CMS has advised US-based thermal management technology developer Modine Manufacturing Company on the sale of its Europe-based air-cooled automotive business to Austria’s Schmid Metall GmbH. Taylor Wessing advised the buyer.
After many years of liberalization and globalization, recent years have shown a reversal of the European Union’s approach concerning foreign direct investment from third countries. As in much of the world, the EU has taken a more restrictive view than in the past, and this view is reflected on the legislative level with the FDI Screening Regulation.
Schoenherr has advised Linz-based start-up Storyblok on its EUR 7 million Series A financing round. Mubadala Capital, the state investment company of the United Arab Emirates, participated in the current financing round, as did existing investors 3VC and Firstminute Capital, Binder Groesswang advised Mubadala Capital on the deal.
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.
Austrian lawyer Josef Holzschuster will be relocating from Budapest to Amsterdam, having been appointed Head of Legal, Markets DA at Philips, in which capacity he will lead the worldwide Legal Team for the Philips Domestic Appliances business, reporting to the General Counsel for DA, also located in Amsterdam.
“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.”