Formidable track record and bench strength across the full scope of corporate matters including recapitalisation, IPOs and M&A. Clients benefit from the firm's strong alliance with law firms in Africa. "The lawyers' professionalism in the work they do and the good relationship they keep result in an absolutely transparent and confident relationship between the team and its clients."

Morais Leitão, Galvão Teles, Soares da Silva & Associados has traditionally had a strong focus on debt matters, but has bolstered its equity practice through its involvement in privatisations. Luísa Soares da Silva advised Caixa – Banco de Investimento and Bank of America Merrill Lynch, as the joint global co-ordinators, on the second phase of the reprivatisation of Redes Energéticas Nacionais (REN). Carlos Osório de Castro and Luísa Soares da Silva are recommended.

Morais Leitão, Galvão Teles, Soares da Silva & Associados’ recent mandates include initiating judicial recovery procedures and acting for Barclays, as a creditor, in the insolvency proceedings of Monofásica. Helena Soares de Moura heads the team.

Morais Leitão, Galvão Teles, Soares da Silva & Associados provides ‘an excellent all-round service, with commercially focused advice’. Its broad practice spans aviation, shipping and other forms of transport. The team is representing INAER Portugal in an administrative action and precautionary measure challenging the provision of helicopter emergency services by a Portuguese public company. Francisco de Sousa da Câmara leads the shipping practice, which includes Madeira-based Cátia Fernandes and Manuel Freitas Pita. Segismundo Pinto Basto leads the aviation team, which includes Luís Roquette Geraldes.

The ‘very professional’ team at Morais Leitão, Galvão Teles, Soares da Silva & Associados is acting for the newly established NOS Comunicações in a range of matters relating to the merger between ZON and Optimus and is also representing the client in challenging the decision of the telecoms regulator regarding a compensation payment. It represented Safira, an IT consulting boutique, during its sale to KPMG Portugal. Oporto-based António Lobo Xavier heads the team and Lisbon-based Nuno Peres Alves, João Alfredo Afonso, Gonçalo Machado Borges and Eduardo Maia Cadete are also recommended.

Clients remain enthusiastic about the firm’s corporate practice. The team “demonstrated an incredible knowledge on all the subjects this work covered,” says one M&A client, while others note the firm has “good knowledge of the client needs, very practical lawyers” and “seeks the solution and not the problem”. In highlight deals the firm, alongside Skadden Arps and Houthoff Buruma, continued to advise Portugal’s largest construction company Mota Engil in its plan to sell shares in its African subsidiary (43% of the company’s revenue) through an IPO in London to raise capital. In mid-2014 the company announced it would postpone the listing. The firm also advised Sonaecom in relation to a €215 million tender offer by its own board of directors in exchange for Zon Optimus shares, completed in 2014 with an acceptance level of 62%. Elsewhere, the team assisted Banco Commercial Portugues on the sale of its stake in Millennium Bank Greece and investment into a Piraeus Bank capital increase and advised state-owned Caixa Geral de Depósitos (CGD) on the privatisation of Portugal’s largest insurer Caixa Seguros to China’s biggest private conglomerate Fosun International for €1.2 billion On the private equity side the firm won numerous mandates from ECS and in 2013-14 advised Vallis Capital Partners on its investments into companies in the construction, public works and engineering sectors under financial distress totalling €1 billion. The team was also supporting EU Steel on its judicial recovery procedure (PER) and recovery plan.

Morais Leitão Galvão Teles Soares da Silva & Associados (MLGTS) has maintained a solid team and keeps its rankings across the board. A projects client says the firm provides “good quality, permanent availability, senior staff involvement in the process, good relationship and a capacity to give tactical advice”. “Exceptional,” says another for a refinancing, while a restructuring client says the firm gave “excellent service in an extremely complex and tough negotiation”. “I consider them as the best law firm in Portugal,” says a debt capital markets client. Over 2013-14 the firm won numerous instructions from domestic and foreign Portuguese banks, in some examples advising a syndicate on the restructuring of the debt of a wine producer, a Portuguese bank on the €117 million debt restructuring of a Portuguese media company and two Portuguese banks on the restructuring of a football club. The team also received various mandates for the Portuguese Treasury and Debt Management Agency (IGCP) relating to derivatives matters and regular project finance and bank refinancing instructions from Banco Espírito Santo de Investimento throughout 2013 and 2014.

Practice head João Soares da Silva has recently focused his M&A practice in privatisations such as the one undertaken by Caixa Seguros e Saúde.

Carlos Osório de Castro is considered by peers as "one of the greatest Portuguese lawyers." He has notable experience in commercial and corporate matters and remains one of the most active members of the team.

Clients appreciate Nuno Galvão Teles' interaction, which they say "makes our relationship easier." He is a well-regarded practitioner and highly experienced in corporate, commercial and energy law.

Segismundo Pinto Basto frequently acts on domestic and cross-border M&A.

Tomás Vaz Pinto recently advised on the privatisation of Caixa Seguros e Saúde.

Clients appreciate Nuno Galvão Teles' hands-on approach, which they say "makes our relationship easier." He is a well-regarded practitioner and highly experienced in corporate, commercial and energy law.

Carlos Osório de Castro is considered by peers as "one of the greatest Portuguese lawyers." He has notable experience in commercial and corporate matters, and remains one of the most active members of the team.

Segismundo Pinto Basto frequently acts on domestic and cross-border M&A.

Practice head João Soares da Silva has recently focused his M&A practice on privatisations such as the one undertaken by Caixa Seguros e Saúde.