Category: Austria

Cerha Hempel has advised Philip Morris Austria GmbH on the launch of a new tobacco product in Austria.

According to Cerha Hempel, “the product is based on ‘heat-not-burn technology’ and is already being offered for sale by Philip Morris in several European countries.” Additionally, the firm reports that the product “is the first such heating device launched on the Austrian market.”

The placing of the product on the Austrian market is subject to approval by the Federal Minister of Social Affairs, Health, Care, and Consumer Protection.

Cerha Hempel represented Philip Morris both during the approval procedure with the Federal Minister and before the Regional Administrative Court. The firm’s team included Partner Hans Kristoferitsch and Counsel Armin Schwabl.

Wolf Theiss has advised Japan’s Takeda Pharmaceuticals on its March 30, 2020 acquisition of Plasmaspendedienst GmbH.

Wolf Theiss’ team included Partners Sarah Wared, Kurt Retter, Roland Marko, and Karl Binder, Counsel Walter Poeschl, Senior Associate Paulina Pomorski, Consultant Iris Riepan, and Associates Dominik Engel, Clemens Pretscher, and Vilma-Reeta Kivilahti.

Last spring Wolf Theiss advised Takeda on its acquisition of plasma donation center Plasmapunk Favoriten and Donaustadt (as reported by CEE Legal Matters on April 23, 2019).

Dorda has advised Greiner AG on the takeover of Eurofoam GmbH from Recticel. The Brussels office of Allen & Overy and Eisenberger & Herzog advised Recticel on the deal. Financial details were not disclosed, and closing remains contingent on regulatory approval.

Greiner, a family-owned company founded in 1868 and based in Kremsmuenster, Austria, is a supplier of plastic and foam products that is active in 33 countries worldwide.

Eurofoam is the a manufacturer of flexible polyurethane foam with annual sales of more than EUR 400 million and more than 2,400 employees at 36 locations in 12 countries across Europe. According to Dorda, “Greiner … already held a 50% share in this joint venture with the Dutch company Recticel holding the remaining share. Now Recticel has sold its share in the joint venture, which was founded in 1992, making Greiner the sole shareholder of Eurofoam GmbH.”

Dorda’s team included Partners Martin Brodey, Christian Ritschka, and Heinrich Kuehnert, Counsels Elisabeth Koenig and Gunnar Pickl, and Associates Patricia Backhausen and Clemens Semelmayer.

Eisenberger & Herzog’s team included Partners Marco Steiner and Mario Spanyi and Associate Johannes Feilmair.

Weber & Co. has advised OMV AG, the international integrated oil and gas company headquartered in Vienna, on the issuance of multi-tranche corporate bonds. White & Case Frankfurt advised the joint lead managers Barclays Bank Ireland PLC, Credit Agricole Corporate and Investment Bank, MUFG Securities, Societe Generale, and UniCredit Bank Austria AG.

According to Weber & Co., the bond issuance was “made for the financing of the acquisition of an additional 39% stake in Borealis AG.”

According to Weber & Co, “the bond issue in an aggregate volume of EUR 1.75 billion includes the issue of three tranches as of April 9, 2020. Two tranches have a volume of EUR 500 million each, one with a four-year term (2024) and the other one with an eight-year term (2028). The third tranche comprises a volume of EUR 750 million and a term of twelve years (2032). The bonds are governed by German law and are issued on the basis of OMV’s EUR 8 billion debt issue program (EMTN). They will be admitted to trading on the Official Market of the Vienna Stock Exchange and the regulated market of the Luxembourg Stock Exchange.“

Weber & Co’s team included Partners Christoph Moser and Stefan Weber and Associate Angelika Fischer.

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

Dorda has advised UBS and HSBC as joint global coordinators in the EUR 1.65 billion capital increase of Austria’s AMS AG.

AMS AG is a supplier of high-quality sensor solutions. The company is based in Austria and listed on the Zurich stock exchange. The proceeds of the capital increase will be used to finance the planned acquisition of Frankfurt-stock-exchange-listed Osram AG.

Dorda’s team included Partners Andreas Mayr, Tibor Varga, and Christoph Brogyanyi.

Editor’s Note: After this article was published, CEE Legal Matter learned that AMS AG was advised by Herbst Kinsky. The firm’s team was led by Attorney at Law Phillip Dubsky and included Attorneys at Law Philipp Baubin and Alina Regal and Associates Rosa Runzler, Carmen Walser, and Georg Durstberger.

Subsequently, CEE Legal Matters learned that Linklaters’ Frankfurt and London offices worked alongside Herbst Kinsky in advising AMS. The firm’s team was led by Partners Alexander Naidenov and Stephan Oppenhoff. 

Dorda has advised Lernsieg Mobile Media GmbH on data protection issues related to the relaunch of its Lernsieg app, which allows students to evaluate their schools and teachers.

As Dorda reports, the app “was previously taken offline after a short time following massive counter-campaigns in autumn 2019.”

Dorda reports that “as a result of the media coverage, the Austrian Data Protection Authority initiated an official examination to determine the admissibility of the application under data protection law. After a comprehensive examination, [it] confirmed the data processing by the app to be legitimate and therefore closed the proceedings without imposing any restrictions.” The firm reports that Lernsieg has since been downloaded 300 thousand times. According to Dorda, “during the COVID crisis, the app is currently also offering free tutoring for students.”

Dorda’s team included Managing Partner Axel Anderl, Attorney Nino Tlapak, and Associate Alona Klammer.

Baker McKenzie has opened a new Procurement Law and Public Law practice in Austria, led by Kathrin Hornbanger.

According to Baker McKenzie, “[Hornbanger’s] most important task during the first months will be to navigate public sector suppliers through the corona crisis to enable them to continue providing their vital public services.”

Hornbanger studied law in Salzburg and Vienna, and wrote her diploma thesis in Paris. She has worked with both Schoenherr and as Head of the Legal Department at the Austrian Federal Procurement Agency. She established her own law firm in 2005, where, according to Baker McKenzie, “she has, until recently, successfully advised domestic and non-domestic clients in public tenders. Last year, she started a cooperation with Heid & Partner.”

“Joining Baker McKenzie provides me with the best possible conditions to align my expertise in procurement and European law with my international experience,” Hornbanger said, “and to draw on a top organization. The corona crisis, in particular, demonstrates how international the public sector supply chains have become and which strategic challenges this entails for companies.”

Fellner Wratzfeld & Partner has advised VTB Bank Europe on financing provided to an unidentified buyer for its acquisition of 50% of SEMA Vermoegensverwaltung GmbH, the Austrian holding company of the Planquadr.at development and real estate portfolio group, from unnamed sellers.

Fellner Wratzfeld & Partner’s team was led by Partner Florian Kranebitter.

Dorda has advised Warburg-HIHInvest Real Estate on the sale of a multi-story office building in the Summering part of Vienna to a real estate fund managed by Luxembourg-based Blue Colibri Capital. Reidlinger Schatzmann reportedly advised the buyers.

Warburg-HIH Invest Real Estate from Germany is a real estate investment manager in Europe, and the building that it sold has a floor area of around 14,000 square meters. The sale took place via a limited bidding process and was done via a share deal.

Dorda’s team included Partner Stefan Artner and Associates Agnes Beck and Markus Buchleitner.

Dechert and BPV Huegel have advised Valneva Austria GmbH, Vienna, on debt financing it received from the US-based Deerfield and OrbiMed healthcare funds. Dorda advised the lenders.

According to BPV Huegel, “the transaction includes an initial fixed rate straight debt of USD 60 million and flexible terms that allow the company to draw down an additional USD 25 million of capital upon similar terms in the next 12 months. Completion took place in the beginning of March and included the perfection of liens and pledges over the main assets of Valneva Austria and subsidiaries of the Valneva Group.”

Valneva SE is a biotech company developing and commercializing vaccines for infectious diseases. The company operates in Austria, Sweden, the United Kingdom, France, Canada, and the United States.

BPV Huegel’s team was led by Partners Stefan Gaug and Elke Napokoj and included Partners Gerald Schachner and Sonja Duerager, Senior Associate Nicolas Wolski, and Associate David Pukel.

Dechert’s team included New York-based Partner Samantha Koplik, Associates Dienna Corrado and Matthew Celentano, and Law Clerk Leila Malek, as well as DC-based Partner David Schulman.

Dorda’s team included Partner Tibor Varga and Associate Markus Aigner.