Under Article 30 (5) (c) of Directive (EU) 2015/849 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing (AML Directive 2015), Member States are obliged to ensure that information on beneficial ownership is accessible by any person or organisation that can demonstrate a legitimate interest in obtaining it.

Cerha Hempel has advised Spar on its cooperation agreement with vegan-vegetarian chef Paul Ivic.

The increasing US-based investor interest in Austrian tech start-ups – despite the hard times and a certain lack of governmental decisiveness – is creating a buzz in the country, according to DLA Piper Austria Managing Partner Christoph Mager.

Wolf Theiss, working with Baer & Karrer, has advised Farner International AG on its acquisition of the Vienna-based Kobza Media Group. B-legal | Blumauer & Partner advised Kobza Media Group.

Dorda, working with Choate, Hall & Stewart and Armstrong Teasdale, has advised PDFTron on its acquisition of Eversign. EY Law advised the sellers.

Starting in February 2023, Partner Alexander Popp will take over as Managing Partner, with Partner Gudrun Stangl continuing in the COO position. Rounding out the Schoenherr Steering Committee are Partners Matei Florea, Thomas Kulnigg, and Franz Urlesberger.

E+H has advised Ecowind on its joint venture with EVN subsidiary EVN Naturkraft for the construction of a 24.5-megawatt floating photovoltaic plant in Grafenwoerth.

E+H has advised Flapjack on the closing of a pre-seed convertible loan financing round with investors from Graz and Vienna.

Wolf Theiss has advised Midway Holding subsidiary Haki on its acquisition of Ekro Bausystem. Schneeweiss Weixelbaum advised the seller.

Dominik Juster has joined the E+H partnership in Austria.

The Digital Services Act ("DSA") was published in the Official Journal of the European Union on 27 October 2022. This means that the Act, targeting numerous online services, will enter into force only 20 days later, on 16 November 2022.

Cerha Hempel has advised NC Management and the NC Growth Fund I on a EUR 12 million series B financing for Pimcore. 42law advised Pimcore and its shareholders and founders.

Schoenherr has advised the shareholders of Vienna-headquartered biotech company Eucodis Bioscience on the sale of the company to the Biosynth Group. Reportedly, Gibson Dunn & Crutcher and E+H advised the Biosynth Group.

Herbst Kinsky, working with Norton Rose Fulbright, has advised Treis on the sale of Cycleenergy Holding to an Austrian investor group consisting of Invest AG, Industrieliegenschaftenverwaltung, and the company’s management team.

Approximately two and a half years ago, online gambling providers started being sued by their customers, in various courts in Austria and Germany, demanding reimbursement for their losses by arguing that these services are offered illegally. This article will highlight some of the main issues surrounding these claims.

CMS has advised Swedish-Swiss technology group ABB on its acquisition of Austrian energy optimization company ASKI Energy.

Herbst Kinsky has advised the Uniqa Insurance Group on a syndicate agreement with Raiffeisen Holding Lower Austria-Vienna, Haselsteiner Privatstiftung, and Hans-Peter and Klemens Haselsteiner for maintaining the existing controlling interest in Strabag.

Karasek Wietrzyk Rechtsanwaelte has advised the Myneva Group on the acquisition of Mocca Software. Act Legal WMWP advised the sellers on the deal.