Ana Calvo

Local Partner, Madrid

Biography

Overview

Ana Calvo is a partner leading the Public law and regulatory practice in Spain, as part of the Firm´s Global M&A / Corporate Group.

She has over 17 years of experience advising infrastructure funds, corporates, governmental entities and investment banks on a broad range of matters across a variety of industrial sectors ranging from infrastructure, energy, water, waste, life sciences or telecoms, among others.

Ana also advises on environmental laws, consumer protection rules, public procurement and automotive manufacturing.

She frequently advises on high-profile FDI matters.

Bars and Courts
Spain (Abogado)
Education
BA
Law

Universidad Pontificia Comillas, ICADE

Languages
Spanish
English
German

Experience

Representative infrastructure, energy, waste and water matters include advising:

  • General Mills on its acquisition of Edgard & Cooper, one of Europe's leading independent premium pet food brands.
  • SSE Renewables on Spanish Public Law and FDI aspects related to the purchase, to Siemens Gamesa Renewable Energy, of its existing European renewable energy onshore wind plataform for a consideration of EUR 580 million.
  • Repsol on the sale of a 25% stake, to Crédit Agricole Assurances and Switzerland-based investment manager Energy Infrastructure Partners (EIP), of its renewable energy business, consisting of windfarms, photovoltaic facilities and hydro projects, with a total installed capacity of approximately 2,280 MW.
  • APG Asset Management on regulatory aspects impacting toll road concessions related to its acquisition of an interest in Itinere Infraestructuras, together with Corsair Infrastructure Partners, for EUR 1.3bn.
  • CPP Investments, on regulatory and contentious aspects related to the purchase of a 24.99% stake in FCC Servicios Medio Ambiente, the environmental services division of Fomento de Construcciones y Contratas, S.A. (FCC), a diversified conglomerate listed in Spain, for EUR 965m.
  • HOCHTIEF on its EUR 18bn joint bid for Abertis, one of the leading international operators in toll road management, after agreement reached among ACS and Atlantia.
  • China Tianying on regulatory matters related to its acquisition the leading environmental solutions entity Urbaser from ACS as well as on its sale to Platinum for EUR 3.5 billion.
  • OTTP and PSP Investments on regulatory matters related to their EUR 1.6bn joint acquisition of a portfolio of renewable energy (wind, solar and water infrastructure assets), known as Cubico, from Banco Santander.
  • Eurus Energy Europe (owned by Toyota Corporation) in an international arbitration against Spain under the Energy Charter Treaty.
  • Ferroatlantica (Villar Mir Group) on several regulatory and environmental matters relating to: (i) its hydroelectric power plants in Spain; and (ii) on the development of a regasification terminal and two combined cycle power plants in Spain.
  • CRCC on the acquisition of a controlling stake in Aldesa.
  • Armonea on the sale of several nursing homes in the context of public concessions awarded by regional health authorities.
  • Metro de Madrid on several public tenders regarding the acquisition of railway rolling stock and on a number of rebalancing claims lodged by concessionaires of Metro de Madrid's subway stations.
  • EQT on the sale of a stake in SAUR, specialized in water management, to a consortium composed of global infrastructure fund manager DIF Capital Partners and the Dutch pension fund service provider PGGM.

Representative matters in the telecommunications sector include advising:

  • Ufinet (Cinven) on several regulatory issues related to its fiber optic network in the gas transmission network in Spain.
  • Cinven, KKR and Providence in their consortium investment relating to a EUR 3bn voluntary public bid for the entire share capital of MÁSMÓVIL IBERCOM, the fourth largest telecommunications operator in Spain.
  • Orient Hontai Capital on the acquisition of a majority stake in Imagina Media Audiovisual.

Selected matters in the life sciences, environmental and consumer protection sectors include:

  • KKR on regulatory aspects arising from: (i) its purchase of world leader fertility group IVI-RMA for a consideration of EUR 3 billion and the subsequent divestment of certain clinics; and (ii) its purchase of fertility group GeneraLife.
  • Novartis on the transfer to Siegfried of two sites located in Spain dedicated to the manufacturing of pharmaceutical products.
  • Bayer in the context of public liability claims from defective products.
  • Meta regarding the implementation in Spain of the EU Price Indication Directive and the relevant transposed/corresponding national laws, in connection with Instagram advertisements.
  • Kimberly Clark on environmental questions associated with packaging.
  • Primark on labelling matters applying to cosmetics and other consumer goods placed in the Spanish market.

Selected FDI matters include advising:

  • Cinven, KKR and Providence on the FDI process connected to their consortium investment relating to a EUR 3bn voluntary public bid for the entire share capital of MÁSMÓVIL IBERCOM, the fourth largest telecommunications operator in Spain.
  • APG Asset Management on the FDI analysis and process in its acquisition of an interest in Itinere Infraestructuras, a major Spanish infrastructure management company.
  • CPP Investments, on the FDI authorization process related to the purchase of a 24.99% stake in FCC Servicios Medio Ambiente Holding, SAU, the environmental services division of Fomento de Construcciones y Contratas, S.A. (FCC), a diversified conglomerate listed in Spain for EUR 965m.
  • Permira on its investment in Adevinta ASA and its Spanish subsidiaries.
  • London Stock Exchange Group on FDI aspects of its acquisition of Refinitiv.

*Experience prior to joining White & Case