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Carlos Albiñana, who leads the tax practice team in Jones Day's Madrid Office, has advised leading multinational enterprises (MNEs) and domestic clients on the tax aspects of a wide range of transactions for more than 25 years. He has considerable experience in the financial, industrial, energy, telecommunications, real estate, and construction sectors, including on transactions such as Spanish real estate investment trusts (REITs/SOCIMIs), M&A, private equity, general lending, project and asset finance, restructuring, securitization, derivatives, employee incentive schemes, and domestic and international tax planning.

Carlos' recent engagements include the representation of OPSEU Pension Plan Trust Fund on the Spanish tax aspects of its additional investment in the Spanish infrastructure group GlobalVia; Abertis in connection with the international tax aspects related to an additional investment in SANEF, a French concession company; Comienzos Siglo XXI on the partial disposal of a minority stake in Grupo Paraguas (a Spanish leading restaurant group); and the financial entities in the receivables securitization of the Ferroglobe Group.

He has lectured at tax seminars and directed advanced tax programs at IE Law School in Madrid since 1995.


  • Laureate Education to sell Brazilian operations to Ser Educacional S.A. for R$3.862 billionJones Day is acting as special tax counsel to Laureate International, Inc. in its entering into a definitive agreement with Ser Educacional S.A. for the sale of its Brazilian operations.
  • Pepper Group to sell Pepper European Servicing to Link Group for €165 millionJones Day is advising Pepper Group Limited, a leading diversified global consumer finance business, in connection with its sale of Pepper European Servicing (PES) to Link Group.
  • Ferro expands receivables purchase programJones Day advised Ferro Corporation, a leading global supplier of technology-based functional coatings and color solutions, in connection with the expansion of its receivables purchase program with ING Belgium in Europe.
  • Ferro Corporation to sell its global Tile Coatings Business to Lone Star FundsJones Day is advising Ferro Corporation, a leading global supplier of technology-based functional coatings and color solutions, in the sale of its global Tile Coatings Business to Pigments Spain, S.L., a portfolio company of Lone Star Funds, for $460 million in cash, with potential earnout payments of up to $32 million in cash based on the performance of the business pre-closing, subject to customary adjustments.
  • Merchant banking firm and Fortress Credit provide secured credit facility to Win SystemsJones Day represented a merchant banking firm and Fortress Credit Corp. in connection with a secured credit facility provided to Win Systems, an international developer of gaming machines software and manufacturer of gaming machines.
  • Portobello sells 80% interest in Centauro to MutuaJones Day advised Portobello Fondo III, FC de Regimen Simplificado in the sale of all of its shares in Sildoscain Spain, S.L., (Centauro), which represents 80% of the share capital, to the Spanish company Mutua Madrileña.
  • Whisbi receives €5 million investment from Cipio PartnersJones Day advised Whisbi in connection with the €5 million investment in Whisbi by Cipio Partners, a private equity fund.
  • CBRE Global with Azora and Tamerlane acquires "Heart" of Vicente CalderonJones Day advised CBRE Global Investment Partners in its acquisition with Azora and Tamerlane to acquire and develop the best two plots in the Green Corridor of Madrid Rio, owned by the Football Club Atletico de Madrid and located in the former Vicente Calderon Football Stadium premises.
  • Softonic sells 34% stake to U.S. investor Michael Levit and German group EyeoJones Day advised the shareholders of Softonic International S.A. in the sale of a 34% stake to the U.S. investor Michael Levit and German multinational Eyeo.
  • Société Générale-led syndicate provides €680 million corporate debt financing in favor of Urbaser, S.A.U.Jones Day advised Société Générale, S.A., as agent, and a syndicate of lenders in connection with the novation of a €680 million (US$774.6 million) corporate debt financing granted in favor of Urbaser, S.A.U., a waste management company.
  • BANCALE, the Spanish Family Office divests 100 percent stake in distributor K-TuinJones Day provided legal advice to Bancale in the divestment of 100 percent stake in the distributor K-Tuin.
  • Greystar mergers three student housing companiesJones Day advised Greystar Real Estate Partners, LLC in its merger of Encampus Residencias de Estudiantes, S.L. and Siresa Campus Noroeste, S.L., into Siresa Campus, S.L.
  • Sacyr Group obtains financing of up to €43 million (US$48.8 million) for construction of extension of public works concession agreementJones Day provided legal advice in connection with the €43 million (US$48.8 million) project financing for the construction of Phase II of a public works concession agreement.
  • Spanish bank provides €586 million financing for acquisition of almost 56 percent shares of Itinere InfraestructurasJones Day advised a Spanish bank, as lender, in connection with the €586 million (US$672.7 million) financing of the acquisition price of almost fifty-six percent of the shares of Itinere Infraestructuras, S.A., a major Spanish infrastructure management company, provided to an SPV (Global Rail Sur, S.L.) owned by Globalvía Inversiones, S.A.U.
  • Amundi Asset Management acquires “Portico” Building in Madrid, SpainJones Day advised Amundi Asset Management in connection with the acquisition of the “Portico” Building (a 34,500 sqm, fully let, multitenant office property located in Madrid) from UNION INVESTMENT REAL ESTATE GMBH.
  • Mapei acquires TecnopolJones Day advised Mapei S.p.A. in its acquisition of Tecnopol Sistemas, S.L.U., a Spanish chemical company leader in the production and distribution of waterproofing and insulation systems for the construction industry.
  • Entravision Communications acquires SmadexJones Day advised Entravision Communications Corporation in its acquisition of Smadex, a digital advertising technology company headquartered in Barcelona, Spain.
  • Spanish construction and services company Sacyr and Marguerite Fund refinance one of its Spanish road infrastructure assetsJones Day provided legal advice to Sacyr, Valoriza Conservación de Infraestructuras and Marguerite Silver in connection with the refinancing, through a bond issuance listed in Frankfurt, of the Arlanzón highway project located in Spain.
  • Spanish bank completes $1.347 billion initial purchase of asset-backed notes and certificates issued by Santander Prime Auto Issuance Notes TrustJones Day represented a Spanish bank in connection with the initial purchase of $1.347 billion asset-backed notes and certificates issued by Santander Prime Auto Issuance Notes Trust 2017-C.
  • ING Bank N.V., Sucursal en España and Finacity Capital Management arrange cross-border trade receivables facility for Ferroglobe PLCJones Day represented ING Bank N.V., Sucursal en España and Finacity Capital Management in connection with a cross-border trade receivables facility for Ferroglobe PLC, a leading materials innovation company.
  • The following represents recent experience acquired prior to joining Jones Day.

    Advised General Electric on employment matters related to its Spanish personnel.

    Advised various investment funds managed by Bridgepoint Capital on the investment, restructuring, and divestment in Spanish wind farm projects.

    Advised Crédit Agricole CIB on Spanish tax issues related to equity swap transactions.

    Advised BBVA (Banco Bilbao Vizcaya Argentaria) on updating various debt issuance programs.

    Advised various funds managed by Intermediate Capital Group (ICG) on tax structuring for (i) the financing and co-investment in Garnica Plywood with the founding partners and managers and (ii) the early maturity of the financing and enforcement of the relevant securities granted to the Vitaldent Group.

    Advised Standard & Poor's on tax matters regarding rated transactions.

    Advised SARIA Bio-Industries on the tax structuring for the acquisition of Bioibérica and related matters.

    Represented RBC, as original lender and arranger, on the acquisition financing to Blackstone for the purchase of a number of logistic centers in Spain.

    Advised OPTrust on the tax structuring for the acquisition of a significant stake in Globalvia Infraestructuras.

    Assisted Fortress Investment Group on the tax aspects of its Spanish investments and their restructuring.

    Advised Santander and Natixis, as joint lead managers, in the securitization of credit card receivables originated by a Spanish group.

    Represented El Corte Inglés on the financing and regularization of a Spanish shopping center.

    Advised Klépierre on the tax structuring for the acquisition of the Plenilunio shopping center (Madrid).

    Advised Goldman Sachs on the refinancing of Uro Property SOCIMI through a receivables securitization.

    Represented the lenders on the insolvency and restructuring of Marme Inversiones, the owner of Ciudad Financiera, the headquarters of Banco Santander.

    Advised Ferrovial, a global infrastructure operator, on issuance of stock bonds.

    Represented Trip Advisors Group on Spanish tax litigation cases.

    Advised Macquarie on the disposal of certain Spanish renewable energy projects in Spain.

    Advised the family office of Mr. Andrew Tan on the acquisition of the Torre Espacio building in Madrid.

    Assisted MoraBanc Group on their investment in Inmobiliaria Colonial.

    Speaking Engagements

    • 28 noviembre, 2017
      Desayuno Gestión de Crisis
    • July 4, 2017
      Breakfast Seminar on Labor and Tax Law Updates
    • 4 de julio, 2017
      Desayuno Actualidad Laboral
    • 16 de marzo, 2017
      The Global Impact of Tax Reforms Under the New Administration
    • March 16, 2017
      The Global Impact of Tax Reforms under the New Administration
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