02
Tue, Jun
98 New Articles

Dorda Advises Weichai Group on Acquisition of Majority Stake in VDS Group

Dorda has advised China's Weichai Group on its acquisition of 51% of the VDS Group, an Upper-Austrian transmissions specialist. SCWP Schindhelm advised the sellers on the deal, which remains subject to regulatory approval. The purchase price was not disclosed.

Dorda Advises GalCap on Acquisition of Building in Vienna-Meidling

Dorda has advised GalCap on the acquisition of a mixed-use building at Pohlgasee 26 in Vienna-Meidling from UBM and Invester. UBM was advised by solo practitioner Jakob Molzbichler.

Schoenherr, in cooperation with BonelliErede, advised Covivio on the acquisition of eight luxury hotels in Europe from Varde Partners, a global alternative investment firm, for EUR 573 million. Varde was reportedly advised by Italian firms Gianni Origoni Grippo Cappelli and Partners and Ludovici Piccone and Partners.

Allen & Overy has advised Oesterreichische Kontrollbank on legal aspects of its public offering of USD 1.5 billion of 1.500% Guaranteed Global Notes due 2025. The bonds are guaranteed by the Republic of Austria and will be listed on the regulated market of the Luxembourg Stock Exchange.

May you resell a book that you have previously purchased? Of course. However, from a copyright perspective the reasoning is not as easy as one might think, since purchasing a copyrighted work like a book means purchasing the paper but not the rights to the content, which is the intellectual property of the author.

Wolf Theiss has advised Raiffeisen Bank International AG on the issuance of a Ordinary Senior Eligible bonds worth EUR 750 million under its EUR 25 million Debt Issuance Program. Banco Santander, S.A., BNP Paribas, Citigroup Global Markets Limited, Morgan Stanley & Co International, and RBI were joint lead managers.

“The political situation in Austria has been stable, as you would expect, even more so, given that a new government is in place following the elections we had last year,“ reports Florian Klimscha, Partner at Freshfields Bruckhaus Deringer in Vienna. “Also the interim government – largely made up of experts and public officials – that was in place during the recent coalition talks was up to the task.“ 

The newly sworn in Austrian government recently introduced its 326-page government plan for 2020 – 2024, which also includes some intended changes with respect to taxation. The aim of these possible changes is to lower the overall tax burden and to make the tax system more ecological.

Dentons and Kirkland & Ellis have represented GIC, Singapore’s sovereign wealth fund, on the acquisition of the Maximus logistics real estate portfolio from funds managed by Apollo Global Management, a US-based private equity firm. Noerr advised the sellers on the transaction, which was signed in December 2019 and closed on January 31, 2020, and which was valued at approximately EUR 950 million.

After several extensions and long negotiations, the United Kingdom is now set to leave the European Union on 31 January 2020, after which a transitional period will commence until 31 December 2020. Trade between the EU and the UK will be impacted severely, most notably due to changes to harmonised indirect taxes, such as VAT. When EU law ceases to apply, which is currently projected to be after the transitional period, the UK will be treated as a third country instead of a Member State for VAT purposes. This article will provide a legal analysis of the consequences for VAT law.

Schoenherr lawyers Pawel Halwa and Thomas Kulnigg have been promoted to Equity Partner as part of the firm's annual promotion round, and lawyers Constantin Benes, Leon Kopecky, Guenther Leissler, Laurenz Schwitzer, Manuela Zimmermann, Georgiana Badescu, Madalina Neagu, and Milos Lakovic have been promoted to Contract Partner.

In a recent judgment, the Austrian Supreme Court found that the concept of the "single economic entity" (wirtschaftliche Einheit) may also apply to jointly controlled undertakings. The judgment entails an interesting discussion on the applicability of the antitrust group privilege in the relationship between a joint venture and its shareholders.