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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


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, Ă–IAG, 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 -

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

    Good things come to those who wait? Finally, the main implementing regulation for the Austrian Law on Network and Information System Security ( Netz- und Informationssystemsicherheitsgesetz , " NISG ") was published last week. It serves primarily to define which companies are actually affected by the NISG. Now it is getting serious for the operators of " essential services ". What does that mean?
    - Dorda

    Black Friday is unquestionable one of the most profitable and busiest days of the year for retail, particularly online. Worldwide almost all online store do offer sales or special promotions on Black Friday or Cyber Monday. Already after this practice has established online, a trademark for " BLACK FRIDAY " was registered in Germany back in 2013. In 2016 a Chinese company acquired the trademark and then filed in 2017 for its extension to Austria. Based on the registered trademark, it granted exclusive rights to an Austrian company, which licensed usage rights to various partner stores against remuneration. Further, an exclusive " Black Friday-Cooperation Program " was established. Non-partners who used the event name or trademark were prosecuted and requested to either pay a license fee or refrain from running Black Friday promotions. Some followed the request and entered into license agreements. Some, however, did challenge the validity of the trademark. Finally, respective proceedings to check the actual protection of the trademark were initiated. Austrian courts now held that the trademark " BLACK FRIDAY " is not protected in Austria .
    - Dorda

    On 5th December 2018, the Austrian data protection authority ( Datenschutzbehörde , "DSB") issued a decision (DSB-D123.270/0009-DSB/2018) on data subject's right to data deletion according to Art 17 GDPR. In a nutshell, the DSB accepted consistent anonymisation as a valid alternative to physical and technical deletion. Beside the clear statement that anonymous data is not subject to the GDPR, the DSB provided detailed information on (technical) requirements of anonymisation methods:
    - Dorda
  • Consent or pay – a valid scheme under the GDPR?

    Media companies throughout Europe struggle with a difficult economic environment: Shrinking sales figures for print products, the digitalisation and consumer demand force publishers to offer their content also on the internet. However, generating money for online publications is not quite easy as – at least in Austria – online subscription against renumeration has not been well accepted by customers. This partially has its root in the lack of suitable micropayment means in the past and users thus getting acquainted to online information being offered for free. Thus, publishers have instead focused on financing their platforms by online marketing activities such as placement of banners. Nowadays such digital advertisement is usually targeted to the specific user. For this purpose, cookies are stored on the user's computer upon his first visit of the website, which then collect data about his location, technical equipment used and online behaviour. This finally allows to display specific, user targeted advertisements. However, such cookies may cause issues with applicable consent requirements under the telecommunication and data protection regulations:
    - Dorda
  • fwp expands know-how thanks to new junior partner

    Vienna, March 2019. Fellner Wratzfeld & Partner GmbH (fwp) adds valuable competence and expertise to the team by welcoming Pavel Bachleda in its midst as a new attorney-at-law and junior partner.
  • fwp helps find a new mega arena location

    fwp helps find a new mega arena location

    Processing operations subject to the requirement of a data protection impact assessment.
    - Dorda
  • Rien ne va plus!

    - Dorda
  • DORDA advises on the acquisition of Austrian office properties Denk Drei

    Stefan Artner , Partner and Head of the Real Estate Practice Group, and real estate attorney Klaus Pfeiffer of DORDA advised Austrian Real Estate Development GmbH ( ARE , a subsidiary of Bundesimmobilien-Gesellschaft, the Austrian privatization agency) on the acquisition of the Denk Drei office properties from IC Development . The successful closing of the forward purchase transaction took place on April 30, 2018. The parties have agreed not to disclose the purchase price.
    - Dorda
  • Austrian "White List"

    Exceptions from the OBLIGATION TO CARRY OUT A data protection impact assessment
    - Dorda