Category: Austria

Austrian lawyers Ludwig Hartenau and Maria Dreher are among 22 members of Freshfields’s 22-strong global partnership promotion round.

Hartenau, who is a member of Freshfields’ Global Transactions practice, joined the firm in 2006, and obtained his J.D. from the University of Vienna in 2007. According to Freshfields, he focuses on “private and public M&A transactions, reorganizations of corporate structures, and joint ventures, particularly for financial institutions.

He has considerable experience with cross-border and highly complex transactions. While being active mainly in the financial services sector, Ludwig also has considerable knowledge of the automotive, retail and family-owned business sectors. His analytical understanding and hands-on approach help clients to achieve their ambitions and get the deal through.

Ludwig’s experience includes corporate governance issues and equity capital markets transactions.

On LinkedIn, he declared himself “very happy, humbled and proud to have been appointed as a partner of this fantastic firm. It‘s a great honor and privilege and I am very much looking forward to contributing to shaping our future.”

Dreher, who specializes in Antitrust, Competition and Trade, heads the firm’s Austrian Antitrust practice, and divides her time between Vienna and Brussels. She graduated from the University of Vienna in 2008, and joined Freshfields in 2010.

Commenting on the promotions, Freshfields Senior Partner Georgia Dawson said, “I am delighted to welcome such a strong group of colleagues to Freshfields’ global partnership. Our new partners bring diverse thinking, backgrounds and experience to our partnership, all critical to helping our clients navigate the ongoing complexities of the legal and business landscape. The promotion of our new partners reflects the firm’s focus on diversity over several years and I look forward to working with each of them as we continue to build our firm for the future.”

Like all 22 new partners in the round, Hartenau’s and Dreher’s promotions become effective on May 1, 2021.

Binder Groesswang has advised Deutsche Beteiligungs AG and its portfolio company Fast Lean Smart Group GmbH on their acquisition of Impactit GmbH. Bird & Bird reportedly advised Deutsche Beteiligungs as well, and KPMG Law reportedly advised the unidentified seller.

Impacit sells the Portatour software that enables field sales staff to organize their appointments and routes individually via a web.

Deutsche Beteiligungs is Frankfurt-based private equity fund that invests in medium-sized companies the automotive supplies, machine and plant construction, printing, media, and packaging, industrial services and logistics, and measuring and automation technology sectors.

According to Binder Groesswang, “together with another investment of Fast Lean Smart Group, the companies will become the Solvares Group, a European software house for the logistics industry.”

Binder Groesswang’s team consisted of Partners Stefan Tiefenthaler and Gottfried Gassner, Senior Associate Mona Holzgruber, and Associate Patrick Mayrhuber.

Bird & Bird’s team included Partner Hans-Peter Leube and Counsel Marianne Nawroth.

KPMG Law’s team consisted of Partner Wendelin Ettmayer and Senior Associate Pablo Essenther.

Jank Weiler Operenyi, the Austrian member of Deloitte Legal, has advised the Kruger Group, the minority shareholder in soda maker manufacturer Sodapop Austria GmbH, on the acquisition of the remaining shares of the company from BAST Unternehmensbeteiligungs GmbH and ROHE Vertriebsmanagement und BeteiligungsgmbH. Austria’s Berger Ettel law firm reportedly advised the sellers.

Jank Weiler Operenyi advised the Kruger Group on its acquisition of a minority stake in Sodapop in June, 2020.

According to Deloitte Legal, “with the takeover of all shares in the Austrian soda maker in March 2021, the Kruger Group is now consolidating its position in this area. The food manufacturer based in Bergisch Gladbach is already the European market leader for instant products such as soluble tea, coffee, and cocoa specialties.”

The Jank Weiler Operenyi team consisted of Partners Alexander Operenyi and Stefan Zischka, Counsel Johannes Lutterotti, and Senior Managing Associate Richard Henny.

Ingo Braun and Markus Schifferl have joined BPV Huegel in Vienna.

According to BPV Huegel, Braun will strengthen the firm’s Financing & Regulatory practice and will help establish its Insurance department, while Schifferl will co-lead the firm’s Dispute Resolution practice with Co-Managing Partner Florian Neumayr. 

Ingo Braun specializes in financing transactions, financial market regulation, insurance law, and restructurings. He began his career at the Baier Bohm law firm in 2006, where he spent six years. He moved to Specht & Partner in 2012, then in 2015 to Benn-Ibler, where he was before this move. He graduated from the University of Vienna. 

“With Ingo Braun, we are gaining a lawyer with 20 years of experience in financing transactions and financial market regulation, and with him we are also focusing on a new area of expertise in insurance law,” commented Christoph Nauer, Co-Managing Partner of BPV Huegel. 

“I am looking forward to the great common challenge at BPV Huegel to shape financing & regulatory practice nationally and internationally and to build up a new area,” said Braun. 

Markus Schifferl’s areas of expertise are international and domestic arbitration, as well as corporate and commercial disputes before national courts in the areas of plant engineering, construction, technology, energy related matters, competition law, joint-ventures, corporations and private foundations, as well as post-M&A disputes.

At the beginning of his career in 2003, Schifferl spent nearly a year as Associate at BPV Huegel. He spent from 2005 to 2007 with Schoenherr, then moved to the Torggler Law Firm, where he stayed for nearly nine years. Schifferl moved to Zeiler Floyd Zadkovich in 2015, where he stayed until rejoining BPV Huegel in March 2021. He obtained his Juris Doctor at the University of Vienna in 2006.

“We are very pleased to have such an excellent and experienced partner join our team,” said Florian Neumayr. “Markus Schifferl’s expertise is a perfect fit for the entire firm [and the] dispute resolution once again proves to be one of the strongest growing areas at BPV Huegel.”

“I am excited to join BPV Huegel, a firm known for its quality leadership, to help shape the dispute resolution practice nationally and internationally,“ commented Markus Schifferl.

Herbst Kinsky has advised Viennese start-up GoStudent on its EUR 70 million Series B investment round, which included existing investors Left Lane Capital and DN Capital as well as New York fund Coatue. Goodwin and Schoenherr advised Left Lane, and Cooley and Wolf Theiss reportedly advised Coatue.

According to Herbst Kinsky, GoStudent, which was founded in 2016, “has developed a novel learning platform for providing online tutoring.” According to the firm, “the tutoring is held live in a virtual classroom and booked in a subscription package. So far, GoStudent is active in ten European countries, with more than 250,000 booked tutoring hours per month. This year five more markets are to be opened up.”

Herbst Kinsky’s team was by Partner Florian Steinhart with the support of Attorney Felix Kernbichler.

Schoenherr’s team included Partner Thomas Kulnigg and Associate Dominik Tyrybon.

Godwin’s team was led by Frankfurt-based Partner Gregor Klenk.

Binder Groesswang and White & Case advised Verbund AG on their issuance of innovative green and sustainability-linked notes with a volume of EUR 500 million. Schoenherr and Linklaters advised BofA Securities and J.P. Morgan in their capacities as joint ESG structuring agents and joint bookrunners, as well as Erste Group, Morgan Stanley, and Societe Generale in their capacities as Joint Bookrunners.

Verbund is an Austrian electricity company that is one of the largest producers of electricity from hydropower in Europe. Close to 100% of Verbund’s electricity generation comes from renewable hydropower.

According to Binder Groesswang, “the notes combine the feature of environmentally sustainable use of proceeds with a coupon step-up linked to company-wide sustainability goals. According to the firm, “the notes have a twenty-year-term and a coupon of 0.900% and are linked to clearly defined sustainable targets: (i) the newly-installed production capacity of renewable energy of hydropower, wind power and photovoltaic (PV) of Verbund AG (including its subsidiaries) reached at least 2,000 MW and (ii) the additionally installed transformer capacity of Verbund AG (including its subsidiaries) reached at least 12,000 MVA. Both sustainable targets shall be reached by 31 December 2032. If Verbund AG fails to achieve the sustainable targets by this date, the original rate of interest will be increased by 25 basis points up to the maturity date.”

In addition, Binder Groesswang reported, “Verbund AG will allocate an amount equal to the net proceeds to certain green projects. On a best effort basis, Verbund AG aims to complete such allocation within three years of the issuance of the notes. These green projects, the modernization of certain grid systems in Austria, and the refurbishment and extension of the existing Toging-Jettenbach hydropower plant in Germany comply with Verbund AG’s Green Financing Framework.”

According to Schoenherr, “the notes were successfully placed among institutional investors and were oversubscribed several times. Investors with a focus on sustainability were given preferential treatment in the allocation process and represented more than 90% of the final order book. The notes have a denomination of EUR 100,000 each and provide for a coupon step-up in case two targets set by Verbund are not achieved by the end of 2032. They are listed on the regulated market of the Luxembourg Stock Exchange as well as on the Official Market of the Vienna Stock Exchange. The rating for the notes is ‘A’ by S&P and ‘A3’ by Moody’s.

Binder Groesswang’s team consisted of Partners Emanuel Welten, Tibor Fabian, and Florian Khol, and Attorney Philipp Tagwerker.

Schoenherr’s team consisted of Lead Partner Christoph Moser, Partner Ursula Rath, and Associates Angelika Fischer and Viktoria Stark.

Linklaters’ Frankfurt-based partners Alexander Schlee and Peter Waltz led that firm’s team acting as international counsel to the joint ESG structuring agents and joint bookrunners.

White & Case’s team was led by Frankfurt-based Partner Karsten Wockener.

Binder Groesswang, working alongside lead counsel Kirkland & Ellis, has advised GTCR and Corza Health on its acquisition of TachoSil Surgical Patch from Takeda, the subsequent merger with Surgical Specialties, and the resulting founding of Corza Medical. Takeda was advised by Linklaters.

Takeda announced the divestment on September 16, 2020, and announced that it will receive “EUR 350 million in cash upon closing of the transaction, which is subject to customary legal and regulatory closing conditions.”

“This announcement continues Takeda’s strong momentum toward optimizing our portfolio for growth by delivering highly-innovative medicines and transformative care in our chosen business areas, as well as meeting our leverage targets,” commented Costa Saroukos, Chief Financial Officer of Takeda. “As we continue to streamline and simplify our portfolio, Takeda is confident that we have found the right partner in Corza Health as the next home for TachoSil. Corza Health’s expertise in healthcare, commitment to patients, customers, and employees, and resources in partnership with GTCR make it well-positioned to ensure continued patient access to TachoSil and to invest in the product over the long term for their benefit.”

Binder Groesswang’s team advising on Austrian matters consisted of Partners Thomas Schirmer, Gottfried Gassner, and Johannes Barbist, Lawyers Wolfgang Guggenberger and Regina Kroell, and Associates Pia-Alena Havel and Felix Fuith.

Kirkland & Ellis’s London-based team was led by Partners Jacob Traff, Christopher Thomas, Michael Weed, Sanford Perl, and David Higgins

Linklaters’ London-based team was led by Partners Aisling Zarraga and James Inglis and included Partners Marly Didizian, Jonas Koponen, and Thomas McGrath, and Managing Associate Rich Jones.

Brandl Talos advised a syndicate of the 42CAP, Amino Collective, Push Ventures, Air Street Capital, and VP Venture Partners funds on their investment in Allcyte. Germany’s SMP law firm advised the 42CAP fund on its participation. Herbst Kinsky advised Allcyte.

Allcyte is an Austrian biotech firm focused on functional drug testing in primary human material.

Brandl Talos’s team was led by Partner Roman Rericha and Attorney Stephan Strass, and included Senior Associate Sonam Schima and Associate Elena Ciresa.

SMP’s team was led by Associated Partner Frederik Gartner.

The Herbst Kinsky team was led by Partner Philipp Kinsky and Attorney At Law Carl Walderdorff.

Brandl Talos has advised Sportradar Group on the acquisition of sports data and video analytics platform Synergy Sports. Latham Watkins acted as US counsel to Sportradar and Niederer Kraft Frey advised on the Swiss law aspects of the deal. The sellers were represented by DLA Piper and Schellenberg Wittmer.

Synergy Sports has league-wide relationships with the NBA and Major League Baseball, as well as all of NCAA Division I women’s and men’s basketball and over 90% of NCAA Division I men’s baseball. Internationally, Synergy partners with FIBA to create the “FIBA Connected Stadium,” and provides basketball teams, leagues, and federations with a technology platform offering automated video production and graphics. 

The transaction, which remains subject to customary conditions and regulatory approvals, is expected to close in the second quarter of this year.

This deal marks the fourth transaction Brandl Talos advised Sportradar on in recent years, following the firm’s assistance on Sportradar Group’s acquisition of UK-based personalized messaging platform operator Fresh Eight (as reported by CEE Legal Matters on March 18, 2020), the sale of a stake in the company to the Canada Pension Plan Investment Board and TCV (as reported by CEE Legal Matters on July 13, 2018), and its acquisition of Optima in 2019 (as reported by CEE Legal Matters on October 24, 2019).

Brandl Talos’s team included Managing Partners Thomas Talos, Roman Rericha, and Markus Arzt and Attorney Stephan Strass.

Niederer Kraft Frey’s team reportedly included Partner Patrik Peyer and Moritz Maurer and Junior Associate Reto Seiler.

Dorda has advised the Exeter Property Group on the sale of a logistics center near Vienna to Allianz Real Estate, which was advised by CMS.

Dorda’s team included Partners Stefan Artner and Magdalena Brandstetter and Associate Markus Buchleitner.

CMS’s team included Vienna-based Partner Johannes Hysek and Stuttgart-based Partner Volker Zerr and Principal Counsel Sabina Krispenz.