Of Counsel

Madrid + 34.91.520.3956

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.


  • Grupo Paraguas acquires stake in international restaurant entityJones Day has advised Grupo Paraguas, a well-known group of food and beverage company in the investment of an equity stake in an international entity which develops and operates relevant and trending restaurants around the world in its launching in Madrid (Spain).
  • Macquarie acquires Euston Solar FarmJones Day advised Macquarie in the acquisition of 100% of the shares in Euston Solar Farm Limited, a UK-based renewable energy developer focused primarily on the development of utility-scale solar plants.
  • Orange and Masmovil to combine in €18.6 billion mergerJones Day is advising Orange, S.A. ("Orange"), one of the world's leading telecommunications operators, on the combination of their telecom business in Spain with Masmovil, one of the leading telecommunications operators in Spain, for an enterprise value of €18.6 billion (€7.8 billion for Orange Spain and €10.9 billion for Masmovil).
  • EagleTree Capital portfolio company acquires El RanchitoJones Day advised EagleTree Capital and its portfolio company, The Fuse Group, in the acquisition of El Ranchito, a world-renowned, high-end independent visual effects studio headquartered in Madrid, Spain, and a studio location in Barcelona.
  • Web Financial Group sells all its technology business to AllfundsJones Day represented Web Financial Group, S.A. in the sale of all its technology business to Allfunds, one of the world’s leading B2B WealthTech platforms for the fund industry.
  • Macquarie Asset Management acquires 50% shareholding in Island Green PowerJones Day advised Macquarie Asset Management ("MAM"), via Macquarie Green Investment Group Renewable Energy Fund 2 ("MGREF2"), in its acquisition of 50% of the shares in Island Green Power Limited, a UK-based renewable energy developer focused primarily on the development of utility-scale solar plants.
  • Iridium Concesiones de Infraestructuras, S.A. (ACS group) sells 80% stake in Nuevo Hospital de ToledoJones Day advised Iridium Concesiones de Infraestructuras, S.A. (ACS group) in the €58 million sale of its 80% interest in Nuevo Hospital de Toledo, S.A. to BSIP Spain HoldCo, S.L., a company managed by Brookfield.
  • BBVA provides €54 million acquisition financing to group specialized in sector of connection and control of fluids and kitchen and bathroom taps in both residential and non-residential areas and civil worksJones Day provided legal advice to Banco Bilbao Vizcaya Argentaria, S.A. in the €54 million acquisition financing of 100% of the share capital of Standard Hidráulica, S.A.U.; Hidrogas Canalizaciones, S.A.U.; Hidrostandard del Mediterráneo, S.L.U.; STH Westco Holdings Ltd.; STH Westco Limited; STH Hidraulica Ellas Single Member, S.A.; and Standard Hidraulica Southern Africa Plumbing and Heating Equipment (Pty) Ltd., a group specialized in the sector of the connection and control of fluids and kitchen and bathroom taps in both residential and non-residential areas and civil works, by IEE21 Europe, S.L.U.,a newly created Spanish company sponsored by H.I.G. European Capital Partners 3 Fund, LLC.
  • STERIS acquires Cantel Medical for $3.6 billionJones Day advised STERIS plc in its acquisition of Cantel Medical Corp, a global provider of infection prevention products and services primarily to endoscopy and dental customers, for $3.6 billion.
  • CBRE Global Investors disposes of Spanish logistics portfolio to BankinterJones Day advised CBRE Global Investors, on behalf of its value-add fund European Value Partners (EVP 2), and its joint venture partner Valfondo (a developer and manager of Montepino logistics assets in Spain) on the sale to Bankinter of a portfolio of 22 Spanish logistics assets, totaling 865,000 sqm, together with a development pipeline of a further 13 logistics assets.
  • Ferro Corporation sells its global Tile Coatings Business to Lone Star Funds for $460 millionJones Day advised Ferro Corporation, a leading global supplier of technology-based performance materials, 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.
  • Uniphore acquires Emotion Research Labs, S.L.Jones Day represented Uniphore Technologies Inc., an early leader in Conversational Service Automation (CSA), in its acquisition of Emotion Research Labs, S.L., a leading software developer that uses AI and machine learning, to identify emotion and engagement levels in real-time over video-based interactions.
  • Laureate Education to sell Brazilian operations to Ânima Holding S.A. for R$4.6 billionJones Day acted as special tax counsel to Laureate International, Inc. in the sale of its Brazilian operations to Ânima Holding S.A. for R$4.6 billion.
  • 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.
  • 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.
  • 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