Quoted, Spain's Expansion Internationally, Acquisitions Monthly

"Spanish Slowdown Overstated," Acquisitions Monthly, June, 2008.

Taking advantage of the weak dollar, banks and major infrastructure companies in Spain remain well capitalized and are expanding internationally.

Talking about Spain's banks acquiring in the US to Acquisitions Monthly, Fernando Alonso was quoted saying: "South Florida is for many Spanish banks an entry point into the US. Many have representative branches here and Caja Madrid bought City National Bank for US$1.12bn in April.”

Commenting on the news that Sabadell bought BBVA’s private banking business in the US, Alonso said:"BBVA is approaching the market differently from others.”

In addition, Alonso discussed the increase of Spanish companies doing infrastructure work in the U.S.: "I expect more Spanish construction companies to acquire the management contracts for toll roads and other infrastructure projects in the US. This will definitely happen. A number of states are already well advanced in their plans. For example, Florida has two different projects it is working on,” he said. “Infrastructure investment is an unstoppable trend: there are financing needs that can’t be met by the state alone. In the past, the state itself has paid for the upkeep of toll roads, funded principally by gasoline taxes,” Alonso added.

Speaking about client Fomento de Construcciones y Contratas (FCC ), Alonso, who advised FCC in an acquisition of two Siemens companies in the U.S., was quoted as saying: "The acquisition showed a substantial commitment by FCC to its international expansion. The businesses provide a great platform as FCC intends to increase its presence in the US.”

Alonso is a partner in the Miami office of Hunton & Williams LLP and chair of the Latin America practice group. He has practiced in the corporate and securities, banking and international fields for more than 20 years.