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Freshfields has advised Midea Group subsidiary Midea Electrics Netherlands on its EUR 750 million acquisition of the climate division from Arbonia AG. BDK Advokati advised Midea on the local aspects of the acquisition of Serbian company Termovent, as part of the broader transaction. Baker McKenzie advised Arbonia.

The latest DLA Piper GDPR Fines and Data Breach Survey provides a comprehensive overview of data protection enforcement trends across Europe, including the Central and Eastern European (CEE) region. CEE countries are in the mid-range in terms of total GDPR fines imposed since the regulation became applicable in 2018 and for last year, but enforcement activity is steadily increasing. Here are the latest trends and legal developments in Austria, the Czech Republic, Hungary, Poland, Romania, and Slovakia.

The Austrian Beneficial Owners Register Act (BORA) requires certain legal entities to report their ultimate beneficial owners (UBO) recurringly, at least once a year and whenever changes occur in an entity's UBO.

BPV Huegel has advised Eavista on the acquisition of 75.1% of the shares in Card Complete Service Bank from UniCredit Bank Austria and Raiffeisen-Invest-Gesellschaft. Binder Groesswang advised Raiffeisen Bank. Dorda reportedly advised UniCredit Bank Austria.

As part of the EU Gas and Hydrogen Package, Directive (EU) 2024/1788 of 13 June 2024 ("Internal Gas Market Directive; IGMD") makes provisions for the first time on the phase-out of gas by network operators through the decommissioning of gas networks. Article 57 IGMD stipulates that gas distribution system operators ("DSO") must develop network decommissioning plans ("NDP") if a reduction in natural gas demand is foreseeable. The competent national authorities assess whether the NDP for the distribution network meets the principles set out in the IGMD.