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.
Capital Markets: Securitisation
2008
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.
Competition/european Law
2008
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.