Uría Menéndez and Cuatrecasas ‘leading firms’ for Iberian M&A in Q1 2018

Uría Menéndez and Cuatrecasas were the two law firms that advised on the most M&A deals in Iberia in the first quarter of 2018, according to a new report from Mergermarket.

 

Uría Menéndez advised on 13 deals with a total value of almost €40 billion – the €32 billion Abertis takeover accounted for most of this value. Meanwhile, Cuatrecasas also advised on 13 deals (which had a total value of €3.7 billion).

The third ranked firm was Garrigues, which advised on 11 transactions with a total value of €14 billion. Pérez-Llorca was instructed on nine deals with a total value of €4 billion, while PwC Legal advised on eight transactions with a total value of €37 million.

Allen & Overy was the sixth-ranked firm – it advised on five transactions with a total value of €33 billion, while Osborne Clarke was ranked seventh having been instructed on five deals totalling €299 million in value. Clifford Chance handled four deals with a total value of €35 billion.

Freshfields was instructed on four deals with a total value of €33 billion, while Baker McKenzie advised on four deals with a total value of €32 billion.

“After avoiding major consequences from the Catalan independence push, Iberia has started 2018 boasting a number of high profile deals which have propelled the Q1 value to €43.8bn spread across 103 transactions, the third best-performing quarter value-wise on Mergermarket record(since 2001),” the report said. “Relative to Europe, Spain and Portugal achieved a 20.3 per cent share of the overall M&A value (€215.4bn), rendering the quarter the best performer since Q1 2009 (22.3 per cent).”

The report continued: “Cheap financing and continued strong economic performance have helped dealmakers sign blockbuster transactions which have seen some of the region’s largest companies change ownership. Spanish activity was marked by the unexpected outcome in ACS and Atlantia’s pursuit of Abertis. Both companies, initially competing, reached an agreement which will allow them to jointly own the Spanish infrastructures company. The deal is valued at €32.1bn, making it the second largest for the country on Mergermarket record, behind Acciona and Enel’s acquisition of a 46 per cent stake in Endesa for €40.7bn in 2007.”

Uría Menéndez and Cuatrecasas ‘leading firms’ for Iberian M&A in Q1 2018

Ben Cook

iberianlawyer.com

Iberian Lawyer, is a monthly digital magazine, published by LC Publishing, available in Spanish and English. It represents the main source of information in the legal business sector in Spain and Portugal. The digital magazine – and its portal – address to the protagonists of law firms and in-house lawyers. The magazine is available for free on the website and on Google Play and App Store.

In every issue of the magazine, you will find rankings of lawyers, special report on trends, interviews, information about deals and their advisors.

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