On October 31, 2018, CEE Legal Matters reported that the Erste Group had issued the first loan via blockchain platform in Europe. We reached out to Erste Group's Managing Director and Head of Group Transaction Documentation Kathrin Gfall-Gapp to enquire on the first paperless issuance experience.
Wolf Theiss Partners Andrea Gritsch, Sebastian Oberzaucher, and Claus Schneider have been elected Managing Partners at the firm, joining current Managing Partner Richard Wolf, who was reelected to the position.
Wolf Theiss has advised Soravia on the sale of its "The Brick” building complex to Wiener Stadtische Versicherung. DSC Doralt Seist Csoklich advised the buyers on the deal, which was signed and closed on November 21, 2018.
Austria's Central Public Prosecutor's Office for White-Collar Crime and Corruption has dropped charges against Matthias Hartmann, the former Director of Austria's Burgtheater, who was represented by Cerha Hempel Spiegelfeld Hlawati.
As in all EU member states, the EU General Data Protection Regulation (GDPR) came into effect in Austria on 25 May 2018. The centrepiece of Austria's GDPR implementing legislation was the Data Protection Amendment Act 2018 (for further details please see "Draft Data Protection Amendment Act 2018 in appraisal" and "Proposals to alter national Data Protection Act").
Brandl & Talos has advises aws Grunderfonds on its entry into Viennese start-up ToolSense GmbH.
Weber & Co. has advised OMV Aktiengesellschaft in connection with the issue of a corporate bond in an aggregate volume of EUR 1 billion. White & Case advised the Joint Lead Managers on the bond issue.
Schoenherr Vienna and Swedish law firm Delphi have advised AddLife AB on the acquisition of Austrian life sciences company Biomedica Medizinprodukte GmbH. The sellers of Biomedica were advised by PHH Attorneys at Law.
Binder Groesswang, Noerr, and Spain's Gomez-Acebo & Pombo have advised Japan's Daikin Group on the EUR 881 million acquisition of AHT Group from the Bridgepoint private equity group. The Frankfurt office of Freshfields Bruckhaus Deringer advised the sellers on the deal.
On July 9, 2018, the German and Austrian competition authorities published joint guidelines regarding the transaction value thresholds of their respective merger regimes.
Wolf Theiss has advised real estate investor and manager Westcore Europe on its acquisition of the U6 Center office and warehouse property in Vienna from Hanseatische Immobilienfonds Oesterreich IV and Germany's HCI Treuhand Geschlossener real estate fund. The sellers were advised by PKHV Rechtsanwalte.
Wolf Theiss has advised RBI and Erste Bank as joint lead managers and book runners on UBM Development AG's EUR 75 million corporate bond and as dealer managers of an exchange offer. DLA Piper advised UBM Development.
Johannes Juranek has been appointed Managing Partner of CMS Reich-Rohrwig Hainz and will assume the role at the start of the firm's financial year on February 1, 2019.
Fellner Wratzfeld & Partner has advised the banks of the Waagner-Biro group on the company's restructuring and sale to Grosso Holding Gesellschaft mbH.
Wolf Thiess Vienna has advised Panoro Energy ASA on its USD 65 million acquisition of OMV’s wholly-owned subsidiary, Tunisia Upstream GmbH.
Technology and innovation are key drivers of advancement in a variety of industries, and certainly in healthcare. The level of patient care can be improved considerably with the right mix of traditional and innovative treatments and solutions. Nevertheless, there are regulatory challenges to overcome.
Schoenherr has established a new Healthcare & Life Sciences group, jointly led by Corporate/M&A Partner Florian Kusznier and Dispute Resolution Andreas Natterer.
Christoph Moser, Partner at Weber & Co., says that Austria is not currently facing any changes that would equal the impact of the GDPR. Instead, Moser reports, the current government in Austria is focusing on implementing the measures that were promised during the run-up to the country’s 2017 elections, including regulations related to rules for employees. Among the most prominent examples of this, Moser says, is the new rule allowing 12-hour workdays that was introduced this summer. The change according to Moser, "is significant and caused political debates about whether a 12-hour work day was justified, as well as protests.