Jones Day, Uría assist in Portobello´s €120m acquisition of Legálitas

Jones Day has counselled Portobello Capital on its acquisition of a majority stake in Legálitas, advised by Uría Menéndez, for €120 million

Legálitas’ main objectives are to further its development and consolidation plans as the leading legal services platform in Spain, increase its commercial activity in the country, promote the continuous improvement of service and customer experience and expand customised solutions for families and small businesses, the firm said in a statement.

“We believe Legálitas has great potential as a major player in the digital legal aid services sector,” said Portobello Capital founding partner Luis Peñarrocha.

The international firm Tikehau Capital is acting as Portobello’s financial backer and reference partner in this transaction, which is subject to the final approval of the Directorate General of Insurance.

Legálitas has been advised by Arcano as the bank coordinating the process and Uría Menéndez as its Legal advisor, while Portobello Capital has been advised by Natixis Partners as financial advisor, Simon-Kucher as commercial advisor and Jones Day as Legal advisor, as well as KPMG as Due Diligence advisor.

Jones Day advised Portobello Capital with a team formed by of counsel Federico Merino (pictured top left) and counsel Beatriz Piriz (pictured bottom right), Banking & Finance partner Javier López Antón (pictured bottom left) and senior associate Elvira Coloma. Portobello was involved with two partners, Luis Peñarrocha Teres and Norberto Arrate. The team involved VP Joan Janso Caldentey and analyst Sofía Timón. Ignacio Gordillo (pictured centre) coordinated as in-house lawyer the Legal part of the operation.

Uría Menéndez´s team, advising Arcano, was led by partner Manuel Echenique (pictured top right) together with associate Sergio Moreno.