Schoenherr has advised real estate investment company Deka Immobilien on its acquisition of DC Tower 1 in Vienna, the tallest hotel and office building in Austria, from a UniCredit Bank Austria AG subsidiary. Sixty percent of the shares will be allocated to the Deka-ImmobilienGlobal portfolio and forty percent to the Deka-ImmobilienEuropa portfolio. Fellner Wratzfeld & Partner advised UniCredit on the deal. Closing took place on July 6, 2017 and the purchase price was not disclosed.
Fellner Wratzfeld & Partner has successfully represented OBB Infrastruktur in a dispute involving the Semmering tunnel -- one of the largest infrastructure projects in Austria -- as on June 21, 2017 the Austrian Supreme Administrative Court denied an appeal lodged by the environmental organization Allianz fur Natur and a citizens’ initiative in objection.
CMS — with ENSafrica assisting on all matters of South African law — has advised ALPLA, an Austria-based worldwide provider of plastic packaging, on its agreement to acquire Boxmore Packaging, headquartered in Johannesburg, South Africa. Signing of the transaction occurred on July 5, 2017, and closing is subject to applicable regulatory and competition approvals. Financial terms of the transaction were not disclosed.
Schoenherr has achieved an important victory on behalf of Vienna International Airport (VIE) and the province of Lower Austria in a case regarding the construction of a third runway at the airport.
Baker McKenzie has announced that Filip Boras has been appointed Partner in Vienna, with fellow arbitration specialist Stefan Riegler taking over the management of the Vienna office.
Brandl & Talos has advised Ring International Holding AG on the sale of its proOffice Group, to the Hamelin Group, a manufacturer of paper and office products based in Caen, France. Brandl & Talos was supported by Willkie Farr & Gallagher on questions of French and German law, while the Hamelin Group was represented by the Gordon S. Blair law firm.
In May 2018, the EU General Data Protection Regulation (GDPR) – which will be directly applicable in all member states – will come into force, harmonizing the data protection regime to a major extent. However, several of the GDPR’s opening clauses delegate responsibility for further regulation to national legislators. International companies will thus still have to consider local laws when preparing for GDRP-compliance.
When asked about the Buzz in Austria, Thomas Kulnigg, Partner at Schoenherr, says that M&A activity has significantly increased, with 2016 being one of the top 10 years in deal volume since 1988, and he says that 2017 is "well on its way." What Kulnigg is currently excited about, beside the typical Corporate/M&A work, is the start-up work his team is doing.
CMS teams in Austria and Croatia have advised Zagrebacka banka d.d, a member of UniCredit Group, on its sale of non-performing loan portfolios to a company controlled by APS Holding a.s. Ostermann & Partners advised APS Holding on the deal.
CHSH Cerha Hempel Spiegelfeld Hlawati has advised the shareholders of FirmenABC Entwicklung und Management GmbH in connection with the sale of 80% of its share capital to Eugen Marketing Beteiligungen GmbH, a company belonging to the Swiss Investnet group. The buyers were advised by Wiedenbauer Mutz Winkler & Partner Rechtsanwalte.
Brandl & Talos has advised Dr. Karl Petrikovics, former executive with Immofinanz AG, on a settlement he reached with the company following months of negotiations, which was approved at a June 1, 2017 Immofinanz General Meeting. The settlement brings an end to all disputes and procedures between the two parties.