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Chambers Global

The Firm

Peers agree that this experienced group should remain at the top of the rankings for its sheer size - it is one of the largest firms in Portugal - and its repeated involvement in headline deals. For example, the team recently assisted Sonaecom with the financing of the hostile public bids for the entire share capital acquisition of Portugal Telecom and of PT Multimedia. While clients remarked on the “strong bench of associates behind the leading lawyers,” competitors underlined that the merger with Oporto-based firm Osório de Castro, Verde Pinho, Vieira Peres, Lobo Xavier e Associados enhanced the firm’s banking team, as does its “impressive portfolio of national and international clients”. Clients/Work Highlights: The group advised an international syndicate of banks on the Portuguese law aspects of the financing and creation of a security package for the EUR520 million acquisition of Amorim Imobiliária by Inmobiliaria Chamartin. The team also assisted the bank syndicate headed by Eurohypo on the Portuguese law aspects of a global financing made available to British Land for the purchase of properties in Europe, including the EUR39 million acquisitions of two Portuguese retail parks in Portimão and Aveiro. The outfit also represented Portuguese banks in the EUR400 million financial rebalance agreement entered into between the concessionaire of the North Motorway and the Portuguese Republic. Caixa - Banco de Investimento; Bes Investimento; Millennium BCP Investimento and EDP - Energia de Portugal are other key clients of the group.
Peers unanimously identify this group as one of the leading forces in the Portuguese securities market, covering the whole spectrum of capital markets matters, including securitisation. In the words of a rival who recently acted opposite the team: “Its performance was faultless and lawyers showed great professionalism all the way through - they understand the market perfectly and know just how to react in each situation.” Clients agree, adding that the group possesses “astonishing levels of resources and know-how.” These were recently put to use when advising on takeover bids for PT and BPI. Clients/Work Highlights: The group advised Portucel on the Secondary Public Offering of the 25.7% stake held in the company by Parpública SGPS. Sonaecom instructed the group to advise on the preparation and submission of a takeover bid for the acquisition of the share capital of PT - Multimédia. The group represented Millennium bcp in the EUR28.4 million acquisition of 100% of the share capital of bcpBank Canada by BMO Financial Group. Other notable clients of the group include EDP; REN; Mota-Engil; Banco Santander and Inapa.
Peers unanimously identify this group as one of the leading forces in the Portuguese securities market, covering the whole spectrum of capital markets matters, including securitisation. In the words of a rival who recently acted opposite the team: “Its performance was faultless and lawyers showed great professionalism all the way through - they understand the market perfectly and know just how to react in each situation.” Clients agree, adding that the group possesses “astonishing levels of resources and know-how.” These were recently put to use when advising on takeover bids for PT and BPI. Clients/Work Highlights: The group advised Portucel on the Secondary Public Offering of the 25.7% stake held in the company by Parpública SGPS. Sonaecom instructed the group to advise on the preparation and submission of a takeover bid for the acquisition of the share capital of PT - Multimédia. The group represented Millennium bcp in the EUR28.4 million acquisition of 100% of the share capital of bcpBank Canada by BMO Financial Group. Other notable clients of the group include EDP; REN; Mota-Engil; Banco Santander and Inapa.
Split between the firm's Lisbon and Porto offices, this experienced team works jointly on traditional competition matters and a number of other fronts, from litigation to compliance programmes. It also boasts noteworthy experience in key sectors such as telecoms, energy, pharmaceutical, distribution and construction. The firm maintains an international profile reinforced by its membership of the Lex Mundi alliance, and its lawyers are commended for being “technically strong yet understated practitioners.” Clients/Work Highlights: Lawyers successfully advised Sonaecom on filing its projected acquisition of sole control over Portugal Telecom SGPS and PT MULTIMEDIA before the Portuguese Competition Authority. The group also recently claimed a victory for Optimus before the ECJ in a lawsuit against the Portuguese tax authorities regarding the payment of stamp duty. Other leading clients include TAP Portugal; Mota Engil; Jerónimo Martins; REN and Ernova.
In recent years, and particularly since its 2006 merger with top Porto outfit Osório de Castro, Verde Pinho, Vieira Peres, Lobo Xavier e Associados, this firm’s corporate and M&A offering has gone from strength to strength. Lawyers advise a significant number of companies listed on the Portuguese Stock Exchange and offer particular expertise in the banking, energy and telecoms sectors. Clients recommend this “one-stop shop” for the “consistently high-quality work produced by these outstanding lawyers.” Commentators were quick to highlight the excellence that pervades all levels of the team, from senior to junior lawyers. Clients/Work Highlights: The team advised Papeles y Cartones De Europa (Europa&C) on the EUR65 million structuring and submission of a tender offer of the shares representative of the share capital of Gescartão. Lawyers assisted Millennium bcp with the restructuring of its joint venture, with an international partner, to develop a motor vehicle rental business. The firm also advised BMO Financial Group (formerly Bank of Montreal) on its EUR28 million acquisition of bcpbank Canada. Other clients include Sonaecom; Bertelsmann; OMNI; REN and RTL.
Market sources agree that this major Portuguese firm has maintained its usual high level of litigation activity and that it clearly belongs to the top tier. One interviewee declared: “This is a top-quality group with the ability to respond efficiently and rigorously to the clients’ needs.” The team’s typical workload includes cutting-edge cases in the IP and pharmaceutical sectors in particular. Clients commented: “Sound experience, business oriented approach, reliability and an ethical attitude are some of these lawyers' qualities.” Clients/Work Highlights: Clients of the group include REN; TV Globo; Pfizer; Optimus and Inapa.
After a busy year advising Sonaecom and Millennium bcp on their ground-breaking takeovers bids for Portugal Telecom and Banco BPI respectively, the firm has convinced many commentators that it is a force to be reckoned with in the corporate and private equity markets. Sources commented: “The group possesses plenty of resources and masses of potential to be one of the main national players.” Recently the team advised ECS Capital on the incorporation of the largest private equity fund in Portugal, valued at over EUR90 million. Clients/Work Highlights: Lawyers represented EDP in the sale of 5% of the Portuguese energy transmission system operator to a private equity fund.
Drawing upon its skills in the energy and finance sectors, this practice is one of the leading names for projects work. It has experience in infrastructure and construction matters and is also taking on more environmental projects, sources report. On the renewable energy front, for instance, the team represented a syndicate of Portuguese and foreign banks in the EUR985 million refinancing of wind farms and hydropower plants. Clients are full of praise for the “outstanding quality of both the work and the lawyers,” with one competitor concluding: “This is an extremely good team.” Clients/Work Highlights: The lawyers advised an international syndicate of banks on a EUR647 million project refinancing for Tejo Energia, and advised another banking syndicate on financing facilities for a police and emergency services communications system. The team also advised on a EUR175 million financing for the developer of the Grande Lisboa motorway. Other notable clients are RBS; Bes Investimento; Millennium bcp Investimento; EDP - Energia de Portugal and Banco Português de Investimento.
This 20-member team enjoys a well-earned reputation as “one of the best tax groups in the country - it is technically flawless and amazingly solid,” market sources confirmed. Over the past year the lawyers played a key role in ground-breaking hostile takeover bids, representing Sonae and Millennium BCP. As well as its strong Lisbon-based group, the firm fields noteworthy tax outfits in Porto and Madeira. The practice covers the whole spectrum of tax matters, advising public and private companies from the pharmaceutical, financial, tourism, energy and telecoms industries. Clients reported: “The quality of the work is outstanding - this is the perfect choice if you have a complicated case.” Clients/Work Highlights: The team advised Abbott on structuring the acquisition of Guidant’s business in Portugal, and represented Chevron in matters relating to its Madeira companies and its investment structures. The group also provided tax advice to Grupo Jerónimo Martins relating to major restructuring and litigation issues. Other leading clients include Caixa Geral De Depósitos; Deustche Bank; Inforauto; Tap and Mercapital.

Lawyers

Undoubtedly a high-profile name in the area, Luís Branco is dubbed “the best-known lawyer in the Portuguese banking sector.” Observers commented how “his friendly approach makes negotiations much smoother.” Branco is also renowned for his top-notch performances in the projects sphere.
Filipe Lowndes Marques was recently elevated to partner and is considered to be among the “brightest lawyers in Lisbon.” Involved in many banking and finance transactions, he also advises on projects and investment fund matters.
Carlos Osório de Castro received enthusiastic praise from peers, with one declaring: “He is one of the brightest minds in the country.”
João Soares da Silva’s “precise and effective advice, coupled with professionalism and dedication” are major draws for clients.
Market sources identify Filipe Lowndes Marques as the “best asset” of the firm’s securitisation practice.
Carlos Botelho Moniz is highly praised for his firm grasp of competition matters, particularly EU law, and is widely respected as a “leading figure in the team.”
According to admiring market sources, Joaquim Vieira Peres “is results-oriented.” Interviewees described him as “a solid and tenacious lawyer who excels at providing ad hoc and well-structured solutions.”
Interviewees agreed on Margarida Rosado da Fonseca’s rich experience in the market and describe her as “one of the future stars of the group.”
Miguel Galvão Teles attracts widespread commendation from the market. He "has a brilliant mind and is excellent at devising strategies and explaining complex principles.”
Clients identify Carlos Osório de Castro as “a genius in corporate and capital markets work." Others add: “He is bright and has a great understanding of clients’ needs.”
João Soares da Silva has an excellent reputation in the market as a “pragmatic and technically proficient” lawyer with a broad range of expertise, including corporate and capital markets matters.
Sources report that Nuno Galvão Teles “defends each client's position vigorously and has a keen understanding of the Portuguese market.” Clients appreciate “his creative and pragmatic approach.”
Segismundo Pinto Basto attracts praise for his excellent relationships with local companies, as well as his “calm and professional attitude.”
Tomás Vaz Pinto is seen as a “bright young lawyer with great potential.”
Seasoned José Manuel Galvão Teles focuses his attention on carefully selected high-profile litigation and arbitration cases. He is a widely respected figure among peers for his “unmatched experience and immense knowledge.”
Observers describe Miguel Galvão Teles as an “outstanding and bright lawyer who commands the respect of all parties in the courtroom.”
Clients reported that: “António Pinto Leite is a true fighter who keeps innovating in his approach and always finds a solution.” Recently he has been increasingly involved in arbitration proceedings, as well as in the firm’s management.
Young partner Rui Patrício “already enjoys an impressive reputation” sources acknowledge. Working in civil and criminal litigation, he is considered “a very worthy adversary” by his peers.
Tomás Vaz Pinto from the corporate is one main partner dealing with private equity matters.
Filipe Lowndes Marques from the finance department is one main partner dealing with private equity matters.
Head of the banking and project finance group, Luís Branco is lauded as “one of the best lawyers in the field, thanks to his creativeness and straightforward attitude that makes transactions move smoothly.”
Interviewees also reserve praise for “thoughtful and efficient” Filipe Lowndes Marques, describing him as an “excellent team player.”
Clients admire Francisco de Sousa da Câmara for his great local and international tax knowledge. “We always feel safe in his hands,” one client commented.
António Lobo Xavier is “amazing technically,” and impresses clients with his consistently “proactive, reliable and competent” advice.

Patrons of the Serralves Foundation's National Contemporary Art Collection