BlancaPuyol Martínez-Ferrando

Of Counsel

Madrid + 34.91.520.3939

Blanca Puyol's practice encompasses a deep academic knowledge of corporate law with broad experience in cross-border transactions, corporate restructurings, and joint ventures (JVs). For more than 20 years she has advised domestic and multinational companies on a range of corporate matters, including directors and officers (D&O) duties and liabilities. She also acts as secretary to the board of directors for many Firm clients.

Blanca advises on regulatory measures being taken by the Spanish government in relation to corporate decisions (terms to approve corporate decisions or decisions to distribute dividends), distressed M&A, agreements with business closing conditions and force majeure clauses, and authorizations of foreign direct investment (FDI) in Spain.

Blanca has advised clients in numerous sectors such as manufacturing, construction, energy, and retail. Her recent experience has focused on telecommunications and the internet, including Orange's $432 million acquisition of the internet service provider from Deutsche Telecom AG, Trader Classified Media's $742 million sale to Schibsted of its European and Latin American assets, and Entravision Communications Corporation in its acquisition of Headway, leading provider of performance digital marketing solutions in Latin America, the United States, and Spain.

Blanca lectures on the responsibility of corporate administrators as part of the law program at the Instituto de la Empresa. She has been a professor of corporate law at the Complutense University (Madrid). She is a frequent contributor to journals such as Revista de Derecho de Sociedades (Aranzadi) and Revista de Derecho Bancario y Bursátil (Lex-Nova) and often speaks at conferences and seminars.


  • 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.
  • 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.
  • Entravision Communications acquires majority stake in RedmasJones Day represented Entravision Communications Corporation (NYSE: EVC) in the acquisition of a 51% interest in Redmas owned by the Cisneros Interactive Group.
  • Lincoln Electric responds to COVID-19Jones Day advised Lincoln Electric regarding compliance with government orders around the world regulating essential businesses and business activities during the COVID-19 pandemic.
  • 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.
  • 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.
  • 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.
  • Whisbi Technologies obtains term loan facility and negotiates Share Option AgreementJones Day represented Whisbi Technologies, S.L. in connection with a term loan facility agreement provided by Columbia Lake Partners Growth Lending I (Luxco), S.à.r.l. and negotiation of a Share Option Agreement by virtue of which the shareholders of Whisbi granted a share option right and an equity investment right to Columbia Lake Partners, in connection with the financing granted by them to Whisbi.
  • Ferro acquires Quimicer SAJones Day advised Ferro Corporation in its acquisition of Quimicer S.A.
  • 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.
  • Ferro acquires Endeka CeramicsJones Day represented Ferro Corporation, a leading global supplier of technology-based performance materials, in connection with its acquisition of Endeka Group, a global producer of high-value coatings and key raw materials for the ceramic tile market.
  • Entravision Communications acquires HeadwayJones Day advised Entravision Communications Corporation in its acquisition of Headway, a leading provider of mobile, programmatic, data, and performance digital marketing solutions primarily in Argentina, Mexico, and the rest of Latin America, the United States, Spain, and Israel.
  • Comienzos Siglo XXI sells minority investment in Grupo Paraguas to Dream International B.VJones Day advised Comienzos Siglo XXI, S.L. in connection with the sale of a minority investment in Grupo Paraguas, a well-known group of restaurants in Madrid, as well as the project to expand their business in Spain and in different countries and cities, to Dream International B.V (Dogus Group).
  • Edmmond & Co Shop sells minority interest to registered investment advisory firmJones Day advised Edmmond & Co Shop, S.L. in connection with its sale of a minority interest to a registered investment advisory firm.
  • Ferro acquires Pinturas BenicarlóJones Day advised Ferro Corporation in its acquisition of Pinturas Benicarló, S.L., a manufacturer of organic paints for container glass.
  • Aberdeen Infrastructure seeks counsel involving acquisition of certain stakes in share capital of three concessionaire companiesJones Day advised Aberdeen Infrastructure (HoldCo) B.V. in connection with the acquisition of a certain stake in the share capital of three concessionaire companies through a joint venture incorporated by client with Somague Concessôes.
  • Ferro acquires Nubiola for €149 million (US$165 million)Jones Day advised Ferro Corporation in its €149 million (US$165 million) acquisition of Barcelona-based Nubiola Pigmentos, a worldwide producer of specialty inorganic pigments and the world’s largest producer of Ultramarine Blue, a high-value pigment for plastics and construction industries due to its durability, unique color attributes, and its whitening capability.
  • Orange successfully completes $4.4 billion tender offer for JazztelJones Day advised Orange SA, a leading global telecommunications company, in connection with the €3.4 billion (US$4.4 billion) friendly tender cash offer at €13 ($16) a share for the acquisition of Jazztel, a listed Spanish company and fourth operator in the telecoms market in Spain.
  • Power producer reviews director liability agreementJones Day advised an independent power producer in connection with the potential liability of directors of a Spanish company in relation to the enforcement of an agreement to maintain solvency and financial backing that is subject to New York law.
  • Leading international construction company advised on MBO in SpainJones Day advised a leading international construction company on a management buyout in Spain.
  • Additional Publications

    • Marzo 2018
      Consecuencias prácticas del giro jurisprudencial en materia de retribución de consejeros, Expansión Jurídico
    • Abril 2017
      El deber de lealtad y el conflicto de interés del administrador. Actualidad Jurídica Aranzadi.
    • Mayo 2012
      Análisis de la Sentencia del Tribunal Supremo de 28 de febrero de 2011 (La Ley 4429/2011): valoración de la participación del socio que ejercita el derecho de separación, 2012 Práctica Mercantil para Abogados. Los casos más relevantes en 2011 de los grandes despachos
    • Marzo 2011
      De nuevo sobre la responsabilidad concursal de los administradores de sociedades, Cátedra José María Cervelló IE Law School
    • Marzo 2011
      El famoso artículo 5.3 de la vigente Ley Concursal, Cátedra José María Cervelló IE Law School
    • Febrero 2011
      V Premio José María Cervelló, Cátedra José María Cervelló IE Law School
    • Enero 2011
      El concurso de Musgo, Cátedra José María Cervelló IE Law School
    • January 2008
      El Proyecto de Ley de modificaciones estructurales, Expansión
    • June 2007
      Nueva regulación sobre las OPAS en España, Expansión
    • 2007
      Transposición de la Directiva sobre OPAS en Gran Bretaña, en RDBB, núm. 106, pgs. 214 y ss.
    • 2007
      El nuevo régimen español sobre las OPAS, Revista IURIS, pgs. 28 y ss.
    • 2007
      Régimen exoneración responsabilidad administradores”, Estudios de Derecho de Sociedades y Derecho concursal, Libro Homenaje Rafael García Villaverde, pgs. 582 y ss.
    • June 2006
      Nueva regulación sobre las OPAS en España, Cinco Días

    Speaking Engagements

    • March 9, 2012
      From Law Firm to Classroom
    • 9 de marzo 2012
      Cuando el Bufete se Tansforma en Aula