Operating in Spain since 2000, Linklaters has become one of the leading law firms in the country. Fielding a team of over 130 lawyers, Linkaters is one of the most established and renowned law firms in Spain.

In addition to our leading team dedicated to Spanish law, in Madrid we also have lawyers specialised in English and U.S. law who advise on the international aspects of the transactions in which we are involved. Our people also include four academics (catedráticos) who are highly regarded in the Spanish legal field. As a result, Linklaters’ Madrid office is able to offer technical excellence and sound and comprehensive advice on almost all key areas of business law.

We offer three core capabilities:

These capabilities are complemented by market-leading specialist teams in real estate, Antitrust & Foreign Investment Group, public/administrative law, tax, employment and restructuring & insolvency, technology, intellectual property and data protection.

We have been involved in many of the highest profile and most complex corporate and financial transactions, both domestic and cross-border, that have taken place in Spain in recent years, advising the world’s leading corporates, financial institutions and investment banks.

As the only international firm with its own offices in Spain and Portugal, we are able to offer a fully integrated Iberian practice, thus providing clients with a one-stop shop. We also work very often with the São Paulo and New York teams on international transactions in Latin America and the United States.

Recent transactions include advising:
  • IFM Investors on the €5.06bn public takeover offer (and acquisition financing) for up to a 22.69 stake in Naturgy.
  • SIX Group on the €2.84bn public takeover bid made for Bolsas y Mercados Españoles (recently awarded “Deal of the Year” by Spanish media coverage Expansión in 2020).
  • Carlyle on the €2.4bn acquisition of a minority stake in Cepsa.
  • I-Squared on the €1.5bn sale of T-Solar, with projects in Spain and Italy (we also advised on the previous acquisition).
  • The managers on the (i) €7bn macro rights issue by Cellnex Telecom; and (ii) €3bn rights issue by IAG.
  • The managers on the (i) €3bn perpetual hybrid bonds issued by Iberdrola (largest debt issue in the history of Iberdrola’s group); and (ii) €2bn perpetual hybrid bonds issued by Iberdrola (largest issue of a green hybrid bond ever).
  • Banco Santander, Bankia and Caixabank on the successful €1.35bn claim for damages against the Spanish government over the Castor gas storage facility.
  • On the restructuring of the financial debt of several companies such as Abengoa, Prisa, DIA, Lecta, Deoleo, OHL and Grupo Siro, among others.
  • The lenders on the €3.5bn bid financing for a public to private proposed acquisition by KKR, Cinven and Providence for MasMovil Ibercom.
  • BBVA, BNP Paribas and MUFG on the world’s first syndicated loan on blockchain granted to Red Eléctrica Corporation (which has become the first business in the world to deliver a syndicated loan using blockchain).
  • Intu Properties on several investments and desinvestments such as the (i) sale of Intu Asturias shopping centre (“Parque Principado”); (ii) acquisition and subsequent sale of the Puerto Venecia shopping centre in Zaragoza (one of the largest shopping malls in Europe); and (iii) acquisition of the Xanadú shopping centre in Madrid (one of Spain’s largest malls); among others.
  • Apple on a potential collective claim that may be brought by a consumer association in Spain and on the Italian judgement on planned obsolescence involving iPhone 6 Serie.
  • Real Madrid Club de Fútbol on the appeal to the General Court of the European Union against a European Commission decision from 2016 that forced Spain to recover €18.4m from Real Madrid alleged illegal state aid.
  • Various UK credit entities, investment firms and management companies providing regulated services in Spain on the implications of Brexit, including the reorganisation of certain banking groups across Europe.
  • Several multinational companies on the implementation of temporary suspension of employment or reduction of working hour schemes in the context of Covid-19 pandemic.

Linklaters operates in Spain through Linklaters S.L.P., an affiliate of Linklaters LLP