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BPV Huegel has advised the Irish Zeus Packaging Group on the acquisition of Austrian-based food packaging company Petruzalek from Italian investment holding company Italmobiliare. Gattai, Minoli, Agostinelli & Partners and Pelzmann Gall Gross — the Austrian office of EY Law — advised the sellers on the transaction, which remains subject to regulatory approval. 

“Austria has learned in the last year that every choice needs to be evaluated and reevaluated,” says Klaus Pfeiffer, Partner at Weber & Co. in Vienna. “Especially when it comes to making decisions about the pandemic, facts on which assumptions are based can change rapidly.” Having learned this lesson, he says, the Austrian government has “put itself in a good position to be flexible and able to constantly reassess its position – which will lead to better responses to the current crisis and future challenges.”