David Franco

Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has advised the real estate group Inmobiliaria Colonial (Colonial) and its French subsidiary Société Foncière Lyonnaise (SFL) on the successful conversion of all of the Colonial group’s outstanding senior bonds into 'green bonds'. The bonds represent an aggregate principal amount of €4.6bn and were issued by Colonial and SFL. They are listed on Euronext Dublin, Euronext Paris and the Spanish fixed income market AIAF. Freshfields acted as sole transaction counsel on the deal. The Colonial group is a leader in the European prime office market, present in the main business areas of Barcelona, Madrid and Paris with a prime office portfolio of approximately 1.6 million square metres and a property portfolio valued at more than €12bn. The conversion was carried out via a consent solicitation process whereby bondholders of 11 series of bonds were asked to approve the allocation of an amount equivalent to the outstanding principal amount of these bonds to the financing or refinancing of a portfolio of eligible green assets of the Colonial group. At the various bondholder meetings held, the bondholders of all 11 series approved the conversion into 'green bonds'. Colonial is now the first and only company in the Spanish Ibex 35 share index with 100% of green bonds. The deal represents another milestone in our growing sustainable finance practice across Europe for our large clients in a wide range of sectors. The Freshfields team advising Colonial and SFL was led by counsel Joe Amann in Madrid and partner Fabrice Grillo in Paris, with the support of associates Chelsey Kaka, Lou Bernard and Javier Gonzalez, partners David Franco and Duncan Kellaway and trainee solicitor Chloé Clavell.

Mar 1

1 min

Freshfields Bruckhaus Deringer (‘Freshfields’) has advised SSE Renewables on the acquisition of the existing European renewable energy development platform of Siemens Gamesa Renewable Energy for a consideration of €580m, subject to customary adjustments. The transaction marks SSE's entry into Southern Europe and brings a c.3.9GW portfolio of onshore wind development projects across Spain, France, Italy and Greece. It builds a platform for SSE's growth in Europe where it aims to progress a balanced portfolio of assets across wind, solar, batteries and hydrogen technologies. The transaction is likely to complete by the end of September 2022, subject to receipt of relevant foreign direct investment and regulatory approvals. The Freshfields team is being led by corporate partners David Franco (Madrid) and Nick Jones (London) with support from finance partner Tim Pick (London) and people & reward partner Raquel Florez (Madrid).

Apr 21

1 min

El bufete de abogados internacional Freshfields Bruckhaus Deringer (‘Freshfields’) asesora al fondo inversor Cinven en el “Octavo Acuerdo de Cinven Fund” para la compra de una participación mayoritaria en idealista Global, S.A.  (‘idealista’), portal inmobiliario líder en España, a EQT, Apax, Oakley y distintos managers, entre otros. La transacción ha alcanzado un valor de 2.900 millones de euros, y se convierte así en la mayor adquisición de una empresa online en España. idealista es una compañía española fundada en el año 2000 que ofrece a través de Internet, entre otros, servicios de portal inmobiliario en España, Italia y Portugal. El equipo de Freshfields fue liderado por Armando Albarrán, socio responsable de Mercantil y Fusiones y Adquisiciones, quien ha contado con la socia Miriam Pérez-Schafer y los asociados Mario Pacini, Íñigo Ríos, Álvaro Luaces, Alberto Broseta y Adriana Fernández, todos del equipo de Mercantil y Fusiones y Adquisiciones. La counsel, Carla Gómez, y la asociada, Laura Cue, han asesorado en otros aspectos mercantiles. También han asesorado en la operación los socios Christopher Davis, Aled Batey y Ana López, del área de Finance; el socio, David Franco (Mercantil y Fusiones y Adquisiciones), el counsel, Ignacio Borrego (Público Administrativo), y el asociado sénior, Asís Martín de Cabiedes (Mercantil y Fusiones y Adquisiciones) en aspectos regulatorios; los socios Rafael Murillo y Natalia Gómez en los aspectos procesales; y en materia de competencia, el socio Álvaro Iza y el asociado sénior Luis Loras. Los aspectos fiscales de la operación fueron liderados por nuestra socia May Smith (Fiscal). Esta última transacción, pone de relieve la larga y sólida relación de Freshfields con Cinven, tras haber asesorado a Cinven en el “Sexto Acuerdo de Cinven Fund” para la venta de una participación mayoritaria en Partner in Pet Food, anunciada por nuestro equipo en el Reino Unido también el 27 de junio de 2024; así como, en su posición como accionista de MásMóvil, en la joint venture de MásMóvil con Orange por 19.600 millones de euros, la mayor operación de M&A en el sector de las telecomunicaciones en España.

Jul 2

2 min

Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) is advising international private equity firm Cinven on the Eighth Cinven Fund’s agreement to acquire a majority stake in idealista Global, S.L.U. (‘idealista’), Spain's leading real estate portal from, among others, EQT, Apax, Oakley and certain managers. The transaction is valued at €2.9 billion, making it the largest acquisition of an online company in Spain. idealista is a Spanish company founded in 2000 that offers, among other products, real estate portal services in Spain, Italy and Portugal via the Internet. The Freshfields team was led by Madrid partner Armando Albarrán, head of Corporate and M&A, who was assisted by partner Miriam Pérez-Schafer as well as associates Mario Pacini, Íñigo Ríos, Álvaro Luaces, Alberto Broseta and Adriana Fernández (all Corporate/M&A). Counsel Carla Gómez and associate Laura Cue have also advised on corporate law aspects. Other team members advising included partners Christopher Davis, Aled Batey and Ana López (Finance); partner David Franco (Corporate/M&A), counsel Ignacio Borrego (Public Law) and senior associate Asís Martín de Cabiedes (Corporate/M&A) on regulatory aspects, Partners Rafael Murillo and Natalia Gómez on dispute resolution aspects. On competition matters, partner Álvaro Iza and senior associate Luis Loras advised. The tax aspects of the transaction were led by our partner May Smith (Tax). This latest transaction highlights Freshfields’ consolidated relationship with Cinven, having advised Cinven on the Sixth Cinven Fund’s sale of a majority stake in Partner in Pet Food, conducted by our team in the UK, which was announced at the end of June this year. Furthermore the team advised the Seventh Cinven Fund as a shareholder in MásMóvil, in the MásMóvil joint venture with Orange for €19.6 billion, the largest M&A transaction in the Spanish telecoms sector.

Jul 2

1 min

Global law firm Freshfields advises Allfunds Group plc (‘Allfunds’) on its recommended cash and share acquisition by Deutsche Börse AG (‘Deutsche Börse’). Allfunds is a leading global dealing and distribution platform in the wealth management industry, listed on Euronext Amsterdam. Deutsche Börse is a global market infrastructure provider for trading markets in financial instruments, headquartered in Frankfurt. The transaction, valued at approximately €5.3bn, is expected to complete in the first half of 2027 subject to the approval of Allfunds’ shareholders and regulatory conditions being satisfied. The Freshfields team is being led by partners Nick Jones, Stephen Hewes and Michael Black on M&A, Uta Itzen, Andreas von Bonin and Jenny Leahy on antitrust, David Franco and Cyrus Pocha on financial regulation, Alice Greenwell on employment, Martin Hutchings on finance, Christoph Seibt on German law matters and Hanneke Rothbarth on Dutch law matters.

Jan 22

1 min