Category: Austria

CHSH Cerha Hempel Spiegelfeld Hlawati has advised the shareholders of FirmenABC Entwicklung und Management GmbH in connection with the sale of 80% of its share capital to Eugen Marketing Beteiligungen GmbH, a company belonging to the Swiss Investnet group. The buyers were advised by Wiedenbauer Mutz Winkler & Partner Rechtsanwalte.

FirmenABC Entwicklung und Management GmbH, which has subsidiaries in Austria and Germany, was established in 2005 by Klaus Rebernig and Manfred Gansch and is a prominent referral marketing agency for small and medium-sized enterprises in the German-speaking world. The company currently has business operations in Austria and Germany with over 13,000 customers. The acquisition of a stake by the Investnet group will enable FirmenABC Entwicklung und Management GmbH to expand further under the same management of directors Manfred Gansch and Klaus Rebernig and enter new markets.

“We’re extremely pleased to have supported the shareholders of the FirmenABC group in connection with this complex transaction and to have successfully provided assistance regarding the inclusion of Investnet as a strong partner for the company’s expansion,” said CHSH Partner Johannes Aehrenthal, who led the firm’s team on the deal. CHSH Associates Stefanie Heimel and Michael Radner supported Aehrenthal on the team.

The WMWP team acting on behalf of Eugen Marketing Beteiligungen was led by Partner Martin Wiedenbauer, supported by Attorney Paul Koppenwallner.

Brandl & Talos has advised Dr. Karl Petrikovics, former executive with Immofinanz AG, on a settlement he reached with the company following months of negotiations, which was approved at a June 1, 2017 Immofinanz General Meeting. The settlement brings an end to all disputes and procedures between the two parties.

“The questions pertaining to executive liability in the proceeding have been discussed at heretofore unprecedented levels.” said Brandl & Talos Partner Christopher Schrank, who has been representing Petrikovics since 2008 in various proceedings and investor processes. According to B&T, Schrank described the conclusion of the settlement as a great success, “as it allows both sides to conclude a complex dispute that has lasted for almost ten years.” 

Schoenherr has advised Erste Group Bank AG on the financing of the leveraged buyout of Austrian sensor technology manufacturer Frauscher Sensortechnik GmbH by New York-based Greenbriar Equity Group LLC. MNKS acted as Luxembourg counsel for Erste Group, and Frauscher Sensortechnik and Greenbriar were advised by Binder Groesswang and Stibbe, respectively.

Schoenherr acted as lead counsel to the agent and original lender Erste Group with respect to the structuring and implementation of the leveraged buyout financing under Austrian law.

Greenbriar is a private equity sponsor focused on investments in the global transportation industry with over USD 2.5 billion of committed capital across three funds.

Frauscher Sensortechnik provides wheel detection systems, axle counters, and tracking solutions based on inductive sensor technology.

The Schoenherr team advising Erste Group consisted of Partner Martin Ebner, Attorney at Law Laurenz Schwitzer, and Associate Martina Hiebl. 

Fellner Wratzfeld & Partner has advised the former owners of GREENoneTEC Solarindustrie GmbH on the sale of their majority stake in the company to China’s Haier Group. Weber & Co. and White & Case advised the buyers on the transaction, which was completed at the end of May, approximately two years after the start of the sales process.

According to FWP, GREENoneTEC, which is based in Carinthia, “is one of the leading producers of solar thermal collectors and world market leader for flat-plate collectors.” 

FWP describes the transaction as “highly complex, including also the restructuring of group financing.” According to firm Partner Florian Kranebitter: “The transaction was particularly challenging as it was necessary to align the parties’ varying interests, taking account of different mindsets and approaches, both in terms of negotiating strategy and the structuring of the transaction. We are happy to have successfully provided advice for one of the few Austro-Chinese M&A transactions.”

FWP’s core team consisted of Partners Florian Kranebitter and Lukas Flener and Associate Stefan Knotzer. The firm also cooperated with TerraLex in foreign jurisdictions. 

The Weber & Co. team was lead by Partner Stefan Weber and included Partner Christoph Moser and Associate Gregor Erich. The White & Case team was lead by Beijing-and-Singapore-based Partner Vivian Tsoi.

Wolf Theiss has provided legal support for the April 2017 groundbreaking for the new Boehringer Ingelheim production facility in Vienna and advised on the creation of related contracts.

Wolf Theiss reports that EUR 700 million has been budgeted for the project, which is expected to generate 500 new jobs. The new facility, scheduled to go into operation in 2021, will produce biopharmaceutical products by means of cell cultures.

Wolf Theiss Partner Karl Koller led the project, working with Partner Thomas Anderl. 

Wolf Theiss has advised the Vienna Insurance Group as issuer and Erste Group as arranger, sole lead advisor, and bookrunner on VIG’s issuance of a EUR 250 million 3.5% tier 2 subordinated bond to run from 2017 to 2027.

The issuance was announced on April 21, 2017, and was directed primarily at Austrian and German retail investors. Wolf Theiss reports that when published, the range of the coupon was set at 3.5% to 3.625%, and set at the lower end of the range following the book-building on April 26. The book, kept by Erste Group, reached EUR 250 million in two hours.

Wolf Theiss Partner Alexander Haas and Associate Nikolaus Dinhof handled the documentation and legal issues surrounding the capital market, with Partner Claus Schneider and Consultant Christine Siegl advising on structuring the product.

Brandl & Talos has advised GoLending AT GmbH on the issuance of a corporate bond with an indefinite term for a total of up to EUR 50 million. The new bond bears interest at an annual rate of 9.725% and can be subscribed to as of May 1, 2017, for a minimum subscription price of EUR 100,000.00.

GoLending AT GmbH, based in Vienna, operates as a pawn broker. The capital raised through the bond is intended to further strengthen the liquidity of the company and, above all, to finance and expand its operational activities in the area of providing pawn loans in the commercial arena.

The Brandl & Talos consisted of Partner Christopher Schrank, Attorney Martin Kollar, and Associate Hannes Schlager.

Brandl & Talos has advised aws Mittelstandsfonds in its investment in the Vorarlberg, Austria-based med-tech company System Industrie Electronic.

Originally established in 1994 as a trading company for electronic components, S.I.E. today is one of the leading providers of embedded computing solutions for the med-tech industry. According to Brandl & Talos, “the company’s portfolio consists of sophisticated hardware and software solutions as well as individual product developments for well-known manufacturers.”

With the investment of aws Mittelstandsfonds, S.I.E. looks to accelerate its international expansion strategy of recent years.  

The transaction was handled by a Brandl & Talos team headed by Partner Roman Rericha and including Markus Arzt and Julie Anne Sugay.  

Schoenherr is representing Cubic (London) Limited and core shareholders including San Gabriel Privatstiftung and T.R. Privatstiftung on the sale of their controlling stake in C-Quadrat Investment AG to the Chinese conglomerate HNA Group (Hong Kong) Co., Limited. C-Quadrat is an independent asset manager listed on the Vienna Stock Exchange. 

On May 3, 2017, the core shareholders, San Gabriel Privatstiftung, and T.R. Privatstiftung, along with Hallmann Holding International GmbH, Q-Cap Holdings Ltd,. and Laakman Holding Ltd, concluded conditional share purchase agreements with HNA Group (International) Asset Management Co., Limited (HNA) with regard to the acquisition of C-Quadrat shares. The transactions are subject to regulatory clearance.

Following regulatory clearance, HNA will contribute the acquired C-Quadrat shares, and the core shareholders will contribute their remaining C-Quadrat shares to Cubic. HNA will thereby acquire a participation of about 74.8 % in Cubic, and Cubic will acquire a participation in C-Quadrat of over 98%.

The market capitalization of C-Quadrat currently exceeds EUR 280 million.

The Schoenherr team advising Cubic and the core shareholders is led by Partner Christian Herbst and includes Partner Peter Feyl and Counsel Sascha Schulz.

Schoenherr did not reply to our inquiry about counsel for HNA.

Editor’s Note: After this article was published, Schoenherr announced that the transactions had been cleared by financial regulators in Austria, the UK, and Armenia, and that the sale of a majority shareholding of 74.9 % in Cubic by HNA closed on April 23, 2018.

Wolf Theiss has advised Aachener Grundvermogen on its purchase of a commercial property on St. Stephen’s Square in the city center of Vienna from Julius Meinl Versicherungsservice & Leasing Vermogens‐ und Finanzierungsberatung G.m.b.H. DLA Piper Weiss-Tessbach advised the sellers on the deal.

Founded in 1973, Aachener Grundvermogen is a financial investment management company headquartered in Cologne, Germany. The company acquires and manages real estate for legally independent investment funds. Aachener Grundvermogen focuses its investments on top-rated retail areas located in various city centers in Germany and elsewhere in Europe. Aachener Grundvermogen currently manages 16 real estate investment funds with a total volume of approximately EUR 6.3 billion for institutional investors.

Wolf Theiss reports that it was responsible “for the due diligence, negotiating, and concluding the purchase agreement as well as closing the entire purchase of the property.” The firm’s team was led and coordinated by Counsel Stefan Weishaupt and also included Partner Peter Oberlechner and Associate Iris Riepan.

In-house lawyers Bianca Aymans-Werle and Alexander Schroer advised Aachener Grundvermogen on the transaction.

DLA Piper Weiss-Tessbach did not reply to our inquiry on the matter.