The Legal 500

Spain

Banking and finance

Banking and finance - ranked: tier 1

Garrigues

At Garrigues, the standard of service is ‘excellent, and all necessary steps are taken at the right time by its great team of lawyers, who have vast experience in the sector’. In one highlight, the team advised BBVA and others (as the lenders) on a credit line facility to Ibereólica Solar Morón, valued at €232m. Other work included assisting a multinational corporation with the structuring of a complex derivative transaction involving a variety of financial products with an aggregate value in excess of €400m. CaixaBank, Banco de Sabadell and JP Morgan Asset Management are also clients. Rafael González-Gallarza and Luis de la Peña lead the team. Gonzalo Rivera, José Miguel Pinillos and Gaspar Atienza are other key names.

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Commercial, corporate and M&A

Commercial, corporate and M&A - ranked: tier 1

Garrigues

‘A major name in the Spanish corporate market’, Garrigues houses a ‘large and very experienced team of corporate lawyers’. The team advised BBVA on its merger with Catalunya Banc in a €2.7bn deal, and assisted US fund Global Infrastructure on its acquisition of a 20% interest in Gas Natural from Repsol and Criteria Caixa, in a €3.88bn operation. Other clients include Merlín Properties SOCIMI, Peugeot and Telefónica. Mónica Martín de Vidales, Álvaro López-Jorrín and Fernando Vives are recommended.

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Dispute resolution

Dispute resolution - ranked: tier 1

Garrigues

Garrigues’ team is ‘very good, offering comprehensive replies and a multidisciplinary, international approach’. Carlos de los Santos heads the 41-partner litigation and arbitration department; the team recently defended Mediapro in the €85m lawsuit filed by Audiovisual Sport (part of Spanish group Prisa) regarding football audiovisual rights. Eduardo Santamaría Moral is another name to note.

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EU and competition

EU and competition - ranked: tier 1

Garrigues

Garrigues’ team has ‘an excellent comprehension of issues’ and provides ‘sound advice’. Marcos Araujo heads the practice, which includes Luis Ortiz Blanco, who has ‘good analytical skills and thinks logically’. The firm is handling several matters for Google and its parent company Alphabet, including assisting with a European Commission investigation into the licensing of its mobile operating system and applications for mobile devices. Mercadona and Santander are also clients.

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Employment

Employment - ranked: tier 1

Garrigues

Garrigues’ impressive practice comprises more than 200 lawyers; key partners include ‘great negotiator’ and department head Rosa Zarza as well as Rafael Ortiz and Vicente Calle, who recently led advice to chemical manufacturer Ercros on its collective negotiation with trade unions regarding a new pension plan. Counsel Eva Diez-Ordás is also recommended.

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Environment

Environment - ranked: tier 1

Garrigues

At Garrigues, the ‘agile and flexible’ team provides ‘a coordinated strategy, which offers not just a legal but a practical point of view’. Public law expert and managing partner Alfredo Fernández Rancaño and counsel Luis González García are advising renewable energy giant Enel Green Power on matters including due diligence and judicial process. It also provides ongoing assistance to Amazon on environmental issues and administrative proceedings.

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Insurance

Insurance - ranked: tier 1

Garrigues

Garrigues acts for several major European insurance groups, providing the full spectrum of legal services, including handling regulatory, corporate and transactional matters, and insurance and reinsurance litigation. The practice acted for the sellers (including Aegon, Allianz and Seguros Bilbao among others) on the €50m sale of Inverseguros Group to Dunas Capital. Other clients include Banco Santander, Generali and the Association of Andorran Banks. The firm’s insurance department sits as part of the firm’s corporate practice, which is led by Álvaro López-Jorrín and Mónica Martín de Vidales, with Fernando Vives and Javier Urbano also active. Associates Félix Ferreño and Luis Covarrubias are also noted.

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Private equity

Private equity - ranked: tier 1

Garrigues

‘A leading firm in the PE arena’, Garrigues handled Global Infrastructure Partners’ purchase of a 20% stake in Gas Natural from Repsol and Criteria Caixa. Other work included advising Telefónica on the sale of a 24.8% interest in Telxius sale to KKR. Fernando Vives, Álvaro López-Jorrín and Mónica Martín de Vidales are recommended.

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Projects and energy

Projects and energy - ranked: tier 1

Garrigues

Garrigues’ practice is well-known for its project finance expertise in high-end projects. Highlights included advising Enel Green Power on the Spanish matters connected to its demerger, in a matter valued at close to €4.5bn. Mónica Martín de Vidales and Álvaro López Jorrín jointly head the group. Marcos Botella is also recommended.

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Public law

Public law - ranked: tier 1

Garrigues

A ‘major player in the public law arena’, Garrigues’ sizeable public team is led by Alfredo Fernández Rancaño. Headline work included advising Centro Canalejas (OHL Group) on the execution and implementation of a project to build a multi-purpose complex in Madrid city centre and assisting Iberdrola Generación with the necessary changes to implement recently enacted legislation pertaining to nuclear plant ownership. Miguel Loya del Río, Javier Manchado de Armas and David Arias Guedón are key names.

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Real estate and construction

Real estate and construction - ranked: tier 1

Garrigues

Led by Felipe Yanone, Garrigues’ practice is considered ‘a leading name for real estate instructions’. In one highlight, it acted for Marlín Properties SOCIMI on the sale of 19 hotels to Foncière de Murs for an aggregate value of €535m. Oscar de Santiago, who heads the practice in Barcelona, Lorenzo Clemente, Héctor Muñoz and Teresa Arranz are also noted.

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Restructuring and insolvency

Restructuring and insolvency - ranked: tier 1

Garrigues

Garrigues provides ‘rapid responses to complex questions’ and is heavily involved with the infrastructure, real estate and renewables sectors. The group also advises financial entities including Santander and BBVA and has a standout reputation for its work on non-performing loan transactions (NPLs), acting for notable investment firms such as Bain Capital. Adrián Thery and associate Juan María Jiménez are assisting a group of international insurers with their claims against Abengoa following its homologation. Juan Verdugo and Borja García-Alamán are also key practitioners.

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Tax

Tax - ranked: tier 1

Garrigues

Garrigues’ team acts on the tax aspects of significant M&A deals and stands out for its ‘technical knowledge’ and ‘practical’ advice. Practice head Eduardo Abad recently assisted Prosegur Cash with tax restructuring issues concerning its listing. Ricardo Gómez has expertise in group reorganisations and international deal tax structuring. The firm is also strong in state aid tax cases and tax litigation.

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Spain: Capital markets

Debt

Capital markets: Debt - ranked: tier 1

Garrigues

Garrigues houses a team with a proven track record advising on high-yield operations, debt and securitisation, and is regularly involved in some of the largest transactions in the country. It acted for Deutsche Bank on the issuance of mortgage-covered bonds valued at €1.5bn. Practice heads Mónica Martín de Vidales and Àlvaro López-Jorrín, together with Fernando Vives and Gonzalo García-Fuertes, are recognised for their expertise.

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Equity

Capital markets: Equity - ranked: tier 1

Garrigues

Garrigues’ capital markets practice, which is part of its corporate department, advised Prosegur and its spin-off, Prosegur Cash, on all aspects of the latter’s IPO, including handling due diligence and corporate governance issues, the prospectus and listing process. Other work included acting for Gestamp Automoción on its €3.2bn IPO. Álvaro López-Jorrín and Mónica Martín lead the team. Fernando Vives and Gonzalo García-Fuertes are also recommended.

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Spain: Industry focus

Food

Industry focus: Food - ranked: tier 1

Garrigues

Garrigues’ ‘very good’ practice stands out for its ‘business understanding’ and ‘flexibility, which means it can achieve realistic deals that bring value’. The firm provides advice on all legal and tax matters concerning production and distribution chains to key industry clients such as Lactalis, Bimbo and Mondelēz; it also works with well-known supermarkets and food retailers. Recent highlights included assisting the majority shareholders of Grupo Vips with its change of investment shareholder (ProA Capital acquired a 30% equity stake). Álvaro López-Jorrín and Mónica Martín de Vídales are the main contacts.

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Healthcare and life sciences

Industry focus: Healthcare and life sciences - ranked: tier 2

Garrigues

Garrigues has a multidisciplinary practice; recent highlights include acting for Aegon on the sale of its clinic QMS to Quirónsalud. Corporate partner José Fernández-Rañada and IP partner Carolina Pina are the practice heads.

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Manufacturing

Industry focus: Manufacturing - ranked: tier 1

Garrigues

Garrigues acts for key sector clients on corporate, tax and employment matters. Mónica Martín de Vidales and Felipe Martínez Caballero led advice to PSA Group Peugeot on its €2.2bn acquisition of Opel and Vauxhall from General Motors. Álvaro López-Jorrín assisted with Gestamp’s €3.2bn IPO, one of the largest European listings of the year.

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Retail

Industry focus: Retail - ranked: tier 1

Garrigues

Garrigues assists industry giants with complex M&A transactions and provides tax, employment and IP advice. Recent highlights included acting for Uvesco Group on its purchase of the production unit of supermarket chain Gigante (now BM Supermercados). It also advises Carrefour on a full range of matters and acts for Estée Lauder on distribution issues. Corporate partners Mónica Martín de Vidales and Álvaro López-Jorrín jointly head the group.

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TMT

Industry focus: TMT - ranked: tier 1

Garrigues

Garrigues has ‘incredible experience, offering a strategic and practical approach to challenging legal matters’. Carolina Pina, who provides ‘spot-on advice that takes the political and industry environments into account’, and Javier Marzo, who has ‘a creative’ approach, lead the telecoms and media side; notable deals include advising Zegona Communications on its sale of Telecable to Euskaltel. José Ramón Morales, who ‘understands the client’s needs’, is the key name for outsourcing and technology. Key work in the space includes acting for Social Point on the €284m sale of its shares and voting rights to Grand Theft Auto-maker Take-Two Interactive. Longstanding clients include Samsung, Televisa and Google.

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Spain: Intellectual property

Copyright

Intellectual property: Copyright - ranked: tier 2

Garrigues

At Garrigues, practice head Carolina Pina is defending Spotify against claims filed alleging failure to pay royalties for online phonograms. João Miranda de Sousa and Antonio Muñoz are also noted.

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Patents

Intellectual property: Patents - ranked: tier 2

Garrigues

Garrigues successfully represented 3M in a landmark patent infringement case pertaining to one of the client’s products; the case set precedent on direct and indirect patent infringement in Spain. Carolina Pina and João Miranda de Sousa jointly head the team. Enrique Grande and Mónica Arizti are also noted.

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Trade marks

Intellectual property: Trade marks - ranked: tier 2

Garrigues

Garrigues handles litigation, transactional work and general advice concerning trade marks, designs, and other connected issues for its domestic and international client base. The group is advising Sky on enforcing its trade marks in Spain. Amazon, BBVA and Bimba & Lola are also clients. Carolina Pina and João Miranda de Sousa jointly head the practice.

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Spain: Transport

Shipping

Transport: Shipping - ranked: tier 3

Garrigues

Garrigues’ shipping group advises Lloyds syndicate underwriters, shipowners, cargo owners, bank and shipyards. It is representing Total Terminal International Algeciras (port of Algeciras) in a complex general average case involving approximately 7,100 cargo interests in a cross-border dispute spanning several jurisdictions. Jesus Barbadillo heads the practice.

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