Firm Profile > Latham & Watkins LLP > Madrid, Spain

Latham & Watkins LLP
MARÍA DE MOLINA 6, 4TH FLOOR
28006 MADRID
Spain

Capital markets: Debt Tier 2

Latham & Watkins LLP was busy handling note and bond issuances in 2017 and 2018. For example, it assisted Morgan Stanley with the issuance of floating-rate senior secured notes and, in a separate matter, advised the initial purchasers, including Bankia and Banco Santander, in connection with Haya Real Estate’s issuance of €475m of senior secured notes. Ignacio Gómez-Sancha leads the group, which also includes Ignacio Pallarés.

Capital markets: Equity Tier 2

Latham & Watkins LLP's track record includes advising JP Morgan, Morgan Stanley, Banco Santander, BBVA, CaixaBank and UBS, as underwriters, on a rights issue. Practice head Ignacio Gómez-Sancha is a well-known practitioner in the capital market sphere. Within his team, Ignacio Pallarés is also recommended.

Commercial, corporate and M&A Tier 2

Latham & Watkins LLP is 'very well coordinated internally', and provides 'extremely good client care, attention and responsiveness across its international offices'. In addition to numerous private equity deals, it handled the €2.8bn acquisition of OHL Concesiones on behalf of the buyer, IFM Investors. The lead partner on the matter was Manuel Deó, who is 'an extremely bright lawyer, understands the business issues at stake and is resourceful'. José Sánchez-Dafos and Ignacio Pallarés are also recommended. Ignacio Balañá left to join Deloitte Legal in September 2017 and former office managing partner José Luis Blanco retired at the end of 2017. The position was taken over by Juan Picón.

Leading individuals

Private equity Tier 2

Latham & Watkins LLP is frequently involved in cross-border private equity deals. For example, it assisted CVC Capital Partners and some members of the management board of Quirónsalud with the latter's sale to Helios Kliniken. Another highlight was advising The Carlyle Group on the €390m acquisition of wine and cava producer Codorníu. Juan PicónJosé Sánchez-Dafos and Ignacio Pallarés are recommended.

Leading individuals

Tax Tier 2

Specialising in cross-border transactional work, Latham & Watkins LLP’s practice is led by Jordi Domínguez, who is particularly experienced in complex M&A-related tax matters. The team also includes counsel Iván Rabanillo, who is a multi-jurisdictional tax expert. The firm advised private equity sponsor Värde Partners on the acquisition of an additional 49% stake in Spanish bank and credit card operator WiZink. In another recent highlight, the department represented Morgan Stanley International, JP Morgan Securities, Bankia and Banco Santander in tax issues relating to the issuance of €475m of senior secured notes. Other key clients include IFM Investors, UBS and Omnicom.

Leading individuals

Environment Tier 3

Latham & Watkins LLP works across product regulatory issues, emissions trading, renewable and energy issues, with a particular focus on the regulatory and commercial aspects of the energy market. Contentious environmental specialist Antonio Morales leads the team and is known for his work in complex disputes involving power projects, engineering and infrastructure. The practice is advising IFM Investors, a global infrastructure fund, on due diligence of the environmental regulatory aspects relating to its acquisition of OHL Concesiones, a Spanish-based company that develops, operates and manages toll roads, ports, railways and airports.

Projects and energy Tier 3

Latham & Watkins LLP focuses on the regulatory and commercial aspects of the energy market. Practice head Antonio Morales specialises in energy sector advice and arbitration. His team is representing Novenergia in an arbitration proceeding against the Kingdom of Spain under the Energy Charter Treaty, and is acting for Iberdrola against the Kingdom of Spain in the Spanish Supreme Court in a matter related to a regulation that imposed the obligation on electricity companies to finance a subsidised electricity tariff. Other key clients include Gas Natural Fenosa.

Dispute resolution Tier 4

Latham & Watkins LLP has experience in commercial and civil disputes with a particular focus on litigation in the energy and banking sectors. Antonio Morales leads the practice and specialises in disputes pertaining to energy and power projects, infrastructure and healthcare. His team is representing Novenergia in an arbitration proceeding against The Kingdom of Spain under the Energy Charter Treaty, as well as acting for Gas Natural Fenosa in a matter relating to the assignment of CO2 rights in Spain.

Banking and finance Tier 5

Latham & Watkins LLP advised Morgan Stanley as lead lender on a term loan and revolving credit facility for Altran Technologies’ acquisition of design and engineering company Aricent. In another matter, it assisted the lenders, including Banco Santander, with the ongoing refinancing of the existing facilities agreement of real estate company Altamira. Counsel Fernando Colomina and senior associate Joaquín Fabré are the names to note.

Public law Tier 5

Latham & Watkins LLP's Antonio Morales handles mostly contentious work. His group is representing Novenergia in an arbitration proceeding against the Kingdom of Spain concerning the abolishment of remunerative incentives for renewable energy.

The firm

Latham & Watkins is a leading international law firm serving multinational companies, start-ups, investment banks, private equity funds, venture capital firms, sovereign wealth funds, governments and other organisations. The firm’s global platform spans Asia, Europe, the Middle East and the US, and consists of internationally recognised practices across a wide spectrum of transactional, litigation, corporate and regulatory areas. Latham’s lawyers offer unrivalled legal resources and strategic commercial thinking to provide clients with innovative solutions to complex business and legal matters.

Lawyers here represent Spanish companies, private equity firms and financial institutions in inbound and outbound transactions and disputes, as well as acting for international companies conducting business throughout Spain and the Iberian Peninsula. The Spanish practice, primarily focusing on M&A, private equity, capital markets, litigation, administrative and regulatory, tax, and antitrust and competition, plays a critical role in Latham’s ability to serve clients worldwide.

The Spanish practice not only draws its strength from the expertise of the lawyers in Spain, but also includes the experience of lawyers based in offices around the world who have significant experience representing entities with Spanish interests. In addition, the Spanish team works closely with the firm’s Latin American practice group to facilitate transactions throughout Latin America.

Areas of practice

Lawyers in Latham’s Spanish M&A and finance practice have broad experience in cross-border M&A transactions involving Spanish companies and non-Spanish companies doing business in Spain, including company acquisitions, advice on excluding tender offers and/or extending European-based tender offers to the US market and arranging public financing. The private equity team has broad experience advising on a full range of transactions, from seed and early-stage capital situations to leveraged buyouts, PIPEs, growth equity investments, spin-outs, rollups, take-privates of established companies, and lately, restructurings and other distress-related transactions, in national or cross-border deals.

Latham & Watkins’ Spanish capital markets lawyers advise on domestic and international aspects of capital markets transactions, as well as on regulatory and corporate governance issues. This is an advantage for their clients when advising on international transactions, and the ability to play a dual role distinguishes the firm from most others in Spain.

Latham & Watkins has one of the strongest litigation and regulatory practices in Spain. Lawyers in this practice have vast experience in litigation and dispute resolution, as well as experience advising clients in national and cross-border arbitration proceedings. They have worked on projects and transactions related to public and administrative law, including matters such as energy, water regulation, transport, telecommunications, administrative proceedings, environmental and, in general, all matters where public administration is involved.

Latham & Watkins’ Spanish tax practice includes a team of highly regarded lawyers specialising in transactional tax, international tax, tax planning and tax structuring of cross-border M&A, capital markets offerings and restructuring transactions. Latham’s Spanish tax lawyers regularly advise companies listed in the Ibex 35 index, Spanish companies and multinational groups, private equity funds, investment funds, venture capital firms and financial institutions on a wide range of domestic and cross-border transactional tax matters.

Department Name Email Telephone
Corporate M&A
Capital markets
Litigation
Tax
Antitrust and competition
Finance
Photo Name Position Profile
 Fernando Colomina  photo Fernando Colomina
 Manuel Deó  photo Manuel Deó
 Jordi Domínguez  photo Jordi Domínguez
 Ignacio Domínguez  photo Ignacio Domínguez
 Ignacio Gómez-Sancha  photo Ignacio Gómez-Sancha
 José-Maria Jiménez-Laiglesia  photo José-Maria Jiménez-Laiglesia
 Rafael Molina  photo Rafael Molina
 Antonio Morales  photo Antonio Morales
 Ignacio Pallarés  photo Ignacio Pallarés
 Iván Rabanillo  photo Iván Rabanillo
 Naiara Rodriguez-Escudero  photo Naiara Rodriguez-Escudero
 Jose Antonio Sánchez Dafos  photo Jose Antonio Sánchez Dafos
Number of lawyers : 2,600+
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in Spain : 30 approx