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Alfonso de Marcos


Capital markets | Corporate advisory and governance | Mergers and acquisitions | Private capital |

Extremely knowledgeable, very experienced and hard-working.

Client testimony, Chambers Global 2015

Profile details

About Alfonso de Marcos

Alfonso specialises in domestic and cross-border transactions with public companies.

His practice ranges from advising in capital markets deals and M&A transactions, to the provision of general advice to Spanish public companies in corporate, regulatory and governance matters.  He also advises on the establishment of joint ventures and investment vehicles.

He regularly works for major investment banks and financial investors (including sovereign wealth funds) as well as for big Spanish corporates such as Amadeus, Naturgy (previously Gas Natural), Repsol, MERLIN Properties or the Azora group.

From September 2007 to April 2008, he was seconded to the legal department of Morgan Stanley’s international Investment Banking Division, where he was actively involved in a wide variety of global M&A and capital markets’ transactions.

Alfonso speaks Spanish, English and French.

Recent work

  • Advising on the IPOs of  Repsol Renovables (acting for the issuer – withdrawn), Naturgy (acting for the issuer – withdrawn), Windar (acting for the bookrunners – withdrawn), Azora Altus (acting for the issuer – €500m -  withdrawn), Metrovacesa (acting for the bookrunners - €2.5bn), Unicaja Banco (acting for the issuer – €1.4bn), Parques Reunidos (acting for the bookrunners – €726m), Euskaltel (acting for the issuer – €1.3bn), MERLIN Properties (acting for the issuer – €1.5bn) or Hispania Activos Inmobiliarios (acting for the issuer – €550m).
  • Advising Siemens Energy on its acquisition and subsequent delisting of Siemens Gamesa Renewable Energy.
  • Advising Repsol on the sale of 25% stake in its renewables arm, Repsol Renovables, to a consortium formed by Crédit Agricole Assurances and EIP.
  • Advising a consortium formed by Cinven, KKR and Providence on its acquisition and subsequent delisting of telecom operator Masmovil.
  • Advising Grupo Azora on the establishment and commercialization of Azora European Hotel & Lodging FCR, its flagship venture capital fund for the investment in the European hotel and lodging sector.
  • Advising Amadeus on the €1.5bn accelerated bookbuilding offering of new shares and convertible bonds.



  • Universidad Pontificia Comillas (ICADE), Madrid, Spain (degrees in law and business administration).
  • UNED, Madrid, Spain (degrees in sociology and politics).

Professional memberships

  • Madrid Bar Association.