Weber & Co. has advised Central European University on its July 27, 2020 agreement with the Vienna Business Agency to use the Otto Wagner site in Vienna as the university's new site. Themmer, Toth & Partner advised the Vienna Business Agency.
CEU is a private university accredited in the United States of America and Austria, with bachelor, master, and doctoral students coming from over 120 nations. The principle of the university is to convey the values of an open society according to the principles of free inquiry, free politics and free institutions. Pursuant to the Building Right Contract entered into by CEU and the VBA, CEU will take over the historic Otto Wagner site from the City of Vienna for 100 years.
Under the Building Right Contract, the historical area will be open to the public and all Viennese will have free access to the university site. In the next five years, CEU will renovate the buildings and revitalize them for modern international university operations. All planning will be carried out in close coordination with Austria's Federal Monuments Office.
Weber & Partners' Partner Daniela Witt-Dorring, who led the firm's team on the deal, described the agreement as an "exciting, future-orientated transaction, which is momentous for both CEU and the City of Vienna." Also working on the deal were Weber & Co. Partner Klaus Pfeiffer and Associates Sonja Karpf and Philipp Prokopp.
The Themmer, Toth & Partner team consisted of Senior Partner Wolfram Themmer and Trainee Lawyer Florian Themmer.