Since first joining holding company Gestmin, which operates in 27 different companies in the energy, industry, cereal logistics and real estate sectors, legal director Ana Maria Ramos’ support has been required to be of a flexible nature. Upon her arrival, the company had recently completed the sale of telecoms operation Winreason, after which she states there were ‘several post-closing issues, related with the reps and warranties and other obligations of the seller’, including an arbitration which ended with a settlement agreement, considerably reducing Gestmin’s liability. Describing the transformation in the legal approach she oversaw, Gestmin was ‘advised in the arbitration by external lawyers but I coordinated all post-closing matters, which proved to be a very interesting experience, helping me in the anticipation of some issues when drafting SPAs and also improving my know how in accounting and finance’.

In addition to this sale, Ramos has shown her adeptness at dealing with M&A processes, of which Gestmin has been involved in ‘several’ acquisitions – namely in the industrials and energy sectors. Ramos calls working on these ‘very interesting’ but highlights the acquisition of the LN Group, a company operating in the moulds and plastics space, which was Gestmin’s first investment of its kind. She states: ‘It was not a complex transaction but it required a careful and long negotiation with the sellers, where the existence of more than one legal interlocutor (i.e. external lawyers and in-house legal team) turned out to be a key factor for success. This particular transaction helped not only myself but the organisation to develop long negotiation skills’. Other notable deals she was crucial to the acquisition of include: a 50% share in OZDigal, a LPG distribution company in April 2017, as well as the acquisition of postal service operator CTT, which was ‘subject to a prior approval by the ECB and the Bank of Portugal’ and helped Ramos ‘strengthen [her] know-how in financial and securities market laws, regulations and procedures’. In addition to these experiences deepening her capabilities as a lawyer, Ramos has nurtured her managerial skills by changing the way legal support within Gestmin is offered. Upon joining, the company relied on the in-house lawyer ‘mainly coordinated the work of outside counsels’, however since Ramos took over, she hired another lawyer for the team, which ‘allowed us to develop our own in-house skills, keeping resource to external counsel to litigation, M&A transactions and other specific matters.

This change, and also the fact of being appointed company secretary, enabled the legal department to be consulted on a regular basis (rather than exceptionally) and gain influence in the company. The legal team has in the meantime grown with a third lawyer’. Before starting at Gestmin in September 2013, Ramos worked for a near 15 year period in Portuguese law firm VdA, in several practice areas including projects, TMT and real estate. She then joined the Cabinet of the Secretary of State for Energy, as a legal adviser in 2012. Her work there consisted in the drafting of legislation of the energy sector and following up the measures agreed for the energy sector with the European Commission, the European Central Bank and the IMF during the Financial Assistance Program (in the wake of the global financial crisis).