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CMS and KPMG Law Advise on Plastic Omnium's Establishment of Joint Venture with ElringKlinger

CMS and KPMG Law Advise on Plastic Omnium's Establishment of Joint Venture with ElringKlinger

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CMS has advised Plastic Omnium on establishing a joint venture with ElringKlinger. In addition, Plastic Omnium acquired ElringKlinger’s Austrian subsidiary — ElringKlinger Fuelcell Systems Austria — for almost EUR 15 million. KPMG Law Germany and KPMG Law Austria Buchberger Ettmayer advised ElringKlinger on the transaction, which remain subject to regulatory approval.

According to CMS, the transaction is designed to “drive forward the development of hydrogen mobility” and “will create a joint venture for the development and large-scale production of fuel cell stacks for CO2-neutral mobility. ElringKlinger will contribute its fuel cell business and expertise. Plastic Omnium will invest around EUR 100 million for accelerating innovation, expanding the commercial pipeline, and increasing production capacities. “

The newly established company, EKPO Fuel Cell Technologies, will be 60% owned by ElringKlinger and 40% by Plastic Omnium.

The CMS team included Germany-based Partner Dirk Jannott and Senior Associate Artur Baron and Austria-based Partners Alexander Rakosi, Dieter Zandler, and Sibylle Novak, Attorney Georg Gutfleisch, and Associates Marco Selenic and Sanela Fuerstenberg.

KPMG Law Austria Buchberger Ettmayer's team was led by Partner Wendelin Ettmayer.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

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