Austria

Together with an international Norton Rose Fulbright team, DORDA advised Evergreen Hill Enterprise, Pte. Ltd. on the acquisition of 100% of the shares in TANN Group from Mayr-Melnhof Karton AG. The agreed enterprise value amounts to EUR 360 million. The DORDA team in this successful, cross-border transaction was led by Christian Ritschka (Partner, M&A) with main support from Ulrich Weinstich (Principal Associate, M&A). TANN Group prints on and finishes externally sourced fine paper to produce tipping paper. As the business is unrelated to cartonboard and consumer packaging, MM has decided to sell it. TANN Group generates annual sales of approximately EUR 220 million. TANN comprises 7 production sites in Austria, China, the Philippines, Turkey, Canada and Germany and a global workforce of around 730 employees. Based in Singapore,Evergreen Hill Enterprise, Pte. Ltd. is part of an Indonesian-based privately held group of diversified companies serving a wide variety of industries, such as banking, tobacco, consumer electronics, telecommunications, fast moving consumer goods, e-commerce, plantation, hotels & real estate, and many others. The transaction, which is subject to usual completion conditions and regulatory approvals, is expected to be closed in the first quarter of 2025. Author: Christian Ritschka, Ulrich Weinstich Area: M&A

Together with Roschier (Sweden) as main counsel DORDA`s Digital Industries Group advised European growth investor Sprints on its partnership with Styria Media Group. As part of the partnership, the joint venture between Sprints and Styria acquires all of Adevinta's shares in willhaben, Austria's digital consumer marketplace. This collaboration combines Sprints' extensive expertise as an investor in customer-focused technology businesses in Europe with Styria's prominent position as a leading media and digital company in Austria. The transaction is subject to approval by the relevant regulatory authorities. Completion of the transaction is expected in the second quarter of 2025. Financial terms of the transaction are not disclosed. The M&A team of DORDA in this transaction comprises the M&A partners Christian Ritschka (Lead) and Martin Brodey, as well as Ulrich Weinstich (Principal Associate) and Max Lesjak (Associate). Heinrich Kühnert (Partner) has lead responsibility for antitrust aspects, supported by Mirko Marjanovic (Principal Associate). Further DORDA team members are partners Magdalena Brandstetter (Real Estate) and Christoph Brogyanyi (Corporate), principal associates Julia Landskron (Corporate), Magdalena Nitsche (Insurance), Katrin Repic (Regulatory), Florina Thenmayer (Employment) and Ida Woltran (IP/IT), as well as associates Thomas Krappinger (IP/IT), Corina Kruesz (IP/IT), Anna Martseva (Insurance), Julia Moser (M&A), Maxie Müllbacher (Real Estate), Sophia Pux (Antitrust), Nicole Scharl (Corporate), Julia Strass (Employment) and Antonia Stubbe (Finance). The Roschier team is led by Björn Winström and Mattias Jönsson. The partnership between Sprints and Styria creates a powerful collaboration. Sprints brings decades of experience as an investor in online marketplaces. Styria, as a major player in the Austrian media and digital sector, provides deep local market knowledge and a strong network. Together, the two are ideally positioned to drive willhaben's continued growth and innovation. “Sprints partners with technology companies that place long-term customer happiness at the heart of everything they do. willhaben epitomises this philosophy. It has one of the most recognised and beloved brands in Austria, and we’re excited to join forces with them and Styria to support the next phase of the company’s growth.” said Henrik Persson, Managing Partner at Sprints. About willhaben willhaben - meaning “want to have” - is a leading provider in the Austrian digital marketplace landscape, with more than 3.8 million users per month. It is one of the go-to platforms of buyers and sellers in Austria, with more than 13 million listings across real estate, jobs, cars and motors and the free marketplace for private users. About Sprints Sprints invests in select European growth companies that use technology to significantly enhance their customers’ lives. The team of Sprints comprises investors and operators with deep, long-standing expertise across the marketplace, fintech and software sectors. Founded in 2015, its portfolio includes category-defining companies like Revolut (the leading global neobank), Hemnet (Sweden’s top property portal) and Chrono24 (a leading second hand luxury watch marketplace). About Styria Styria Media Group AG was founded in 1869 and is a leading Austrian media group as a house of media and marketplaces; its core markets in both business segments also include Croatia and Slovenia. Author: Martin Brodey, Christian Ritschka, Heinrich Kühnert Area: M&A, Competition & Antitrust, Corporate, IT, IP

E+H advised EnerCube GmbH (EnerCube), a Salzburg-based ClimateTech start-up, on a seven-figure financing round and the conclusion of a framework agreement in connection with an extensive partnership with investor Vonovia, one of Germany's leading real estate companies. Laurenz Sutterlüty and David Riedl founded EnerCube in 2023. EnerCube develops innovative heat pump systems for decarbonizing existing heating systems in apartment buildings. These prefabricated heating systems can be installed quickly and easily outdoors. Special hydraulic concepts and innovative heat pumps are used, making EnerCube's products a sensible alternative to fossil fuel heating systems for central hot water supply and heating of existing buildings with radiators. Prefabrication and the product approach also enable serial heating replacement. In addition, a silencer integrated into the cubes reduces noise emissions, and the option of external cube installation also offers a solution for any lack of space in the building. This modular solution therefore enables climate-neutral heat and hot water supply for multi-family buildings and represents an alternative to gas and oil heating, which will help to reduce the share of fossil fuels in the EU. "It has been a great pleasure to accompany one of Austria's most promising start-ups and its highly motivated and talented founders in this investment, and we wish the entire EnerCube team all the best for the future!" said E+H Venture Capital and start-up expert Steve Jeitler, who led the advisory team for EnerCube in the transaction together with Florian Vidreis. Susanna Falkenburg and Adrian Walser also provided advisory support to EnerCube. "No matter what legal discipline was involved, there was no question that could not be answered with an expedient solution within a very short time. The reliable, interdisciplinary, and forward-looking approach exceeded all expectations. Thank you for the intensive and great cooperation!" said the EnerCube founders, who are delighted with the successful completion of the financing round and the partnership with Vonovia. E+H Team (Legal advisor to EnerCube) Lead: Steve Jeitler (Partner, Corporate + M&A, Start-up + VC) and Florian Vidreis (Associate, Corporate + M&A, Start-up + VC) Further: Susanna Falkenburg (Attorney-at-Law, Corporate + M&A) and Adrian Walser (Associate, Employment Law)

CERHA HEMPEL has every reason to celebrate after receiving yet another international accolade. At this year's THE LAWYER Awards, CERHA HEMPEL was named "Law Firm of the Year Austria" 2025 by the renowned British specialist publisher in recognition of its outstanding and innovative achievements. When assessing law firms, The Lawyer recognizes outstanding firms that have excelled based on clearly defined criteria such as strategic development, legal excellence, market position, and innovative capacity. As emphasized by THE LAWYER expert jury, CERHA HEMPEL “was notable for its expansion into Central and Eastern Europe, reflecting its commitment to broadening its international footprint, as well as for pioneering the development of the first large language model tailored to Austrian legal terminology.” "We're extremely pleased to have won this award. Our thanks go to the entire team and above all to our clients. It's only with them that we can enjoy such success", Dr. Albert Birkner, LL.M. and Dr. Clemens Hasenauer, LL.M./MBA, CERHA HEMPEL Managing Partners, explained.