On 18 April 2023, the EU Parliament approved the provisional political plan to reduce CO2 emissions in the EU agreed on by the Council and the European Parliament on 18 December 2022. This plan is based on proposals of the "Fit for 55" package presented by the European Commission in 2021 to reduce the EU's net greenhouse gas emissions by 55 % compared to 1990 levels by 2030 and to achieve climate neutrality by 2050.

Schoenherr has advised joint lead managers Erste Group Bank, Intesa Sanpaolo, Landesbank Baden-Wuerttemberg, Landesbank Hessen-Thueringen Girozentrale, Natixis, and TD Global Finance on Erste Group Bank's EUR 1 billion issuance of 3.125% mortgage Pfandbriefe due October 14, 2027. Wolf Theiss advised Erste.

A new promotion round saw 62 lawyers become Partners at CMS – spanning 25 cities across the UK, Europe, the Middle East, Africa, and Latin America – including Arno Zimmermann, Hans Lederer, and Klaus Pateter in Vienna, Alicja Zalewska-Orabona in Warsaw, and Mihai Jiganie-Serban in Bucharest.

BPV Huegel, working with Fieldfisher, has advised Next Generation Invest on its acquisition of a low-energy building in Vienna's Donaustadt district.

Taylor Wessing Counsel Tugce Yalcin – who joined the firm in March 2023 from DLA Piper – will head the firm's newly established CEE Turkish Desk in Vienna.

Schoenherr has advised Austrian shared-mobility start-up UBIQ on its series A financing round.

As Lexpo – The Legal Innovation Event returns in 2023 after a three-year hiatus, showcasing the latest trends in legal innovation in Continental Europe, CEELM spoke with Dentons Europe Director of Innovation and Member of Lexpo's Advisory Board Andrea Miskolczi to gain an insight into the current state of technology and innovation in CEE, and what the event's attendees have to look forward to.

Austria-based Helml Rechtsanwaelte has become part of Los Angeles-based Aliant Law.

Former Schwarz Schoenherr Partner Thomas Adocker has joined Taylor Wessing in Vienna as a Partner.

The Koutalidis law firm has advised the National Bank of Greece on the dual listing of Austrian company Austriacard Holdings on the Athens Exchange and the Vienna Stock Exchange.

Herbst Kinsky has advised Mangrove Capital Partners on leading a EUR 6 million series-A financing round for accounting automation company Finmatics.

Wolf Theiss, working with Freshfields’ Frankfurt office, has advised Alpen Glasfaser on a EUR 417.5 million financing from a consortium including UniCredit Bank Austria, KfW IPEX-Bank, La Banque Postale, Erste Group Bank, Natixis, and Hypo NOE. Binder Groesswang, working with Clifford Chance’s Frankfurt office, advised the banks.

CMS has advised the Alpla Group on establishing a pharmaceutical packaging market joint venture with Spain's Inden Pharma.

Schoenherr has advised joint lead managers Danske Bank, DekaBank Deutsche Girozentrale, Erste Group Bank, Natixis, Raiffeisen Bank International, and UniCredit Bank on the EUR 500 million issuance by Volksbank Wien of 4.750% green ordinary senior eligible notes due March 2027. Wolf Theiss advised Volksbank Wien.

The first article in this series looked at the background to energy crisis law and its implication for the proposed single market emergency instrument (SMEI) (for further details, see "Insight into regulatory crisis instruments to solve crises in European Union").

E+H, working with Gibson Dunn & Crutcher, has advised Solenis on its acquisition of Diversey Holdings.

Did You Know that, according to the Activity Rankings function of the CEELMDirect website, only seven lawyers have worked on more than one reported Austrian real estate deal over the past 12 months?

Schoenherr has advised OMV on establishing a geothermal energy joint venture with Wien Energie. Schima Mayer Starlinger reportedly advised Wien Energie.