Nuno Azevedo NevesPartner
Head of Corporate M&A, Portugal
Head of Finance and Projects, Portugal
Nuno Azevedo Neves has over 20 years’ experience of helping companies, private equity funds and investor groups with all matters relating to corporate law, particularly Portuguese mergers and acquisitions, financing and projects, financing regulation and restructuring, and distressed investments.
He is one of the most experienced lawyers in the financial sector and is recognised by his peers and the market for his work on numerous complex deals for domestic and foreign clients. He has a remarkable track record of acting as lead partner on many major, high-profile M&A transactions and cross-border deals and privatisations.
Nuno has represented clients in a broad range of industries, including financial services, real estate and, particularly, energy and natural resources.
He recently assisted EDP Renováveis with the sale of its full equity shareholding in a wind portfolio located in Portugal, for an enterprise value of EUR530 million (EUR2.4 million per MW). He also recently advised Greenvolt on the financing of the portfolio acquisition contributed in the company’s EUR150 million IPO.
Nuno is certified as a specialist in tax law by the Portuguese Bar Association and was previously Tax Arbitrator at the Center for Resolution of Tax Disputes (CAAD).
Nuno’s experience includes advising:
- A private equity firm on the acquisition of the second largest private owned Portuguese commercial bank, with a capitalisation of EUR4.9 billion, which was formed after a resolution measure applied by the Bank of Portugal to the former Banco Espírito Santo. The sale process was organized and coordinated by the Bank of Portugal and Portuguese Resolution Fund.
- A leading renewable energy company on the sale of its full equity shareholding in a wind portfolio located in Portugal for an enterprise value of EUR530 million (EUR2.4 million per MW). This deal was subject to customary closing adjustments.
- A Portugal-based company involved in the renewable energy sector on the financing of the portfolio acquisition contributed in the company’s EUR150 million IPO.
- On the capital increase of a leading renewable energy company by launching an offering of its shares via an accelerated bookbuild, targeting gross proceeds of c. EUR1.5 billion. This was a very innovative deal combining a share capital increase of the company amounting to EUR1.5 billion with a share loan from the energy company to a banking syndicate, as the transfer agent of the operation.
- The largest Chinese private conglomerate on the EUR1 billion acquisition through a privatization process of the largest insurance group in Portugal, representing 30% of the country’s insurance market.
- A leading European commercial bank on the acquisition of the assets and liabilities of a Portuguese commercial bank, following a resolution measure applied to the Bank by the Bank of Portugal.
- A Chinese private conglomerate on negotiating a bank insurance agreement between a Portuguese insurer and state-owned bank.
- A company in the energy sector focusing on renewable energies on the acquisition of 100% of the share capital of a company incorporated under Polish law, which operates in the field of wind and photovoltaic energy and has operations in Poland, Greece, Italy and France. As the transaction was executed in the context of the company’s IPO, this work included cooperation with the legal and financial teams involved in the IPO. The transaction also involved financing arrangements.
- A leading renewable energy company on the sale of two SPVs holding five wind farm projects (221 MW). We provided legal assistance with the M&A process, drafting and negotiation of NDAs, full legal vendor’s DD; drafting and negotiation of transaction documents, and project and regulatory matters. This transaction contributed EUR532 million of asset rotation proceeds and was within the context of the EUR8 billion asset rotation program for 2021-25.
- McGeorge School of Law, LL.M. in Transnational Business Practice, 1998
- Instituto Superior de Gestão, Degree in Tax Law
- Lisbon University School of Law, Law degree, 1994
Awards and recognition
- Ranked lawyer, Banking and Finance; Corporate/M&A, Portugal, Chambers Europe 2022
- Highly regarded, M&A, Project Finance, Energy and Natural Resources, Portugal, IFLR1000 2022
- Recommended lawyer, Banking and Finance; Commercial, Corporate and M&A; Projects and Project Finance; Energy and Natural Resources; Insolvency and Restructuring, Portugal, The Legal 500 EMEA 2022
- In the top 10 Portuguese legal advisors for M&A transactions advised upon in 2017, Transactional Track Record
Memberships And Affiliations
- Portuguese Tax Association
- Portuguese Association of Tax Consultants
- Lisbon Delegation of the Portuguese Bar Association, 2002-07
- Portuguese Bar Association