In Austria, ESG issues are at the forefront, while the Viennese Building Code is being updated to promote environmentally friendly measures, according to Weber & Co Partner Daniela Witt-Doerring.
Closing: Semperit Acquisition of Rico Group Now Closed
On August 1, 2023, Binder Groesswang announced that Semperit Aktiengesellschaft Holding's acquisition of the Austrian Rico Group (reported by CEE Legal Matters on May 9, 2023) had closed.
Binder Groesswang and Wolf Theiss Advise on Wendel Sale of Constantia Flexibles to One Rock Capital
Binder Groesswang, working with Willkie Farr & Gallagher, has advised French investment company Wendel and other shareholders on their sale of Constantia Flexibles to One Rock Capital Partners. Wolf Theiss, working with Latham & Watkins, advised One Rock. Hamburg's Klawitter Neben Plath Zintler reportedly advised Wendel as well.
Raphael Valenta Rejoins KWR as Junior Partner
Raphael Valenta has rejoined the KWR Karasek Wietrzyk Rechtsanwaelte Corporate Law team in Vienna as a Junior Partner.
PHH and Dentons Advise Kommunalkredit on EUR 37.5 Million Financing for 63-Megawatt PV Plant in Hungary
PHH and Dentons have advised Kommunalkredit on a EUR 37.5 million financing for the 63-megawatt Senyo photovoltaic plant in Hungary. CMS reportedly advised the project's commissioners, Green Source and Core Value Capital.
The Public Procurement Tool
The public procurement tool is intended to prevent foreign subsidies (as defined in Art. 3 FSR) from distorting competition in the internal market. This happens when companies are able to submit unduly advantageous bids that drive competitors unsupported by state funds out of the market, for example because they are subject to the strict prohibition of intra-EU State aid under Art. 107(1) TFEU. The need to counteract market-distorting subsidies from third countries is "particularly pronounced" in public procurement, since public contracts are financed with taxpayers' money.
Cerha Hempel Advises Stadler on OBB Procurement of Battery-Powered Trains
Cerha Hempel has advised Stadler Bussnang on OBB's tender procedure for up to 120 Cityjet battery-powered trains. Schramm Oehler reportedly advised OBB.
HBN Advises IBB Shareholders on Sale to ProLogistik Group
Hule Bachmayr-Heyda Nordberg has advised the shareholders of IBB Adaptive Solutions and Adaptive Gmbh on the sale of their shares to ProLogistik.
Hule Bachmayr-Heyda Nordberg Advises on Wintersteiger Group Restructuring
Hule Bachmayr-Heyda Nordberg has advised the Wintersteiger Group on its restructuring where the company's sports, woodtech, seedmech, and operations divisions were spun off into four subsidiaries, with the parent company being renamed as Wintersteiger Holding AG.
Cerha Hempel Helps SES Obtain Regulatory Clearance for Europark Expansion
Cerha Hempel has advised SES on obtaining regulatory clearance for expanding the Europark shopping center in Salzburg.
Schima Mayer Starlinger Advises on Wien Energie, Rhein Energie, Siemens Energy, and Verbund's Hydrogen Mix Project
Schima Mayer Starlinger is advising Wien Energie on its joint project with Rhein Energie, Siemens Energy, and Verbund to mix hydrogen into the natural gas powering the steam turbine system of Vienna's Donaustadt power plant.
Wolf Theiss Advises Convera on Acquisition of Parts of Western Union Business
Wolf Theiss has advised Convera on the acquisition of parts of the Austrian business of Western Union.
The transposition of the Collective Redress Directive in Austria: What to Expect
By 25 June 2023, the transitional provisions of the Collective Redress Directive should have been applicable throughout the EU. Austria – like several other EU Member States – did not meet this deadline. The following article deals with potential transposition options, for the Collective Redress Directive, by the Austrian legislator.
The Foreign Subsidies Regulation: Application of the regime as at 12 July 2023
The Regulation (EU) 2022/2560 on Foreign Subsidies Distorting the Internal Market (FSR) formally entered into force on 12 January 2023, but the regime did not apply until 12 July 2023. On the same day, the respective Implementing Regulation (EU) 2023/1441 was published in the Official Journal.
DLA Piper Advises on S Immo EUR 75 Million Green Bond Issuance
DLA Piper has advised Erste Group Bank on S Immo’s EUR 75 million green bond issuance under its EUR 300 million issuance program. Cerha Hempel reportedly advised S Immo.
Third Time's the Charm? EU-US Data Privacy Framework Revamped and Reloaded
On 10 July 2023, the European Commission adopted an adequacy decision for a lawful data transfer from the EU to the USA for the third time. This means that personal data may again be lawfully transferred to the US. This will facilitate the use of US service providers for EU companies.
Schoenherr Advises Tello Holding on Acquisition of VA Intertrading
Schoenherr has advised Tello Holding on the acquisition of a majority stake in VA Intertrading Aktiengesellschaft by taking over Kairos Industrie Holding from Hanno Baestlein. DSC Doralt Seist Csoklich reportedly advised the seller.
Wolf Theiss and DLA Piper Advise on UBM Development EUR 50 Million Green Bond Issuance
Wolf Theiss has advised joint lead managers and bookrunners Raiffeisen Bank International and MM Warburg on the subscription and placement of UBM Development's EUR 50 million issuance of 7% green bonds. DLA Piper advised the issuer.