BlancaPuyol Martínez-Ferrando


Madrid + 34.91.520.3939

Blanca Puyol has more than 20 years of experience advising domestic and multinational companies, investors and their portfolio companies, financial institutions, venture capital, and private equity funds on a range of domestic and cross-border transactions, buyouts, corporate restructurings, and joint ventures. She represents emerging companies and their managers and investors in various transactions, private and public M&A deals, shareholders' agreements, carve-outs, and other corporate matters, including directors and officers' duties and liabilities. She also acts as secretary to the board of directors for many Firm clients.

She advises on regulatory measures being taken by the Spanish government in relation to many M&A transactions including authorizations of foreign direct investments (FDIs).

Blanca has advised clients in numerous sectors such as technology, manufacturing, construction, energy, and retail. Her recent experience has focused on telecommunications including the €18.6 billion merger between Orange and Masmovil and Orange's $432 million acquisition of the internet service provider from Deutsche Telecom AG. Other recent representations include advising Deutsche Balaton and Bridgepoint on the sale of Web Financial Group, S.A. to Allfunds; advising Partners Group on its divestment in Softonic International, S.A.; advising Active Venture Partners and BDMI in the granting by Cipio Partners of a venture loan to their portfolio company Whisbi Technologies; and Entravision Communications Corporation in its acquisition of Headway, a leading provider of performance digital marketing solutions.

In addition, Blanca lectures on the responsibility of corporate directors as part of the law program at Instituto de Empresa.

Blanca was recognized by TTR (Transactional Track Record) as the best woman Legal Dealmaker for M&A in Spain in 2022.

She is also chair of diversity in the Madrid Office.


  • Entravision Communications sells digital advertising representation business to Aleph GroupJones Day advised Entravision Communications Corporation in the sale of its digital advertising representation business to Aleph Group.
  • Orange and Masmovil combine in €18.6 billion mergerJones Day advised 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).
  • OX2 sells photovoltaic project in SpainJones Day advised OX2 AB in the sale of Modus Solar Andalusia, S.L., a photovoltaic project in Spain, to Green Genius.
  • Vibrantz completes US$140 million new STS trade receivables securitisation and €10 million trade receivables factoring programmeJones Day assisted Vibrantz Corporation in relation to a new (i) US$140 million cross-border STS trade receivables securitization transaction with ING Belgium NV/SA and NORD/LB and (ii) €10 million bilateral factoring programme with ING Commercial Finance.
  • AURELIUS acquires The Body ShopJones Day advised private equity investor AURELIUS on its acquisition of The Body Shop from Natura & Co S.A.
  • Entravision acquires BCNMonetizeJones Day advised Entravision in the acquisition of BCNMonetize, a leading global mobile app marketing solutions company headquartered in Barcelona.
  • Aer Soléir partners with Tartessos Power Development for hybrid project of over 130 MW in Andalusia, SpainJones Day advised Dublin-based Aer Soléir on its partnership with Spain's renewables developer Tartessos Power Development for co-development of a hybrid project of over 130 MW in Andalusia, Spain.
  • Elaia Partners invests in Zymvol BiomodelingJones Day advised Elaia Partners in the €1.3 million financing of Zymvol Biomodeling, S.L., a company specialized in enzyme discovery and design services.
  • Tikehau Capital leads €13 million Series A funding of Build38 GmbHJones Day advised Tikehau Capital as lead investor in the €13 million Series A financing of Build38 GmbH, a leading provider of mobile application protection solutions that combine AI-powered threat intelligence and the strongest app shielding technology, with subsidiaries in Spain and Singapore.
  • OX2 Holdings acquires four photovoltaic projects in Andalucia, SpainJones Day advised OX2 Holding New Markets AB in the acquisition of four photovoltaic projects in Andalucia, Spain, for a total capacity of 151.54 MWp.
  • 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.
  • 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.
  • 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

    Additional Speaking Engagements

    • June 8, 2023
      The importance of ESG criteria and litigation risks. Compliance to build ESG culture.
    • May 10, 2023
      T500 Venture and Growth Conference - Lazard
    • March 15, 2023
      ESG Strategy: Corporate Governance and its impact on M&A transactions.
    • March 9, 2012
      From Law Firm to Classroom
    • 9 de marzo 2012
      Cuando el Bufete se Tansforma en Aula