Matthias Scholz has been re-elected Managing Partner for Baker McKenzie Germany and Austria for an additional three-year term.
Weber & Co has advised Wienerberger AG, a Vienna-based supplier of building materials and infrastructure solutions, on its June 4, 2020 issuance of EUR 400 million of 2.750% 2020-2025 Bonds. Wolf Theiss advised joint lead managers BNP Paribas, Raiffeisen Bank International AG, and UniCredit on the issuance.
BPV Huegel, working with SIWE Rechtsanwalte Sinzger & Partner, has advised Dogado GmbH — a subsidiary of European Directories — on its acquisition of 100% of the second-largest Austrian hosting provider, Easyname GmbH. Dorda and Rittershaus advised the seller, Easyname’s Founder and Managing Director Florian Schicker, on the deal, and Allen & Overy’s Frankfurt office advised European Directories.
Ivan Males, from Croatia, is Senior Associate with DLA Piper in Vienna. He is a Finance, Projects & Restructuring practitioner with a focus on financing transactions and the infrastructure sector. In addition, he has gained particular knowledge on corporate and M&A cross-border transactions, notably in CEE and SEE markets.
Austria is one of the most desirable destinations for investors from Commonwealth of Independent States (CIS) countries. It is frequently chosen as a country for investment or as a hub for doing business in Eastern and Southern Europe. In addition to Austria’s attractive economic and political environments, investors can benefit from Austria’s legal environment, in particular (a) the general accessibility of its market; (b) Austria’s flexible corporate law, which has a lot of similarities with CIS corporate law; (c) the country’s comfortable tax regime; and (d) benefits the country extends to startups. Below we briefly consider these benefits.
The move by the Big 4 firms – Deloitte, KPMG, EY, and PwC – to capitalize on their client lists and their multi-disciplinary capabilities by extending the ability of their legal arms to compete with traditional law firms is by now well-established. In Austria, their legal arms have begun competing aggressively for talent as well.
Wolf Theiss and Covington & Burling have advised MSD on the acquisition of 100% of Austrian biotech company Themis Bioscience. Brandl & Talos and Wilson Sonsini Goodrich & Rosati advised the selling shareholders on the deal, which remains subject to regulatory approval, with McDermott Will & Emery and Herbst Kinsky advising Themis Bioscience. Financial details were not disclosed.
“The fairly stringent lockdown imposed by the Austrian Government in mid-March resulted in a relatively small number of infections,” says Paul Luiki, Partner at Fellner Wratzfeld & Partners in Vienna. “Apart from being able to get the infection under control, they also introduced a EUR 38 billion package to help the economy recover. Even though room for improvement always exists, given the little time the Government had to act, I think the support package on the whole has worked out just fine.”