The Austrian government has recently enacted the Start-Up Promotion Act to nurture its start-up ecosystem and enhance employee participation in corporate growth. Wolf Theiss Partner Hartwig Kienast analyses how this legislation integrates with Austria’s existing legal framework and its implications for start-ups, employees, and the broader economic landscape.

Schoenherr has advised Euro Real Estate Holding on the indirect acquisition of the City Tower Vienna via United Benefits Holding from Immofinanz. Reportedly, Jank Weiler Operenyi advised Immofinanz and Wolf Theiss advised UniCredit Bank Austria.

The requirements for the Whistleblowing Officer’s (WO) role are covered by various guidelines that have been published by the Slovak Office for Protection of Whistleblowers over the past several months. The multitude of information sources now requires clarification, as the role of the WO leading internal investigations of reports is becoming increasingly prominent. 

Former Schoenherr Local Partner Gergely Szaloki has joined Wolf Theiss to co-lead the firm's Banking & Finance in Budapest. 

Wolf Theiss has advised the Arkema Group on its acquisition of a nearly 78% stake in ionic liquid start-up Proionic.

Dorda, working with Wilson Sonsini, has advised fintech company IXOPAY and shareholders Rene and Nathalie Siegl on the merger with US cloud tokenization provider TokenEx. Wolf Theiss, working with US-based Morris Manning & Martin, advised TokenEx.

Clifford Chance, working with Jalsovszky, has advised a club of banks led by Ceska Sporitelna on the financing for CVC Capital Partners and Emma Capital's acquisition of Packeta (reported by CEE Legal Matters on January 9, 2024). Wolf Theiss advised Packeta.

Wolf Theiss has advised Budapest Municipality-owned BKM Budapest Public Utilities Nonprofit on its acquisition of E.On Hungaria's 50% stake in BDK Budapest Decorative and Public Lighting.

Kinstellar has advised the United Energy Group on its acquisition of Green Profit – the company developing the 250-megawatt Simeonovgrad-Polyanovo photovoltaic project. Wolf Theiss advised Delcho Nikolaev Pehlivanov on the sale.

Wolf Theiss, working with Gleiss Lutz, has advised Bausparkasse Schwaebisch Hall, Wuestenrot & Wuerttembergische, and Bausparkasse Wuestenrot on their sale of a 76.35% participation in Fundamenta-Lakaskassza to MBH Bank. DLA Piper advised MBH Bank.

The recent judgement of the Court of Justice of the European Union (“CJEU”) on the sale of over-the-counter (OTC) medicinal products online (C-606/21, decision published on 29.02.2024) may have a direct impact on the existing Hungarian legislation and established market practice.

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.

Schoenherr has advised joint lead managers Danske Bank, Erste Group, ING, Natixis, and UBS on Volksbank Wien's EUR 500 million issuance of notes. Wolf Theiss advised Volksbank Wien.

Did you know that the CEE Q1 leaderboards are available through the Activity Rankings function of the CEELMDirect website?

Wolf Theiss, working with Clifford Chance, has advised Allianz Bank Bulgaria on the review, negotiations, and regulatory compliance of a synthetic securitization agreement with the European Investment Bank Group.

The adoption of the Artificial Intelligence Act means a wide range of responsibilities for tech businesses in the European Union. This article guides through the new regulatory framework and its practical implications.

Since early 2024, Hungarian legislative efforts have brought about several updates to consumer protection regulations. Ranging from novelties in consumer complaints and related processes, increased consumer protections fines, expanded rights of the consumer protection and competition authority to an unexpected obligation imposed on e-commerce providers to include the local postal delivery provider as a delivery option, changes to the sector have been diverse.

The governmental decree published on 22 February (No. 33/2024 (II. 22.)) sets forth the establishment of a new project company to manage the provision of inpatient pharmaceuticals in all public hospitals, as well as those private hospitals that choose to join the initiative. The Decree is a follow up to the amendments in the Medicines Thrift Act (Act XCVIII of 2006) from July 2023, which stipulated the basic conditions for a “unified institutional pharmacy service” for public hospitals. The project company shall be operational from January 2025.