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Marta Esteban

Of Counsel

Marta is an of counsel, specialising in tax and based in Madrid.



Marta has extensive experience providing tax advice to large corporates, financial institutions and investment banks, as well as Spanish private equity and international funds.

She works with clients on a broad range of national and international tax issues, although her practice focuses primarily on acquisitions, investments, reorganisations and transactions, as well as the tax aspects of financing and financial transactions.

Marta’s experience includes advising:

  • Oaktree Capital Group on the acquisition of a € 740 million mortgage loan portfolio comprising Spanish and Portuguese commercial real estate properties held by FMS Wertmanagement
  • Magnum Capital Industrial Partners on the €200 million disposal of 100% of Geriatros Group to PAI Partners
  • a leading international leisure travel group on criminal proceedings initiated in relation to the alleged commission of a tax offence
  • a confidential client
    • on several competitive bidding process for the acquisition of a €410 million loan portfolio from SAREB
    • on the acquisition of a €196 million loan portfolio from SAREB formed by non-performing loans
  • a confidential client on the disposal of stakes in 11 funds


Her expertise in tax is highlighted by listings in Chambers Europe and Legal 500, and she has also been ranked in Best Lawyers. Her clients praise her expertise and client focus: “She has great market knowledge and I've had a really great experience with her as a lawyer.


Marta joined Herbert Smith Freehills from the Madrid office of another international law firm, where she was a senior associate in its Tax department. Prior to this, she worked in one of Spain’s leading law firms.

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