Firm Profile > Dentons > Madrid, Spain

Dentons
Paseo de la Castellana, 53 8ª
28046 Madrid
Spain

Banking and finance Tier 3

Dentons has 'knowledge of the sector and a good reputation', particularly in structured finance and debt restructuring matters. The firm has experience advising on acquisition, leveraged, corporate and project finance, as well as real estate finance and financial regulatory issues. Other areas of work include export and aviation finance. Fintech expert Jesús Mardomingo focuses on corporate, commercial and regulatory issues. He co-leads the team with Jabier Badiola, who advises national and international financial entities, insurance companies, industrial companies and investment funds on a range of matters. Also notable are Fernando Gutiérrez, who specialises in banking and finance law; and counsel Luis Máiz, who handles cross-border syndicated financing transactions.

Practice head(s):

Jesús Mardomingo; Jabier Badiola

Other key lawyers:

Fernando Gutiérrez; Luis Máiz; Ignacio Fernandez

Testimonials

‘Very up to date with the latest market trends and a lot of sensitivity to what banks can or cannot accept, which makes the process very fluid’.

‘Fernando Gutiérrez is very involved and dedicated in the whole process.’

‘A team entirely dedicated to the client; with great knowledge of the sector; focused on the execution of the deals; and extraordinarily directed.’

‘Jabier Badiola and Ignacio Fernandez are available and have empathy with the client.’

‘Communication and management of affairs, with permanent contact with those responsible.’

‘Permanent and immediate availability and extensive knowledge of the subjects.’

‘Absolute availability. Closeness. Empathy with the client. Searching for solutions. Negotiation skills. Knowledge of the sector and a good reputation.’

Key clients

BANCO SANTANDER, S.A.

MEAG MUNICH ERGO ASSET MANAGEMENT

GENERALI AND UNION INVESTMENT GMBH

BE-SPOKE CAPITAL

BANCO COOPERATIVO ESPAÑOL, S.A.

BNP

CAIXABANK AND SUBSIDIARIES ABROAD

INSTITUTO DE CRÉDITO OFICIAL, E.P.E.

ORANGE BANK, SPANISH BRANCH

MAXI MOBILITY SPAIN, S.L.U.

MEDICAL PROPERTIES TRUST INC.

MERCEDES BENZ BANK AG

GRANTIA CAPITAL, SGIIC, S.A.

COMERCIA GLOBAL PAYMENTS

AURIGA SV S.A.

VECTOR RONDA TELEPORT, S.L.

STONEBRIDGE INTERNATIONAL INSURANCE

AMPER, S.A.

CAIXABANK, S.A.

LANA FINTECH INTERNATIONAL S.L

MINISTRY OF ECONOMY AND FINANCE OF REPUBLIC OF ECUADOR

Capital markets: Debt Tier 3

Drawing on the firm's global expertise, the team at Dentons advises Spanish issuers, financial institutions and investment banks in a range of debt capital market issues. Practice head Ignacio Corujo joined in 2020; he brings experience across the spectrum of capital market matters, including IPOs, the issuance of debt instruments, convertible bonds, EMTN and ECP programmes, project bonds and covered bonds.

Practice head(s):

Ignacio Corujo

Testimonials

‘High availability and access to equipment for any need and time.’

‘Ignacio Corujo worked excellently in ECP and EMTN programs.’

‘Very easy to work with.’

Key clients

Cajamar, Caja Rural, Sociedad Cooperativa de Crédito

SACYR, S.A.

ACS, Actividades de Construcción y Servicios, S.A.

PKF Attest

Bondholders, S.L.

Transport: Other transport Tier 3

Dentons specialises in aviation finance transactions, as well as advising on a range of financings in the transport sector, including shipment, vessels and roll stock markets. The firm has experience representing banks, funds and other financing institutions in aircraft financings and leases, registrations, repossessions, commercial and operating contracts, tax leases and M&A-related operations. Practice head Jabier Badiola focuses on assisting national and international financial entities, insurance companies and investment funds on a range of transactions and financing matters in the area.

Practice head(s):

Jabier Badiola

Other key lawyers:

Ignacio Fernandez; Luis Belart

Key clients

BANCO SANTANDER, S.A.

MUNICH ERGO ASSET MANAGEMENT

China Minsheng Bank

Bain Capital, L.P.

Carlyle Aviation Partners

Jackson Square Aviation, LLc

MUFG Bank Ltd

Castelake, L.P.

Norddeutsche Landesbank

Avolon Aerospace Leasing Limited

Wamos Air, S.A.

Rolls-Royce, Plc

Novobanco, S.A.

Bank of China Aviation

Natixis Singapore Branch

Goshawk Aviation

Abanca Corporación Bancaria, S.A.

Banco Cooperativo Español, S.A.

CAIXABANK, S.A.

Commercial, corporate and M&A Tier 4

Operating from its Madrid and Barcelona offices, Dentons leverages its broad office network to handle a range of cross-border M&A. The team is particularly active in deals involving TMT, energy and consumer products companies, and also specialises in insurance matters connected with corporate transactions. The firm utilises different tools to expedite corporate transactions; one example is Leverton, an AI-enabled document review tool that is used to extract data from documents. Jesús Durán leads the team, which also includes Nieves Briz and José María Buxeda. Juan Ignacio Alonso left the firm in 2021, while Israel de Diego joined from Araoz & Rueda in September 2021.

Practice head(s):

Jesús Durán

Other key lawyers:

Nieves Briz; José María Buxeda; Israel de Diego

Testimonials

‘Jose María Buxeda has extensive experience in structuring agreements and seeking legal solutions to the different situations that arise.’

‘I highlight Jose María Buxeda for his empathy and his ability to seek solutions for the benefit of the client.’

Key clients

Sitaonair Switzerland Sàrl (SITA)

Criteria Caixa, S.A.U.

Private equity Tier 4

Highlighted for its 'very strong technical knowledge', Dentons stands out for its expertise in both fund formation and private equity transactions. The team is particularly active in deals in the energy, infrastructure and real estate sectors, though its recent work has also included transactions involving healthcare, tech and consumer goods companies. Jesús Durán and Fernando Gutiérrez, who made partner in 2020, jointly lead the practice and are highly regarded.

Practice head(s):

Jesús Durán; Fernando Gutiérrez

Testimonials

‘Speed of understanding of the requested advice as well as continuous assistance providing clear and concise clarifications.’

‘Very strong technical knowledge.’

‘Jesús Durán and Fernando Gutiérrez Rizaldos. A lot of knowledge and ability to find structures and solutions to all kinds of situations.’

‘High knowledge of the sector. Great involvement on the part of Mr. Fernando Gutierrez Rizaldo, and team, in the issues in which he advises.’

‘Mr. Fernando Gutierrez Rizaldo and his team have a high level of commitment.’

Key clients

AGC

HIG Capital

Movo

Compañía Española de Financiación del Desarrollo (Cofides), S.A.

Alantra Capital Privado SGEIC, S.A.

BeAble Capital SGEIC, S.A.

Euromobiliare Asset Management SGR, S.p.A.

Horos Asset Management, SGIIC, S.A.

Projects and energy Tier 4

The energy team at Dentons has experience across LNG and natural gas transactions and renewable energy projects in Spain and abroad. Insurance is another area of expertise for the firm, which advises insurers on underwriting insurance policies for purchasers of Spanish renewable power assets. Javier Lasa is a name to note. In April 2021, the practice was further strengthened by the arrival of Fermín Garbayo. Mario Sáez is a name to note at the senior associate level.

Practice head(s):

Javier Lasa; Fermín Garbayo

Other key lawyers:

Mario Sáez; Baldomero Casado

Key clients

SHANGHAI ELECTRIC POWER CO., LTD.

KAISERWETTER ENERGY ASSET MANAGEMENT GMBH

NOVALUZ ENERGÍA

Public law Tier 4

Primarily focused on public procurement and government contracts, Dentons provides 'good knowledge, good experience and full availability’ to clients. The firm also advises on public law and regulatory matters arising from domestic and cross-border deals across a range of sectors, including private security, healthcare, financial institutions, environment and energy. Practice head Daniel Vázquez García is active in public procurement, concession agreements, expropriation procedures, state aid and subsidies.

Practice head(s):

Daniel Vázquez García

Testimonials

Good knowledge, good experience and full availability.’

‘Daniel Vázquez stands out especially for his involvement and proactivity in the matters he has managed.’

Good internal team coordination. More visible participation of all team members.’

‘Knowledge of both Spanish legislation and transnational affairs, the US or neighboring countries, which in advising a multinational company are of great help.’

Good disposition, clarity in the detection of the problem and quick resolution.’

‘One of the differentiating facts of Dentons is its international network of offices, which opens doors to many jurisdictions and allows us to obtain a comparative view of certain regulations in different countries of the EU and the rest of the world. Specifically, the practice of public law is proactive, knowledgeable about the rules and the market. Precisely its international network makes it easier for them to learn about regulatory trends in other countries and anticipate where the norm may evolve in the short or medium term. In addition, they frequently present us with legal solutions that their colleagues have already applied in other EU offices and that we were unaware of in Spain. Among its qualities, I would highlight the accessibility of its lawyers, their proactivity and the quality of the work.’

‘Dentons and mainly Daniel Vasquez’s team have demonstrated: strong customer relation: they have been contactable during the matters discussed, efficient and understanding the business requirements: they have been able to relate to our circumstances and requirements: they understand their practice.’

‘Daniel Vasquez listens to the problem and helps us building accurate expectations.’

Key clients

Fresenius Medical Care España

Engie

Ricardo Certification Iberia, S.L.

Internacional de Periféricos y Memorias, SL

TEDI GmbH

Lendrock

KCI Europe Holding

Amazon

AVIS

Real estate and construction Tier 4

Highlighted for its 'dedication, clarity and availability’, Dentons specialises in property finance, direct lending and refinancing matters. The practice has experience in transactions related to a range of assets, including leisure, residential, logistic and retail properties, and offices, hospitals and shopping centres. The firm also embraces technology and innovation in its approach, an example being its use of the Della AI tool, designed to accelerate the review of any contract while retaining traceability and reporting capabilities. The team is co-led by counsel Bárbara Hernández-Mora, who specialises in acquisitions, disposals, property financings and joint venture agreements in the real estate sector; and counsel Itxaso López, who advises domestic and international investors on acquisitions, disposals and real estate transactions with a distressed element. Jesús Varela left the firm in 2020.

Practice head(s):

Bárbara Hernández-Mora; Itxaso López

Testimonials

The Real Estate team has demonstrated over the years to have extensive knowledge of the sector coupled with a high capacity for problem solving.’

Dedication, clarity, availability.’

‘Bárbara Hernández-Mora stands out for her ability to solve problems by seeking meeting points between the different parties involved in a real estate transaction, etc.’

The Dentons Real Estate team adapts perfectly to our needs. Master all aspects of asset purchase and sale of all market segments. Additionally, its agility and experience in asset management facilitate the day-to-day management of our assets. What differentiates Dentons from other teams is that they know our culture and way of working and anticipate our needs.’

‘Itxaso López is very good.’

‘Barbara Hernandez Mora participates in our day to day, either in asset management matters or in purchase and sale operations. participate in our calls and internal meetings as if she was part of the team. She has a lot of experience in buying and selling and understands the peculiarities of each of the sub-sectors of our market.’

The advice that this team provides is very complete at the same time as commercial. They try to find the best alternatives and solutions for customers taking into account market trends.’

‘The lawyers are very dynamic and always try to find a solution tailored to the needs of clients and with a very practical approach. They have a very professional and commercial team.’

Key clients

Oaktree Capital Management

Starwood Capital Group

Spearvest

Kronos

Medical Property Trust Inc

Dispute resolution Tier 5

Dentons advises multinational corporations, banks and investment funds in dispute resolution matters domestically and internationally. Areas of strength include litigation arising from distressed investment situations and disputes arising in the context of the workout of large debt portfolios. General corporate and commercial contentious work also features. José María Buxeda has experience representing national and international companies in dispute resolution, corporate and commercial law matters and M&A. Former state attorney José María García Santos joined the practice in 2021 to lead the commercial litigation and procedural law offering, while 2020 saw the departure of former practice head Julio Parilla, and the arrival of Risteard de Paor from another international law firm. Juan Ignacio Alonso left the firm in May 2021.

Practice head(s):

Jose María Buxeda

Other key lawyers:

Risteard de Paor; José María García Santos

Key clients

PRIMAFRÍO, S.L.

ICS International Courier Service

Tax Tier 5

Dentons advises insurance companies on warranty and indemnity (W&I) and special tax policies and transactions, and also provides tax advice to SOCIMIs. The firm is also increasingly active in tax litigation matters and in providing tax advice to high-net-worth individuals. María Cortizas leads the team and specialises in the tax structuring of M&A deals, capital markets transactions, structured finance and debt restructuring.

Practice head(s):

María Cortizas

Testimonials

In our opinion, the strength of the Dentons tax area lies in its involvement in the projects. It is one of the very few firms that really “gets wet” in the final tax structure of the operation, giving concrete solutions instead of a series of options. This greatly speeds up decision-making. In addition, it is appreciated working with lawyers who have a solid financial background, since they understand our language and our needs.’

‘We chose to work with Dentons because of its partner María Cortizas. In our opinion, there are 3 qualities that make it stand out from the rest of its competitors: 1. We highly value that it is able to define the final real tax rates that we should influence in our models, and that they support us with your legal opinions. 2. María provides us with solutions  “out of the box” that protect our interests, giving us security for the operation. 3. We have always received the best attention from you. They have received us with the best availability and the work has been impeccable.’

Key clients

Barings Real Estate Advisors, LLP

Nuveen Real Estate Management Limited

Kelly Delly Company

Be Spoke

Spearvest, S.A.

Dentons is the world’s largest law firm, connecting talent to the world’s challenges and opportunities in more than 75 countries. Dentons’ legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons’ polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com

Department Name Email Telephone
Energy and Natural Resources Javier Lasa javier.lasa@dentons.com +34 914 322187
Banking and Finance Jabier Badiola Bergara javier.badiola@dentons.com +34 914 323225
Banking and Finance Jesús Mardomingo jesus.mardomingo@dentons.com +34 914 321 370
Public Law, Environment Daniel Vázquez García daniel.vaquez@dentons.com +34 914 324 730
Corporate and M&A, Dispute Resolution Alejandro Alonso Dregi alejandro.alonso@dentons.com +34 914 320 715
Corporate and M&A, Private Equity, Investment Funds Jesús Durán jesus.duran@dentons.com +34 914 322 905
Tax Jose Ramon Vizcaino joseramon.vizcaino@dentons.com +34 914 322 461
Real Estate Jesús Varela jesus.varela@dentons.com +34 914 322 188
Litigation, Dispute Resolution; Restructuring and Insolvency Julio Parrilla julio.parrilla@dentons.com +34 914 322 601
Corporate and M&A; Dispute Resolution José Maria Buxeda josem.buxeda@dentons.com +34 914 322 365
María Cortizas Maria.cortizas@dentons.com +34 913 356 812
Photo Name Position Profile
 Javier Badiola  photo Javier Badiola Jabier Badiola is a partner of the banking and finance department in…
 Arancha Barandiaran  photo Arancha Barandiaran Senior Associate
 Luis Belart  photo Luis Belart Counsel
 José María Buxeda  photo José María Buxeda José María Buxeda is partner at Dentons Madrid and co-heads the Corporate…
 María Cortizas  photo María Cortizas María Cortizas is a partner in the Tax department of Dentons’ Madrid…
 Jesús Durán  photo Jesús Durán Jesús is a partner in Dentons’ Madrid office. He is a member…
 Fernando Gutierrez  photo Fernando Gutierrez Counsel
 Bárbara Hernández-Mora  photo Bárbara Hernández-Mora Counsel
 Itxaso López  photo Itxaso López Counsel
 Javier Lasa  photo Javier Lasa Javier Lasa is a partner in the Madrid office and Head of…
 Jesús Mardomingo  photo Jesús Mardomingo Jesús is a partner and Head of the Banking and Finance practice…
 Daniel Vázquez  photo Daniel Vázquez Daniel Vázquez is a partner in the Madrid office and Head of…
 José Ramón Vizcaíno  photo José Ramón Vizcaíno José Ramón Vizcaino is Partner of the Tax department in Dentons’ Madrid…
- Number of lawyers: 9,800+ :
At this office: 48 :
70+ languages including:
Arabic
Afrikaans
Azerbaijani
Bulgarian
Czech
English
French
Georgian
German
Hungarian
Italian
Kazakh
Mandarin
Polish
Romanian
Russian
Slovak
Spanish
Turkish
Ukrainian
Uzbek

Dentons is the world’s largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Referral Network. Dentons’ polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work.
With 170+ offices in over 70 countries, Dentons’ global team builds agile, tailored solutions to meet the local, national and global needs of private and public clients of any size.

Department Name Email Telephone
Barcelona Managing Partner; Corporate and M&A Nieves Briz nieves.briz@dentons.com +34 934 452 914
Corporate and M&A; Dispute Resolution Juan Ignacio Alonso juanignacio.alonso@dentons.com +34 934 455 779
Compliance Diego Pol diego.pol@dentons.com +34 934 452 922
Number of lawyers: : 9,800+
At this office: 11 :
70+ languages including:
Arabic
Afrikaans
Azerbaijani
Bulgarian
Czech
English
French
Georgian
German
Hungarian
Italian
Kazakh
Mandarin
Polish
Romanian
Russian
Slovak
Spanish
Turkish
Ukrainian
Uzbek

About Dentons: Dentons is the world’s largest law firm, connecting talent to the world’s challenges and opportunities in more than 75 countries. Dentons’ legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons’ polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com

Dentons Spain: With 10,500+ lawyers and professionals in 200 locations in 79 countries, Dentons is the largest law firm in the world and has more people in more places than any of our competitors.

Dentons’ coverage matches with a significant number of our clients. Where we do not yet have a required presence, we team with referral law firms through our Nextlaw Referral Network, an award-winning global legal network created by Dentons that connects us with other law firms and secures the best legal talent worldwide. With 700+ member law firms in 200+ countries across multiple time zones, member law firms cover more countries in the world than any other global legal network.

Our global strategy has focused on greater geographical coverage. Through opening our own offices and by consolidating special alliances throughout the world, we have become more global in both geography and outlook. Our geographic coverage has greatly increased in recent years and we will continue to expand and enhance our capabilities so that we can provide businesses with multi-jurisdictional and multi-disciplinary services, to efficiently support all their global legal requirements.

Uniquely in the legal services market, Dentons does not have a single headquarters or dominant culture. As a law firm we are inclusive of geographies, nationalities and languages, and recognise and encourage the unique talents and potential of our people.

Further, our global size and scale means that when we develop best practices and invest in new technologies in different countries and regions, we share them across geographies for the benefits of all our clients

Since 2007, and after the merger with two renowned national law firms, Dentons has had a leading presence in Spain. Through our offices in Madrid and Barcelona, we offer a world-class legal service with a practical and commercial approach for our clients in Spain and abroad through our international network.

Department Name Email Telephone
Banking and Finance Jabier Badiola jabier.badiola@dentons.com +34 638 516 766
Public Law and Environment Daniel Vázquez daniel.vazquez@dentons.com +34 663 376 611
Employment Eduardo Gómez de Enterría eduardo.gomezdeenterria@dentons.com +34 620 054 156
Banking and Finance Fernando Gutiérrez-Rizaldos fernando.gutierrez@dentons.com +34 635 350 185
Energy Fermín Garbayo fermin.garbayo@dentons.com +34 91 4323325
Capital Markets Ignacio Corujo ignacio.corujo@dentons.com +34 683 493 935
Energy Javier Lasa javier.lasa@dentons.com +34 696 822 547
Corporate and Private Equity Jesús Duran jesus.duran@dentons.com +34 628 555 836
Banking and Finance Jesús Mardomingo jesus.mardoming@dentons.com +34 670 227 018
Corporate and M&A José María Buxeda josem.buxeda@dentons.com +34 619 233 972
Litigation José María García josemaria.garcia@dentons.com +34 648 082 136
Arbitration Risteard de Paor risteard.depaor@dentons.com +34 682 207 359
Compliance Diego Pol diego.pol@dentons.com +34 934 452 922
Corporate and M&A Nieves Briz nieves.briz@dentons.com +34 934 452 914
Partners : 15
Lawyers : +70
Spanish
English (fluent)

Dentons secures final victory for ICT on European patent infringement case against ESSITY

Global law firm Dentons is pleased to announce that the Paris Court of Appeal, the Higher Regional Court of Karlsruhe and the Barcelona Provincial Court have all issued final decisions dismissing Essity’s claims of patent infringement in regards to Industrie Cartarie Tronchetti’s (ICT) three ply toilet paper. With Dentons’ counsel, ICT successfully demonstrated beyond a doubt that its branded and private label products are produced based on its own proprietary process, and patented under European patent 2 353 859. 

Dentons has been advising Industrie Cartarie Tronchetti S.p.A since 2016. Based in Lucca, ICT is a leader in the category of high quality tissue paper products for domestic use, and has subsidiaries in Italy, Spain, Germany, France and Poland.

The Paris decision, which is the most recent, ends a long-running patent infringement litigation with Essity and affirms ICT can continue to produce and distribute absorbent paper based on its own proprietary technology. The three courts in France, Germany, and Spain have confirmed ICT’s argument that it is using its own novel technology, also patented. Essity’s claims of infringement were based on a patent originally filed by Georgia Pacific, and subsequently becoming Essity’s.

Dentons partner David Masson served as lead partner and represented ICT in France. Dentons partner Dr. Constantin Rehaag represented ICT in Germany, and PwC partner Alejandra Matas Brancós represented the client in Spain, with the support of Dentons partner Juan Ignacio Alonso.

David Masson, lead lawyer on the case, commented: “It has been very interesting to understand ICT’s own technology and work closely with different teams, including ICT’s R&D department, which has been part of all strategic and technical decisions throughout the case”.

Constantin Rehaag, who represented the client in the German court hearings and coordinated the work with the client’s patent attorneys, said: “This is an outstanding success of a great team formed by the client, who provided us with invaluable technological insight, the team of patent attorneys and, finally, by the Dentons teams in France, Spain and Germany.”

The patent litigation began in 2016 when Essity sued ICT in France, Germany and Spain for the alleged infringement of its patent related to the technical solution for the bonding of three layers of tissue for paper products such as high quality, soft and bulky, toilet paper.

In France, Essity claimed that ICT had breached the French part of its European patent 1 081 284 and that the toilet paper marketed as Foxy Soie Plus, and also certain other private labels produced by ICT France, had infringed on their patent. Essity demanded that all production operations be halted. The rolls of toilet paper were carefully analyzed and there were no findings of infringement. The two French courts - in first instance and appeal - rejected the claims and ordered Essity to pay compensation for the legal fees to ICT Italy and ICT France.

In Germany, the case was first taken to the Mannheim District Court, which is well reputed in patent matters. The lawsuit mainly focused on the complex questions regarding the construing of the claims of Essity’s patent. The court ruled in favour of ICT, and Essity filed an appeal. In August 2019, the Higher Regional Court of Karlsruhe also ruled that the German subsidiary of ICT did not infringe the German part of the patent 1 081 284.

In Spain, after a first decision in favor of Essity in the lower court, the Barcelona Provincial Court clearly stated in a written appeal that ICT’s products - and in particular, Foxy Seda, Foxy Bouquet, certain three-ply private label products - did not infringe the Spanish part of the patent 1 081 284.

About ICT

Industrie Cartarie Tronchetti (ICT) was founded in 1976 in Italy, in the Lucca province, to operate in the tissue sector, producing high quality paper exclusively from virgin fibre. The first production facility was opened in 1978 in Piano della Rocca, Lucca, and over the years new plants and facilities have been set up in Piano della Rocca, Diecimo and Piano di Coreglia. The Foxy brand, one of the leading brands in the European market, was launched in 1982. ICT is an example of excellence in the paper industry, in full harmony with the tradition of the Lucca region, where the most important Italian papermaking hub is located, on a par with those of Green Bay (USA) and Fuji (Japan). In Lucca in particular, great expertise has been nurtured in the field of paper for household use, and the city is in fact known as the world tissue capital. Today, ICT SpA boasts an annual production capacity of about 160,000 tonnes.

About Dentons

Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic.


Dentons advises Snam on US$10.1 billion consortium investment in ADNOC Gas Pipelines

Global law firm Dentons advised Italian-based multinational energy infrastructure operator Snam in relation to its agreement, in consortium with several international investment funds, to purchase a 49 percent share of ADNOC Gas Pipelines from The Abu Dhabi National Oil Company (ADNOC). ADNOC Gas Pipelines is valued at approximately US$20.7 billion (US$10.1 billion for 49%).

The transaction is one of the most important in the global energy infrastructure sector, as well as Snam’s first acquisition outside Europe.  ADNOC Gas Pipelines holds the tariff-based rights for the 38 pipelines that connect ADNOC’s upstream activities to Abu Dhabi’s consumption points and the export and interconnection terminals to neighboring Emirates.

The transaction was financed by a pool of international banks for approximately $8 billion, plus an equity contribution from each of the consortium members.  In addition to Snam, the other consortium members included Global Infrastructure Partners, Brookfield Asset Management, GIC, Ontario Teachers’ Pension Plan, and NH Investment & Securities.

Dentons acted with a cross-border team from Italy and UAE, coordinated by partner Sara Biglieri in Milan.  Partners Luca Pocobelli (Rome) and Mhairi Main Garcia (Dubai), counsel Claudio Segna (Milan), senior associate Craig Hughson (Abu Dhabi) and associate Stephanie Hawes (Dubai) advised on corporate and M&A aspects. Partners Alessandro Fosco Fagotto (Milan) and Stephen Knight (Abu Dhabi), counsel Franco Gialloreti, senior associate Tommaso Zanirato and junior associate Giulia Caselli Maldonado (all Milan) advised on financing aspects. Partner Michele Carpagnano (Rome) and associate Giulia Giordano (Rome) advised on the competition and antitrust aspects.

Snam’s internal legal team was led by General Counsel, Marco Reggiani - assisted by Michela Schizzi, Senior Vice President Regulated Assets Legal Affairs - and included senior legal counsels Rosanna Pallotta and Claudia Jolanda Fanelli.  The legal aspects related to the financing were handled, together with Marco Reggiani, by Gloria Bertini, Head of Finance and Capital Market Legal Affairs and Roberta Di Mauro, legal counsel.


Dentons advises Investitionsbank Berlin (IBB) on the establishment of the EU Malaria Fund

The EU Malaria Fund was initiated by the kENUP Foundation, a not-for-profit organization promoting research-based innovation with public and societal benefit. The fund is managed by the IBB Group. The target volume of the fund amounts to €280 million, with a first closing of €70 million on June 3, 2020. A Dentons team from Berlin, Frankfurt, Dusseldorf and Munich provided comprehensive advice to IBB Group on the establishment of the EU Malaria Fund. This included the development of the legal and tax conception of the fund, regulatory advice, corporate law support on the setup of the fund, and the negotiation of the financing agreements with the EIB, the Bill & Melinda Gates Foundation and other investors. Berlin-based partner Dirk-Reiner Voss and Frankfurt-based partner Arne Klüwer jointly led the Dentons team, with support from partners Stephan Busch, Matthias Santelmann and senior associates Holger Hölkemeier and Bernd Düsterbeck in Berlin; counsel Verena Etzel and Oda Elmoutaouakil in Frankfurt; partner Axel Schlieter in Dusseldorf, and partner Richard Fagerer in Munich. About Dentons Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com

Dentons advises on ACS Group’s €500 million NEU-CP Program

Dentons, the world’s largest law firm, has advised Spanish-based multinational construction group, Actividades de Construcción y Servicios, S.A. (ACS), on the renewal of its €500 million Negotiable European Commercial Paper (NEU-CP) Program. The NEU-CP program is registered with the Central Bank of France, with the involvement of BNP Paribas, BRED Banque Populaire, Crédit Agricole Corporate and Investment Bank, ING Bank N.V. and Natixis, as dealers for the Notes. Headquartered in Madrid, the ACS Group is a worldwide leader in construction and services. It is currently the only non-financial issuer with a NEU-CP Program registered with the Central Bank of France. Dentons’ Capital Markets group in Madrid advised ACS on all aspects of the transaction. Partner Ignacio Corujo led and coordinated the transaction with the support of junior associate Ana Artola. Ignacio Corujo joined Dentons in January this year to establish and lead the Capital Markets group in Spain. In addition to this most recent deal for ACS, he has closed several high-value debt capital markets deals since his move, including most notably, Grupo Cajamar’s €1 billion issuance of mortgage bonds, as well as Sacyr’s renewal of its €500 million EMTN Program. About Dentons Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com  

Dentons advises UniCredit on a €450 million secured sustainability-linked financing for Gunvor Gro

Global law firm Dentons has advised UniCredit Bank AG as Mandated Lead Arranger, (Sustainability) Coordinator, Bookrunner, Facility Agent and Security Agent as well as the lenders on a €450 million secured sustainability-linked borrowing base facility agreement with Gunvor Group. Gunvor Group will use the funds to cover the working capital requirements of its Ingolstadt refinery. The innovative financing model is tied to the borrower's achievement of predetermined ESG key performance indicators (Sustainability KPIs) and provides for a sustainability discount or premium in case the company overachieves or underperforms the predefined targets. An independent sustainability auditor will report on the performance of the Sustainability KPIs on an annual basis. The ESG-based scoring of certain key performance indicators provides a unique way for borrowers and lenders to communicate their commitment to sustainability and incentivizes sustainable corporate measures. Participating banks included DZ Bank, KfW IPEX-Bank, Raiffeisen Bank International, Erste Group Bank, Commerzbank, Industrial and Commercial Bank of China, CA Indosuez (Switzerland), Bank of China and First Abu Dhabi Bank. Gunvor Group is one of the world’s largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy from where it is sourced and stored to where it is demanded. With strategic investments in industrial infrastructure – refineries, pipelines, storage and terminals – Gunvor Group further generates sustainable value across the global supply chain for its customers. UniCredit is one of the pioneers in sustainable loans in the German market. Düsseldorf finance partner Dr. Axel Schlieter fully advised the bank on the drafting and negotiation of the loan agreement. The Dentons team further comprised Julia Heitmann (senior associate, Banking and Finance, Düsseldorf) and Eike Hinrich Pradt (associate, Banking and Finance, Frankfurt). Axel Schlieter is a core member of Dentons’ Sustainable Finance group in Europe and is regularly involved around the topics of issuance of green bonds and on sustainable financing. Advisors to UniCredit: Dentons (Düsseldorf): Dr. Axel Schlieter, (lead partner), Julia Heitmann (senior associate, both banking and finance, Düsseldorf), Eike Hinrich Pradt (associate, banking and finance, Frankfurt am Main) UniCredit inhouse lawyers: Carina Engelhardt, Alexander Strigin, Christian Hentrich About Dentons Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com

Dentons advises Qair on refinancing of the acquisition of Rzepin and Linowo wind farms in Poland

Dentons’ Banking and Finance practice team advised Qair SAS, Qair International and Qair Polska Sp.z o.o. in connection with the refinancing of two wind farms under operation, Rzepin (58 MW) and Linowo (48 MW). The financing institutions are BNP Paribas and EBRD. The two wind farms are part of Qair’s larger portfolio of almost 200 MW of renewable energy sources, which also includes 93 MW of new capacity from three wind farms – Udanin (50 MW), Parzeczew (9 MW) and Września (9 MW) – and 25 MW of solar photovoltaic. The project was supervised by Mateusz Toczyski, Head of the Europe and Co-Head of the Global Banking and Finance practice, and led by Tomasz Zwoliński, counsel, with assistance from lawyers Klaudia Szymańska-Rutkowska, Katarzyna Mazur, Katarzyna Kaptur and Jakub Walawski. Supporting the Warsaw team were counsel Surbhi Malhotra-Trenkel in Munich and partners Jean-Marc Allix and Olivier Genevois, and associates Djésia Meziani, Philippine de Fouchier and Hugo Casasnovas in Paris. Dentons’ London team consisting of partner Matthew Sapte and associate Annreika Ray advised on the hedging documentation. “We are very pleased and honored to have had this opportunity to assist Qair in yet another wind power project the company has undertaken in Poland,” said Mateusz Toczyski. “We would like to congratulate Qair on this financing and to wish every success with further developments and investments in Poland and elsewhere in the world,” added Tomasz Zwoliński. About Dentons Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com

Dentons advises Sev.en Energy on aacquisition of US-based Blackhawk Mining

Dentons has advised international energy group Sev.en Energy on its strategic acquisition of US-based metallurgical coal producer Blackhawk Mining, LLC. C. The transaction comes on the heels of Sev.en Energy’s acquisition of a 17% ownership interest in Corsa Coal in May 2020, further reinforcing its access to the metallurgical coal mining industry in the US market. Blackhawk Mining is one of the largest metallurgical coal producers in the US. With annual production capacity of seven to eight million tonnes of metallurgical coal among its five underground and open pit mining complexes in West Virginia and Kentucky, Blackhawk Mining is an important supplier of metallurgical coal both locally and internationally. It also owns three thermal coal mine complexes producing three to four million tonnes per annum. In 2019, Blackhawk Mining had $1bn revenues and $120m EBITDA.   Commenting on the acquisition, Dentons partner Petr Zákoucký, said: “Having worked for Sev.en Energy for many years, I am inspired by their sustained dynamism, and by this bold strategic move, even during these difficult market conditions. We were delighted to have opportunity to play our role in this success.”   Alan Svoboda, Executive Director of Sev.en Energy who leads the Group’s international expansion added: “Once again, the Dentons team exceeded our expectations and delivered the transaction within a tight time frame of less than a month, nailing both the complexity of the deal and challenges created by the current worldwide pandemic. What was really outstanding was the dedication and flexibility that the entire team showed.”   Dentons’ cross-border team was composed of partners Petr Zákoucký (Prague, Energy/M&A), Ilan Katz (New York, M&A), Lee Smith (New York, Finance), Christopher Van Bever (Lexington, Mining) and John Rhine (Evansville, Mining) Robert E. Richards (Chicago, Insolvency), Managing Associate Gregory DiBella (New York, M&A) and Associate Barbora Obračajová (Prague, Energy). Alvarez & Marsal advised Sev.en Energy on financial due diligence and Weir on technical due diligence.   About Sev.en Energy Sev.en Energy owns significant coal and energy production assets in the Czech Republic, the United Kingdom, Australia and the USA. It is the largest private operator of coalmines and conventional power plants in the Czech Republic, and employs more than 3,500 people. In 2019, Sev.en Energy acquired additional power generation assets from Swiss energy group Alpiq and a 50% stake in the multinational energy company – InterGen N.V., which is one of the leading independent power generators with gas-fired power plants in the UK and coal-fired power plants and coal mines in Australia. When pro-forma aggregated with the financial results of InterGen and Alpiq CZ, Sev.en Energy group combined revenues in 2019 were EUR 1,4 billion and EBITDA of EUR 319 million.   About Dentons Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com

Dentons supports German subsidiaries of the Recylex Group in restructuring

Global law firm Dentons is assisting Weser-Metall GmbH and Harz-Metall GmbH, both subsidiaries of the French-German Recylex Group, with their restructuring through ‘self-administration’ proceedings. In addition, Dentons restructuring lawyers Andreas Ziegenhagen and Dirk Schoene and their team are advising the German management of the Recylex Group within the scope of its self-administration. As a result of the COVID-19 pandemic and the dramatic decline in metal prices, the German subsidiaries of Recylex have each applied for protective shield proceedings under German insolvency law. The aim of the protective shield is to allow the companies to continue their individual restructuring measures and to return to economic stability after the pandemic - if necessary, in a new shareholder structure. Weser-Metall produces about 100,000 tons of lead per year at its headquarters in Nordenham (Lower Saxony), making it the third largest lead smelter and the second largest lead recycler in Europe. Harz-Metall has its headquarters in Oker in the Harz Mountains and is one of the leading European recycling companies for lead and zinc contaminated waste. The Recylex group has a total of eleven operating units and two administrative sites in France and Germany. In addition to the companies supported by Dentons, two other companies in the group, Norzinco GmbH and PPM Pure Metals GmbH, have also submitted applications for protective shield, whilethree other German subsidiaries requested self-administration under creditor protection. The Group's French companies are not affected. Andreas Ziegenhagen, Head of the Europe and German Restructuring practice, said: "With the filing for protective shield proceedings, we are making use of the most restructuring-friendly court proceedings in the interest of all stakeholders of the companies”. Advisor to Harz Metall / Weser Metall / German management of Recylex: Dentons (Berlin): Andreas Ziegenhagen (Partner, Restructuring, Berlin/Frankfurt), Dirk Schoene (Partner), Dr. Jan Seelinger (Counsel), Dr. Benjamin Kurzberg (Counsel), Judith Schmid (Senior Associate), Dr. Jakob Pickartz (Senior Associate), all Restructuring and Insolvency About Dentons Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com