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CMS Advises eFriends on Sale of 24% Stake to Raiffeisen Ware Austria

CMS Advises eFriends on Sale of 24% Stake to Raiffeisen Ware Austria

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CMS has advised green electricity provider eFriends on the sale of a 24% stake to RWA Raiffeisen Ware Austria.

Financial terms were not disclosed.

According to CMS, the transaction has been described as “forward-looking” in the energy sector, and the firm reported that it “provides important impulses to further promote the sustainable production and distribution of regional solar electricity in Austria.”

The eFriends company enables “direct exchange and sale of solar power on a private basis,” reports CMS. “Users can share self-produced surplus solar power with other users in real-time. All that is required is the 'eFriends Energy Control,' which is simply installed in the distribution panel. With 500 participating households, eFriends is currently the largest (private) energy community in Austria.”

CMS’s team included Partner Johannes Trenkwalder, Attorney Georg Gutfleisch, and Senior Associate Sanela Fuerstenberg.

CMS did not reply to our inquiry on the matter.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

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