On August 14, 2023, Binder Groesswang announced that Macquarie Asset Management's acquisition of a significant minority stake in Best in Parking AG (reported by CEE Legal Matters on May 10, 2023) had closed.
Schoenherr has advised Greiner Group member Neveon Holding on the sale of its automotive division consisting of Greiner Perfoam and its subsidiaries to Treves. Wolf Theiss advised Treves.
On August 1, 2023, Binder Groesswang announced that Semperit Aktiengesellschaft Holding's acquisition of the Austrian Rico Group (reported by CEE Legal Matters on May 9, 2023) had closed.
Binder Groesswang, working with Willkie Farr & Gallagher, has advised French investment company Wendel and other shareholders on their sale of Constantia Flexibles to One Rock Capital Partners. Wolf Theiss, working with Latham & Watkins, advised One Rock. Hamburg's Klawitter Neben Plath Zintler reportedly advised Wendel as well.
PHH and Dentons have advised Kommunalkredit on a EUR 37.5 million financing for the 63-megawatt Senyo photovoltaic plant in Hungary. CMS reportedly advised the project's commissioners, Green Source and Core Value Capital.
The public procurement tool is intended to prevent foreign subsidies (as defined in Art. 3 FSR) from distorting competition in the internal market. This happens when companies are able to submit unduly advantageous bids that drive competitors unsupported by state funds out of the market, for example because they are subject to the strict prohibition of intra-EU State aid under Art. 107(1) TFEU. The need to counteract market-distorting subsidies from third countries is "particularly pronounced" in public procurement, since public contracts are financed with taxpayers' money.
By 25 June 2023, the transitional provisions of the Collective Redress Directive should have been applicable throughout the EU. Austria – like several other EU Member States – did not meet this deadline. The following article deals with potential transposition options, for the Collective Redress Directive, by the Austrian legislator.