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Pursuant to Article 186 of the EU Solvency II Directive (2009/138/EC), EU member states must grant life insurance policyholders a 14 to 30-day period to cancel their contract from the time when the policyholders were informed that the contract was concluded.

Read more: Austria: New Unified Cancellation Right for Insurance Contracts Brings Legal Certainty

Baker McKenzie has advised France's Compagnie des Alpes on its purchase of all shares in M. Muller GmbH, the operator of the Familypark amusement park in Austria. Jank Weiler Operenyi advised the sellers.

Read more: Baker McKenzie and Jank Weiler Operenyi Advise on CDA Take Over of Austrian Amusement Park

Schoenherr provided Austrian advice and Hengeler Mueller was lead counsel to private equity group Bain Capital on its sale of a 32% stake in the Wittur Group to an investment company of the Canadian Public Sector Pension Investment Board.

Read more: Schoenherr Advises Bain Capital on Sale of Stake in Wittur Group to PSP Investments

Fellner Wratzfeld & Partner has advised a syndicate of banks consisting of Erste Bank der oesterreichischen Sparkassen AG, Raiffeisenlandesbank Oberosterreich AG, Raiffeisen Bank International AG, and UniCredit Bank Austria on financing and a consequent takeover of Waagner Biro Bridge Systems AG by a group of investors.

Read more: FWP Advises on Waagner Biro Bridge Systems Takeover

Cerha Hempel Spiegelfeld Hlawati, Addleshaw Goddard, and Portugal's Morais Leitao, Galvao Teles, Soares da Silva & Associados have advised Value One Holding AG on its joint venture with Nuveen Real Estate to invest EUR 600 million on the development of purpose-built student accommodations in Portugal and Austria. Linklaters reportedly advised Nuveen Real Estate on the deal.

Read more: CHSH Advises Value One on Student Accommodation Joint Venture

Schoenherr has successfully advised the Vienna International Airport and the province of Lower Austria on the successful application for permission to construct a third runway at the Vienna International Airport.

Read more: Schoenherr Helps Vienna International Airport Achieve Final Permission to Construct Third Runway

Fellner Wratzfeld & Partner has advised Oesterreichische Kontrollbank AG on the acquisition of around 70% of Osterreichische Hotel-und Tourismusbank Gesellschaft m.b.H from UniCredit Bank Austria AG and Erste Bank der Oesterreichischen Sparkassen AG. Schoenherr advised UniCredit Bank and Erste Bank on the sale.

Read more: FWP and Schoenherr Advise on OeKB Acquisition of Majority Stake in OHT

Schoenherr, working with lead counsel Hengeler Mueller and Belgium's Bredin Prat, China's JunHe, Mexico's Galicia Abogados, and Wuersch & Gering in New York, has advised Sweden's Ericsson on its acquisition of Germany's Kathrein SE's antenna and filters division. Noerr and Ziems & Partner acted as lead counsel to Kathrein, assisted by, among others, Eisenberger & Herzog, Freshfields Bruckhaus Deringer, Allen & Overy, and Gleiss Lutz.

Read more: Schoenherr and Eisenberger & Herzog Among Plethora of Firms Advising on Ericsson Acquisition of...

“On the business side,” says Freshfields Bruckhaus Deringer Partner Friedrich Jergitsch, when asked what’s happening in Austria, "people are interested in artificial intelligence, data protection, and cyber-issues. These topics are always important to our clients.” Jergitsch says that data protection responsibilities and concerns “reach far beyond the GDPR.” He explains that “it’s an enormous subject in M&A, and M&A-related due diligence, because a lot of the M&A work involves clients purchasing data companies or cyber companies, and of course it’s a common post-M&A dispute topic, as well as a contractual topic, including in finance transactions.”

Read more: The Buzz in Austria: Interview with Friedrich Jergitsch of Freshfields Bruckhaus Deringer

Dorda and Latham & Watkins have advised private equity fund Triton and ADIA — a wholly-owned subsidiary of the Abu Dhabi Investment Authority — on the acquisition of 100% of IFCO, a unit of Australian Securities Exchange-listed Brambles Limited. Brambles Limited was reportedly advised by Linklaters and Eisenberger & Herzog.

Read more: Dorda and Latham & Watkins Advise Triton and Adia on IFCO Takeover

Baker McKenzie has advised the Delachaux Group, which it describes as "the world market leader in rail infrastructure technology," on its acquisition of a majority stake in Upper Austria's Frauscher Sensortechnik from the Greenbriar private equity fund. Kirlkand & Ellis advised the sellers on the deal, which closed on February 28, 2019. Financial details were not disclosed.

Read more: Baker McKenzie and Kirkland & Ellis Advise on Delachaux Takeover of Frauscher Sensortechnik

Schoenherr has advised Toyota Motor Europe on the acquisition of Austrian marketing and sales company Toyota Frey Austria from the Frey Holding GmbH. Schindler Attorneys advised the sellers on the deal.

Read more: Schoenherr and Schindler Attorneys Advise on Toyota Motor Europe Acquisition of Toyota Frey Austria

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