Category: Austria

Baker McKenzie has advised Austrian certification expert Intact GmbH on its August 30, 2018 sale of a majority stake in the company to German investment company IMCap Partners. The buyer was represented by Hogan Lovells’ Dusseldorf office.

According to Baker McKenzie, “IMCap acquires a majority stake in Intact and provides further growth capital as part of the transaction.” Details on the purchase price were not disclosed. 

Intact was founded in southern Styria, Austria, in 2001, to support companies in audit, certification, and management processes with specialized software solutions. The company has since opened offices in Switzerland and the United States.

IMCap GmbH, an investment consulting company, provides its services to potential investors by searching, organizing, and managing direct investments in small- and mid-sized technology companies with a focus on software and/or digitalization. 

The Baker McKenzie team included Partner Wendelin Ettmayer and Junior Associates Pablo Essenther and Kathrin Freudelsperger.

The Hogan Lovells team consisted of Partner Lars Benger and Associate Christian Brenscheidt.

The Vienna office of Baker McKenzie has advised Austrian start-up company Klaiton on the entry of Germany’s Haufe Group as a strategic investor.

Klaiton specializes in assisting companies to find the most suitable business consultants and coaches through its online platform. The platform was founded by Tina Deutsch and Nikolaus Schmidt, two former consultants.

Originally rooted in the publishing business, the Haufe Group, which is based in Baden-Wurttemberg, has increasingly focused on the areas of education and training as well as digital services during the last decades. Among Haufe’s most well-known trademarks are the financial software Lexware and the HR Talent Suite Umantis.

According to Baker McKenzie, “the investment marks the start of a new period of growth in which Kaliton will cover the new business segment of coaching in Germany. Klaiton’s two founders will remain shareholders and managing partners.”

Signing and closing of the transaction took place on August 30, 2018.

Baker McKenzie’s team included Partner Wendelin Ettmayer, Associate Stephanie Sauer, and Junior Associate Pablo Essenther.

Clemens Gabriel has been promoted to Junior Partner at Austria’s Fellner Wratzfeld & Partner.

Gabriel, joined fwp as an Associate in 2014. He specializes in real estate law, environmental law, and state aid law. Before joining fwp, Gabriel assisted an NGO as a paralegal for several years. He graduated from the University of Vienna Law School in 2010 and earned his LL.M. in 2013.

Gabriel commented in a fwp press release that he is excited about his new role with the firm: “It fills me with pride to be able to work with such phenomenal colleagues in the future and to take on challenging mandates.”

“The quality of our performance is based on the successful development of our teams,” commented fwp Founding Partner Markus Fellner. “This includes taking on board long-serving associates who wish to work with us as attorneys after having successfully passed their exam and being admitted to the Austrian bar association.” 

Wolf Theiss has advised Raiffeisenlandesbank Vorarlberg on its first issue of a EUR 500 million bond. The bond has a tenor of 7 years and a coupon of 0.500 percent per annum. The banking consortium responsible for placing the bond on the international capital market, was represented by Weber & Co.

The denomination is EUR 100,000, and the bond is expected to be rated AAA by Moody’s. It is listed on the Official Market of the Vienna Stock Exchange. 

The banking consortium included DZ BANK AG Deutsche Zentral-Genossenschaftsbank Frankfurt am Main, Erste Group Bank AG, Landesbank Baden-Wurttemberg, and Raiffeisen Bank International AG.

The Wolf Theiss team included Partner Alexander Haas and Associate Nikolaus Dinhof.

Weber & Co.’s team was led by Partner Christoph Moser.

WMWP Act Legal has advised Vienna-based start-up Saturo Foods on an investment by Square One Foods.

Founded in 2017, Saturo manufactures a line of complete meals which are said to contain “an optimum amount of carbohydrates, proteins, healthy fatty acids, fibre, vitamins and minerals the human body needs be healthy and satisfied.”

Square One Foods is part of the Austrian Spitz Group, and according to Act Legal, ”is one of the biggest food producers in Austria, working independently.” Saturo Foods produces drinks which can replace whole meals. 

According to Act Legal, the capital provided by Square One Foods will be used for the further expansion of Saturo Foods, to finance distribution plans, and “to recruit the best talent and to expand their product lines.”

“We look forward to further expansion into the European market with Square One Foods as a  strong partner, and to continue developing innovative products for our customers,” said Saturo founder Hannes Feistenauer. “We have achieved a lot over the past 18 months  and are already the leader in the European sector for ready-to-drink ‘Complete Food.’ At the same time, we are only at the beginning of a revolution in the industry, as our long-term goals include plans for personalized meals for each customer. Obtaining a technological  advantage in regard to this will be a significant hurdle for our competitors.”     

Square One Foods added: “We believe in both the direction of market and the strength of the team.  Saturo has the potential to establish a new category of meal replacement drinks and will soon be an integral part of our beverage range, like Red Bull or Coca-Cola.”  

The Act Legal team was led by Partner Paul Koppenwallner. 

Schoenherr has advised Aves One AG on its EUR 155 million senior facility refinancing in the form of a new facility agreement with significantly improved commercial terms arranged by a consortium of German banks. The lenders were advised by Freshfields Bruckhaus Deringer in Vienna and Frankfurt.

According to Schoenherr, “Aves One AG is a strong investor rapidly expanding in the field of long-life logistics assets with a focus on rail freight cars. Its portfolio also includes standard shipping containers, swap trailers for road transport, and logistics properties.”

Aves’ customers include state-owned railway companies as well as industrial and logistics companies. The Hamburg-based company is listed on the regulated market of the Frankfurt Stock Exchange.

As a result of this transaction, Aves has managed to optimize its financing structure and reduce its annual interest payments.

The Schoenherr team was co-led by Partners Ursula Rath and Peter Feyl, supported by Partner Miriam Simsa, Attorney-at-law Laurenz Schwitzer, and Associate Philipp Kalser.

Allen & Overy has advised Oesterreichische Kontrollbank on its public offering of USD 1.5 billion of 2.875% Guaranteed Global Notes due 2021. The underwriters, Deutsche Bank AG, London Branch, J.P. Morgan Securities, and RBC Capital Markets, were represented by Davis Polk & Wardwell.

The bonds are guaranteed by the Republic of Austria and will be listed on the regulated market of the Luxembourg Stock Exchange.

According to Allen & Overy, ”Oesterreichische Kontrollbank is Austria’s main provider of financial and information services to the export industry and the capital market.” Its main functions include the administration of export guarantees as agent of the Republic of Austria and the financing of Austrian exports.

Allen & Overy’s Frankfurt-based team included Partner Marc Plepelits, Senior Associate Martin Schmidt, and Associate Rita Nicole Thomas.

The London-based team at Davis Polk included Partner Leo Borchardt and Associate Alexander W. Simmonds.

Former Wolf Theiss lawyer Carina Wolf has joined European crypto dealer Bitpanda as Legal Department Director.

Wolf specializes in corporate law, capital markets, and banking & finance, in particular on regulatory law issues in connection with Fintech and crypto-currencies. As part of Wolf Theiss’s Banking & Finance group, which she joined in January 2015, she led a cross-disciplinary crypto team. She also worked for two years at Fellner Wratzfeld & Partner and for a short time at Gassauer-Fleissner Rehtsanwalte. She graduated from the University of Innsbruck in 2009.

​​“Bitpanda’s dynamism and market environment in particular is a guarantee for extraordinarily exciting new tasks,” Wolf said. “I am pleased to be part of this team and to be able to accompany a young and already very successful company like Bitpanda.”

Image source: Jan Gott

Former CHSH Counsel Sarah Wared has moved to Wolf Theiss Vienna, joining as Partner.

Wared specializes in cross-border transactions in corporate/M&A and private foundation law. Sarah has expertise in a range of industry sectors including private equity and venture capital, financial institutions, and TMT.

“I am looking forward to supporting the M&A practice group of Wolf Theiss,” said Wared. “Wolf Theiss is a key player in the entire CEE/SEE region and is known for first-class and solution-oriented service.”

In the course of her career, Wared gained transaction experience with companies and commercial law firms in the USA, Singapore, Germany, and Austria, including the past six with CHSH Cerha Hempel Spiegelfeld Hlawati. She also spent a year with Monlaw Rechtsanwalte in Vienna, a year with Thummel Schutze & Partners in Singapore, and a year with Heitmann Vermeer Kolle Rechtsanwalte in Dusseldorf.

Wared holds a Master’s degree in Information Law from the Dusseldorf Law School, and obtained her J.D. in 2016 from the University of Vienna.

Vavrovsky Heine Marth has advised the Buwog Group on its entrance into a partnership with WIK/IES Immobilien Group to develop the Marina Tower residential building in Vienna. Saxinger, Chalupsky & Partner advised WIK/IES Immobilien Group in this deal.

The Buwog Group, listed on the Vienna, Frankfurt, and Warsaw stock exchanges, became part of Germany’s Vonovia SE and is a German-Austrian provider in the residential property sector. 

The Vavrovsky Heine Marth team was led by Partners Christian Marth and Nikolaus Vavrovsky and included Partner Daniela Kager and Attorney-at-Law Laura Weissel.

The SCWP Schindhelm team consisted of Partners Immanuel Gerstner and Irene Meingast.