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Lawyers

Michael J. Willisch

Lawyers

Head of Madrid office. Advises U.S. and non-U.S. companies on capital markets transactions, M&A, private equity investments and finance transactions.

Michael advises U.S. and non-U.S. companies on capital markets transactions, mergers and acquisitions, private equity investments and finance transactions. He is the head of our Madrid office and a member of both our Europe and Latin America practices.

Chambers Europe and Chambers Global rank Michael in Band 1 for his capital markets work in Spain, noting in particular that clients value “the knowledge that he can bring from an international point of view.”

Michael has advised on some of the largest M&A transactions involving Spanish companies, the majority of IPOs completed in Spain over the past two decades, and some of the largest-ever capital markets transactions by Spanish issuers, including rights offerings by Cellnex (€7 billion in aggregate), BBVA (€5.1 billion) and Telefónica €3 billion), Telefónica Móviles’ €3 billion IPO, Aena’s €3 billion IPO, Inditex's (the owner of Zara) €2.4 billion IPO and Acciona Energía's €1.3 billion IPO.

Experience highlights

Capital Markets
  • Advised on most IPOs completed in Spain in the past two decades, including those of Acciona Energía, Soltec Power Holdings, Árima Real Estate, Aedas, Unicaja, Prosegur Cash, Telepizza, Cellnex Telecom, Aena, Logista, Lar, Hispania, Bankia, Banca Cívica, Amadeus, Rovi, Fluidra, Criteria Caixa Corp., Codere, Almirall, Realia, Clínica Baviera, Vueling, Vocento, Bolsas y Mercados Españoles (the owner of the Spanish stock exchanges), Parquesol, Renta Corporación, Grifols, Corporación Dermoestética, Fadesa, Telecinco, Cintra, Telefónica Móviles and Inditex
  • Rights offerings by Cellnex Telecom, Colonial, Banco Sabadell, Banco Popular, Banco Espírito Santo, Merlin Properties, OHL and Telefónica
  • Enel on its entry into share swap transactions in respect of Enel Americas and Enel Chile
  • "Re-IPOs" of Rovi and BBVA Banco Francés
  • Private placings by Oryzon
  • High-yield debt and SEC-registered equity offerings by Abengoa and Atlantica Yield
  • Banco Bilbao Vizcaya Argentaria on equity, debt and hybrid SEC-registered offerings
  • Telefónica on over $20 billion in SEC-registered notes offerings
Mergers & Acquisitions
  • Codere Online on its business combination with DD3 Acquisition Corp. II (pending)
  • CaixaBank on its $17 billion merger with Bankia
  • TiGenix on its $624 million acquisition by Takeda
  • Financial advisors on respective acquisitions of Abertis, Axiare, Europac, Hispania, Iberdrola Renovables, MasMovil, Naturgy, Parques Reunidos and Saeta Yield
  • Ferrovial on its merger with Cintra
  • Banco Bilbao Vizcaya Argentaria on its $10 billion acquisition of Compass Bancshares
  • Telefónica on its respective mergers with Telefónica Móviles and Terra Networks
  • Banco Bilbao Vizcaya Argentaria on its €4.1 billion cash tender offer for the remaining stake in BBVA Bancomer, Mexico’s largest bank
  • Telefónica on its £31.4 billion 50:50 joint venture with Liberty Global

He has also advised on a number of in-bound or private equity investments in Spain, including:

  • Hamilton Lane on its investment in Grupo Multiasistencia
  • Royal Caribbean Cruise Lines on its acquisition of Pullmantur
  • Quadrangle Capital Partners on its investment in Group Ono
Finance
  • Westbourne Capital on its notes facility with Atlantica Yield
  • An Oaktree-sponsored vehicle on a leveraged loan secured by its interest in Eolia
View all experience

Insights

Preparing your 2021 Form 20-F
Preparing Your 2020 Form 20-F

Credentials

Recognition

Chambers Global and Europe – Capital Markets: UK/US-Qualified Experts, Spain, Band 1

Chambers Global – Capital Markets: Debt & Equity, USA, Expertise Based Abroad in USA

IFLR1000 – Capital Markets (Debt and Equity), Spain, Highly Regarded

Expert Guide – Capital Markets and Banking, Finance and Transactional, Spain

Education
J.D., Northwestern University Pritzker School of Law
  • cum laude
  • Note and Comment Editor, Northwestern University Law Review
B.A., Spanish, University of Utah
  • magna cum laude
B.S., Finance, University of Utah
  • cum laude
Professional history
  • Partner, 2002-present
  • Associate, 1995-2002
  • Madrid office, 2002-present
  • London office, 1997-2001
Qualifications and admissions
  • State of New York
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