In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

I have now spent more than 25 years in the legal advisory business world. With my core focus on cross-border M&A transactions for Austrian and international clients and having worked on many deals that also covered the Central and Eastern Europe (CEE) region, I have witnessed lawyering in CEE register remarkable growth and sophistication over the past years.

In recent years, accelerated by the COVID-19 crisis, the Austrian landscape of work has shifted, with remote working becoming a staple in the modern employment environment. In Austria, this development is reflected in the so-called 2021 “Home Office Act” which formalizes fundamental aspects of labor, tax, and social security law. However, the Home Office Act applies only to work performed from home.

E+H has advised ECOwind on its sale of the Baerofen wind park to Puespoek following an auction process. CMS advised the buyer.

TGS Baltic, working with Vinge, has advised Bergs Timber on the sale of its Latvian sawmill business Vika Wood to Nextwood One, part of the Austrian HS Timber group. Schoenherr advised HS Timber on the deal. Cobalt reportedly advised HS Timber as well.

E+H, working with Clifford Chance, has advised Interpath Holding on the acquisition of the Kerkhoff Group including its Austrian subsidiary Kerkhoff Consulting. Poellath advised the shareholders of the Kerkhoff Group on the sale.

Schoenherr has advised the managers involved on the Erste Group Bank’s issuance of EUR 1 billion 3% mortgage Pfandbriefe due 2032. Wolf Theiss advised the Erste Group Bank.

PHH has advised ATG Entertainment on establishing a new musical theater in Vienna together with the City of Vienna.

The Austrian Supreme Court (6 Ob 224/23v) recently determined the requirements for a partial transfer of a share if the articles of association expressly stipulate that shares cannot be divided.

Vinzenz Waldhof has been appointed Partner in the Construction & Real Estate team at KWR Karasek Wietrzyk Rechtsanwaelte.

Schoenherr has advised Headwall Photonics on the acquisition of Austria-headquartered EVK DI Kerschhaggl. BPV Huegel advised the sellers.

Brandl Talos has advised Graph Therapeutics on a USD 3.1 million pre-seed financing round led by Squareone and Merantix Capital, with participation from NAVEC Investment Management and angel investors, including the Atomico Angel Program. Herbst Kinsky advised NAVEC. Schoenherr advised Squareone. Fladgate reportedly advised the Atomico Angel Program.

Wolf Theiss has advised Erste Group Bank on the successful issuance of EUR 750 million fixed to floating rate green preferred senior notes due 2033. CMS, working with Linklaters, advised the international banking syndicate working on the issuance including Danske Bank, Erste Group, Landesbank Baden-Wuerttemberg, Landesbank Hessen-Thueringen, Societe Generale, and TD Global Finance.

Freshfields has advised RELX Group on its exit from Austria’s exhibition market to Messezentrum Salzburg, WSE Wiener Standortentwicklung, and Mac. Brand Spaces.

Former SHMP Schwartz Huber-Medek Pallitsch Partner Philipp Pallitsch has joined Dorda as Partner alongside his team.

Schoenherr, working alongside Skadden, has advised NXP on its acquisition of TTTech Auto. Freshfields Bruckhaus Derringer advised TTTech majority owners Audi, Aptiv, and Infineon on the sale. Binder Groesswang, working with Clifford Chance's Munich office, advised Aptiv as well.

Dorda, working alongside Norton Rose Fulbright, has advised Evergreen Hill Enterprise on its acquisition of the TANN Group from Mayr-Melnhof Karton with an agreed enterprise value of EUR 360 million. Binder Groesswang reportedly advised Mayr-Melnhof Karton.

Hule Bachmayr-Heyda Nordberg has advised Seipt & Partner Versicherungsmakler owner Benedikt Seipt on the sale of the company to Assepro Austria. Binder Groesswang advised Assepro Austria.