Andorra Banc Agricol Reig (Andbanc), Andorra's third largest bank has acquired a 50% stake in Mexican wealth management firm Columbus de Mexico. The Mexican operation has €600m of assets under its control and works closely with the leading Mexican banks such as Banamex and BBVA Bancomer. Andbanc already has subsidiaries in The Bahamas and Switzerland and representative offices in Germany and Panama.

Following a two-year review process Portugal’s largest law firm PLMJ has finally agreed a new corporate and leadership structure that will see the creation of a new three-person Board of Directors, a streamlined practice structure, and an increased emphasis on institutional development.

A consortium led by Barcelona-based Abertis has paid $12.8bn (€8.2bn) for a 75-year concession to operate the Pennsylvania Turnpike in the US.

Antonio Garrigues last night called for increased attention from the legal profession to the issue of human rights, as a he received a Lifetime Achievement Award at the Chambers Europe Awards, held in Barcelona, for his “outstanding contribution” to the world of business law and the development of the European legal market.

James Levy QC, senior partner at Gibraltar´s Hassans, has been honoured with an Outstanding Contribution to the Legal Profession award at the Chambers Awards held last night in Barcelona, while his firm was also nominated as best Offshore Law Firm.

Spain´s second-largest energy company, Iberdrola, is reportedly considering a bid to acquire a 35% share in the UK nuclear power station operator British Energy.

One of Portugal's leading energy companies, EdP, has exercised its put option requiring Logica, the Anglo-Dutch IT services group, to acquire the remaining 40% share of Edinfor, the Portuguese IT company. Logica acquired 60% of Edinfor from EDP in 2005 for €81m and will now pay €55m for the rest.

Sacyr Vallehermoso has announced the cancellation of the proposed partial flotation of its infrastructure and concessions business Itínere, as a result of unfavourable market conditions.

First Reserve the US energy-focused private equity house has announced the creation of a dedicated renewable energy group that will invest €600m ($940m) into developing renewable energy assets over the next four years.

Spanish construction and services company Sacyr Vallehermoso (SyV) has announced the €632m sale of its final 10.95% holding in French rival Eiffage to French-government controlled finance institution Caisse des Depots et Consignations (CDC), in a deal that comes ahead of the proposed €3.5bn partial IPO of SyV´s toll roads business Itínere – the first Spanish IPO of the year.

Spain´s leading media and publishing group Planeta has announced that it has entered into exclusive negotiations to acquire France´s second largest publisher Editis from Paris-based private equity house Wendel. The proposed deal will see Planeta acquire Editis for €1.026bn.

The announcement by Brazil’s Energy Regulator, Haroldo Lima, earlier this month of potentially the largest oil discovery of the past 30 years, in the Carioca-Sugar Loaf oil fields 400km off the coast of Rio de Janeiro, may have a dramatic impact not only on the country’s economy but also on the fortunes of a number of Iberian companies active in oil exploration in the country – and their legal advisers.