On April 20, 2023, the European Commission ("Commission") adopted a merger simplification package ("Package") aimed at simplifying the Commission's review of concentrations under the EU Merger Regulation. The core of the Package is the expansion of the categories of cases which can be treated under the Commission's simplified procedure. In addition, the Package aims to streamline the review of simplified and non-simplified cases by introducing new notification forms.

Cerha Hempel has advised IRMA Investments on Raiffeisen Beteiligung's acquisition of a 50% stake in Austrian photovoltaic module manufacturer Energetica Industries. Dorda advised the Raiffeisen-Landesbank Oberoesterreich subsidiary on its investment.

Struggling with high inflation, tough questions are being asked of the Austrian M&A market lately, and the government responded by planning a new, more flexible corporate form with reduced capital requirements, according to Graf Patsch Taucher Partner Bernd Taucher.

Austrian law firm Vavrovsky Heine Marth has opened a new office in Linz, in addition to the firm's operations in Vienna and Salzburg.

Securing e-evidence and establishing efficient procedures is key.

Cerha Hempel has advised Raiffeisen Property Holding International on the sale of an office building in the Neu Marx area in the third district of Vienna to the European Handball Federation via a forward purchase. Reportedly, Joklik, Katary, Richter advised the buyers on the deal.

Regulation (EU) 2022/2560 on Foreign Subsidies (the "FSR") aims to address distortions caused by foreign subsidies in the single market. In this part of our FSR Insight Series, we explain the fundamental notion of what constitutes a "foreign subsidy" within the meaning of the FSR. You will find a basic definition in Article 3 FSR, with some further considerations in recitals 11 to 16 of the Regulation.

CEELM: First, congratulations on winning the Deal of the Year award in Austria!

The Austrian real estate market has been characterized by steady growth over the last decade, driven by a strong economy, low-interest rates, and increasing demand from both local and foreign buyers. 

Alexey Amvrosov, Lead Counsel for IBM Consulting in CEE, based in Vienna, highlights the soft skills that will differentiate successful legal leaders from those less so.

Herbst Kinsky has advised Lifetree Asset Management – Froots – on its second financing round which saw Gregor Schlierenzauer and Ronald Holzmann join existing investors Georg Kapsch, Andreas Treichl, Gina Goess, and Reinhold Baudisch, with the company raising over one million euros. 

On May 22, 2023, CEE Legal Matters reported that Wolf Theiss, working with Milbank, had advised the initial purchasers and lenders on Salzburg-based Benteler Group’s capital market debut issuance and loans amounting to over EUR 2 billion. CEELM reached out to Wolf Theiss Partner Matthias Schimka to learn more about the matter.

E+H has advised EcoWind on the sale of the Steinberger Alpe wind farm and the Soboth wind turbine to Kelag in an international bidding process.

Taylor Wessing has advised wind energy technology company SkySpecs on the acquisition of i4SEE.

Cerha Hempel has advised OMV on the sale of its Avanti-branded service stations in Germany to PKN Orlen Group's Orlen Deutschland.

Former PwC Legal Attorney at Law Simon Baier has launched the eponymous SHB Law Office Simon Harald Baier.

Rautner Rechtsanwaelte has advised Gugelsolar GesmbH and Erste Bank on their construction and financing of the Sonnenfeld Pellendorf agri-photovoltaic system as an addition to the existing Gugelberg wind farm.

Binder Groesswang, working with Willkie Farr & Gallagher, has advised PAI Partners on its acquisition of NovaTaste – formerly the Savory Solutions Group – from International Flavors & Fragrances. Cerha Hempel, working with Cleary Gottlieb, advised the seller.