TMT work, ECIJA is becoming increasingly full service, with particular experience in cross-border and sports-related corporate matters. The firm specialises in acting for start-ups and innovative tech companies in a range of issues relating to corporate and M&A transactions, including venture capital and private equity. Notable in the team are founding partner Hugo Ecija, who focuses on advising media companies on corporate and M&A, and Emilio Prieto, who has expertise in cross-border transactions, primarily in the industrial, TMT and real estate sectors. Pablo Jiménez de Parga and Magdalena Bertram joined the practice from Jiménez de Parga in 2019; Raquel García Argudo arrived from Colon de Carvajal Abogados in 2019.

ONTIER covers the spectrum of corporate matters, including M&A, corporate restructuring, venture capital and private equity finance. The firm is experienced in advising clients in a variety of industry sectors, with particular expertise in the energy and renewables sector. Pablo Enrile specialises in civil law, commercial law and civil procedure law. He co-leads the practice with Francisco Silván, who focuses on corporate law, acting for purchasers and sellers in national and cross-border M&A.

Ramón y Cajal Abogados specialises in acting for financial institutions, as well as in the areas of property, TMT, gaming and the regulated sectors, notably energy and infrastructure. The firm is experienced in M&A deals, corporate finance, corporate governance, group reorganisations and commercial contracts. Co-leading the team is Alberto Alonso Ureba, who is known for advising listed companies, credit institutions, public-sector companies and foundations; corporate law expert José Blanco, who joined from White & Case LLP in 2018; Miguel García Stuyck, who joined from Hogan Lovells International LLP in 2019 and is dual-qualified in Spain and the UK; Álvaro Bertrán, who has a particular focus on acquisitions, capital investments, shareholders' agreements and finance; and Iñigo Dago, who advises on company and regulatory matters.

Eversheds Sutherland Nicea specialises in advising foreign investors and international clients on their activities in Spain. The practice works closely with the firm’s tax, IP, litigation, competition and real estate department to provide multi-disciplinary assistance. Juan E. Díaz has expertise in M&A and financial law, acting for banks, public entities and private companies. He co-leads the team with Carlos Pemán Cubillo, who focuses on M&A, private equity and commercial contracts.

The ‘flexible, thorough and practical’ Roca Junyent is known for advising start-ups and innovative companies, as well as for its experience in the regulated sectors and insurance-related M&A. The firm also has expertise in transactions for listed companies which are delisting. Finance and corporate governance specialist Joan Roca Sagarra co-leads the practice with Carlos Blanco, who focuses on M&A and offerings on the securities market and MAB.

Thanks to its international network, Simmons & Simmons is noted for providing multi-jurisdictional advice, particularly in relation to the financial institutions, life sciences and TMT sectors. Carlos Jimenez de Laiglesia leads the practice and has experience in commercial and corporate matters, as well as sector expertise in the financial markets, life sciences and TMT.

KPMG Abogados handles a range of corporate M&A matters, including disposals, acquisitions, corporate governance, joint ventures and share capital increases. The firm also provides sector expertise in the media, infrastructure, retail and industrial markets. Eneko Belausteguigoitia Mateache advises on restructurings, due diligence procedures, and the preparation and negotiation of purchase and sales contracts. He co-leads the practice with M&A specialist Rafael Aguilar and Javier Bau Cabestany, who joined from Allen & Overy in 2018 and acts on behalf of domestic and international clients in joint ventures, private equity and incentive schemes. Augusto Piñel left for Gómez-Acebo & Pombo in 2018.