Category: Austria

Felix Kernbichler has joined GoStudent as its Chief Legal Officer in January 2022.

Kernbichler was previously an Attorney at Law with Herbst Kinsky, a firm that he first joined as an Associate in 2017.

“At the beginning of 2022, I founded my own private practice in Vienna and started to support GoStudent as Chief Legal Officer,” Kernbichler explained. “In this position, I will advise on all financings and acquisitions as well as various other legal and strategic matters. Having advised GoStudent on all financing rounds and acquisitions since 2018, I am very happy to support now in a much more involved role. Considering the incredible untapped potential in education, I am sure GoStudent’s phenomenal growth was only the beginning and there is much more to come.”

In July 2020, CEELM interviewed GoStudent CEO Felix Ohswald on the company’s EUR 8.3 Million financing round here.

Originally reported by CEE In-House Matters.

BPV Huegel advised Immofinanz on competing takeover bids by the CPI Property Group and S Immo, while Schoenherr advised Immofinanz’ supervisory board. Wolf Theiss reportedly advised CPI on the acquisition.

Immofinanz is a commercial real estate group whose activities are focused on the office and retail segments of core markets in Central and Eastern Europe, with a real estate portfolio worth approximately EUR 5 billion.

CPI is a real estate company in Central and Eastern Europe with a real estate portfolio worth approximately EUR 11.2 billion.

According to BPV Huegel, “CPI set the start in December 2021, announcing an anticipatory mandatory offer for all shares and convertible bonds of Immofinanz. CPI’s stake (together with an agreed block acquisition) was already around 32% at that time. S Immo, which also holds a stake in Immofinanz, subsequently published a competing partial offer to increase its stake by 10% at a higher offer price. By means of a further block acquisition and an agreement with S Immo to sell its stake, CPI completed its offer with an increased offer price, from EUR 21.2 to EUR 23, with the acquisition of a majority stake in Immofinanz in March 2022.”

Schoenherr’s team included Partner Sascha Hoedl and Counsel Sascha Schulz.

BPV Huegel’s team was led by Partner Christoph Nauer and included Partners Daniel Reiter, Astrid Ablasser-Neuhuber, and Nicolas Wolski and Attorneys Roland Juill, Johannes Mitterecker, Sebastian Reiter, and Barbara Valente.

Taylor Wessing has advised Trustology on its exit to Bitpanda.

According to Taylor Wessing, “as a result, the FCA-registered Trustology will be rebranded as Bitpanda Custody with the clear focus on offering a secure, sophisticated and compliant, institutional-grade crypto custody platform for all customers. Bitpanda Custody will initially take custody of Bitpanda’s own assets across its retail, institutional and whitelabelling businesses, which will make Bitpanda Custody one of the largest digital assets custody providers globally.” 

According to the firm, “Bitpanda Custody will be able to perform custodian services in the UK alongside Bitpanda’s existing licenses in the European Union, while significantly expanding the range of services provided to customers and partners. The introduction of Bitpanda Custody is the first step in launching a Prime Brokerage offering under Bitpanda Pro to go alongside the regulated digital asset exchange.”

Taylor Wessing’s team was led by London-based Partner Howard Palmer and Senior Associate Ed Chapman.

Taylor Wessing did not reply to our inquiry on the matter.

Fellner Wratzfeld & Partner has advised Soravia on its acquisition of a stake in Hospiz am Arlberg.

Soravia is a real estate group operating in Austria and Germany. The company focuses on the lines of business of quarter development, privately financed and public housing construction, office buildings, and hospitality.

Hospiz am Arlberg is a hotel located in Tyrol, Austria.

“Through its hospitality division Soravia aims to acquire investments in special tourist offers in Austria and abroad,” Fellner Wratzfeld & Partner informed. “Nothing will change in the management of this iconic tourist destination at the top of the Arlberg pass. The operational business will remain in the hands of the owners. Rather, Soravia wants to use synergies and maintain a prosperous partnership. The existing know-how of the legendary business will remain in place and enhanced through that of Soravia’s hospitality division and is intended to serve the future commercial development of this traditional enterprise.”

The Fellner Wratzfeld & Partner team was led by Partner Markus Fellner and included Partners Lukas Flener and Michael Hecht and Attorneys Roswitha Seekirchner, Peter Stiegler, Mario Burger, Martin Navara, Elisa Maria Kaplenig, and Josef Peer.

Fellner Wratzfeld & Partner did not respond to our inquiry on the matter.

Herbst Kinsky has advised Neoh Invest on its acquisition of a majority stake in Neoh USA.

According to the firm, “Neoh wants to revolutionize the global confectionery market as an innovative food technology company. The company is focusing on the megatrend of sugar reduction. With the currently most innovative sugar replacement formula on the market and a strong brand, the company wants to become the top player in a multi-billion market.”

Neoh is a Vienna-headquartered company producing confectionery products.

The Herbst Kinsky team was led by Attorney-at-Law Johannes Frank and included Associate Christoph Renner.

Herbst Kinsky did not respond to our inquiry on the matter.

Cerha Hempel has advised Stadler Rheintal on its successful participation in OBB’s tendering process for up to 186 new double-decker trains.

According to Cerha Hempel, “the Austrian Federal Railways (OBB) has placed an order with Stadler for up to 186 new double-decker trains under a framework agreement with a ten-year term. Stadler will supply four, five, and six-car double-decker multiple-unit KISS trains. In total, the contract is valued at up to EUR 3 billion.”

Stadler Rail is a Swiss manufacturer of railway rolling stock, with an emphasis on regional train multiple units and trams.

Cerha Hempel’s team included Partners Georg Konrad and Stefan Huber, Senior Associate Wolfgang Schreiner, and Associates Simona Dabeskovic and Michaela Kober.

PHH has advised Drees & Sommer on the acquisition of Vienna-based Die Werkbank IT. Germany-based Greenfort and Schoenherr reportedly advised the sellers on the deal.

Drees & Sommer is a real estate consulting and planning company.

Die Werkbank IT provides software solutions for architects, planners, and the construction material industry.

The PHH team included Partners Rainer Kaspar, Nicolaus Mels-Colloredo, and Julia Fritz, Counsel Philip Rosenauer, and Associates Michael Lins, Dominic Zehetgruber, and Ramona Maurer.

Schoenherr has advised Herba Chemosan Apotheker and its management board on the management buy-out of the company. Herbst Kinsky, working with Linklaters, advised previous majority shareholder McKesson Corporation on the sale of its Austrian business to Quadrifolia Management through the MBO. SCWP Schindhelm has advised private equity company Invest AG on participating in the acquisition. Wolf Theiss advised the financing banks led by Raiffeisen Banking Group Upper Austria.

“In the course of the MBO, the previous majority shareholder of Herba Chemosan, McKesson Europe, is withdrawing from the Austrian market and the three board members of the Austrian pharmaceutical wholesaler are taking over the majority of the company,” Schoenherr announced. “A joint company consisting of the management board members – Andreas Windischbauer, Andreas Janka, and Maximilian von Kunsberg Sarre – and private equity company Invest AG acquired the shareholding from McKesson.”

According to Linklaters, “the transaction was successfully completed on January 31, 2022, and marks another milestone for McKesson to streamline their portfolio and to implement their strategy to exit the European market. In this context, McKesson has agreed to sell most of its business in Europe last year and is currently examining suitable exit alternatives for its businesses in Norway and Denmark.”

Founded in 1916, Herba Chemosan is an Austrian pharmaceutical wholesaler and service provider. With seven logistics centers throughout Austria, Herba Chemosan operates a distribution network for pharmaceuticals and healthcare products. Together with its subsidiaries Sanova and Aewige, Herba Chemosan employs around 900 people.

The McKesson Corporation is a US-based company specializing in healthcare supply chain management solutions and retail pharmacy.

Invest AG is an Austrian investment company.

The Schoenherr team was led by Partner Thomas Wenger and Attorney-at-Law Sigrun Adrian-Waltner and included Partners Hanno Wollmann, Martin Ebner, and Peter Feyl, Attorneys-at-law Evelin Hlina and Mate Kovacs, and Associates Viktoria Stark and Eugen Georg Maresch.

The Herbst Kinsky team was led by Attorney-at-Law Phillip Dubsky and included Attorney-at-Law Sonja Hebenstreit and Associates Georg Durstberger, Carmen Walser, and Angelika Kurz.

The SCWP Schindhelm team was led by Partner Franz Mittendorfer and included Partner Sebastian Hutter and Lawyers Dieter Duursma and Thomas Rosenthaler.

The Wolf Theiss team was led by Partner Andreas Schmid and included Partners Hartwig Kienast, Gunter Bauer, Karl Binder, and Leopold Hoeher, Counsels Christine Siegl, Eva Stadler, and Paulina Pomorski, Senior Associate Markus Aigner, and Associate Carolina Weber.

The Linklaters team was led by Frankfurt-based Partner Jochen Laufersweiler and Managing Associate Andrea Pecina and included Partners Michael Leicht and Christian Hundeshagen, Managing Associates Atif Wolfgang Bhatti and Sascha Konwalski, and Associates Tillmann Schoeller, Johannes Thieme, and Julia Grimm as well as Dusseldorf-based Partner Daniela Seeliger and Managing Associate Tobias Rump and Hamburg-based Managing Associate Tim Nobereit.

E+H, working with Willkie Farr & Gallagher, has advised the Stark Group on its acquisition of Dach & Wand Handels GmbH from the Swisspearl Group. Taylor Wessing advised the seller.

The parties have not disclosed details of the transaction which is still subject to regulatory approval.

E+H describes the Stark Group as “a leader in sales and distribution of building materials, service, and advice for the building and construction industry in the Nordic countries and Germany.”

According to E+H, “with seven branches in Austria’s largest cities, Dach & Wand Handels is among Austria’s leading companies in the sale and distribution of heavy building materials and serves more than 3,200 professional craftsmen.” 

E+H’s team included Partners Philipp Schrader, Peter Winkler, Dieter Thalhammer, Ulrike Sehrschoen, Helmut Liebel, Laurenz Liedermann, and Karolin Andreewitch-Wallner, Counsel Stefan Jeitler, and Associates Anna Talos, William Redl, Daniel Metz, Titus Kahr, Maximilian Kroepfl, Christian Cacic, and Sophie Pfitzner.

Taylor Wessing’s team included Partners Raimund Cancola, Claudia Steegmueller, Andreas Schutz, Martin Eckel, Peter Solt, and Martin Prohaska-Marchried.

Herbst Kinsky has advised Ribbon Biolabs on its EUR 18 million Series A financing round. Brandl Talos advised lead investor Hadean Ventures.

Existing investors Lansdowne Partners, Helicase Venture, IST Cube, and Tecnet Equity also participated in the financing round.

According to Herbst Kinsky, “the company intends to use the new capital to commercialize its DNA synthesis technology, which integrates combinatorial optimization algorithms to guide the automated enzymatic assembly of DNA.”

Founded in 2018 in Vienna, biotech start-up Ribbon Biolabs is a synthetic biology company, focusing on subgenomic size synthetic DNA as a component for development in biopharmaceutical research.

Hadean Ventures is a European life science venture capital fund manager with around EUR 200 million in assets under management.

“Synthetic biology is about to disrupt the biopharmaceutical and other life science industries by overcoming previous limitations with new genetic technologies,” Hadean Ventures Managing Partner Walter Stockinger commented. “We are excited to support Ribbon Biolabs in its mission to fully automate long DNA synthesis through its novel and proprietary approach and to become an important player in this new field of biology.”

The Herbst Kinsky team was led by Partner Philipp Kinsky and Attorney-at-Law Carl Walderdorff and included Attorney-at-Law Christina Bernhart.

The Brandl Talos team was led by Partner Roman Rericha and included Attorney-at-Law Stephan Strass and Associates Elena Ciresa and Celine Dobnikar.