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Silvia Paternain


Derivatives and structured finance | Infrastructure | Investigations | Restructuring and capital solutions | Tax |

Very brilliant, very prepared, habitually thinks outside the box and is very committed.

Client quotation, Chambers Europe 2016, tax

Profile details

About Silvia Paternain

Silvia leads our tax practice in Spain.

She specialises in corporate cross-border transactions and structured finance, including stock lending and derivatives. Her background in corporate, finance and her commercial approach to deals enables her to advise on the most sophisticated finance and corporate deals.

Her client base includes all the major investment banks and financial institutions, as well as corporates and real estate funds.

She led Freshfields global tax practice between 2012 and 2016.

Silvia speaks Spanish, French and English.

Recent work

  • Advising HOCHTIEF on its acquisition (alongside ACS and Atlantia) of toll-road operator Abertis. Read more about the deal in our case study.
  • Advising Fresenius and its subsidiary Helios Kliniken on the €5.7bn acquisition of Quirónsalud from CVC.
  • Advising Hispania Activos Inmobiliarios on its €550m IPO on the Spanish stock exchange and on its capital increases for €230m and €337m; and on the creation of a joint venture with Barceló, BAY Hotels & Leisure (BAY).
  • Advising Cepsa on: the €1.5bn acquisition of Coastal Energy Company; and the entry into a €174m joint venture to operate in the United Arab Emirates with Cosmo Oil.
  • Advising JP Morgan Securities (and affiliates) in relation to the acquisition of the portfolio of Spanish and Portuguese loan receivables from the Madrid branch of Hypothekenbank Frankfurt, an affiliate of Commerzbank, with an outstanding balance of €4.5bn.
  • Providing tax advice in the context of the debt restructurings of Pescanova, Metrovacesa, Reyal Urbis, Inmobiliaria Colonial, among others.



  • Law and business graduate from the Universidad Pontifica Comillas (ICADE, E-3), Madrid