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Wolf Theiss has advised the Chinese home appliance producer Hisense on its takeover offer for 95% of the shares in Slovenian white-goods manufacturer Gorenje. Jadek & Pensa advised Gorenje on the sale. The transaction value exceeds EUR 250 million.

Fellner Wratzfeld & Partner and Wolf Theiss have advised the Steinhoff Group on the sale of the Kika/Leiner Group to Signa Holding. Arnold Rechtsanwalte advised Signa Holding on the acquisition. Kika was represented by Urbanek Lind Schmied Reisch on the sale. Eisenberger & Herzog and the London office of Milbank, Tweed, Hadley & McCloy advised a group of creditors of the seller of Kika/Leiner's property assets in Austria and several CEE countries.

The European Union’s General Data Protection Regulation is, according to the EU-hosted GDPR website, “the most important change in data privacy regulation in the past 20 years.” The Act, which was approved by the EU Parliament on April 14, 2016 and will become fully effective on May 25, 2018, was designed “to harmonize data privacy laws across Europe, to protect and empower all EU citizens’ data privacy, and to reshape the way organizations across the region approach data privacy.”

Unlike those of its neighbours to the East, Austria’s economy was allowed to operate free of communist interference, allowing the country to hit well above its weight, comparatively-speaking. Thus, although Austria is the 11th biggest country in CEE in population, with 8.7 million people, it has the third largest economy, behind only Russia and Poland. And these days, with the global financial crisis now firmly in the rearview mirror, the country is once again able to capitalize on its happy geographical positioning and historical relationship with the former members of the Austro-Hungarian empire.

In The Corner Office we ask Managing Partners at law firms across the region important questions about their unique roles and responsibilities. The question this time around: What was your favorite course in law school, and why?

Wolf Theiss, working with Italian offices of Dentons, has advised the shareholders of Lifebrain, an Italian laboratory diagnostics services operator, on the cross-border sale of its shares to an investment subsidiary of Investindustrial VI L.P.  Investindustria, which was advised by Italy's Chiomenti law firm, with CHSH acting as local counsel for Austria, now owns 96% of Lifebrain.

Wolf Theiss has advised Raiffeisen-Landesbank Steiermark AG on the issuance of EUR 500 million Mortgage Backed Bonds under its Bonds and Certificates offering program. The Joint Lead Managers were DZ BANK AG, Deutsche Zentral-Genossenschaftsbank Frankfurt am Main, Erste Group Bank AG, Landesbank Baden-Wurttemberg, Raiffeisen Bank International AG, and UniCredit Bank AGm and were advised by Weber Rechtsanwalte.

CMS Prague has announced that Libor Prokes was promoted to Partner on May 1, 2018. Prokes focuses on real estate transactional work, including property sales and acquisitions, as well as leasing and constructions matters.

Update on Hungary's solar boom – significant benefit to photovoltaic projects licensed under mandatory offtake system upon applications submitted before 2017.

The western Balkan countries of Albania, Bosnia and Herzegovina, Kosovo, Montenegro, Serbia, and the Republic of Macedonia share the desire to join the European Union. Two of these countries — Albania and Macedonia — are particularly close to accession. we spoke to several lawyers to learn more about how accession could affect the business landscape and the work of lawyers in the two countries.