Category: Austria

Dorda, working with Roschier, has advised European growth investor Sprints on its partnership with Styria Media Group to acquire all of Adevinta’s shares in Willhaben. Freshfields advised Adevinta. E+H advised Styria Media Group.

The transaction remains contingent on regulatory approval.

Styria Media Group, founded in 1869, is an Austrian media group.

Willhaben is an Austrian digital consumer marketplace with more than 3.8 million users per month.

Adevinta is an online classifieds group operating digital marketplaces.

According to Dorda, this joint venture, which combines Sprints’ extensive expertise in online marketplaces with Styria’s strong local market presence, is designed to drive the next phase of Willhaben’s growth and innovation. 

“Sprints partners with technology companies that place long-term customer happiness at the heart of everything they do – Willhaben epitomizes this philosophy,” said Sprints Managing Partner Henrik Persson. “It has one of the most recognized and beloved brands in Austria, and we’re excited to join forces with them and Styria to support the next phase of the company’s growth.” 

The Dorda team included Partners Christian Ritschka, Martin Brodey, Heinrich Kuehnert, Magdalena Brandstetter, and Christoph Brogyanyi, Principal Associates Ulrich Weinstich, Mirko Marjanovic, Julia Landskron, Magdalena Nitsche, Katrin Repic, Florina Thenmayer, and Ida Woltran, and Associates Max Lesjak, Thomas Krappinger, Corina Kruesz, Anna Martseva, Julia Moser, Maxie Muellbacher, Sophia Pux, Nicole Scharl, Julia Strass, and Antonia Stubbe.

The Freshfields team included Vienna-based Partners Ludwig Hartenau, Maria Dreher-Lorje, and Katharina Kubik, Counsels Gernot Fritz and Lukas Pomaroli, Principal Associates Ludwig Pacher-Theinburg and Andreas Langer, and Associates Tanja Pfleger and Marcel Neuhauser as well as further team members in Frankfurt and Brussels.

The E+H team included Partners Peter Winkler, Stefan Jeitler, Philipp Schrader, Dieter Thalhammer, Jana Eichmeyer, Judith Feldner, and Helmut Liebel, Attorneys at Law Felix Frommelt, William Redl, Franziska Egger, Susanna Falkenburg, and Associates Yvonne Wohlmuth, Florian Vidreis, Paul Rois, Lukas Weber, Alexandra Stadlober, and Markus Feneberger.

E+H has advised Megatech Industries on its reorganization from financial distress and subsequent sale to Italian mobility supplier Sapa. Wolf Theiss, working with Gianni & Origoni, advised Sapa.

According to E+H, the transaction marks a significant strategic move for Megatech – a major European manufacturer of plastic-based interior and exterior automotive components with approximately 1,800 employees and operations across nine production facilities in six countries – by securing a strong partner in Sapa.

Sapa is a supplier of plastic components to vehicle manufacturers such as Stellantis, Volkswagen, and BMW. According to E+H, the acquisition significantly expands Sapa’s geographical presence, particularly in Spain, Portugal, Poland, Germany, the Czech Republic, and Brazil.

The E+H team included Partners Marcus Benes, Alric Ofenheimer, Arndt Blaschka, Clemens Lanschuetzer, Judith Feldner, Christian Joellinger, Laurenz Liedermann, and Karoline Hofmann, Attorneys at Law Wolfgang Koefer and William Redl, and Associates Georg Ball, Alexander Moser, Yvonne Handler, Marcel Neuhauser, Alexander Koschell, Dilara Mamuk, Aleksandra Hübl-Langer, and Julian Tatschl.

The Wolf Theiss team included Partners Andreas Schmid, Florian Kusznier, and Ralf Peschek, Counsels Markus Aigner, Mimo Hussein, Raphael Valenta, and Eva Stadler, Consultant Karin Spindler-Simader, and Associate Philip Richter.

Cerha Hempel has advised OMV on a partnership with Abu Dhabi National Oil Company to create Borouge Group International.

According to Cerha Hempel, under the agreement, OMV and Abu Dhabi National Oil Company will combine Borealis and Borouge to form a new global polyolefins group with headquarters in Vienna and regional headquarters in Abu Dhabi. As part of the transaction, ADNOC will acquire all shares in Canadian company NOVA Chemicals at an enterprise value of USD 13.4 billion, with a subsequent transfer to the new group. Borouge Group International is set to be listed on the Abu Dhabi Securities Exchange, with an intended dual listing on the Vienna Stock Exchange, subject to regulatory approvals.

The Cerha Hempel team included Managing Partner Clemens Hasenauer, Partners Johannes Prinz, Benjamin Twardosz, Lorenz Pracht, and Harald Stingl, Attorneys at Law Tobias Tangl and Christoph Schimmer, and Associates Hannah Gerbl and Alexander Kainz.

Cerha Hempel could not provide additional information on the matter.

Baker McKenzie has advised Burgenland Energie Group on structuring and implementing a EUR 1.3 billion portfolio project financing for renewable energy expansion. Binder Groesswang, working with Hogan Lovells, advised the banks.

Burgenland Energie Group is an energy provider in Burgenland, Austria.

According to Baker McKenzie, the transaction involved corporate restructuring and equity financing – marking the entry of the state of Burgenland as a majority investor in an indirect subsidiary of Burgenland Energie as part of a joint venture. In parallel, financing was secured from financial institutions including the European Investment Bank, Erste Bank, Landesbank Baden-Wuerttemberg, Raiffeisen Bank International, UniCredit, and institutional investors such as Wiener Staedtische and Ampega, which provided up to EUR 500 million in debt capital in the first round.

Moreover, Baker McKenzie reports that the debt will fund the construction of wind and photovoltaic projects in Burgenland, with the first phase targeting over 700 megawatts and future stages planned to reach up to 2,000 megawatts, supported by additional credit lines of approximately EUR 725 million.

The Baker McKenzie team included Austria-based Partners Eva-Maria Segur-Cabanac, Robert Wippel, Andreas Traugott, and Georg Diwok, Counsels Philipp Stanek, Edmund Schuster, and Wolfgang Eigner, and Associates Filip Peric, Clara Fercsak, Sophie Schubert, Balint Ozsvar, and Elias Parzer as well as further team members in London and Frankfurt.

The Binder Groesswang team included Managing Partner Stefan Tiefenthaler, Partners Regina Kroell and Mona Holzgruber, Attorney at Law Mathias Drescher, and Associates Philipp Schermer, David Schneebauer, Tobias Haralter, and Anian Gruber.

The government programme of the three-party coalition for the years 2025-2029 has been established. In the field of energy law, long-awaited legislation such as the Electricity Industry Act (ElWG), the Renewable Gas Act (EGG) and the Renewable Expansion Acceleration Act (EABG) are set to be enacted.

One of the major challenges for the new government will be the ramp-up of a hydrogen economy in accordance with the new EU Gas Market Directive. However, the government programme contains only a few concrete details on this matter.

On a positive note, the continuation of subsidies for the transformation of the industry is assured, aligning with the newly published EU Clean Industrial Package, released by the European Commission on 26 February 2025. (Read our Legal Insight on the Package here.)

In this Legal Insight, we present selected points from the energy sector, incorporating some comments from a practical perspective:

Electricity

Governmental proposal and plans:

Unlocking energy community potential for large enterprises: The government seeks to offer large enterprises access to competitive prices through energy community participation, while also evaluating existing privileges for these communities.

Comments from legal and regulatory perspectives:

While energy communities are primarily nonprofit and typically exclude established energy companies, larger businesses can still benefit in practice. However, choosing the right community model, participation form and legal structure is essential and challenging at the same time. It remains to be seen whether, and to what extent, existing community entry barriers for large enterprises (e.g. the participation ban with regard to renewable energy communities and the “no-control” requirement for citizen energy communities) will be lifted. In this context the law makers will need to take account of “red lines” set by the RED III and Electricity Market Directive. Against this background, the government might think of new types of energy communities, such as peer-to-peer/energy sharing concepts or direct Power Purchase Agreement (PPA) structures.

Governmental proposal and plans:

Revamping the Renewable Energy Expansion Act (EAG): Market premiums will undergo review, paving the way for the introduction of Contracts for Difference.

In addition, the government plans to introduce eco-social criteria for eligibility to receive subsidies under the EAG.

Comments from legal and regulatory perspectives:

Notably, the existing EAG regime already provides (two-sided) CfD components in relation to large wind farms and photovoltaics. It is therefore unclear what the new government is planning to adjust in terms of EAG market premiums. For example, the CfD mechanism could be extended to smaller plants and technologies not yet addressed by the CfD mechanism. In any case, the interest of entering into PPAs will likely remain unchanged or, ideally, become increasingly vital. (To find out more about our energy capabilities, including with regard to PPAs, click here.)

Governmental proposal and plans:

Measures for more affordable energy: energy companies should place greater emphasis on public interest in affordable energy.

An expert group will be formed to drive price reductions, particularly through reforms to levies and grid tariffs.

Additionally, the Electricity Energy Crisis Contribution measure and the Fossil Energy Crisis Contribution measure will be extended.

Comments from legal and regulatory perspectives:

The government aims to set corporate governance rules according to which the management of energy companies can take account of the public interest in affordable energy when doing business and setting business strategies. This governmental plan appears to be triggered by recent discussions on price setting and trading strategies of utility companies (who were accused of pursuing strategies that resulted in high energy prices for customers in times of energy crisis). However, it should be clear that the management needs to continue to focus on the welfare of the company, ensuring its long-term profitability.

Heating

Governmental proposal and plans:

Boosting the geothermal sector: The government plans to set clear expansion targets and offer subsidies to reduce the risk of “failed” drilling. Long-awaited revisions to the Mineral Resources Act and the Water Rights Act are also on the way.

Comments from legal and regulatory perspectives:

The right to dispose of and use foreign properties at great depths without affecting the near-surface area currently presents legal hurdles for the expansion of geothermal energy.

Governmental proposal and plans:

Decarbonising the heating sector: The new government aims to phase out fossil fuels in heating and emphasises the crucial role of local heating plans, particularly in relation to the decommissioning of gas grids and the expansion of district heating.

Comments from legal and regulatory perspectives:

Large municipalities will soon be required to implement local heating and cooling plans according to the Energy Efficiency Directive. These plans will be pivotal for investments in heating grids, the development of contracting models and the integration of excess heat into existing systems.

Additionally, the new government will likely aim to establish third-party access to large district heating systems, as mandated by the Renewable Energy Directive.

Renewable Gas

Governmental proposal and plans:

Adoption of the Renewable Gas Act (EGG): The promotion of green gas will be supported through market premiums (rather than by setting a green gas quota for suppliers, as initially planned under the EGG which finally failed under the former government). This would mean a support mechanism for green gases like the EAG premiums for renewable electricity.

The government has set an ambitious target to expand green gases by 6.5 TWh each year until 2030.

Comments from legal and regulatory perspectives:

The future of green gas promotion offers a valuable investment opportunity. From a legal perspective, project designs and CfD concepts must comply with state aid regulations. Moreover, green gas production would need to comply with the RED sustainability and greenhouse gas reduction criteria.

It remains uncertain whether a 6.5 TWh annual expansion is feasible. Any obligations related to this target could be challenged from a constitutional law perspective.

CO2-emission reduction

Governmental proposal and plans:

Reaching net-zero with carbon management: The new government plans to lift the ban on geological CO2 storage in Austria and create a framework for Bioenergy Carbon Capture and Storage (BECCS). In this context, the establishment of a CO2 pipeline infrastructure is being considered. Carbon Capture and Storage (CCS) and Carbon Capture and Utilisation (CCU) will play a key role in reducing emissions in hard-to-abate sectors.

Adoption of a Climate Act: One of the aims of the Climate Act is to create an “interministerial steering group”, which is to draw up a “climate roadmap” in addition to other tasks. This will act as a planning instrument and will include measures by the federal government and the federal states to achieve the goal of climate neutrality by 2040.

Comments from legal and regulatory perspectives:

The introduction of CCS and CCU offers companies in hard-to-abate sectors a way to reduce emissions.

Clear guidelines and standards are needed to ensure effective and safe deployment, along with incentives for adoption. The development of this framework will be key to the success and widespread use of CCS and CCU in reducing industrial emissions.

The interministerial steering group appears to be an interesting idea. However, allocating competencies and decision rights to such a steering group could be in conflict with constitutional law.

Mobility fuels

Governmental proposal and plans:

Technological-openness and innovations in fuels: the government programme emphasises openness to all technologies that could enhance ecological drivinge solutions, with hydrogen and e-fuels as components for the future of transport and mobility.

Comments from legal and regulatory perspectives:

Demand for renewable hydrogen, particularly hydrogen-based fuels, is expected to increase. Producers of renewable fuels of non-biological origin (RFNBO) must adhere to strict conditions and methodologies outlined in the Renewable Energy Directive and its Delegated Acts.

Conclusion

The Austrian government’s new programme for 2025-2029 sets a transformative agenda for the energy sector, with significant legal implications. The enactment of the Electricity Industry Act and the Renewable Gas Act, along with measures to promote affordable energy, geothermal expansion and the transition to a hydrogen economy, mark critical steps forward. However, the success of these initiatives will depend on the effective implementation of regulatory frameworks, compliance with state aid and sustainability criteria and the ability to navigate constitutional challenges.

By Bernd Rajal, Partner, and Patrick Barabas, Associate, Schoenherr

On 26 February 2025, the European Commission (EC) unveiled the Clean Industrial Deal (CID), a comprehensive strategy aimed at enhancing the competitiveness and resilience of European industry while accelerating decarbonisation. In response to high energy costs and increasing global competition, the CID positions decarbonisation as a key driver of growth, ensuring that Europe remains a hub for industrial innovation and production. By reducing bureaucratic hurdles, promoting clean technology and securing financing for the green transition, the initiative strengthens critical sectors such as energy-intensive industries and clean tech.

Access to affordable energy

Ensuring access to affordable energy is a fundamental pillar of the CID. According to the EC, structural inefficiencies in the energy market, including inadequate grid infrastructure and limited system integration, contribute to elevated costs. To address these challenges, the EU aims to accelerate electrification, enhance energy efficiency and complete the internal energy market through stronger interconnections. The newly adopted Action Plan for Affordable Energy introduces measures to lower energy costs for businesses and households while advancing structural reforms. Key initiatives include financial incentives for clean energy production, improved regulatory frameworks, and increased digitalisation of energy systems to enhance grid management and flexibility.

A central focus of the plan is to lower electricity costs by introducing tariff methodologies that support flexible grid usage, expanding Power Purchase Agreements (PPAs) and implementing Contracts for Difference. The European Investment Bank will launch a EUR 500m pilot programme to counter-guarantee corporate PPAs, ensuring long-term energy security for industrial users. Additionally, the EU will streamline permitting processes for renewable energy projects via the upcoming Industrial Decarbonisation Accelerator Act (IDAA) (including tacit approvals in so-called acceleration areas) and introduce a European Grid Package to strengthen infrastructure and support Member States in decoupling the translation of gas into electricity prices. Measures will also be taken to ensure a well-functioning gas market, preventing price manipulation and improving regulatory oversight by aligning and strengthening MiFID/REMIT.

Lead markets: boosting clean supply and demand

The CID aims to create strong lead markets for European clean technologies and decarbonised products, ensuring a solid business case for investment in sustainable industries. Measures such as the implementation of the Industrial Carbon Management Strategy will support the creation of a market for captured carbon, ensuring its integration into a broader range of products and facilitating permanent carbon removals.

Public and private procurement policies will be key drivers of demand, with the IDAA introducing sustainability and resilience criteria. Following the same line, the EC plans to revise the EU’s Public Procurement Framework in 2026, integrating non-price criteria to prioritise sustainability and European production. A voluntary carbon intensity label for industrial products will be developed, starting with steel in 2025, ensuring transparency and enabling targeted incentives.

Moreover, to accelerate the decarbonisation of the energy system, the EC will adopt the delegated act on low carbon hydrogen in Q1 2025, clarifying the rules for producing low carbon hydrogen. Beyond that, the EC will launch a third call under the European Hydrogen Bank in Q3 2025 with a budget of up to EUR 1bln and a Hydrogen Mechanism in Q2 2025 linking participants with financing.

Public and private investments

According to the EC, the clean transition of the EU economy requires significant investment. Mobilising private capital will be crucial, necessitating long-term regulatory stability, public incentives and effective policy coordination. Building on the EU budget’s role in supporting the Green Deal, the next Multi-annual Financial Framework (MFF) is determined to play a key role, with the planned Competitiveness Fund streamlining access to funding and prioritising high-impact projects such as clean tech and industrial decarbonisation. To provide immediate capital, the CID will mobilise over EUR 100bln, including an additional EUR 1bln in guarantees under the current MFF. The EU will also enhance financing tools, such as the Innovation Fund and the yet to be proposed Industrial Decarbonisation Bank, to maximise emission reductions and attract private investment. Additionally, the new Clean Industrial Deal State Aid Framework plans on simplifying approval processes and offering long-term predictability for sustainable projects, while tax incentives would encourage businesses to invest in decarbonisation.

Powering the circular economy

To strengthen Europe’s resource security and reduce reliance on unstable suppliers, the CID plans on strategically procuring raw and secondary materials while prioritising circularity. Key measures are the swift implementation of the Critical Raw Materials Act and the forthcoming Circular Economy Act (2026), which is expected to harmonise markets for secondary materials, improve waste-to-resource conversion, and mandate recycled and bio-based material use. Cooperation through Trans-Regional Circularity Hubs would enhance recycling capacity, while regulatory reviews would support market incentives.

Global markets and international partnerships

Clean Trade and Investment Partnerships are set to complement existing Free Trade Agreements, facilitating access to critical resources, clean technologies and investment opportunities. The EC also plans to launch a Trans‑Mediterranean Energy and Clean Tech Cooperation initiative, fostering large-scale renewable energy investments. To enhance carbon pricing and global decarbonisation efforts, the CID envisages refining the Carbon Border Adjustment Mechanism (CBAM), reducing administrative burdens while considering its expansion to additional sectors and emissions.

Implementation across sectors

The CID aims to establish a structured dialogue with industries to develop sector-specific transition pathways that guide investment decisions and mobilise capital for a cleaner, more competitive industrial landscape. The Industrial Action Plan for the Automotive Sector, scheduled for adoption on 5 March 2025, and the Steel and Metals Action Plan, set to launch on 4 March 2025, should be mentioned here. Additionally, the Chemicals Industry Package, expected by late 2025, and a Sustainable Transport Investment Plan, aimed at accelerating the shift to renewable and low-carbon fuels while expanding recharging infrastructure, should also be included. Furthermore, a Bioeconomy Strategy will promote bio-based materials to reduce fossil dependencies. The European Ocean Pact will drive innovation in blue clean tech and circular economy practices.

Key takeaways

Affordable energy access: Measures such as market reforms, renewable energy expansion and a EUR 500m pilot programme for Power Purchase Agreements (PPAs) should lower energy costs and improve energy security.

Boosting clean lead markets: Policies like the Industrial Carbon Management Strategy, the Hydrogen Bank expansion and revised public procurement rules should drive demand for sustainable products and technologies.

Mobilising public and private investment: Over EUR 100bln in immediate funding and streamlined state aid rules should accelerate industrial decarbonisation and innovation, with tax incentives supporting long-term investments.

Advancing the circular economy: New regulations, including the Critical Raw Materials Act and Circular Economy Act (2026), should enhance recycling, reduce material dependencies and promote sustainable manufacturing.

Global market integration: Trade partnerships, the Trans-Mediterranean Energy and Clean Tech Cooperation Initiative and a refined Carbon Border Adjustment Mechanism (CBAM) should ensure fair competition and secure critical supply chains.

Sector-specific transition plans: Tailored strategies for industries such as automotive, steel, chemicals and transport should align industrial transformation with Europe’s climate and economic goals.

By Bernd Rajal, Partner, and Maximilian Klein, Moritz Ublagger, Patrick Barabas, Associates, Schoenherr

Freshfields has advised Biotronik Group on an agreement to divest its Vascular Intervention division to Teleflex Incorporated.

The transaction remains contingent on regulatory approvals.

Biotronik Group is a medical technology company based in Berlin.

Teleflex Incorporated is a medical technology provider.

The Freshfields team included Vienna-based Counsel Lukas Pomaroli as well as further lawyers in Frankfurt, Berlin, Hamburg, Duesseldorf, Munich, Amsterdam, Paris, Brussels, Ho Chi Minh City, Hong Kong, Madrid, Milan, New York City, Shanghai, Tokyo, and Washington.

Freshfields did not respond to our inquiry on the matter.

Harald Strahberger has joined Kinstellar as Partner in Vienna.

According to the firm, Strahberger’s addition “strengthens our public law and regulatory capabilities, further enhancing the firm’s expertise in Austria and across the wider Central and Eastern European region.”

Prior to joining Kinstellar, Strahberger was with Wolf Theiss, first as an Attorney at Law between 2020 and 2022 and then as a Counsel between 2022 and 2025. Earlier, he worked for Heid und Partner as an Attorney at Law between 2019 and 2020, as well as for BPV Hugel as an Attorney at Law between 2017 and 2019, and with EY Law – Pelzmann Gall as an Attorney at Law between 2016 and 2017. Earlier still, he had another stint with BPV Huegel, as an Associate between 2010 and 2015 and an Attorney at Law between 2015 and 2016.

Kinstellar launched its Vienna office this year, with former Wolf Theiss Partner Horst Ebhardt at its helm (as reported by CEE Legal Matters on January 6, 2025) and the office was joined by Philipp Kapl as Partner shortly thereafter (as reported by CEE Legal Matters on February 7, 2025).

“We are delighted to welcome Harald to Kinstellar,” said Firm Managing Partner Kristof Ferenczi. “His deep regulatory expertise, particularly in energy and environmental law, combined with his strong public law experience, will be a significant asset to our firm and our clients.”

“I am excited to join Kinstellar at this essential moment, as the firm sets up its footprint in Austria,” added Strahberger. “Kinstellar’s regional reach and dynamic approach provide an excellent platform for delivering strategic legal counsel in complex regulatory matters. I look forward to contributing to the firm’s growth and working alongside a talented team to support our clients in Austria and the wider region.”

E+H has advised Podero on its EUR 5.5 million seed financing round led by German GreenTech fund Planet A Ventures, with co-investment from Systemiq Capital, and participation from Swedish VC Pale Blue Dot and Austrian VC PUSH Ventures. Dorda reportedly advised Planet A Ventures.

According to E+H, Podero is a Viennese climatetech and renewable energy startup that is developing software that helps energy suppliers reduce costs on flexible appliances by over 25% and plans to leverage the financing to expand its software, team, and customer base.

The E+H team included Partner Steve Jeitler and Attorney at Law Susanna Falkenburg.

Fellner Wratzfeld & Partner has advised approximately 38% of the creditors in the restructuring proceedings of Pierer Industrie on a vote under the Restructuring Ordinance in Austria.

According to FWP, on February 20, 2025, the creditors successfully accepted the restructuring plan of the KTM parent company, along with agreed collateralization measures. This was the first restructuring plan vote in Austria since the law came into force in 2021 to address corporate financial crises.

The FWP team was led by Partner Markus Fellner.