Kinstellar has advised Banque Federative du Credit Mutuel on the acquisition of BNP Paribas’s Hungarian subsidiary Magyar Cetelem Bank. Wolf Theiss advised BNP Paribas.

Wolf Theiss has advised the International Finance Corporation on a EUR 75 million anchor investment in Voestalpine green notes.

BPV Huegel has advised Immofinanz on the acquisition of a further approximately 38% stake in S IMMO via a share acquisition from CPI Property Group for EUR 608.5 million. Wolf Theiss advised CPI Property Group.

The right to disconnect entitles employees not to be at the employer’s disposal during rest periods and other justified absences.

Effective from 1 January 2025, Croatia will introduce a new property tax law. This new law will replace the current vacation home tax and apply to all residential properties, with certain exemptions. Local governments will institute the new law and set tax rates within a specified range by taking into account property characteristics and other factors.

There’s a new windfall value-added tax (“VAT”) reclaim opportunity in Hungary based on a recent judgment of the Court of Justice of the European Union (“CJEU”).

The amended Rules of Proceedings (hereinafter referred to as the “Rules of Proceedings”) of the Permanent Court of Arbitration attached to the Hungarian Chamber of Commerce and Industry (hereinafter referred to as the “Arbitration Court”) came into force on 15 September 2024. The amended rules are to be applied in arbitration proceedings initiated on or after the date of its entry into force.

Wolf Theiss has promoted former Counsels Andreea Zvac, Oleg Temnikov, Stefan Horn, and Alexander Zollner to Partner.

Schoenherr has advised Danske Bank, Erste Group, ING, Natixis, and UBS, on Volksbank Wien’s invitation to existing holders of their outstanding EUR 400 million 2.75% fixed to fixed tier 2 notes with an interest rate reset date on October 6, 2022 to tender their notes for purchase by the company for cash. Schoenherr also advised the banks on the successful issuance of EUR 500 million 5.5% Volksbank Wien’s subordinated notes issuance. Wolf Theiss advised Volksbank Wien.

Wolf Theiss, working with Jeantet, has advised Ancala on the acquisition of Elektrana Grubisno Polje from Akuo Energy. Divjak, Topic, Bahtijarevic & Krka reportedly advised Akuo Energy.

Wolf Theiss has advised on the reorganization of Oerlikon’s nitriding business in Slovakia via a spin-off of the business into a standalone legal and operational entity.

Centered around a high-profile public takeover attempt the Austrian market saw this summer, Wolf Theiss Partner Florian Kusznier shares his insights into the country's market landscape, the complexities of recent M&A activities, and the trends shaping Austria’s economic environment.

Wolf Theiss has advised Sekyra Group on the sale of a real estate project in Prague to Banka Creditas.

Wolf Theiss, working alongside Ropes & Gray, has advised Audax Private Equity on its acquisition of Avantor’s Clinical Services business.

Wolf Theiss, working alongside Clifford Chance, has advised Cellnex Telecom on the EUR 803 million sale of its Austrian telecommunications tower assets to a consortium comprising Vauban Infrastructure Partners, EDF Invest, and MEAG. Schoenherr, working with the Paris and London offices of Hogan Lovells, advised the buyers.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With managing firm clients being a critical aspect of firms’ operations, we asked: What are the three most important elements when onboarding a new client?

In export-import trade transactions across Europe, sellers commonly protect their assets by retaining the title of ownership until the buyer has paid the full purchase price. Retention of title allows sellers to reclaim the assets in case of non-payment or the buyer’s bankruptcy before full payment. However, in Hungary, such an arrangement can present unexpected challenges for sellers.