Ignacio Hornedo


Ignacio combines particular expertise on private equity transactions as well as in the energy and infrastructure sectors.

His practice encompasses all aspects of corporate transactions including M&A, disposals, private equity, joint ventures, corporate reorganizations and commercial contracts. He has acted on both domestic and cross-border deals for investment funds, development platforms and large corporates.


Representative matters

Intermediate Capital Group on the investment of a 30% stake in Grupo J. Uriach, S.L. carried out through: (i) an acquisition of shares; and (ii) a share capital increase to partially finance the acquisition of the French company PAM Invest- Ineldea Santé SAS. 

Bruc on the purchase of 8 companies that own photovoltaic projects for a total of 400MWs in Andalusia, promoted by Magtel. With this deal, we have supported Bruc in purchasing more than 20 photovoltaic projects with a total capacity of 1,150MW in the past three years. This transaction marks another milestone in their ambitious growth strategy in the renewable energy sector. 

Intermediate Capital Group on the sale of Garnica to The Carlyle Group. 

A public petroleum and natural gas company on a joint venture with Petronor in relation to the construction and operation of a demonstration plant for the synthesis of renewable products from green hydrogen and captured CO2, at the Muskiz location (Bizkaia). 

A leading shipping company on Green Marine Fuel Corridors including green hydrogen to ammonia and methanol plants. This includes all regulatory aspects (RED II and RFNBO) and the development, construction and financing of a series of giga-projects in numerous jurisdictions, including Spain. 

Cegid on the acquisition of Grupo Primavera, a transaction which strengthens its position as a leading provider of business management solutions in the cloud and creates a combined company valued at approximately EUR 6,8 billion. 

Intermediate Capital Group on the 2000 million Euros project to create a global gigant CX and BPO, through the acquisition of Comdata by Konecta. 

British Telecommunications on the sale of its Spanish managed ICT services business to Portobello Capital. 

Amixa and Aurica Capital on the sale of STI Norland, one of the world's leading manufacturers and installers of trackers for solar power plants, to Array Technologies Inc. 

Sandfire on the 1.6 billion project to acquire Matsa, Spain's largest mine. 

Globalvia on the sale of Globalvía Inversiones interests in the Irish concession of N6 to Bestinver and a potential co-investor. 

Intermediate Capital Group on the 320 million Euros acquisition of Alvinesa from Grupo March. 

A gas and oil company in its entry into the photovoltaic renewable energy market in Spain through the agreements reached with Powertis for the development of 800MW through the incorporation of a joint venture 65/35 and with Solarbay for the acquisition of a portfolio of projects under development for 1.2GW. 

VASS Consultoria de Sistemas S.L., a technology consultancy owned by One Equity Partners, on the acquisition of the digital services company Movetia. 

Grupo Larrumba Holding on a shareholders’ funding. 

Ib vogt GmbH on the sale of 100% shares of Iberia Termosolar 1 to Talanx and KZVK.

Pro bono

Working with Fundación Pro Bono España by advising different associations/foundations such as Down Catalunya, Acción Enfermera, ADELA, Cepaim, etc. on several matters. In addition, Ignacio is a board member of Fundación Pro Bono España. 
Advising Fundación Entreculturas Fe y Alegría in relation to a Next Generation grant application process.
Advising Asociación Cultural Norte Joven on tax and corporate matters for the sale of pastry products made by young people in situations of social exclusion.

Published Work

  • Ignacio Hornedo, 2016 "Disolución por pérdidas y reactivación: los préstamos participativos como instrumento (híbrido) del patrimonio contable" in "Práctica mercantil para abogados: los casos más relevantes en 2015 de los grandes despachos", Madrid: Wolters Kluwer.
  • Ignacio Hornedo, 2013 "Limits to treasury shares for Spanish limited liability companies". ("Límites a la autocartera en la Ley de Sociedades de Capital"), Economist & Jurist Magazine.

Speaking Engagements

  • Lecturer, Civil and Corporate Law, Universidad Pontificia de Comillas (ICADE), since 2015.
  • Member, Máster de Acceso examination board, Universidad Pontificia de Comillas (ICADE), since 2015.

Leadership Positions And Professional Affiliations

  • Lawyer, Madrid Bar Association (Ilustre Colegio de la Abogacía de Madrid)
Creativity in the solutions he offers to complex situations
Chambers & Partners, 2023
He stands out for his commercial vision
Chambers & Partners, 2023


  • ‘Star M&A Lawyers of the Spanish market’ and ‘Lawyers that have advised on the biggest transactions in Spain’, El Confidencial and Expansión, 2023
  • Leading Individual in Commercial, corporate and M&A, Legal500, 2023
  • Highly Regarded in M&A, IFLR1000, 2023
  • Rising Star in the field of Private Equity in Europe, Week's selection of under 40 lawyers
  • ‘Forty under 40’, Iberian Lawyer, 2017



Spain, 2005


Degree, Law, ICADE, 2005


English, Spanish
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.