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CHSH Cerha Hempel Spiegelfeld Hlawati

PARKRING 2, 1010 VIENNA, AUSTRIA
Tel:
Work +43 1 51 43 50
Fax:
Fax +43 1 514 35 35
Email:
Web:
www.chsh.com

Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

CHSH wins IFLR award for Austria

The Austrian law firm of the year, CHSH, took a lead role as sole legal adviser to Wienerburger on the firm’s capital increase. This innovative deal saw subscription rights offered to Austrian shareholders, with an unusual backstop agreement with the Libyan Investment Authority. There was also an international private placement.

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CHSH lead counsel for AUA-Lufthansa transaction

We are pleased to announce that CHSH Cerha Hempel Spiegelfeld Hlawati, one of the largest and most well-known corporate law firms in Austria, provided legal advice to the Republic of Austria, ÖIAG, and Austrian Airlines during the takeover of AUA by Deutsche Lufthansa. The team headed by Edith Hlawati, which has extensive experience in privatization projects, provided legal advice in all relevant fields of law for this extremely complex transaction.

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Dr. Thomas Zivny joins CHSH as partner in the Banking & Corporate Finance Team

May 2008. Press Releases by CHSH Cerha Hempel Spiegelfeld Hlawati (view listing).

CHSH Cerha Hempel Spiegelfeld Hlawati, one of the largest and most well-known corporate law firms in Austria with offices in Central, Eastern and Southeastern Europe, has added to its already prestigious Banking & Corporate Finance Team. Attorney Dr. Thomas Zivny, LL.M. (Harvard), 32, will join the partnership on the 1. May 2008. Thomas Zivny specialises in banking and capital markets, with a particular focus on debt capital markets, project finance and healthcare.

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New Managing Partner at CHSH

March 2007. Press Releases by CHSH Cerha Hempel Spiegelfeld Hlawati (view listing).

Edith Hlawati takes on strategic position in the law firm's board. Albert Birkner appointed new managing partner from 1 January 2007.

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CHSH advised Pfizer Inc in an US$ 16,6 bn acquisition

March 2007. Press Releases by CHSH Cerha Hempel Spiegelfeld Hlawati (view listing).

On 20 December 2006 Pfizer Inc and Johnson & Johnson have finalised the acquisition of Pfizer Consumer Healthcare business ("PCH"), Pfizer's worldwide business division active in over-the-counter ("OTC") pharmaceuticals and personal care products, by Johnson & Johnson. The transaction volume amounted to around US$ 16.6 billion worldwide.

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CHSH: US$ 1,054 billion transaction for OMV in Turkey

July 2006. Press Releases by CHSH Cerha Hempel Spiegelfeld Hlawati (view listing).

CHSH advised OMV, the leading oil and gas corporate group in Central Europe, on its acquisition of a 34% stake in Petrol Ofisi, Turkey's leading company in fuel marketing, from Dogan Sirketler Grubu Holding.

The transaction value amounts to US$ 1.054 billion. Following the completion of the transaction OMV and Dogan will jointly control the company?s business activities, with both companies operating as equal partners.

OMV was advised by the CHSH M&A partners Clemens Hasenauer and Albert Birkner, White & Case M?savirlik Ltd Sti (Asil F Basgoz) and the Swiss law firm Homburger (Frank Gerhard). On the side of OMV (in-house) Oliver Dillenz and Hilmar Kroat-Reder were in charge of the transaction.

The deal is the biggest transaction involving an Austrian company this year.

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CHSH: Three IPOs totalling ? 1.5 billion in May 2006

July 2006. Press Releases by CHSH Cerha Hempel Spiegelfeld Hlawati (view listing).

CHSH Cerha Hempel Spiegelfeld Hlawati successfully completed three IPOs in May 2006.

The first half of 2006 saw four initial public offerings of Austrian issuers. In three of these, CHSH advised the banks as to Austrian law. After Telekom Austria's IPO in 2000 (largest) and Bank Austria's IPO in 2003 (third largest) - CHSH advised on both transactions - the IPO of ?sterreichische Post marks the fourth and the IPO of Zumtobel marks the fifth largest initial listing on the Vienna Stock Exchange. Austrian based issuer CAT Oil was listed on the Frankfurt Stock Exchange. (Source: Vienna Stock Exchange - http://www.wienerboerse.at/cms/1/48/)

CHSH advised Goldman Sachs, Erste Bank and Raiffeisen Centrobank as Joint Bookrunners on the initial public offering of Austrian Post with a volume of over ? 650 million.

The transaction is the third (partial) privatisation of a postal services company in Europe and the fourth largest IPO in the history of the Vienna Stock Exchange. The secondary shares were offered by ?sterreichische Industrieholding AG. Goldman Sachs, Erste Bank and Raiffeisen Centrobank placed the shares successfully among US (Rule 144 A), international and Austrian investors.

The syndicate banks were advised by the CHSH Banking & Corporate Finance team ? led by Edith Hlawati, Volker Glas and Christian Thaler.

CHSH represented UBS Investment Bank, Morgan Stanley and Bank Austria as Joint Global Bookrunners in the ? 600 million initial public offering (including new shares in the amount of ? 150 million) of the global lighting provider Zumtobel AG.

The transaction was the largest IPO by a private industrial company in Austria. It involved the sale of existing shares by private equity investor Kohlberg Kravis Roberts and by the Zumtobel family as well as the issuance of new shares from a capital increase. The shares were successfully placed in Austria, in the United States (Rule 144 A) and internationally and listed on the Vienna Stock Exchange.

Edith Hlawati, Philipp Spatz and Maria Doralt were on CHSH's team advising the syndicate banks.

Jointly with Linklaters Frankfurt the CHSH Banking & Corporate Finance team advised Dresdner Kleinwort Wasserstein as Lead Manager on the initial public offering of the oilfield services provider C.A.T. oil AG with a total volume of ? 290 million (including new shares in the amount of ? 130 million).

Dresdner Kleinwort Wasserstein successfully placed the shares with investors in Austria, Germany, the United States (Rule 144 A) and internationally. The cross-border listing of an Austrian issuer on the Frankfurt stock exchange involved complex legal issues under the new regulatory framework. Part of the Greenshoe was served by new shares.

The syndicate banks were advised by Edith Hlawati, Philipp Spatz and Nikolaus Adensamer from the CHSH Banking & Corporate Finance team.

Managing partner Edith Hlawati: 'Being involved in three IPO`s in the first half of 2006 underpins our leading role in Austrian capital market transactions. Longstanding experience, capacity and availability of a number of teams prove the depth of CHSH's capital market practice.'

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Legal Developments in Austria

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Austrian "White List"

    Exceptions from the OBLIGATION TO CARRY OUT A data protection impact assessment
    - Dorda
  • Stop! Wait! Move! – No longer Stamp Duty for Residential Homes

    On 12 October 2017, right in a last minute attempt to win undecided voters for one of the political parties, the leaving members of parliament enacted a new tax law. While fundamental changes to the Austrian Tenancy Law had been vividly discussed between the socialist and the conservative parties in recent years, the new law on the abolition of stamp duty falls completely short of what could have been achieved.
    - Dorda
  • European Court of Human Rights: Employers have limited rights to monitor employee communications at

    A landmark decision was issued yesterday (Judgement Bărbulescu v. Romania), a source of debate in the media , in which the European Court of Human Rights clarified the restrictions on monitoring employees in the workplace.
  • Potential Hurdle for Acquisitions in Hungary by Non-EU and Non-EEA Investors

    The Hungarian Ministry of the Interior recently submitted a legislative proposal to the Hungarian Government to amend the Act on Hungarian National Security Services (the " Proposal "). The Proposal suggests an amendment pursuant to which investors from non-EU and non-EEA countries who wish to invest in Hungary would have to obtain prior permission from the minister responsible for national security (the " Minister .
  • EU: High-Level Expert Group on Sustainable Finance delivers early recommendations

    On 13 July 2017, the High-Level Expert Group (" HLEG ") on Sustainable Finance published its interim report (" Interim Report ") setting out concrete steps to create a financial system that supports sustainable investments. This Legal Insight is part of our dedicated newsletter series on the European Capital Markets Union (" CMU "). Background The growing awareness of environmental challenges and sustainability risks as well as the adoption of the UN 2030 Agenda and the conclusion of the Paris Climate Agreement by the EU in 2015 call for an EU strategy on sustainable finance. Establishing an EU strategy on sustainable finance is a priority action of the CMU. In December 2016, the HLEG was established to advise on the development of such an EU strategy . The recently published HLEG Interim Report was recently presented in a public hearing on sustainable finance on 18 July 2017. At the same time, the HLEG presented an online questionnaire on the Interim Report aimed at obtaining targeted feedback until 20 September 2017, which would be reflected in the final report of the HLEG scheduled for publication by the end of 2017.
  • Serbian Competition Authority Steps Up Antritrust Enforcement

    The Serbian Commission for Protection of Competition (the " Commissio n") recently intensified its antitrust activities before the new Administrative Act came into effect. In one week alone the Commission initiated four antitrust cases and conducted two dawn raids. 1. What/who will be on the Commission's radar?
  • First Annual Privacy Shield Review to take place in September 2017

    One of the core principles of the EU-US Privacy Shield (" Privacy Shield ") is its Joint Review mechanism, which obliges the European Commission, the US Department of Commerce and the Federal Trade Commission to jointly review the functioning of the Privacy Shield on an annual basis, together with its national security and law enforcement aspects. The very first Joint Review is scheduled for September 2017. This first review is considered especially important, as it will be the first opportunity for US and EU regulators to closely analyse the operation of the Privacy Shield, address possible concerns about its functioning, and seek to ensure that the Privacy Shield continues to be a valid legal basis for transfers of personal data from the EU to the US.
  • The role of the supervisory board in investor relations

    1.Abstract
    - Dorda
  • Constitutional Court's Recent Judgments on Rent in Austria

    The Constitutional Court has recently provided two judgments on 28 June 2017 on the rent control legislation in Austria ruling that the current system for flats complies with Austrian Constitutional Law and the European Convention on Human Rights. The Constitutional Court visibly failed to take the opportunity to initiate a change to the current legislation. Further appeals to the Constitutional Court are likely and worthwhile with the Austrian parties currently involved in their campaigns for the general election in October 2017.
    - Dorda
  • Buy-to-Let Schemes in Austria

    Buy-to-let schemes reached the Austrian market several years ago and have gained increased popularity in the scenic alpine regions of Tyrol, Vorarlberg or Salzburg. Investors acquire condominium ownership in newly constructed hotel facilities and rent out the properties to hotel operators at – ideally – attractive rates. While buy-to-let-schemes can be very lucrative investments, they also raise complex legal and tax questions. With the economic and financial crisis falling into oblivion, investors, however, have become more and more willing to sail these waters.
    - Dorda