The Legal 500

Schoenherr's standing as a leading corporate law firm in Central and Europe Europe (CEE) has once again been confirmed by the rankings that Chambers & Partners, the distinguished legal directories publisher, released at the end of last week. Schoenherr practice areas in Austria and across CEE received a total of 17 rankings in the 2013 edition of Chambers Global, including seven top tier ("Band 1") rankings. Read more...

Schoenherr, a leading corporate law firm in Central and Eastern Europe, advised NOVOMATIC AG, one of the world's largest producers and operators of gaming technologies, in connection with its investment in I-NEW Unified Mobile Solutions AG. Following the 19 April 2013 signing, NOVOMATIC's acquisition of a 50.097 percent stake in I-NEW is expected to close in around two months. The parties agreed to keep the financial terms of the transaction confidential. Read more...

Schoenherr's standing as a leading corporate law firm in Central and Europe Europe (CEE) has once again been confirmed by the rankings that Chambers & Partners, the distinguished legal directories publisher, released at the end of last week. Schoenherr practice areas in Austria and across CEE received a total of 17 rankings in the 2013 edition of Chambers Global, including seven top tier ("Band 1") rankings.

Schoenherr advised Austrian packaging group Ganahl AG on the acquisition of MKB Oluklu Mukavva Kutu ve Ambalaj San. Tic. A.S. ("MKB"). MKB is active in the corrugated packaging industry in Turkey, a sector which is currently attracting a lot of foreign investors. The transaction has been completed in February this year. The parties agreed to keep the purchase price confidential.

schoenherr is further strengthening its standing as a leading corporate law firm in Central and Eastern Europe by appointing seven attorneys as new local partners in its offices in Poland, Slovenia and Romania. Agata Demuth joins schoenherr as a partner in its Warsaw office, while Maja Žgajnar joins the firm as a partner in Ljubljana. In Bucharest, five longer-serving attorneys were promoted to local partners: Oanu Alexandru, Simona Chirică, Monica Cojocaru, Mădălina Neagu and Silvia Popa.

The need for English-language specialist literature on legal issues in Austria has risen with the increasing internationalisation of firms active in the country. Now available in a revised second edition, "Employment Law: A Basic Primer" provides interested practitioners with an overview of the most important provisions of Austrian employment law.

Schoenherr, a leading full-service corporate law firm in Central Europe, advised a group of some 40 Austrian and international creditors (lenders, bondholders and hedge counterparties) on the negotiation and execution of a comprehensive financial restructuring package for bauMax group, a leading DIY retailer in Austria and the CEE region.

on its merger with gm pharmaSc

Schoenherr, a leading full-service corporate law firm in Central Europe, advised Austrian pharmaceutical wholesaler Jacoby Pharmazeutika AG on its merger with its peer gm pharma gmbh. The merger received regulatory approval on 20 December 2012. Following the completion of the deal, which is expected during the second quarter of 2013, Jacoby's owners will hold 70 per cent of the newly-combined entity Jacoby GM Pharma GmbH, with gm pharma's shareholders holding the remainder.

Schoenherr, a leading full-service corporate law firm in Central Europe, maintained its top position in the Austrian M&A market in 2012, according to the league tables for legal advisors* published by the Financial Times Group's business intelligence subsidiary mergermarket. According to mergermarket's deals database, Schoenherr's M&A practice ranked No 1 in terms of the number of qualifying Austrian M&A transactions it advised on in 2012. Having ranked first on this basis in mergermarket's 2011 league table for Austria, Schoenherr thus continued to lead its legal advisory peers, 48 of which managed to earn a ranking in the 2012 table.

Schoenherr, a leading full-service corporate law firm in Central Europe, advised France Telecom-Orange as overall transaction counsel in the telecom company’s recently completed sale of its shareholding in Orange Austria to a unit of Hutchison Whampoa.

Schoenherr, a leading full-service corporate law firm in Central Europe, advised Pearson plc, one of the world's premier media and education companies, on its acquisition of all the rights and obligations of limited partners in iOKI Sp. k., a Poland-based supplier of e-learning solutions. Pearson also acquired 100% shares of iOKI sp. z o.o., the general partner of iOKI Sp. k. Following its signing in October, the deal closed on 17 December 2012.

The Central European law firm Schoenherr advised Daimler AG on the reorganization of its joint-venture with the Austrian Pappas family. Daimler will acquire Pappas' share in Mercedes-Benz Österreich Vertriebsgesellschaft mbH (the general importer of Mercedes-Benz, smart and Fuso cars) and Mercedes-Benz Financial Services Austria GmbH, the Aus-trian financial services provider. Further, Daimler and Pappas will restructure the Austrian spare parts wholesale business from 1 January 2014; Daimler will provide spare parts from its logistics center in Nuremberg, Germany. Completion of the transaction is subject to merger control clearances. The purchase price is confidential.

... photovoltaic parks in Romania"

Schoenherr, a leading full service law firm in Central Europe, advised the Chinese group Hareon Solar on its investment in photovoltaic parks in Romania. The project is a joint venture between Hareon Solar and ESPE Srl, a leading Italian developer of green energy systems. The cooperation covers an initial pipeline of up to seven ground-mounted photovoltaic parks in Romania with a total capacity of 20 MWp. The parks will be sold to institutional investors as soon as they become operational in early 2013. 

Schoenherr, a leading full service corporate law firm in Central Europe, advised NOVOMATIC AG, one of the world's largest producers and operators of gaming technologies, in connection with its investment in TAP dayli Vertriebs GmbH. TAP dayli (the former Austrian subsidiary of the discount retailer Schlecker) currently operates approximately 1,400 branches in 5 countries.

Schoenherr, a leading law firm in Central Europe, is set to fully integrate Turkey's CTK Türkoğlu & Celepçi, with whom Schoenherr has worked closely since 2007 and has had a formal cooperation since autumn 2010. At a shareholders meeting at the end of Septem-ber, Schoenherr's partners decided unanimously to merge with Türkoğlu & Celepci, with the merger becoming effective as of 1 February 2013, the start of the Vienna-based law firm's business year.

Schoenherr, a leading corporate law firm in Central Europe, advised C-QUADRAT Investment AG (C-QUADRAT), which is listed on the Vienna and Frankfurt stock exchanges, in connection with the acquisition of the UK fund management group BCM & Partners for approximately EUR 13.4 million in cash and treasury shares. Closing of the transaction is inter alia subject to the approval by the UK Financial Services Authority.

The Republic of Austria agreed to invest and become a shareholder in Österreichische Volksbanken-AG (ÖVAG) in spring 2012. In this context, a number of measures and steps were agreed to further improve and strengthen the capital position and capital ratios of ÖVAG. In addition to increasing the focus on Austria, it was agreed to reduce the assets of the bank. ÖVAG continues to execute vigorously on this strategy and has now taken another significant step by completing the sale of its container-leasing unit which had been agreed previously on 17 July 2012. The sale of assets owned by Investkredit in Frankfurt to DZ-BANK in the amount of EUR 400 million has also been completed.

Continental Group's USD 950 million bond issue 

Schoenherr, a leading law firm in Central Europe, represented the bookrunners and initial purchasers led by BofA Merrill Lynch, Credit Agricole CIB, Deutsche Bank, HSBC, J.P. Morgan and RBS on the Austrian, Hungarian, Romanian and Slovak law aspects of a USD 950 million high yield bond issued by Continental Rubber of America, Corp., USA.

Schoenherr further strengthened its standing as the leading corporate law firm in Austria by winning five "Advocatus" legal awards from the distinguished newspaper Die Presse.

Schoenherr, a leading corporate law firm in Central Europe, advised C-QUADRAT Investment AG (C-QUADRAT), which is listed on the Vienna and Frankfurt stock exchanges, in connection with the acquisition of the UK fund management group BCM & Partners for approximately EUR 13.4 million in cash and treasury shares. Closing of the transaction is inter alia subject to the approval by the UK Financial Services Authority.

Schoenherr further strengthened its standing as the leading corporate law firm in Austria by winning five "Advocatus" legal awards from the distinguished newspaper Die Presse.

The Republic of Austria agreed to invest and become a shareholder in Österreichische Volksbanken-AG (ÖVAG) in spring 2012. In this context, a number of measures and steps were agreed to further improve and strengthen the capital position and capital ratios of ÖVAG. In addition to increasing the focus on Austria, it was agreed to reduce the assets of the bank. The reduction efforts shall focus predominantly on assets in the Real Estate and Corporate segments.

Schoenherr, a leading corporate law firm in Central Europe, advised Swiss Exchange-listed Valora on the sale of Valora Services Austria to Germany's Trunk Group, a well-established player in the press distribution market. Under the terms of the transaction, Trunk Service GmbH will acquire 100% of the outstanding shares of Valora Services Austria, which in 2011 generated some CHF 120 million in net revenues and an operating profit of CHF 3.4 million.

Austria's UC4 Software Group from Carlyle

EQT VI has agreed to acquire UC4 Software Group ("UC4" or the "Company") from Carlyle Europe Technology Partners, UC4's founder Franz Beranek, and its management for an enterprise value of EUR 220 million.

Schoenherr, a leading law firm in Central Europe, advised Deutsche Bank, Barclays, Bayrische Landesbank and Citigroup Global Markets in their role as the global lead managers and initial purchasers of the EUR 300 million high yield bond issued by Germany’s Schaeffler Group at the beginning of July.

Schoenherr, a leading law firm in Central Europe, advised the Spanish real estate investment company LITEXCO INVESTMENTS SLU on the sale of an office building in the city center of Bucharest to an investment fund. The value of the transaction exceeded EUR 4 million.

Schoenherr, a leading corporate law firm in Central Europe, advised Siemens Aktienge-sellschaft Österreich on the sale of its pension fund Siemens Pensionskasse AG to Valida Holding AG.

Schoenherr, a leading law firm in Central Europe, has advised the founding shareholders of Romania’s Glasscorp SA on the firm’s sale to Turkish glassmaker Trakya Cam Sanayii AS, which is listed on the Istanbul stock exchange.

Central European law firm Schoenherr has advised HYPO NOE Gruppe on its acquisition of Facility Management company's first facility corporation. NÖ HypoBeteiligungsholding GmbH, a 100% daughter company of HYPO NOE Gruppe Bank AG, came first with the best offer in a bidding procedure coordinated by KPMG Advisory.

Schoenherr advised OMV Petrom SA in the sale of a 99.99% share in Petrom LPG SA to Romania’s Crimbo Gas International SRL.

Schoenherr, a leading law firm in Central Europe, advised Vienna Stock Exchange-listed UNIQA Versicherungen AG (UNIQA) on its EUR 500 million rights offering, which launched 28 June 2012.

Schoenherr, one of the leading law firms in Central Europe, has found a new office location and will be moving from five separate premises to a single location at Schottenring 19.

Schoenherr advised Sun Chemical in connection with the acquisition of the Ben-da-Lutz metallic effects business. Closing of the transaction is, inter alia, subject to merger control clearance and is expected to occur in the 3rd quarter of 2012.

Hans Georg Laimer (37), who was appointed partner at Schoenherr At-torneys at Law at the beginning of 2012, is the new head of the firm’s employment law practice.

Sports data company RunningBall

Schoenherr advised London Stock Exchange listed digital sports specialists PERFORM Group plc in connection with the acquisition of the Austrian subsidiary of Swiss-based sports data company RunningBall AG for EUR 120 million in cash and shares. Transaction counsel was Wiggin LLP, London. The transaction was closed on June 1, 2012. 

Schoenherr’s standing as a leading corporate law firm in Central Europe has been confirmed by rankings recently issued by Chambers & Partners, the distinguished British legal publisher. In its annual "Chambers Europe" legal directory, Chambers recognized 13 Schoenherr practice areas in Austria and CEE jurisdictions as belonging to the top tier ("Band 1") in their national markets.

The Fees Regulation for proceedings before the Federal Public Procurement Office (Bundesvergabeamt ‒ BVA), in force since 13 April 2012, entailed a simplification of the fees regime.

The Central European law firm Schoenherr advised Germany’s WAZ Media Group in the sale of its subsidiary Media Print Macedonia to Orka Holding, a familyowned business conglomerate based in Macedonia.

Denise R. Hamer has joined the Central European law firm Schoenherr as a partner in its Banking, Finance and Capital Markets practice group.

the implementation of the Renewable Energy Directive

The Central European law firm Schoenherr acted as Consortium Leader for a project assisting the Directorate General for Energy in its assessment of the Renewable Energy Directive’s implementation in the national legislation of all 27 EU member states. 

The Central European law firm Schoenherr advised AGRANA Beteiligungs-AG (AGRANA), which is listed on the Vienna Stock Exchange, in the merger of its fruit juice concentrate subsidiary AGRANA Juice Holding GmbH with Ybbstaler Fruit Austria GmbH, a subsidiary of Raiffeisen Ware Austria AG (RWA).

Central European law firm schoenherr reached top position in the Austrian M&A market according to 2011 MergerMarket League tables* for Legal Advisors. Schönherr´s M&A practice is ranked No 1 in terms of number of qualifying deals for Austrian M&A for the year 2011 and has reached the top position among 74 listed legal advisors.

Europa Partners and France Telecom sell Orange Austria to Hutchison ("Drei")

The recent sale of the Orange Austria group to Hutchison 3G Holdings Austria GmbH (Hutchison Austria), a subsidiary of Hutchison Whampoa Limited, Hongkong, has kept several leading law firms busy for weeks. 

Central European law firm Schoenherr advised the Stockholm SE listed SECURITAS AB, one of the world's largest security companies, on the acquisition of the 85% interest in the Croatian security services provider PROTECT d.o.o. Ri-jeka and the indirect acquisition of its subsidiary PROTECT EDUCA. The agree-ment includes an option of acquiring the remaining 15%. The enterprise value of the acquired 85% of the shares is estimated to be EUR 5.7 million.

illustrated by Serbian artist Igor Marsenić

Now in its sixth edition, the Central European law firm Schoenherr released its new road-map at the beginning of the year. 

Schoenherr Bucharest Partner Narcisa Oprea was elected board member of Bucharest Stock Exchange on 9.1.2012.

Narcisa, who heads the capital markets team of Schoenherr in Romania, ran as an independent. The board of BSE has been elected in the beginning of the new year and currently holds 9 members. 

Schoenherr has advised Austrian energy provider BEWAG on the sale of its shares in the Burgenland cable TV service provider BKF to schau media Wien GesmbH, which is part of the Vienna Bohmann publishing-group.

On 8 July 2011 the Parliament of the Republic of Moldova passed Act No. 133/2011 on personal data protection in Moldova (Act No. 133). Act No. 133 will enter into force from 15 April 2012 and implements new norms on the protection of individuals with regard to the processing of personal data, registration procedures (notification) for processors of personal data, and rules on the cross-border transfer of personal data.

Schoenherr advised Japanese SEKISUI Chemical Co., Ltd. in connection with the acquisition of a 75% share in the pipe-renewal business of the rabmer-Group, a family owned Austrian group of companies with its ultimate parent company, rabmer Holding GmbH, being based in Altenberg, Austria. The strong presence of rabmer in Central and Estern Europe will serve as door opener to SEKISUI who was looking to enter the market.

Throughout the CEE/SEE region, the percentage of non-performing loans (NPLs) to total loan receivables has increased dramatically during the current economic cycle. With its guide on "Non performing loans in Central Europe – disposal / acquisition strategy" Central European law firm Schoenherr presents a practical guideline for those contemplating to sell NPLs as part of their strategy of active-ly managing distressed credits as well as for potential investors in this asset class.

The Central European law firm Schoenherr advised the listed Swedish telecommunications group Tele2 on its acquisition of the Austrian internet service provider Silver Server. Finalisation of the transaction is subject to merger control clearance. The purchase price is undisclosed.

Central European law firm Schoenherr advised Swiss consumer goods group Valora on its acquisition of the majority of K. Schmelzer-J. Bettenhausen GmbH & Co KG.

Schoenherr has advised listed Österreichische Post AG in connection with the acquisition of a 26% stake in Romanian PostMaster s.r.l. (including an option to acquire the remain-ing 74% stake within two years).

02.11.2011
The Central European law firm Schoenherr has achieved an important and final success for the American brewing company Anheuser-Busch, after 12 years of litigation with the Czech Budweiser Budvar National Corporation.

Central European law firm Schoenherr has advised VTB Capital, the investment arm of VTB, Russia’s second largest bank, on the acquisition of a controlling stake in Bulgartabac Holding AD (Bulgartabac). The Bulgarian government officially launched the privatisation of Bulgartabac in May 2011 and the transaction was closed on 14 October 2011.

17.10.2011 Central European Law Firm Schoenherr advised Atlas Copco MAI GmbH on selling its selfdrilling anchors business to Minova, a member of the Australian group Orica Limited. According to a company press release, the business involves rock bolts primarily used in civil engineering applications. The deal is in line with Atlas Copco’s strategy in the rock reinforcement area to focus on products for the mining industry.

Central European law firm Schoenherr has advised Österreichische Volksbanken AG (ÖVAG) on the sale of Volksbank International AG (VBI) to Sberbank of Russia.

As from 1 February 2012, Robert Bachner (39) will strengthen the Central European firm Schoenherr as partner. The renowned M&A and infrastructure project expert thus returns to Schoenherr after a six-year break, where – except for a two-year foreign sojourn (including as a lawyer with Sullivan & Cromwell in New York and Frankfurt) – he worked from 1997 to 2005.

04.07.2011
Central European Law Firm Schoenherr advised M-real Group, Finland, on the sale of M-Real Hallein GmbH to Schweighofer Group.

As corporations become more international and grow in size, so does their liability risk as well as that of their managers. White Collar Crime – especially bribery, fraud and money laundering – and Compliance is steadily gaining in significance.

Central European law firm Schoenherr has advised the Austrian energy provider Bewag on the sale of the Croatian telecommunications provider B.net to Telekom Austria, which will take over the company through its Croatian subsidiary Vipnet.

Stephan Frotz, Clemens Spitznagel

Is a supervisory board member justified in taking a decision which helps his current company at the expense of his former company?

Background
In spring 2010 a considerable former Austrian politician stepped down from his supervi-sory board seat at a big Austrian stock company (A-AG). A few days later, it became known that he had been elected chairman of the supervisory board of another Austrian stock company (B-AG). Due to the fact that both companies were strong competitors this “change over” caused harsh reactions from A-AG. The main apprehension was the poten-tial disclosure of confidential information he, as a former supervisory board member, had collected through his activities on the supervisory board. This led to lively public discus-sions about under which circumstances the acceptance of a supervisory board mandate might be inappropriate or even illegal.

09.05.2011
Central European law firm Schoenherr has hired Pawel Hawla as local partner for its Warsaw office. At Schoenherr he will be part of the Warsaw corporate / M&A practice, where he will focus in particular on M&A and equity capital market transactions. Paweł joins Schoenherr from the local office of international law firm Salans at the beginning of May.

Central European law firm Schoenherr has hired Katarzyna Terlecka as partner for its Warsaw office. She will join the firm from the local offices of Allen & Overy on June 1st. At the same time, Florian Cvak, partner with Schoenherr focusing on Private Equity and M&A, will be appointed managing partner of the firm’s Warsaw office.

On 31 March 2011 the Bulgarian State Regulatory Energy and Water Commission announced the new feed-in tariff for electricity generated from renewable energy sources for 2011.

Financial Markets International (FMI) and Schoenherr have been selected for the devel-opment of the Moldovan secondary normative framework under the draft law on capital markets.

Central European firm Schoenherr has been appointed by the European Commis-sion Directorate General for Energy as leader of a consortium to advise the Commission on the project called "Best Renewable Energy Practices in EU 27".

Jani Soršak has returned as partner to the Ljubljana office of Central European law firm Schoenherr after a period of more than three years at the helm of the Slovenian Competi-tion Protection Office (CPO). As CPO Director Soršak led Slovenia’s increased efforts to bring the country in line with EU antitrust enforcement practice.

Central European law firm Schoenherr has advised Monier Group on the acquisition of the remaining shares in BRAMAC from joint-venture partner Wienerberger. Until now, both companies held a 50 percent stake in BRAMAC, a leading roof building material producer with a presence in 12 countries in Central Europe. Simultaneous to the acquisition of BRAMAC, Monier sold its minority stake in the Austrian roof tile manufacturer Tondach Gleinstätten to brick producer Wienerberger. Closing of the transactions is subject to clearance by the competent antitrust authorities.

Central European law firm Schoenherr has advised Raiffeisen Capital & Investment SA, ING Bank Bucharest Branch, and BRD-Groupe Société Générale SA as brokers on the Bu-charest listing of Fondul Proprietatea, the Romania based investment company with a portfolio consisting of stakes in 83 companies. The first trading day on the Bucharest Stock Exchange (BVB) is planned for 25 January, 2011.

Central European law firm Schoenherr has advised NASDAQ-listed Silgan Holdings Inc., USA, on the acquisition of the food can business of Austrian Vogel & Noot Holding AG. The acquisition includes 12 food can manufacturing facilities throughout Central and Eastern Europe.

Central European law firm Schoenherr has advised Advent International, a leading global private equity firm, headquartered in Boston (USA), on the sale of Takko Holding GmbH to the British private equity investment group Apax Partners. With some 1,500 outlets in Germany and abroad, Takko is among the most successful fashion retailers in Europe.

Central European law firm Schoenherr has advised NXP Semiconductors N.V. on the sale of its Vienna-headquartered Sound Solutions business to Dover Corporation. Dover’s af-filiate Knowles Electronics will acquire NXP’s Sound Solutions business for EUR 652 mil-lion.

Central European law firm Schoenherr has advised NASDAQ-listed Silgan Holdings Inc., USA, on the acquisition of the food can business of Austrian Vogel & Noot Holding AG. The acquisition includes 12 food can manufacturing facilities throughout Central and Eastern Europe.

Central European law firm Schoenherr has advised German media group WAZ Media Group on the sale of Bulgarian daily newspapers "Trud" and "24 Chasa" and weekly "168 Chasa" to BG Printmedia and a group of private investors. In addition to the titles, WAZ will also transfer its printing facility "Sofia" and the distribution company "Strela" to BG Printmedia.

Central European law firm Schoenherr has advised Swedish security services company Securitas AB on two takeovers in Romania and Bosnia and Herzegovina. In Romania Se-curitas expanded its market share by the acquisition of Cobra Security from UTI Group, while in Bosnia and Herzegovina the company made a market entry by the purchase of the Alarm West Group.

Central European law firm Schoenherr has advised Rasperia/Basic Element, Moscow, on the repurchase a 17 % stake in Austrian construction group STRABAG SE. Mid 2009, Rasperia´s 25% shareholding in the Vienna-listed building group was taken over by co-shareholders Raiffeisen Holding NÖ-Wien, UNIQA and the Haselsteiner family companies. As part of that transaction the company was granted a call option to buy back the 25% shareholding in STRABAG SE.

The family shareholders of Porsche Holding Salzburg have resolved to exercise the put option to sell to Volkswagen AG the operating business of Porsche Holding Salzburg. The put option to this effect was exercised yesterday. The transfer of the automobile trade company will take place at a fixed price of EUR 3.3 billion, probably during the first half of 2011 but no later than September 30, 2011.

Central European law firm Schoenherr has, for the first time, invited lawyers from outside its Vienna head-quarters into the firm’s equity. The five new partners - based in Belgrade, Bucharest and Prague - will make up more than a fifth of the partnership.

Central European law firm Schoenherr has promoted Narcisa Oprea to partner in the firm’s Bucharest office. Narcisa, who recently received an award for leading capital markets lawyer in Romania from publishing group FinMedia, joined Schoenherr in May 2008 to head the Romanian Capital Markets team.

The tax practice of Central European law firm Schoenherr has continued its expansion during the summer. Herbert Buzanich has joined the team and Andreas Baumann, who joined Schoenherr in late 2007, was promoted to junior partner.

Central European law firm Schoenherr has promoted Ursula Rath to partner in its Banking & Finance / Capital Markets Practice Group. Ursula, who specialises in capital markets transactions, investment funds and financial services including regulatory aspects, has acted on some of the most visible and innovative transactions in the Austrian market.

Central European law firm Schoenherr is advising German car manufacturer Volkswagen on the Austrian and CEE aspects of the creation of an integrated automotive group with Porsche led by Volkswagen.

European law firm Schoenherr has increased its partnership by 8 lawyers, lifting the total number of firm-wide partners to 53. In the Vienna office Florian Cvak, Alexander Popp and Gudrun Stangl were promoted, while five partners were taken on board as part of the takeover of the former Gleiss Lutz offices in Prague and Warsaw.

Vienna 01.12.2008 - European law firm Schoenherr is increasing its coverage of Central Europe by opening offices in the Czech Republic, Poland and Slovakia. The openings in these more established markets place Schoenherr, as a leading legal service company, into a unique position in the region: its network of offices in Central Europe is unmatched by any other law firm.

European law firm Schoenherr has advised Raiffeisen Centrobank AG on its admission as participant to the Bucharest Stock Exchange trading system, making the Austrian bank the second non-resident company to receive approval for remote trading on the Bucharest Stock Exchange platform.