Portugal - Jurisdiction IFLR1000 Review

Garrigues

Firm overview

Garrigues is a full-service, independent law firm. Based in Spain (18 offices) and in 12 other countries, five of them in Latin America, it excels in virtually every area of practice. Its integrated approach allows the firm to provide clients with a full perspective, combining transactional, regulatory and tax implications in every assignment.

In Portugal, where it started operating as such in 2005, Garrigues has positioned itself among main law firms in the country. Garrigues is not only in some of the most important transactions taking place in the Portugues market, but also in extremely sophisticated deals which require high-end, practical and cutting-edge advice.

With over 30 years of experience, SRS Legal offers comprehensive legal counsel to both national and international clients, extending its reach through SRS Global's network in Angola, Brazil, Macau, Malta, Mozambique, Portugal, and Singapore.
SRS integrates the interests of internal and external stakeholders through its commitment to sustainability. This dedication translates to active contributions towards the UN Sustainable Development Goals (SDGs) through volunteer initiatives, fundraising activities, and close collaboration with NGOs and community projects, all aimed at implementing impactful initiatives that improve people's lives.
Our sector-specific approach involves dedicated teams of legal experts assembled for specific industry groups. This internal structure allows us to gain a deeper understanding of our clients' operating environments and collaborate more effectively to help them achieve their objectives.

Macedo Vitorino

Firm overview

Macedo Vitorino was established in 1996, focusing its activity on advising domestic and foreign clients in specific activity sectors, including banking, telecommunications, energy and infrastructures.

Since the incorporation of the firm we have been involved in several high profile transactions in all of the firm's fields of practice, including banking and finance, capital markets, corporate and M&A, etc.. We have also acted on many complex disputes and corporate restructurings.

We have strong relationships with many of the leading international firms in Europe, in the United States and in Brazil, which enable us to handle cross-border transactions effectively.

PLMJ

Firm overview

We are a leading national independent law firm in Portugal, specialising in corporate legal advice, with one of the largest teams of lawyers in the country.

We have been leading the way for over 50 years and are proud of the culture we have built. We see our clients' challenges as our own and we put our people at the heart of our strategy to consistently excel in delivering value to everyone who places their trust in us.

Our teams are made up of the best lawyers in the country, we offer a full service and we take a multidisciplinary approach. The agility of our teams, combined with in-depth knowledge of the sectors in which our clients operate, is a defining characteristic of the way we position ourselves: as true legal partners.

The only complexity we embrace is the complexity of the challenges our clients bring to us. In delivering solutions, we are passionate about clear communication and work with a strong focus on desired outcomes. We believe in long-term, transparent and committed relationships.

PLMJ Colab:

With the aim of being close to its clients, the firm has created PLMJ Colab, its collaborative network of law firms located in Portugal and other countries with which it has cultural and strategic links. PLMJ Colab makes the best use of resources and provides a concerted response to the international challenges faced by its clients, wherever they may be. National partnerships allow the firm to extend PLMJ's presence from Lisbon, Oporto and Faro to the Azores, Coimbra, Guimarães and Madeira. International cooperation is ensured through firms specialising in the legal systems and local cultures of Angola, Cape Verde, Guinea-Bissau, Mozambique, São Tomé and Príncipe and Timor-Leste.

IFLR1000 Reviews

Financial and corporate

Abreu Advogados

Abreu Advogados is an international law firm from Portugal with a focus on business law. The firm was established in 1993 and has grown from a staff of six to more than 300 in the last 27 years.

Focusses / specialisms

The firm has a particular strength in banking, M&A and projects development and finance work.

Key clients

Key clients include LNG exploration concessions, BIG, Dif Brokers, Credit Suisse, Caixa Geral de Depósitos, Banco de Investimento Global, Afifi Group, PRIO Group, Banco Português de Fomento, impactMarket, Efacec Group, Iberdrola Group, Chint Solar, Total, Grupo Marques and Grupo PH Energia.

Research period review: 32nd edition (2022/2023)

During the research period the firm was active in banking, Corporate and M&A, both debt and equity capital markets, project development, restructuring and insolvency.

In banking the firm worked on a variety of loan and financing transactions for both lenders and borrowers connected with banking, energy, financial services, real estate and technology and communication sectors.

In M&A the firm worked for buyers and sellers linked with financial services, consumer goods and services and technology on acquisitional transactions.

In private equity the firm worked on private equity M&A work for clients linked to financial services, aviation, automotive, technology and communications and consumer services.

In project development the firm worked on concession, licensing, negotiation, exploration contracts and concession deals for clients connected with energy, transportation, power and renewables.

In restructuring and insolvency, the firm worked on insolvency proceedings and corporate restructurings for clients connected with aviation, real estate, financial services and tourism.

During the research period of counsel Teresa Anselmo Vaz joined the firm from Sérvulo.

Deal highlights: 32nd edition (2022/2023)

Area 1 LNG €40 billion financing and project development

impactMarket €1.1 million IDO

Client Feedback: 32nd edition (2022/2023)

Banking and finance

"Besides technical expertise in the area they have a commercial knowledge of our main business needs and are able to provide commercially aligned advice."

"Good analytical and communication skills. Creativity in their problem solving."

"In banking, financing and M&A Abreu provides clear advice, always has a problem-solving attitude, aims to accommodate our requests."

"In banking, financing and M&A Abreu provides clear advice, always having a problem-solving attitude, aiming to accommodate our requests."

"Know-how, proactivity and support."

"Structured and detailed advice. Proactive."

Capital markets: Equity

"Their overall level of service is excellent as their team shows: deep knowledge and understanding of the legal framework; high technical competence; professionalism; vision and integrated analysis of themes, covering the various specialties of law; the team is always available and able to present their opinion and work within exigent time schedules."

"Also to be stressed is the great individual and collective performance, assertiveness in relationships with partners and high responsiveness with exemplary timing."

Financial restructuring

"Fast answers; knowledge and help in finding solutions when in the negotiations with the other parties."

Focus, commitment and finding solutions."

Financial services regulatory

"They are very responsive and always trying to accommodate our clients' needs."

Investment funds: Private equity funds

"They have a lot of experience in investment contracts, which helps us to a better negotiation."

M&A

"100% availability and concerned about how to better protect the client."

"Abreu's team is a real partner. The team is impressively available and ready to work around the clock; with an in-depth knowledge of M&A; imaginative and resourceful in negotiations and restructuring solutions; profound expertise on associated M&A and civil law matters.

"Abreu adjusts the team providing the assistance on a client-need basis, which greatly assists in value for money and in obtaining specialised multidisciplinary senior advice."

"Continuous availability and support."

"Critical thinking, strong technical skills, pragmatic and business driven solutions."

"Good responsiveness. Solid experience and track record."

"In the area of sustainability and real estate they provide us with strong support. "

“Also to be stressed is the great individual and collective performance, assertiveness in relationships with partners and high responsiveness."

"They actually listen to the client and are very careful and exhaustive in the opinions issued."

"Very collaborative, responsive team. "

"Very experienced, available and professional lawyers."

"Reliability on technical knowledge; flexibility to find the correct solution; positive and constructive interaction with the other party."

PPP/PFI

"Very proactive. Outstanding advice within litigation strategy."

Project development: Energy

"Abreu is very knowledgeable and experienced in M&A, with partner Manuel Santos Vítor’s expertise and experience in M&A and energy matters being very valuable as he has both a broad and detailed view of the M&A and energy sector. Partner Manuel Andrade Neves’ expertise and in-depth knowledge in public law zoning and planning matters as it applies to the renewables industry is also very valuable. The team works together as a multidisciplinary team to achieve the best integrated approach and result according to client aims. These two partners are very serious about client care and keen on creating and implementing practical approaches to allow a deal and project development to go forward while being attentive to risk mitigation. Their involvement in our matters always brings good solutions to the table and, mostly, unblocks negotiations and actions."

"Proactivity, flexibility and a deep knowledge regarding the related issues."

"Speed of response. Detail of response. Approach to find a positive commercially driven result not 'clock up hours'."

"They are available around the clock and tailor their assistance to efficiently meet our goals and aims. The different teams with special expertise work as one and that is shown in the end result as well as in the (efficient) billing. Advice is thus multidisciplinary from the start and covers the necessary fields and relevant matters."

"Partners are reactive, quite hands-on and generally available."

"They are a true partner in our endeavours in Portugal."

Project development: Infrastructure

"They provide assistance from a senior lawyer in a very consistent way. He knows our firm very well."

"Very good legal advice and support."

Nuno Barnabé

"Trustworthy and reliable on tax and structuring advice."

"Structured and detailed advice. Proactive."

"The same as attributed to Abreu - structured and detailed advice, proactive."

José Maria Correa de Sampaio

"Very committed to the processes and in providing timely feedback. High M&A experience."

"Capability to understand us and to look for solutions in front of challenges in the negotiations with the other parties."

"Finding solutions when facing any issues in the negotiations."

Ana Sofia Batista

"Ana Sofia has been assisting us with a number of assignments for many years. She is always very helpful and clear in her advice."

"Ana is very responsive and good at client management. It was a pleasure to work with her. She delivers under short notice."

César Bessa Monteiro Jr

"Proactive and business driven lawyer. Excellent in listening to your questions and providing suitable, pragmatic and executable legal advice. A strategist and goal-oriented with great communication skills."

Tiago Castro

"He is a real estate expert and very reliable."

Paulo de Tarso Domingues

"We would like to stress his exceptional competencies as a lawyer, as a leader and as a dedicated partner in every issue he deals with. Always available and forward thinking, Paulo has a clear understanding of the legal framework in which we do business, consistently applying his expertise for the optimal resolution of our requests."

Mario Joao Fernandes

"Outstanding proactiveness. Deep knowledge of the energy legal framework."

"Proactivity, different approaches and a deep knowledge."

Rodrigo Formigal

"Practice area expertise and acknowledgement of client's needs."

André Modesto Pinheiro

"André has a lot of experience in venture capital."

Antonio Pina

"Antonio Pina evidences longstanding experience in M&A transactions. He also regularly assists our group in the negotiation of loan agreements, meeting challenging deadlines and always bearing our interests at heart. He has a hands-on approach, he is very diligent, constructive and pragmatic."

"Antonio Pina has longstanding experience in M&A transactions. He also regularly assists our group on the negotiation of loan agreements, meeting challenging deadlines and always bearing our interests at heart. He has a hands-on approach; he is very diligent, constructive and pragmatic."

"Great responsiveness and solution implementation; deep knowledge of the law."

Marta Romano de Castro

"Reliability on technical knowledge; flexibility to find the correct solution; positive and constructive interaction with the other party."

Manuel Santos Vitor

"He has circa 30-year experience in corporate M&A with more than 20 years in matters within the energy and natural resources sector. This provides him with both a broad and detailed view on matters and their potential outcomes and greatly assists in establishing risks matrices in a specific matter or transaction.

As well as a goal-oriented and strategic thinker, Manuel's international and domestic experience and knowledge of the industry means that his advice is not only legal but practical, reflecting applicable laws, enforcement and industry standards. His competencies in several legal fields, strategic advice and coordination of the team (always focusing them towards the benefit of the client and the client's goals) is really something difficult to find elsewhere."""

"I have known him for the last 20 years."

"Manuel is very practical without losing attention to details. He is focused on achieving the client’s aims and is creative in his approach, finding solutions where others would find it hard. His knowledge of the Portuguese scene from an economic, social and legal standpoint is most valuable as he adds a global perspective and relevant strategic advice to legal services."

"Broad knowledge of law across all fields; available; exceptional team coordinator; general awareness of political and economic status and outlooks; full knowledge of corporate, M&A and energy projects matters with a profound knowledge of the industry, the associated risks from upstream to downstream and expert in risk mitigation through contractual structuring and negotiations. Very attentive to detail and, at the same time, brings innovative solutions to the table to deal with client's aims and negotiation deadlocks. "

Hugo Teixeira

"Speed of response. Level of detail. Understanding our business and needs."

José Carlos Vasconcelos

"Knowledge. Additional training and certifications (MBA). Dedication. Working capacity."

"Knowledge; availability; responsibility."

Patrícia Viana

"Deep knowledge of the subjects, dedication to the client, continuous support and availability."

"Experienced, responsive and a hard worker."

Azeredo Perdigão & Associados

Azeredo Perdigão & Associados is a corporate law in Portugal established in 1919. The firm has one office based in Lisbon.

Focusses / specialisms

The firm has a focus on restructuring and insolvency transactions and is also active in M&A transactions, within these areas the firm has specialised in working for retail sector clients.

Key clients

Key clients of the firm include Esselte Portugal, Glaxosmithkline Consumer Healthcare, ITX Portugal, Mediterranean Shipping Company Logistics, Pellenc Portugal, Primerbands, Sicasal, Tempus, Tecnifar, Teijin Automotive Technologies Portugal.

Research period review: 33rd edition (2023/2024)

During the research period the firm was active in M&A and restructuring and insolvency.

In M&A the firm worked on mergers, private acquisitions, divestments for clients connected with consumer goods and services, construction, real estate, transport, agriculture, manufacturing and aviation sectors.

In restructuring and insolvency, the firm’s work focused on insolvency proceedings, pre-payment arrangement for clients connected with shipping, aviation, industrials and manufacturing, pharmaceuticals and life sciences, food and beverage, consumer goods and services sectors.

Deal highlights: 33rd edition (2023/2024)

Tempus Distribuicao €300 million private acquisition

Triumph €400 million insolvency proceedings

Penixobra €600 million private acquisition

Client feedback: 32nd edition (2023/2024)

M&A

“Knowledge of real estate legislation; experience in the negotiation of purchase agreements.”

Miguel de Azeredo Perdigão

“A very good adviser. Very experienced in real estate transactions.”

Costa Pinto

Costa Pinto Advogados is a Portuguese law firm established in April 2013 by José Costa Pinto. The firm has one office in Lisbon.

Focusses / specialisms

The firm has a special focus on M&A deals.

Research period review: 33rd edition (2023/2024)

In M&A the firm worked on mergers, financial investments, joint ventures, asset acquisitions, private acquisitions, real estate acquisitions, asset acquisitions for clients connected with banking and real estate among other sectors.

During the research period finance and banking partner Ana da Ponte Lopes joined the firm from Banco de Portugal.

Client feedback: 32nd edition (2023/2024)

Investment funds

“Costa Pinto is knowledgeable of the market and has great insight in M&A and private equity operations. The firm strives to share knowledge with the civil society and participates actively in scientific events within its field of expertise. They were highly professional throughout the entire process, from the negotiation phase to the closing of the deal. The legal team was highly experienced and well-versed in all the legal and regulatory issues involved in the transaction. They demonstrated excellent understanding of the industry and market trends, which allowed us to make more informed and strategic decisions. I would highly recommend this law firm to anyone looking for exceptional M&A and private equity services. They are a highly professional and committed team, willing to work tirelessly to ensure the success of their clients.”

M&A

“Costa Pinto has an extensive knowledge of corporate matters and a vast experience in deals and M&A operations.”

Project finance

“The team were very direct, timely and effective. They were clear with the various alternatives and provided the necessary materials for us to consider alternatives in making the decision.”

Project development

“Available, advice on legal decisions to be taken and speed in necessary matters.”

José Costa Pinto

“José is hyperactive and very reliable: these two together mean that he is always available, that the work is directly undertaken by him and that nothing is neglected. He is technically excellent and an all-round lawyer for corporate M&A, with the schooling of a Simmons & Simmons and Uría alumni and the advantage of being in a boutique firm, hence, he is all over every matter.”

“Very close to the client.”

“Deep knowledge of the area.”

“José is the lawyer you can trust with your goals.”

“Available, advice on legal decisions to be taken, and speed in necessary matters.”

“Strong project management, knowledge of the subject matter and good advice.”

Miguel Inácio de Castro

“Attentive to detail, strong communication and timely execution. In addition, good knowledge of the transaction and compelling alternatives.”

Garrigues

Garrigues is an international firm founded in 1941 and with a strong focus on business law. The firm has established offices in 13 countries throughout Africa, Asia, Europe, North America, and South America.

Focusses / specialisms

The firm has a particular strength in capital markets, both debt and equity, and M&A transactions but the firm is also active in the banking and restructuring and insolvency practice areas. Within these areas the firm is a specialist in bank lending and financial restructuring transactions.

Key clients

Key clients of the firm include LaSalle Investment Management, Tristan Capital Partners, Caixabank, Jamestown, Henderson Park Capital, Blackbrook, Swiss Life Asset Management, Allianz Capital Partners, Banco Santander, MCH Private Equity, Angelini Pharma, Delta Cafés, Decathlon, Bain Capital Credit, Davidson Kempner, and Njord Partners.

Research period review:32nd edition (2022/2023)

During the research period the firm was active in banking, capital markets, M&A and restructuring and insolvency.

In banking the firm worked for more borrowers than lenders on a range of transactions including loan work but also financial restructuring transactions. The firm’s clients were connected with private equity, investment management, financial services, real estate and sports sectors.

In capital markets the firm worked on capital increase, share offer, fund formation, securitisations transactions for clients connected with banking, consumer goods, technology and telecommunications sectors.

In M&A the firm worked on financial investments, private acquisitions, asset acquisitions and divestments for both buyers and sellers connected with technology and telecommunications, industrials and manufacturing, insurance, construction, investment management, financial services and transports sectors.

In restructuring and insolvency, the firm worked on financing and sale of NPL Portfolio deals for clients connected with funds, private equity, investment management, investment fund and real estate sectors.

Deal highlights:32nd edition (2022/2023)

Blackbrook €13.8 million acquisition financing

Novo Banco €155 million capital increase of new shares

Shareholders of Rodman Lusitânia €18 million divestment

Client Feedback: 32nd edition (2022/2023)

Asset finance

"Hands-on approach, proactive; a very good and reliable legal team/partner to get transactions done."

M&A

"Assisted in all legal documentation, strategy and negotiation. "

"Commercial: high technical expertise, attention to detail, global view of the transaction. Tax: high technical expertise, reliability."

"Know how. Concise and sharp counsel."

"Partner availability is very good."

"Proactive, innovative and creative, attention to detail and very organised and pragmatic."

"Reasonable charges and fees."

"Very good in project management and coordination."

Private equity

"Business oriented, strategic vision, proactive, deep knowledge of the business specifics and applicable law."

Tomas Pessanha

"Extremely knowledgeable and able lawyer. Expert negotiator and excellent business acumen. "

Rafaela Reina

"Excellent professional with deep knowledge in M&A processes."

Vasco Rodrigues

"Hands-on and proactive approach; an excellent legal adviser/partner to get transactions done. "

"Excellent knowledge of the industry and respective legislation, very proactive with innovative solutions, good communication and problem solving skills."

Marta Rodrigues

"Knowledge and sharp counselling. Availability."

"Very good M&A advice. Good at getting clarifications and being proactive."

"M&A knowledge."

Gómez-Acebo & Pombo

Gómez-Acebo & Pombo is a law firm established in Portugal in 2010. The firm also has one office in Lisbon.

Focusses / specialisms

The firm has a particular focus on project development transactions and is also very active in project finance, restructuring and insolvency and M&A deals.

Key clients

Key clients of the firm include Densair, Hermès, Endesa, Grupo Alfa, Prisa, Sixth Street, Sovos, Suzlon, Energizer, WPD, Grupo Gransolar, Ergon, Esprinet, IVECO, FORD, De’ Longhi, Dos Grados Capital, Kobus Partners, Bluetree, Q-Energy, MOTA-ENGIL, Acciona Construcción, EDIVISA Consortium, Dos Grados Capital, IVECO, CNH Industrial, Sindicato dos Jogadores Profissionais de Futebol Foresight Group Acciona Construcción and BayWa.

Research period review: 32nd edition (2022/2023)

During the research period the firm was active in banking, debt capital markets, M&A, project development and finance and restructuring and insolvency.

In banking the firm worked in trade finance, real estate finance for clients connected with banking and financial services sectors.

In debt and equity capital markets the firm worked for issuers on bond and note issuances for clients connected with real estate, banking and financial services sectors.

In M&A the firm worked for buyers and sellers on private acquisition and real estate acquisitions transactions for clients connected with investment management, industrials and manufacturing, technology and communications,

In projects the firm worked on PFI, concession and project finance deals for clients connected to energy, financial services, construction and financial services.

In restructuring and insolvency the firm’s work focused on insolvency proceedings and special revitalization proceedings for clients connected with transport and sports services.

Deal highlights: 32nd edition (2022/2023)

Portuguese banking institution bond/note restructuring

DAK Americas M&A

MOTA-ENGIL € 50 million concession

Acciona Construcción € 150 million concession

Macedo Vitorino

Macedo Vitorino is a Portuguese corporate law firm established in 1996. The firm has one office in Lisbon and has six partners and 30 fee earners.

Focusses / specialisms

The firm has particularly a strong practice in project finance transactions but is also very active in banking and debt and equity capital markets work.

Key clients

Key clients of the firm include France Telecom, Orange, Nuestra Nueva Energía, Cohort, LVO Global AM, Nowo Group, Banvo Montepio, Sony and Apple.

Research period review: 33rd edition (2023/2024)

During the research period the firm was active in banking, debt capital markets, M&A, project development, project finance and restructuring and insolvency.

In banking the firm worked on loan transactions for lenders connected to banking and financial services.

In debt capital markets the firm worked on financing projects, bonds and note issuances for clients connected to banking, energy and investment services.

In M&A the firm worked for buyers and sellers, leaning more towards sellers connected to a range of sectors including telecommunications, energy, financial and real estate sectors.

In project development the firm worked on negotiation work for clients connected with insurance, telecommunications, energy, and health sectors.

Deal highlights: 33rd edition (2023/2024)

Fapajal €5.5 million bond issue

Client feedback: 32nd edition (2023/2024)

Banking and finance

“They worked with us and the other parties always with a view to simplifying a complex scenario of rights and obligations, and their interdependencies and recurrences. Simplifying and clarifying, but ensuring the overall balance, was key to getting it done.”

"Apart from knowledge and experience that they obviously have, they are trustable, and balanced in every judgement and counsel. Good negotiators with a good sense of what to hold on to and what to give away in order to close.”

M&A

“Experts in renewable energy assets. Good time response.”

“Very knowledgeable about the sector and quite quick to respond. High level of seniority.”

Project development

“Proactive, know-how, experienced.”

João Vitorino

“Very accessible. Deep knowledge of the renewable energy sector.”

Frederico Vidigal

“Generally very good.”

“Deep knowledge of the sector and availability.”

Susana Vieira

“Balanced, reliable, knowledgeable, action-orientated, not afraid of taking matters into her own hands despite seniority, very able to 'educate' her own team to follow same principles, to be as much as possible a reliable extension of hers, resourceful and with good initiative.”

"Reliable, rigorous, knowledgeable, balanced.”

Morais Leitão

Morais Leitão is a full-service law firm in Portugal. The firm has over 220 lawyers including 65 partners and has offices in Lisbon, Porto and Funchal.

Focusses / specialisms

The firm has a leader in the Portuguese market achieving top tier ranking across every ranked practice area in Portugal.

Key clients

In banking key clients include SPX International Asset Management, Banco Comercial Português, EDP E-Redes and Bradesco.

Research period review: 33rd edition (2023/2024)

During the research period the firm was active in banking, debt capital markets, equity capital markets, M&A, project development, project finance, restructuring and insolvency and structured finance and securitisation capital markets.

In banking the firm worked on a variety of loans, investment grade bonds, note issue and financing transactions for clients connected with banking, telecommunications, retail, investment funds, real estate, and financial services.

In debt capital markets the firm worked on bond and note issuances for clients linked to banking, retail, energy and financial services.

In M&A the firm worked on joint venture and acquisitional transactions for buyers and sellers connected with banking, financial services, technology, telecommunications, real estate, construction and energy.

In project development the firm worked on bidding, concessions and negotiations work for clients connected to energy, renewables and infrastructure sectors.

In project finance the firm worked on financing projects for clients related to banking and energy sectors.

In restructuring and insolvency, the firm has worked on non-performing loans assignments, insolvency proceedings, distressed asset acquisitions for clients connected to real estate, banking, energy and tourism sectors.

During the research period partner associates Rui de Oliveira Neves and João Honorato both joined the firm from GALP.

Deal highlights: 33rd edition (2023/2024)Aquila Capital €10 million project finance

SONAE - SGPS €90 million public acquisition

Client feedback: 32nd edition (2023/2024)

Banking

“Focus on the client, full dedication to the project, capacity to coordinate and execute large and complex projects.”

“Provided Portuguese law advice to banking syndicate for the financing of real estate transaction.”

M&A

“Availability and willing to make an extra effort during legal meetings with our counterpart legal team.”

Filipe Marques

“Availability, legal knowledge, solutions for the problems, flexibility.”

“Filipe is a brilliant lawyer, very knowledgeable and experienced.”

Mouteira Guerreiro Rosa Amaral & Associados

Mouteira Guerreiro Rosa Amaral & Associados (MGRA Sociedade de Avogados S.P.R.L.) is an independent law firm in Portugal established in 2004. The firm has three offices in Lisbon, Faro and Ponta Delgada.

Focusses / specialisms

The firm has a focus on M&A transactions but is also active in restructuring and insolvency deals. Within these areas the firm has a focus on working for clients from the technology and retail sectors.

Key clients

Key clients of the firm include Eze Castle Integration, Cannaeuro Group, SGPS, MAZARS, The Northern Trust Company, Synova Renewable Technology, Carristour, Pollet Water Group Portugal, shangol, Norvento Enerxia Lda, Hitachi Solutions, Bulgaria Air and RTS Atlantic.

Deal highlights: 33rd edition (2023/2024)

Synova renewable technology insolvency proceedings

TML transportes Metropolitanos de Lisboa €200 million project development

PLMJ

PLMJ is a Portuguese law firm established in 1967. The firm has over 270 lawyers and offices in Lisbon, Porto, The Azores, Coimbra, Guimarães, Madeira and Faro.

Focusses / specialisms

The firm has a particularly strong practice in banking, M&A, capital markets and restructuring and insolvency in all of which the firm is in the top tier for Portugal. However, the firm is also very active in debt and equity capital markets and project development and finance work.

Key clients

Key clients of the firm include CPPIB Credit Investments, Davidson Kempner European Partners, Cross Ocean Partners, Barclays Bank, Goldman Sachs, Bank of America Merrill Lynch, Apple Pay, JP Morgan, European Investment Bank, DK Partners, Deutsche Bank AG, Lloyds Bank, Citibank, Bank of America Europe, Galp Energia, Davidson Kempner Capital Management, ENGIE, RWE AG, Eco Wave Power, Ascendi Group, Cabo Verde State and Mercedes-Benz Financial Services Portugal.

Research period review: 32nd edition (2022/2023)

During the research period the firm was active in banking, debt capital markets, M&A, project development, project finance and restructuring and insolvency.

In banking the firm has worked on a variety of loan and financing transactions for borrowers and lenders connected with banking, investment management, energy and financial services.

The capital markets team was active in debt and equity. On the debt side the team advised a mix of banks and issuers on bond issue and securitisation deals. The firm’s equity capital markets engagements included IPOs, bond and note issuances for issuers connected with banking and financial services.

In M&A the firm worked on acquisitions for buyers and sellers connected with investment management, industrials and manufacturing, energy and construction sectors.

In project development the firm worked on licensing and negotiation work for clients connected with renewables, energy financial services and oil and gas.

In project finance the firm worked on financing projects for clients related to transport, energy, banking, investment, real estate and infrastructure sectors.

In restructuring and insolvency, the firm worked on insolvency proceedings and financial restructurings for clients connected to investment funds, sports, healthcare, technology and telecommunications and financial services.

During the research period restructuring partner Joaquim Shearman de Macedo and projects partner João Marques Mendes joined the firm from CMS Rui Pena & Arnaut. However, restructuring partner Filipa Cotta left the firm for VdA.

Deal highlights: 32nd edition (2022/2023)

321Crédito €250 million securitisation of credit portfolio

Attestor Capital/Trinity Investments and Pimco/Blackrock €2 billion insolvency

BNP Paribas and CaixaBank €178 million IPO

Davidson Kempner Partners €1 billion financing

START €3.5 billion energy project development

Raposo Bernardo

Raposo Bernardo & Associados-Sociedade de Avogados is a Portuguese law firm with offices in eight countries in Europe and Lusophone Africa.

Focusses / specialisms

The firm has a particular strength in project development work and has a focus on project finance and restructuring deals.

Key clients

Key clients of the firm include Caixa Bank, Sertorius Real Estate Investment Fund, Pulmantur Cruises, Binter Airlines, Portuguese Prime Property Box, Flying Tiger Copenhagen, Iberostar – Hotels & Resorts, Fund Box – Investment Fund, International Investment Bank, Bhb – Control and Measurement Systems and Gep Peritagens.

Research period review: 33rd edition (2023/2024)

During the research period the firm was active in banking, capital markets, M&A, project development, project finance and restructuring and insolvency.

In banking the firm worked on loan transactions for clients connected to banking and financial services.

In capital markets the firm worked for clients linked to banking and financial services.

In M&A the firm worked for clients connected to financial services, consumer goods & services and energy.

In project development and project finance the firm worked on the financing and development of projects in energy and infrastructure for clients connected with transport and renewables.

In restructuring and insolvency, the firm worked on corporate restructuring and insolvency proceedings for clients linked to insurance and banking.

During the research period Corporate and M&A partner Nelson Raposo Bernardo joined the firm.

Client feedback: 32nd edition (2023/2024)

Banking and finance

“The positive attributes of Raposo Bernardo are countless. They are remarkable, deserving all our respect for the quality of their work, in particular by the overall excellent assessment they do in terms of the development of the project and project finance, which is not common in the Portuguese market. In summary, remarkable, excellent and respected repeatedly in all the work they do.”

“We rely heavily on Raposo Bernardo in our legal matters and in the most critical decision-making issues. Our entire company sees Raposo Bernardo as a trusted consultant. To be honest, we completely trust their work and don't even look for alternative guidance in the most challenging cases. We have noticed a strong investment by Raposo Bernardo in people and technology. We found that they always present diversified teams, taking into account gender issues and different nationalities. They prepare in detail all their interventions, in order to guarantee that our interests are always safeguarded.”

“They are a very solid firm of lawyers in corporate matters, including public and private offerings of bonds and shares, mergers and acquisitions and restructurings. And they are well known for their work on the tax aspects of large corporate transactions, including planning procedures and tax structuring of operations. They demonstrate strong capacity in tax planning work related to mergers and acquisitions, joint ventures, debt restructurings and equity raising, among other matters. There is an impressive level of collaboration and harmony between the members of the different teams at Raposo Bernardo, which differentiates the service provided from other similar offices. They always have a holistic view of operations.”

“This firm has the precise profile we were looking for ages. Their efficiency and professionalism are impeccable, being able to input their depth and breadth when needed resulting in an astonishing outcome. They have an overwhelming capacity to handle complex and sophisticated matters and the responsiveness to assist in our demands and needs in a timely manner.”

“This law firm is distinguished by its exceptional level of service, unparalleled in Cape Verde. They have a very solid, experienced and technically well-prepared team. They are a highly proficient team. Specialised technical knowledge is always present. But what sets them apart is their depth of market knowledge, creativity and problem-solving skills, business insight and responsiveness.”

“Raposo Bernardo is strong in all areas. They are constantly recommended as an exceptional law firm in all areas, for being formed by great professionals, for their deep technical knowledge and the commitment that they put into the processes under their management. The TMT department is at the forefront of technology, delivering exciting industry seminars and participating in important business discussions. The department consolidates technology, media and telecommunications and offers multidisciplinary expertise covering regulatory, transactional and litigation advice.”

“This law firm has lawyers of the highest caliber, with a wealth of experience and technical knowledge, as a result of their involvement in multiple large-scale international transactions. The irreproachable service and the exceptional results make of Raposo Bernardo a top firm among its peers.””

“The most important strength of this office is it does a very good job, irreproachable, and is the best office in Cape Verde. They know the market like no one else. They have a very high technical quality.”

“Raposo Bernardo leads all operations in which it is involved. Its strengths are several offices in several countries, being very proactive, dynamic, always available to help. The lawyers are technically well prepared and it can be seen that they act as a team, giving enormous security. Raposo Bernardo is distinguished by the following attributes: quality of service; availability of the team; international presence; and ethics and transparency in the relationship.”

“From our experience it is easy to confirm that the firm has a very skilled and dedicated team of lawyers with extensive experience in both sophisticated transactional matters and high-stakes cases involving a wide range of issues and cross-border matters. Raposo Bernardo is the best law firm ever.”

“The team is fabulous, very efficient, they understand the issues that matter very quickly and offer practical and workable solutions. The most incredible thing is the respect that the competition has for them. They enjoy enormous prestige, and the performance of their team manages to be spectacular and unique because they have an excellent sense of the market, follow the best trends, and have fantastic relationships with different players. This allows them to anticipate different scenarios and thus find the best contractual solutions to defend our interests.”

“Responsiveness and service levels are at maximum, the quality of services is superb, and other firms are far from the quality and levels of service that Raposo Bernardo provides through lawyers with outstanding expertise. There is no other law firm based abroad that is even comparable to them.”

Capital markets

“The law firm of Raposo Bernardo is a leading firm in any place of the world. Its team's attention to detail and ability to provide a clear path through the complexity is impressive. They are very client-focused and offer outstanding responsiveness.”

“The firm Raposo Bernardo is the best international firm for Angolan affairs, and in fact the only one that has a vast structure of lawyers specialist in Angolan law, and this says everything. They are experts in solving and finding solutions to the most complex issues, so they deserve my full recognition and respect.”

“They are of a higher level, due to their capacity to put into practice legal knowledge for each specific situation. This requires relevant experience and extreme dedication, which, combined, produces a very strong capacity to approach new situations to benefit us and our business. This is certainly an advantage for our company and clearly demonstrates the firm's innovation and way of working.”

“The complexity of legal matters is not a problem for lawyers at Raposo Bernardo, nor is the sophistication or innovation of such matters. They are used to, and I speak from my own experience over many years, resolving all kinds of issues and conducting transactions with innovative and highly sophisticated solutions, particularly in the Cape Verdean legal system.”

Financial restructuring

“Raposo Bernardo has recognised experience in the market with the right profile for modern times and the high level of experience that enables it to add value to the projects of its clients. They have a culture and values guided by the concern to provide a quality legal service in which the client is the centre of their attention and care. All these qualities Raposo Bernardo has at a level that is not easy to find in the Mozambique market.”

M&A

“This firm is very professional and efficient in dealing with our operations and matters. They developed a profound knowledge of the facts, context and economics of the case. It is incredible how thorough and consistent advice on a range of complex issues they provide, with good commercial awareness that flows through to the advice and legal work.”

“Raposo Bernardo is a very competent and professional firm. They can equally well solve complex or simple problems, being eximious and efficient in dealing with complex matters. In the past year we have had some complex operations crossing multiple jurisdictions and the team of lawyers of Raposo Bernardo were spectacular.”

“Raposo Bernardo's level of service is quite fantastic and it looks like the lawyers live to solve our problems, from their maximum availability. In my opinion these same lawyers have raised the level of legal advice in Portugal, by the permanent assistance, depth of response, speed, tremendous knowledge of our sector and all sectors with which we relate. All the team reveal a strong team spirit that works perfectly. I know for sure that with this partnership we have an investment rather than expense, as we always end up recovering costs by the utility and advantage of their advice.”

“Raposo Bernardo has everything that is necessary for a law firm to be an excellent law firm: excellent technical capacity of the team; full willingness to listen to its customers at any time; local and international knowledge of the business world and projects of great scope and dimension; recognised experience in the legal market.”

Project development

“This law firm is special and unique. Their ability to address complex legal matters is anything but extraordinary, for the complete, robust and well-thought-out solutions they offer, as well as the sophistication of thought that Raposo Bernardo's lawyers have. There are no difficult subjects or ones that are not immediately addressed in terms of the proposed solution, which is always the most efficient and appropriate at each step.”

“From the experience of many cases and transactions handled with various brilliant teams from this firm, I can comment that the extent of the lawyers' knowledge of legal matters is both vast and international. The depth of the team is incredible, and this allows for a fantastic performance. Here I must stress the quality and speed of response with which we have always been accustomed, typical of a law firm with great know-how and exceptional lawyers who know the Mozambique market very well.”

“I have only positive attributes to give to Raposo Bernardo since they deliver with perfection every matter we have and within the budget defined, which is also an important aspect to highlight. We are more than pleased with their performance and it has been a value-add for our activity.”

“This law firm unites all the relevant requirements that matter to a client, dealing with complex and sophisticated themes with such facility and simplicity that it gives us the needed confidence and security in every important project. Therefore, I only have positive judgements combined with gratitude when it comes to commenting about this firm.”

“Raposo Bernardo work tirelessly to exceed our expectations in everything we ask of them. As true legal specialists in the Angolan market, the team combines traditional working principles with a present-day outlook to all our projects. They are professional, savvy and proficient, executing our legal matters expeditiously. The team are fully committed to bringing us an exceptional end result and ultimately client satisfaction is of paramount importance to them, a goal we value most. Though we faced challenges, they did not falter. We were always kept informed of progress and have been very involved with all aspects of the legal advising.”

“The quality of service is simply spectacular, they are practically available 24/7 and with a very cohesive team, which works in a complementary way. A law firm far above the national average. Their focus is our satisfaction, always bearing in mind the current legal and contractual framework. Raposo Bernardo is a pioneer law firm in Cabo Verde when it comes to client relations. Therefore, I highlight the following qualities that differentiate them from the competition: professionalism; business orientation; and excellent customer communication.”

Project finance

“This firm have the best technical experts I know and have had the pleasure to work with. They are excellent and 'top performers'. Raposo Bernardo tend to do exceedingly well in situations where we find it impossible or very complicated. Therefore, they only deserve the best rating of excellence.”

“It is no accident that the most complex, larger and demanding subjects that require more sophistication and demand are always delivered to this office. It is known in the local market that it is the best team for everything that is most demanding and so they are the leaders in the sector.”

“This firm has the capacity to conciliate the best team of lawyers in the country working on projects of this nature. Their projects and legal knowledge, commercial consciousness, deep understanding of the sector and legal work involved demonstrate their high quality, sophistication, innovation and professionalism. Surely the best law firm in the country.”

“Raposo Bernardo belongs to a restricted group of three or four law firms in Portugal that truly know how to work in project finance, project development, projects in general and infrastructure including energy. This a very specific domain which demands much technical background and legal knowledge and there are only a very few in the area. Raposo Bernardo has a tradition in this field, as well as all finance and corporate matters, which helps us a lot in the relationship with banks and other players also due to its prestige. Among many other aspects, I highlight its culture of perfection, its solid work, the tranquillity that they pass to us even when the project is very complex or at times like these we are living in. The international network of Raposo Bernardo is also excellent, which has helped us on many occasions.”

“Raposo Bernardo provides a wealth of legal industry knowledge ranging across all practice areas. They are truly capable of providing excellent client care service, genuine and thoughtful insight, and deliver more than expected. Their approach to challenges and opportunities is innovative. They are very detailed, organised, highly productive and consistently deliver as promised. They make sure they understand the full scope of the operation in the briefing meetings, which is a must have. It is a sophisticated law firm with international standards allied to strong local and industry knowledge. The work is done accurately and in a timely manner and the fees are more than reasonable! We will definitely have Raposo Bernardo on board on our next relevant project, apart from their daily advice.”

Restructuring

“Raposo Bernardo is a firm 100% focused on delivering results to the client, that gives us an assuredness about its work that is clearly above average. They provided us with technical excellence, industry knowledge and full-service capabilities. They are highly skilled for every complex restructuring you have. There is no other like Raposo Bernardo. Our opinion is that it is one of the best law firms in Portugal, which has had tremendous growth and presents a great dynamic.”

Manuel Albuquerque

“Manuel Albuquerque is a strong and very professional lawyer. He is very bright and very dedicated and committed to every job and to us as client. Manuel is also very talented in solving all the issues, from the simplest to the highest in terms of complexity. We are very pleased with his work.”

Joana Andrade Correia

“Joana is the leader of the office and a true leader. Joana has a long experience in Mozambique market and has become an important support for us, she is extremely competent and an excellent support for our company. All her advice is very solid and safe and I have never seen she fail. Joana is always well informed and extremely proactive in making us aware of the new legal rules and local practices. She is highly respected business lawyer and therefore has many contacts at the highest level, which is often a decisive factor.”

“Joana is extremely competent and an excellent support for our local activities. Joana's main quality is the precision and completeness of her legal assessment, standing out in the high degree of accuracy in her work. All her advice is very solid and safe, and I have never seen her fail. She is always well informed and extremely proactive in making us aware of the new legal rules and local practices. She has a long experience and has become an important support for us.”

“Joana Correia is an exceptional leading lawyer, an awe-inspiring professional. She is focused, incredibly intelligent, highly professional and very innovative. She always adds value to every transaction and her attitude in every work is contagious and reflects positively on the teams and in the results.”

“Joana Correia works closely with her clients as business partners. She is not only there to give the correct legal input, but she goes the extra mile and always tries to translate the complex legal framework into practical and useful solutions. Joana Correia is incredible and takes into account the client's specific needs, the company culture, the industrial relations and the client’s business goals. She gives straight and to-the-point advice.”

“Joana Andrade Correia is the main partner who leads the Mozambican practice and she is a top leading lawyer that leads a top team. She is an excellent lawyer. Very attentive and solicitous. There is no one with knowledge and international experience like Joana Correia in the Mozambican market. Our company has already recommended Joana Correia and Raposo Bernardo services to countless companies because our opinion couldn’t be better. She is very detailed in each analysis she does.”

“She is a fantastic lawyer. She has always been very focused on creating value for our company, avoiding legal adventures with little chance of success. She is a TOP lawyer. Highly recommended.”

“Joana is technically very well prepared, very solid and competent. An out-of-series lawyer.”

“Joana Correia has a solid experience and ability to find solutions. Joana has the ability to apply a clear strategy to complex situations. She is very savvy, experienced and technically strong. Joana has a fantastic ability not to panic and to provide pragmatic advice in projects with very tight deadlines.”

“I surely recommend Joana Correia for her high quality of service, expertise and impressive attention to detail. She is very practical, providing proper advice in any situation, no matter how complicated or delicate it is. Joana develops clear recommendations, corresponding to the client’s views.”

“With Joana we always feel she prioritises us as a client and does everything in her power to help our company to achieve our objectives and main purposes. This way, she ensures the best possible outcome on our behalf. She really does brilliant work with us. She has the ability to give the necessary confidence throughout every complicated situation, which is priceless. “

“Joana Correia impresses with her skilful handling of domestic and cross-border matters. She offers good technical insight and deep experience while dealing with our projects. She’s very client-orientated, always thinking about the client’s needs and expectations. I can always say the best of her.”

“Joana is very focused and client-orientated, very reliable and we are thankful for her fruitful cooperation and advice. We wish to continue with her expertise for good and long years to come.”

“Joana Correia is a wonderful lawyer. She is very proactive and dynamic. She is always looking for the best solutions for our matters and never gives up. She is also a good listener and has a bunch of soft skills that differentiate her from every other lawyer that I know. Very skilful and clever.”

Júlio Martins Júnior

“The ultimate specialist is Júlio Martins Júnior. He is a very practical lawyer who looks at problems clearly and identifies simple solutions. In Cabo Verde he has the best reference, as it closely follows world trends in TMT. He shows great flexibility at all times. He responds with great dedication, zeal and diligence to our most urgent requests. It is never too much to emphasise that Júlio is an excellent negotiator and mediator.“

“Júlio Martins Júnior is the key element to take into consideration. I find him incredibly responsive, knowledgeable, technically very knowledgeable, and excellent at complex issues. His understanding of market conditions greatly benefited our internal discussions and greatly influenced my thinking on terms and conditions, more so than previous lawyers I worked with.”

“It is difficult to find a lawyer like Júlio Martins Júnior who brings together national and international experience, practical sense, sense of opportunity, impressive persuasion and articulation skills. But what impresses me the most is the calm and mastery with which he conducts the negotiations. There is no way to take it out of focus. He always gets excellent results. If any company needs legal support in TMT, hire Júlio Martins Júnior. He has no competition.”

“Júlio Martins Júnior is brilliant. He always responds on time, is very intelligent and has excellent intuition. His perseverance and talent are contagious. He has a very strong multicultural component, and you can see that in his interventions. He is a legal icon in Cabo Verde.”

“Júlio is a spectacular lawyer, outstanding, always the most knowledgeable and problem-solver. He has a strong background and makes things happen. He solves problems assertively and quickly. He has an outstanding ability to find solutions to the most complex legal challenges. It is an honour to be able to rely on his legal advice.”

“The office in Cabo Verde is led by Júlio Martins Júnior. A top-tier attorney. He is phenomenal. He is one of those lawyers who, if called five minutes in advance for a board of directors meeting, is able to provide clear and concise guidance on a matter under his authority. For complicated, complex and challenging subjects, Júlio is the best. He is worth his weight in gold. His ability to study and present pragmatic solutions stands out.”

“Júlio Martins has a strong solid experience in the Cape Verdean market, trusted and one of the top lawyers of the country. Júlio is knowledgeable and technically very skilled.”

“Júlio is a superb lawyer. He is very comprehensive on his advice and always presents us with tailored solutions, which is, from my point of view, the greatest quality a lawyer can have. Professionally speaking, I am his biggest fan, recommending his services to everybody who asks me for a referral.”

“Júlio Martins Júnior is an authentic 'out of the box thinker'. The feeling is that we are not working with a lawyer, but with a friend who will do everything he can to help us achieve our goals. He is a highly valued professional because of his broad and diverse experience. As an exceptional attorney, I can only make favourable comments. He has a very positive attitude, excellent predisposition, but what is best about him is the combination of impeccable technical knowledge, practicality and seriousness.”

“Júlio Martins Junior is also fantastic lawyer, very complete and highly skilled. There is no complex matter that Júlio cannot solve and conclude. His cross-border experience combined with sophisticated procedures are shown in every work he presents. Júlio is unstoppable when it comes to any project, corporate or finance operation.”

Ana Cláudia Rangel

“Cláudia Rangel is an amazing lawyer, with a great attitude and a pragmatic character. She is very proactive and a fantastic client service and legal expert of the Angolan jurisdiction.”

“Cláudia Rangel is extremely competent and an excellent support for our local activities. Cláudia's main quality is the precision and completeness of her legal assessment, standing out for the high degree of accuracy in her work.”

“Ana Cláudia Rangel is an excellent lawyer. What impresses me most about Cláudia is her ability to see things from a high-level strategic perspective and her ability to examine the detail. She is very experienced, extremely collaborative and very client-focused.”

Nelson Raposo Bernardo

“Nelson Bernardo is a brilliant and leading lawyer. He is very clever, honest, clear, empathic and sophisticated. He has the ability to drive all the processes without any flaws and in the timings requested. He is the lawyer that every company wants and needs to have on its side to support its affairs and operations. There is no one like him. His knowledge in law and depth in every matter that he is leading are impressive and not forgettable. He always adds value to our transactions.”

“Nelson offers proven skills in developing strategy and implementing solutions that are singularly focused on each client’s often unique and specific goals. Over his more than 30-year career representing public and private companies across a wide range of industries, Nelson’s corporate skills have been honed to a razor’s edge.”

“He is leading lawyer in whatever project he is in, which clearly demonstrates his value and reputation. With Nelson on the board everybody is motivated and aligned by the dynamic printed by his mark. He owns all the technical part of the project and brings all his value-add due to his experience in financing corporate and banking and finance.”

“Nelson Bernardo is my favourite lawyer of all times. He is very experienced in the sector we work in, very respected in the market and an excellent professional.”

“Nelson Bernardo is a top lawyer that always surprises us with his solutions and alternative legal structures in our most complex projects. There is no other lawyer like him. He is also very easygoing in what happens in daily contact, very clear on his explanations and ages ahead of his time. Nelson can always give us a step ahead of what might happen in certain situation, which is superb in every complex matter. Every director of our company prefers to contact Nelson when we are facing a difficult challenge or transaction. He is a truly leading lawyer.”

“Nelson Bernardo is one of the top lawyers of Portugal, for sure, and one of the best I know worldwide. He is always very well prepared and is always available. He is able to see the big picture, which is a great asset. He covers the full range of corporate transactional work. Nelson is very strategist and very appreciated in the negotiations. There is no one like him.”

“I appreciate Nelson’s best skills in corporate and M&A, banking and financing and business transactions and operations in general. Usually, we ask for his talents in the most complex and sophisticated matters. He is distinguished in contractual negotiations and in technical terms. We couldn’t be better advised in so many ways.”

“Nelson Bernardo is the founding partner, with a large international experience. He gives sophisticated and in-depth advice. He has good contacts and is a charismatic lawyer that makes us feel very special. He reveals completeness, with high-legal knowledge in various finance and business areas, and very up to date. Most probably the best lawyer I know for banking, capital markets and corporate matters. He is a strong and very solid support in any project or operation.”

“Nelson Bernardo is the one to whom we turn when we have the most complex matters. There's no other like him to give us the right view and settle legal issues in Portugal. He's a lawyer who has everything a company needs. He has deep knowledge of the law and of our business. He has vision, sophistication, insight, experience and international financing knowledge.”

“Nelson Bernardo is an exceptional lawyer, very gifted and skilled in projects, project finance, corporate and energy. He is remarkable in leading projects and knows every aspect and every single clause of each contract that is being discussed.”

“Nelson Raposo Bernardo is an important reference in the advocacy for companies in Angola. He is incredibly bright and knowledgeable. He is fearless in everything he stands and defends on, leaving everybody absolutely convinced of his remarks and brilliant ideas. It is a pleasure to know him and to be able to work with him. His legal background comes from a long-distance and he is a true top lawyer, who is always sought for the most complex operations. In addition to being one of the lawyers who is best known and manages in Angolan law, he knows better than the local lawyers how to do business in Angola. He has a natural ability to solve problems and to help our company advance our goal. Apart from being a lawyer, he has reached the status of adviser of the board in many companies. For me he is a truly top lawyer.”

“Nelson Bernardo is top leading lawyer, very persuasive, very strong technically speaking and responsiveness with excellent skills. His ability and approach to negotiations is unbelievable. He has a wide experience of dealing with sophisticated transactions.”

“Nelson Bernardo’s positive attributes are immense. Nelson is an exquisite lawyer, very knowledgeable and technical, which leaves the adversary speechless in every negotiation process. His commitment and determination to get the deal done, the transaction closed, the agreement signed, the project concluded, is out of this world. We feel very safe with Nelson’s advise, and he always has the proper advice to give in every delicate and more complex situation.”

“I possibly know every lawyers that works in Portugal for project finance or projects thus I can confirm that Nelson Bernardo belongs to the group of three or four best lawyers in this area. Over several years he has acquired knowledge at technical level, speaks our language and is able to apply the law in a simpler manner and very effectively in every project. Towards a deadlock it is always Nelson that finds the solution to unlock the situation. In addition, he is always updated, with very innovative practices, and is the most skilful during a negotiation.”

“Nelson is an amazing lawyer, with a great attitude and a pragmatic character. His advice was simply phenomenal from start to finish. He is very proactive and has fantastic client service and legal expertise in projects, corporate finance and project finance. His most important positive attributes are strong knowledge of projects law, very fast to provide solutions for every problem, thinks out of the box, very innovative, strong commitment to our activity and total availability. He is a very strong asset in negotiating with authorities and has an argumentative capacity that makes the difference.”

“We have had a remarkable experience with Nelson Raposo Bernardo. He does the job 100% and is always there for us. He has strong leadership skills and can communicate without generating stress. Without his support, we would certainly not be as successful as we are today. He is very versatile and extremely efficient. He works very well with the regulatory agency and he is technically very well prepared. He manages to surprise with excellent results, even in the most dubious situations."

“He is a very solid, reliable, high-quality lawyer. He enjoys enormous prestige among his peers. Nelson is able to identify major issues/risks immediately and is not risk-averse. He has a direct communication style and even those without a legal background enjoy working with him because of his ability to be precise and one step ahead."

“Nelson Bernardo has the best analytical skills I know, which allows him to look at any situation and analyse it from all points of view. He is also very responsive with excellent speaking skills, which is very impressive. He has extensive experience of managing large-scale transactions that require a global regulatory and merger-control strategy together with his reputable experience.”

“Nelson specialises in accompanying us in major operations, he is technically brilliant, very rigorous and knows the main innovations in the sector in recent years. He has unrivalled talent. He is one of those specialist lawyers who promote the success of clients through their innovative legal solutions. Therefore, I take great pleasure in interacting frequently with him, a very kind, honest, serious and competent person.”

“Nelson Bernardo is the highest legal authority in Angolan law. He is an exquisite lawyer, very knowledgeable and technical that leaves the adversary speechless in every negotiation process.”

“Nelson is a very strong asset in negotiating with local authorities and has an argumentative capacity that makes the difference. We feel very safe with Nelson’s advice and he always has the proper advice to give in every delicate and more complex situation. He is superb as a lawyer and wonderful as a person.”

“With Nelson Bernardo we always feel he prioritises us as a client and does everything in his power to help our company to achieve our objectives and main purposes. This way, he ensures the best possible outcome on our behalf. He really does brilliant work with us. He has the ability to give the necessary confidence throughout every complicated situation, which is priceless. His brilliant legal expertise is invaluable to us.”

SRS Legal

SRS Legal is a Portuguese law firm established in 1992. The firm has three offices in Lisbon, Porto and Funchal. The firm has a global network in Angola, Brazil, Macau, Malta, Mozambique and Singapore.

Focusses / specialisms

The firm has a particularly strong practice in debt and equity capital markets but are also very active in banking, M&A and project finance.

Key clients

Key clients of the firm include Acciona, Government of Portugal / Parpublica, Port Authority of Lisbon, Regional Government of Madeira, Municipality of Oporto, Port Authority of Setúbal and Sesimbra, Thales Portugal, Transtejo, European Commission, FPT Energia Group, Linderito Solar, GALP, Reviva Capital and Fidelidade

Research period review: 33rd edition (2023/2024)

During the research period the firm was active in banking, debt capital markets, equity capital markets, investment funds, M&A, project development, project finance and restructuring and insolvency.

In banking the firm worked on refinancing, private placement of bonds and debt restructuring as well as a range of loan transactions for clients linked with real estate, banking and financial services, and consumer services.

In debt capital markets the firm’s work focused on fund formation, securitisations, bond and note issuances for clients connected with banking and financial services.

In M&A the firm has worked on acquisition and investment transactions for clients connected to insurance, investment management, healthcare, tourism, automotive and technology.

In project development the firm worked on procurement and project finance deals, concessions, procurement and negotiation work for clients connected to transportation, government and public body, renewables, social infrastructure and power.

In project finance the firm worked on financing for clients connected to shipping, construction, government and public policy, banking, transport, energy, oil and gas sectors.

In restructuring and insolvency, the firm worked on corporate restructuring and insolvency proceedings for clients connected to construction, insurance, technology, banking, financial services, oil and gas sectors.

During the research period corporate and M&A senior associate Miguel Pereira Bonifácio joined the firm from Finerge.

Financial services regulatory managing associate Miléne Zorron joined the firm from Deutsche Bank.

Deal highlights: 33rd edition (2023/2024)

Quinta do Quetzal – Sociedade Agrícola €159 million insolvency proceedings

Government of Portugal / Parpublica €150 million procurement

Shareholders of Smart Studios €200 million divestment

Rabobank €35 million private placement of bonds/notes

Afreximbank €100 million financing

Uría Menéndez – Proença de Carvalho

Uría Menéndez – Proença de Carvalho is an international law firm established in Portugal in 1997.

Focusses / specialisms

The firm has a particularly strong practice in M&A where they are in the top tier for Portugal, the firm is also very active in equity capital markets, projects development and finance, and restructuring and insolvency.

Key clients

Key clients of the firm include Barclays Bank Ireland, Santander Consumer Finance, Deutsche Bank Aktiengesellschaft, Morgan Stanley, Citigroup, Commerzbank Aktiengesellschaft, Société Générale, Ontario Teachers’ Pension Plan Board, Allianz Capital Partners, DST Group, Altice, Acciona Concesiones and Banco Santander Totta.

Research period review: 32nd edition (2022/2023)

During the research period the firm was active in banking, debt capital markets, M&A, project development, project finance and restructuring and insolvency.

In banking the firm worked for borrowers, sponsors and lenders on a variety of loan and financing transactions for clients linked to banking, financial services and real estate.

In equity capital markets the firm worked on share capital increase, share offer, derivatives and private placement of shares for clients connected with real estate, financial services, aviation and banking sectors.

In M&A the firm worked on private acquisitions and privatisation transactions for buyers and sellers connected with industrials and manufacturing, energy, oil and gas, banking, financial services, telecommunications and real estate sectors.

In project development the firm worked on PPP, licensing, concessions and negotiations work for clients connected to social infrastructure, renewable and financial services.

In restructuring and insolvency, the firm worked on insolvency proceedings and corporate restructurings for clients linked to financial services and construction.

During the research period corporate and M&A associate Ricardo Pintão joined the firm from CMS Rui Pena Arnaut.

Deal highlights: 32nd edition (2022/2023)

Barclays Bank Ireland €10 million financing with Visabeira Group

Bain Capital Credit €26.2 million scheme of arrangement

Morgan Stanley Europe SE and Citigroup Global Markets Europe AG €1.5 billion share capital increase

Ontario Teachers’ Pension Plan Board €1.5 billion private acquisition

Client Feedback: 32nd edition (2022/2023)

Asset finance

"Strong legal knowledge of the market. Lawyers' expertise in the real estate segment."

Bank lending: Lender side

"Industry knowledge. Expertise. Client focus."

Insolvency

"Expert in complex insolvencies and restructuring processes in Portugal. Very detailed and technically superior output. Business sensitivity to client's issues."

"Expertise, reputation."

"Very knowledgeable and experienced in the insolvency and restructuring fields. Very detailed and proactive. Outstanding results. Trusted partner."

M&A

"Competent, available and client oriented."

"Great knowledge of the business. Great negotiation skills. Very good technical support"

"Legal and fiscal advice. "

"Strong knowledge, expertise, extremely supportive."

PPP/PFI

"High technical knowledge."

Carlos Andrade

"Global understanding of issues."

"M&A deals."

Bernardo Ayala

"High technical knowledge."

Miguel Rodrigues Leal

"Expertise. Strong knowledge of the Portuguese legislation. Easy to work with."

"Availability. Knowledge and expertise. Client oriented."

"Expertise. Strong knowledge of Portuguese legislation. Easy to work with."

David Sequeira Dinis

"Very knowledgeable and experienced in its field. Outstanding results. Trusted partner."

"Availability (24/7), technical skills."

"David has a very strategic mind, analysing moves several steps ahead. Service to the client is given to its full extent and he has a full understanding and commitment to deadlines. David is very reliable, produces very creative solutions and has a very competent team behind him, which shares the same principles."

Catarina Tavares Loureiro

"Impeccable technical quality. Very good at solving problems and coming up with solutions. Full availability."

VdA Vieira de Almeida

VdA Vieria De Almeida & Associados - Sociedade de Advogados is a law firm established in 1976. The firm is based in Lisbon, has 48 partners and has established the VdA Legal Partners network which is active in 11 other jurisdictions.

Focusses / specialisms

The firm is a leader across the market achieving top tier status in all ranked practice areas in Portugal. The firm has also developed a specialism for working with clients connected to banking and financial services.

Key clients

Key clients of the firm include Alantra Partners, CGD, Kiloutou (Kapla Holdings Group), Morgan Stanley, Credit Agricole, Millennium BCP, Arrow Global, Deutsche Bank, AG, TrustEnergy, Banco Santander Totta, Nomura Aquinos Industry - Business and Management.

Research period review: 33rd edition (2023/2024)

During the research period the firm was active in banking, debt capital markets, equity capital markets, structured finance and securitisation capital markets, M&A, project development, project finance and restructuring and insolvency.

In banking the firm worked on a variety of lending and financial and debt restructuring, securitisations for clients connected with banking, financial services and real estate.

In debt capital markets the firm worked on bond and note issuances for clients connected with financial services and consumer services.

The capital markets team was active in debt and equity. On the debt side the team advised a mix of banks and issuers on bond issue and securitisation deals. The firm’s equity capital markets engagements included IPOs, acquisitions, de-listings, private and public offers for issuers connected with banking, financial services and the domestic market.

In M&A the firm worked on acquisitions for clients connected with banking and financial services, insurance, education, consumer goods and services and real estate.

In project development the firm’s work focused on concessions, negotiations and licensing work for clients connected with transport, oil and gas and financial services.

In restructuring and insolvency, the firm worked on corporate restructuring and insolvency proceedings for clients connected to banking, funds and financial services, as well as telecommunications services.

Deal highlights: 33rd edition (2023/2024)

Brisal – Auto-Estradas do Litoral €224 million financial restructuring

Finerge Group €2 billion project finance

TrustEnergy project development

Cellnex Portugal €70 million acquisition

Client feedback: 33rd edition (2023/2024)

Banking

"VdA's team is very knowledgeable and was extremely successful in managing all the different stakeholders involved, including 3 other law firms (national and foreign), a Lending Partner, regulator and a bank. They would carefully explain the rationale behind every change. VdA was also able to remove all blockers, ensuring a timely delivery of the project.”

Capital markets

"Timeline, anticipation on regulatory challenges, coordination with rest of the players.”

Insolvency

"Provide commercially focused and pragmatic legal advice.”

"Business Focus. Pragmatic."

M&A

"Knowledge, solid, quick answer, constructive and result oriented."

"PPP/PFI

"Speed, accuracy, professionalism."

Private equity

"The team demonstrates a strong know-how and is always quick on analysing and understanding any change on the regulatory framework (as suffered significant changes recently in Portugal/Europe). Additionally, they always provide client feedback and follow the agreed deadlines.”

"In the transaction support, they are also able to suggest solutions to problems found."

Maria Carrilho

"Maria's communication is flawless, she is able to adjust the communication to the level of knowledge of the stakeholders, to ensure it's understanding.”

She was also able to manage all stakeholders and meet every deadlines. Above all, she showed great knowledge of the industry and the legal environment in Portugal and abroad."

Benedita Aires

"Very good knowledge of ABS framework, international and portuguese, timeline and calendar management, ability to convince other parties with good arguments, flexibility and availability.”

Filipa Cotta

"Filipa is always contactable and able to provide timely and commercial advice in challenging circumstances."

"Very focused and problem solver."

Maria Leonor Piconez

"Deep legal knowledge, hard worker and proactive."

Sumila Santos

"Speed, accuracy, professionalism, knowledge."

ANDERSEN

Andersen is the Portuguese presence of the international law firm of the same name. They have offices in Lisbon and Porto.

Focusses / specialisms

The firm has a particular focus on M&A work.

Client Feedback: 32^nd edition (2022/2023)

Asset finance

"Experienced, efficient and speedy."

Financial services regulatory

"Andersen, was very efficient, clear, transparent, and straightforward, answering our needs and clarifying our doubts very detailed. They also added potential alternative paths that might fulfil our needs. Their ability to point out a particular direction that could open new business opportunities was very appreciated."

"(i) Extensive knowledge of the topic at hand, (ii) efficient approach to the topic and (iii) proactive to provide alternatives and/or solutions for unforeseen restrictions."

Antas da Cunha Ecija & Associados

Antas da Cunha Ecija & Associados is a Portuguese law firm incorporated in 2015. The firm is led by Fernando Antas da Cunha and has three offices located in Lisbon, Oporto and Braga.

Focusses / specialisms

The firm is active in M&A work.

Key clients

Key clients of the firm include SOAFRA, Zomeit and Capitais Privados.

CCA Law Firm

CCA Law Firm is a Portuguese law firm established in 1949. The firm is led by managing partner Domingos Cruz and is based in Lisbon and Oporto.

Focusses / specialisms

The firm has a focus on M&A work.

Key clients

Key clients of the firm include Tinsa, Aegon, Procter & Gamble, Dan Cake, Tayan, Coverflex, Loqr and Barkyn.

Client Feedback: 32^nd edition (2022/2023)

M&A

"Experienced, flexible and hardworking team. Always delivering to assure legal security without compromising goals and timelines. Great access to the entire team, from Partner to Associate."

CCSL Advogados

CCSL Advogados is a boutique law firm based in Lisbon.

Focusses / specialisms

The firm has a focus on M&A.

Client Feedback: 31^st edition (2020/2021)

Banking and finance

"Very good. Very insightful. Mafalda is great. I trust them a lot."

"The service is very good, in terms of quality, attention and time."

M&A

"CCSL has a tier 1 service and a very experienced team. Having worked with bigger and older law firms in Portugal, I can confirm that CCSL is definitely a leading firm in M&A and corporate law. The permanent availability and the continuous solutions presented to us is a unique and positive attribute."

"Extremely knowledgeable and 'no stone unturned' to find a solution."

"Know well the procedures and the legislation. It's always available. "

"Super-available at very short notice, hands-on and innovative solutions, looking for different solutions for the problems we faced."

"They are very flexible and aligned with the client's interest."

CMS Portugal

CMS Rui Pena & Arnaut is a Portuguese law firm was established in 2002 from a firm which had been working since 1964. The firm is led by managing partner Jose Luis Arnaut and has offices in Lisbon and Funchal.

Focusses / specialisms

The firm has a focus on M&A and restructuring and insolvency.

Key clients

Key clients of the firm include Caixa Económica Montepio Geral, Chamartín Group, Discovery Real Estate Fund, Explorer Investments, Iberis Capital, JP Morgan Securities, Aquila Capital, VINCI Energies, UBS and Lightsource BP.

Client Feedback: 32^nd edition (2022/2023)

Banking

"CMS are incredible proactive and responsive in their advice. They are also easy to work with and give us practical advice, both quickly and for great value."

Capital markets

"Reliable. Efficient. Adaptable. They have a strong and deep knowledge of capital markets transactions' structures and workflows."

Cruz Roque Semião & Associados

Cruz Roque Semião & Associados, branded as CRS Advogados, is a Portuguese law firm established in 2015. The firm has one office in Lisbon.

Focusses / specialisms

The firm has a focus on restructuring and insolvency.

Cuatrecasas

Cuatrecasas is a law firm which has its Portuguese origins in the Lisbon law offices that Armando Gonçalves Pereira founded in 1928. Since 1989, the firm has also had an office in Porto.

Focusses / specialisms

The firm has a focus on banking, debt and equity capital markets, M&A, project development and restructuring and insolvency.

Key clients

In banking, key clients of the firm include Novo Banco, JPMorgan, Morgan Stanley, Deutsche Bank, Bank of America Merrill Lynch, Natixis, BNP, BBVA, Nordic and CaixaBank.

In capital markets, key clients of the firm include Bank of America Merrill Lynch, Deutsch Bank, Iberwind Group, Servdebt, IFD, Grupo Pestana and DBRS.

In M&A and private equity, key clients of the firm include Bosch, DHL, Aroundtown, Truventuro, EKZ Renewables, MSC, JD Sports, Reden Solar and Orpea.

In projects, key clients of the firm include DP World, Cross Ocean Partners, Auto-Estradas do Atlântico, Iridium Concesiones de Infraestructuras, InfraRed Capital Partners, PTRW - Portugal Renewable Energy (Iberwind Group), Cintra, Strongeagle Mozambique Fund, Go Porto, Engie and Ventient Energy.

Client Feedback: 32^nd edition (2022/2023)

Banking

"Clear do's and don'ts, timely delivered."

Banking and finance

"Quick grasp of the Client's needs and flexibility to adapt to them."

DLA Piper ABBC

DLA Piper ABBC is a Portuguese law firm founded in 1982 and which since March 2017 is part of DLA Piper, with which it had already maintained close ties since 2010. The firm has one office in Lisbon. DLA Piper is a global law firm established in 2005 with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific.

Focusses / specialisms

The firm has a focus on M&A work but is also very active in banking.

Key clients

Key clients of the firm include Tikehau Investment Management, European Energy Efficiency Fund, Investec, Maya Capital, BBVA, Novo Banco, Lone Star Funds, Edyn Group, Deutsche Bank and Greenvolt.

Client Feedback: 32^nd edition (2022/2023)

M&A

"DLA is very committed to the transaction and are involved in all the different aspects of the transaction, having a complete overview not only of the legal side but also on the economics."

"Very responsible, deep knowledge, high capacity to look for solutions."

Enes | Cabral

Enes Almeida Cabral & Associados is a Portuguese business law firm established in 2021. The firm is led by founding partners Pedro de Almeida Cabral and Susana Enes and is based in Lisbon.

Focusses / specialisms

The firm has a focus on M&A.

Ferreira Pinto Cardigos

Ferreira Pinto Cardigos is a boutique Portuguese law firm based in Lisbon.

Focusses / specialisms

The firm has a focus on banking and debt and equity capital markets. They are also active in M&A and restructuring and insolvency.

Key clients

Key clients of the firm include Intrum, Beazley Group, BNP Paribas, Deutsche Bank, JP Morgan, HSBC, Barclays and DST Group.

Linklaters

Linklaters is the Portuguese presence of the international law firm of the same name based in Lisbon. Linklaters is an international law firm with 515 partners in 21 countries and led by firm-wide managing partner Paul Lewis.

Focusses / specialisms

The firm has a strong practice in banking, debt and equity capital markets, M&A, project finance and restructuring and insolvency achieving top tier status for Portugal for all these categories.

Key clients

In banking key clients of the firm include Novo Banco, Morgan Stanley, Nomura, BNP Paribas Personal Finance, ECS - Sociedade de Capital de Risco, Oitante, Banco Comercial Português and King Street Capital Management.

In capital markets key clients of the firm include China Three Gorges Europe, Novo Banco, Semapa - Sociedade de Investimento e Gestão, REN - Redes Energéticas Nacionais, Fosun International, Luz Saúde, Morgan Stanley, BNP Paribas Personal Finance, Credit Suisse and Oitante.

In M&A key clients of the firm include Cerberus Global Investments, ECS – Sociedade de Capital de Risco, Glennmont Partners, CK Infrastructure Holdings, Hanwha Energy Corporation, Morgan Stanley Infrastructure, Värde Partners Europe, The Carlyle Group, Novo Banco and Lincoln TopCo Pte.

In projects key clients of the firm include European Investment Bank, Marguerite Adviser, Hanwha Global Asset Corp, Mizuho Bank, Morgan Stanley Infrastructure, Banco Comercial Português, Petrogal, CRRC Tangshan, Mozambique Rovuma Venture and Barraqueiro.

In restructuring and insolvency key clients of the firm include ECS - Sociedade de Capital de Risco, Cerberus European Investments, DWS, Davidson Kempner European Partners and Bank of America Europe.

Luiz Gomes & Associados

Luiz Gomes & Associados is a Portuguese law firm established by managing partner Andre Luiz Gomes and is based in Lisbon.

Focusses / specialisms

The firm has a focus on banking and M&A.

Miranda & Associados

Miranda & Associados is a Portuguese law firm based in Lisbon and Porto. Through their network, Miranda Alliance, they offer commercial legal services in a total of 18 countries in four continents.

Focusses / specialisms

The firm has a particular focus on banking.

Key clients

Key clients of the firm include Sandfire Resources, Prosolia Group and Grupo Glintt.

Client Feedback: 32^nd edition (2022/2023)

M&A

"They are very committed with the project and always available. Very good knowledge of the corporate elements discussed."

NGA Advogados

NGA Advogados is a Portuguese law firm established by Luis Nobre Guedes and is based in Lisbon.

Focusses / specialisms

The firm has a focus on M&A.

Client Feedback: 31^st edition (2020/2021)

Restructuring and insolvency

"This law firm have been providing support in several legal aspects to our company. They are quick, responsible, effective and always available. We feel secure and trustful with them on our side. This is the best feeling we can have from a law firm."

pbbr

pbbr is a Portuguese law firm based in Lisbon and established in 2006.

Focusses / specialisms

The firm has a focus on banking work but is also active in M&A and restructuring and insolvency work. Within these areas the firm has a particular specialism in working for clients connected with the real estate sector.

Key clients

Key clients of the firm include Bouygues Telecom, Cushman & Wakefield, Sogevinus, Moretextile, ECS Capital, Chocolaterie Guylian, Bouygues Immobilier, Nexity, Haitong Capital, Caixa Capital, Investwood, Auden Foods¸ Kiabi Group, Democo, Signal Capital Partners, Serris Reim Asset Management, Avenue Real Estate, Atenor Group, Rockstone Real Estate, MDSR Investments, Gold Tree Investments, BitCliq Technologies, Visor.AI, IDAR Grupo, Eurofrozen, Prime Real Estate, EQTY Capital, Optimum Agriculture Advisors and Estrela SGPS.

Research period review:32nd edition (2022/2023)

During the research period the firm was active in banking, equity capital markets, M&A and restructuring and insolvency.

In banking the firm worked on lending and financial restructuring transactions for borrowers connected with financial services and aerospace services.

In M&A the firm worked on acquisitional transactions and joint ventures for buyers largely connected with the real estate, agriculture and energy sector.

During the research period Pedro Carvalho Martins joined the firm from Ferreira Pinto & Associados.

Deal highlights:32nd edition (2022/2023)

ABANCA Corporacion Bancaria €15 million financing facility agreement

Signal Capital Partners €150 million disposal to the US Fund Sixth Street and Acacia Point

Client Feedback: 32nd edition (2022/2023)

Banking and finance

"Excellent professional and effective legal advisory, hardworking and cohesive team."

M&A

"Boutique law firm. Great knowledge of the Portuguese real estate industry. Good attitude and focused on the deal completion."

"Focus on detail, solid expertise in real estate SPA negotiation and solid expertise in urban planning issues."

"pbbr is highly dedicated and commercially driven during negotiations, without losing focus on the deal."

Private equity

"Response time. Service quality. Act as business partners."

Restructuring: Corporate

"Accuracy, teamwork and focus on deadlines."

Carina Branco

"Best professional to work with."

"Availability and knowledge."

Teresa Freire

"Very experienced lawyer with strong problem-solving skills and a clear focus on finding pragmatic and efficient solutions."

Pedro Pinto

"Hard working, committed, knowledgeable, loyal, fun, ethical."

"Good communication. Great experience and knowledge.

"Pedro Pinto always listens to you while trying to find a solution to your problem. Business-oriented attitude, without prejudice to his client's interests. A pleasure to work with."

PRA - Raposo Sá Miranda & Associados

PRA - Raposo Sá Miranda is a Portuguese law firm established in 2001. The firm has offices in Lisbon, Oporto, Faro, Ponta Delgada and Leiria.

Focusses / specialisms

The firm has a focus on M&A and restructuring and insolvency work.

Client Feedback: 31^st edition (2020/2021)

Banking and finance

"Professional and competent."

Capital markets: Equity

"Available; professional comments; 24-hour response."

Financial services regulatory

"Ability to establish relationships and strong in discussions between parties."

Insolvency

"They are always attentive, and quick with the decisions we need to take and first of all they study the case very well."

Investment funds: Private equity funds

"PRA provided solid guidance throughout the transaction, both in terms of debt acquisition, negotiation support with various stakeholders, restructuring legal support and detailed scenario analysis based on legal constraints that supported our decision-making."

M&A

"Proactive advice. Organised. Knowledgeable. Experience. Fast."

"I would say their level of experience and their availability, as well as proactivity, attention to detail, understanding of the big picture, strategic thinking, good risk management."

Private equity

"Deep legal background. Understanding the impacts of legal issues on the firm's evolution."

Project development

"Unlimited professionalism from the whole team (from the elements that are involved in our project). Always available. A technical capacity to find solutions even in the most demanding and complicated situations. Strict adherence to deadlines."

Riquito Advogados

Riquito Advogados is a law firm operating in Macau and Lisbon.

Focusses / specialisms

The firm has a focus on M&A.

Client Feedback: 32^nd edition (2022/2023)

Restructuring

"Constructive legal opinion and useful advice."

Serra Lopes Cortes Martíns & Associados

Serra Lopes Cortes Martins & Associados is a Portuguese law firm established in 1961 by partners António and Maria de Jesus Serra Lopes. The firm is currently led by managing partner Luis Cortes Martins and is based in Lisbon.

Focusses / specialisms

The firm has a focus on banking, M&A and restructuring and insolvency.

Key clients

Key clients of the firm include Banco Commercial Portgues, Sovena Group, Elaia Group, Caixa Economica, Novo Banco, ECS Capital, Grupo JAP, Diaverum, Grupo Jose de Mello and Nutrinveste.

Client Feedback: 32^nd edition (2022/2023)

Insolvency

"Accuracy, technical competence and availability."

M&A

"Knowledge of the sector and its specific legal framework."

Sérvulo & Associados

Servulo & Associados is a Portuguese law firm established in 1999 by Jose Manuel Servulo Correia. The firm has 100 lawyers based in their office in Lisbon.

Focusses / specialisms

The firm has a focus on banking, debt and equity capital markets, project development and finance and restructuring and insolvency.

Key clients

In banking key clients of the firm include Banco Comercial Português, Novo Banco, Montepio Investimento, BBVA – Instituição Financeira de Crédito, Banco Santander Totta, Oney Bank, EDP Comercial – Comercialização de Energia, PAGAQUI – Pagamentos e Carregamentos, BES - Banco Espírito Santo and BANIF - Banco Internacional do Funchal.

In capital markets key clients of the firm include Cofina, Autonomous Region of Madeira, Flexdeal Simfe, Novo Banco, Edp – Energias De Portugal, Interfundos – Gestão De Fundos De Investimento Imobiliário, Edmond De Rothschild Europe, Crest Capital Partners - Scr, Hcapital Partners – Scr and SQUARE – Sociedade Gestora de Fundos de Investimento Imobiliário.

In M&A key clients of the firm include Antin Infrastructure Partners, Regional Government of Madeira and Guang Dong Kinlong Hardware Products (HK).

In projects key clients of the firm include Ministry of Finance of Cape Verde, Unity of Special Projects Management, Sociedade de Desenvolvimento Ponta do Oeste, Sociedade de Desenvolvimento do Porto Santo, Regional Government of Madeira, Metropolitano de Lisboa, Infraestruturas de Portugal, Lusíadas Saúde Group, Metropolitan Area of Lisbon and Metropolitan Area of Oporto.

In restructuring and insolvency key clients of the firm include Banco Espírito Santo, Banco Internacional Do Funchal, Banco Privado Português, Ferrovial/Msf – Barragens, Monumental Residence – Empreendimentos Imobiliários, Orey Financial – Instituição Financeira De Crédito, Nilit France and Grünenthal.

Client Feedback: 32^nd edition (2022/2023)

Banking and finance

"Knowledgeable, available, experienced."

SPS Advogados

SPS Advogados is a Portuguese law firm established in 1989. The firm is led by managing partner Pedro Malta da Silveira and is based in Lisbon.

Focusses / specialisms

The firm has a focus on restructuring and insolvency.

Key clients

Key clients of the firm include Grupo Affidea Portugal, Opel Portugal, Automóveis Citroen, Peugeot Portugal, Ripsurf, MHIRI Innovation, Caetano Coatings, S.P.P.S. Santa Rita, R.H. VILAR and Acushnet France.

Client Feedback: 31^st edition (2020/2021)

Banking and finance

"Always present the best solution for each case according to the desired result."

"Practical view; understanding the economic impact and helping to find solutions to mitigate negative impact. Knowledge about our business."

M&A

"Very focused on getting the best solution for the customer."

Project development

"Very focused on the client's needs and wide view of proposals for achieving goals. Search for solutions."

Restructuring: Corporate

"Knowledge of the specifics of the sector, knowledge of the specifics of the law."

Financial and corporate

CTSU - Sociedade de Advogados

CTSU - Sociedade de Advogados is a Portuguese law firm led by managing partner Mónica Moreira and with offices in Lisbon and Porto.

Focusses / specialisms

The firm has a particular focus on M&A.

Client Feedback: 32^nd edition (2022/2023)

M&A

"CTSU provides full legal assistance in M&A transactions, from DDs to closing. The M&A Team is very experienced and provides very proactive and added value assistance, through all transaction process. Team members are always available and have deed legal and business expertise, contributing to the success of the transactions."

"Very professional, client oriented, deep market and legal knowledge. The firm's advice is not restricted to legal matters but always brings added value to business."

J+Legal

J+Legal is a Portuguese law firm based in Lisbon.

Focusses / specialisms

The firm is active in M&A, project finance and restructuring and insolvency.

Key clients

Key clients of the firm include SAPEC, IAP, Hertz, FIGB, Hotel Lisboa, Marinhave, Blue Tagus and Deckskill.

Client Feedback: 32nd edition (2022/2023)

M&A

"Available, Technically Experienced, Knowledgeable and Experienced, Business wise."

Telles de Abreu & Associados

Telles de Abreu & Associados is a Portuguese law firm founded in 1992 with offices in Lisbon and Porto.

Focusses / specialisms

The firm has a particular focus on project development work.

Key clients

Key clients of the firm include Fuste Group, Vigent Group, Alten Group, BBL Group, Orpea Group, Lionesa Group, Livraria Lello, NATIXIS, PSA Group and Wavecom.

Client Feedback: 32^nd edition (2022/2023)

M&A

"Very good advisors both from a legal perspective but also with a strong background on tax and finance."

Project development

"Very proactive support, excellent knowledge of the renewable energy industry, tailormade solutions for the individual project."

Vasconcelos Advogados

Vasconcelos Arruda & Associados is a Portuguese law firm founded in 2012 and based in Lisbon.

Focusses / specialisms

The firm has a particular focus on M&A.

Client Feedback: 32^nd edition (2022/2023)

Capital markets : Equity

"Quick response time, solution oriented mindset, willingness to adapt to our particular reality, Easiness to reach, knowledge."

M&A

"On the negotiations held the firm come up with innovative solutions, helping de-risking the transactions in order to achieve an agreement with the seller."