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press release

Austria: Schoenherr advises Raiffeisen on EUR 538m securitisation of leasing receivables

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press release

Czech Republic: Schoenherr advises APS on refinancing of public bonds issue

Schoenherr advised APS, a leading group in non-performing loan portfolio servicing and NPL investment advisory activities in the CEE and SEE region, on the refinancing of the existing indebtedness under CZK 620m  (approx. EUR 24m) public bonds traded on the Prague Stock Exchange, by way of a loan facility from UniCredit Bank Czech Republic and Slovakia, a.s.

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press release

Bulgaria: Schoenherr advises United Group on acquisition of Net1 and N3

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publication

to the point: Finance | Q1 2021

Welcome to our newest edition of Schoenherr's quarterly to the point: finance newsletter!

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press release

24 February 2021

romania

M.Florea M.Piuk

Romania: Schoenherr advises Elevator Ventures on seed round investment in fintech start-up Finqware

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roadmap

Bulgaria and Croatia join ERM II and the Banking Union

On 10 July 2020 the Bulgarian lev and the Croatian kuna were included in the Exchange Rate Mechanism II (ERM II). In the short term this means that the inclusion would support the confidence and credit ratings of the two countries while in the long term – this is an important milestone in Bulgaria and Croatia's efforts to join the euro area.

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publication

20 January 2021

austria

C.Moser

BörseG 2018/MAR

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publication

19 January 2021

austria

C.Moser S.Stegbauer

Kuratorengesetz | Kuratorenergänzungsgesetz Kommentar

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media coverage

07 January 2021

bulgaria

T.Krumov

Recommended Benchmark Replacement Clauses for Credit Agreements with Bulgarian Borrowers

CEE Legal Matters | Bulgaria

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newsletter

The impact of the amendment to the Business Corporations Act on credit financing

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newsletter

18 December 2020

M.Ebner H.Bellando

European Commission publishes its non-performing loans strategy in response to the COVID-19 crisis

On 16 December 2020 the European Commission (ECOM) presented its strategy to prevent a future build-up of non-performing loans (NPLs).

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publication

to the point: Finance | Q4 2020

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press release

09 December 2020

austria

M.Ebner M.Pressler

Austria: Schoenherr advises Hypo Vorarlberg on EUR 330m synthetic securitisation to boost energy-efficient buildings

Schoenherr advised Hypo Vorarlberg on the synthetic securitisation of a EUR 330m portfolio of loans to small and medium-sized enterprises, corporate borrowers or certain private individuals. The transaction is designed to achieve regulatory capital relief under CRR (II) / CRD IV (V). The transaction builds upon a similar securitisation completed with Schoenherr's support at the end of 2017. It is a part of the European Investment Bank's response to support the Austrian economy following the COVID-19 pandemic.

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publication

The International Comparative Legal Guide to: Foreign Direct Investment Regimes 2021

The International Comparative Legal Guides provide current and practical comparative legal information on a range of practice areas, following a Q&A format to ensure thorough coverage of each topic within different legal systems worldwide.

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press release

Bulgaria: Schoenherr advises Enery on the acquisition and refinancing of the biggest solar park in Bulgaria

Schoenherr led Austrian renewable energy producer Enery to the completion of its acquisition of the largest photovoltaic park in Bulgaria. 

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press release

01 October 2020

austria

M.Pressler M.Lagler

Another promotion at Schoenherr: Matthias Pressler becomes Counsel

Matthias Pressler, member of Schoenherr's banking, finance and capital markets practice in Vienna, was promoted to counsel as of 1 October 2020. Pressler joined Schoenherr in 2015, and is an expert in financial services regulation, covering both transactional work as well as contentious and non-contentious regulatory advisory matters and administrative (criminal) proceedings. 

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press release

03 September 2020

bulgaria

T.Krumov

Bulgaria: Schoenherr advised major multinational banks on a EUR 90m syndicated credit facility to leading Bulgarian agribusiness company Oliva

Schoenherr advised BNP PARIBAS (Suisse) S.A. ("BNP") as a facility agent and lender; Citibank NA, London Branch as a lender; and Black Sea Trade and Development Bank as a lender, on the Bulgarian legal aspects of a EUR 90m syndicated credit facility extended to Oliva AD ("Oliva") and Buildcom EOOD ("Buildcom"), as well as on the establishment of a Bulgarian security package for the facility.

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press release

13 July 2020

slovakia austria

U.Rath

Austria: Schoenherr advises UNIQA on successful placement of EUR 600m senior and EUR 200m tier 2 green notes

Schoenherr advised UNIQA Insurance Group AG, one of the leading insurance groups in Austria and CEE, on its EUR 800m in aggregate notes issuances that closed on 9 July 2020.

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newsletter

16 June 2020

romania

M.Florea G.Bădescu

Romania: More state incentives for large investments on the horizon

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newsletter

15 June 2020

austria

M.Ebner

Nach der Krise ist vor der Krise

Haben Österreichs Banken hinreichend flexible Rahmenbedingungen, um die Realwirtschaft zu unterstützen?

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newsletter

21 April 2020

bulgaria

S.Ribanchova

Bulgaria: State aid in the age of COVID-19

During the COVID-19 outbreak businesses are facing the dilemma of whether to seek state aid or survive the crisis using their own resources.

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newsletter

06 April 2020

bulgaria

T.Krumov

Bulgarian Coronavirus Payment Moratorium and its effect on cross-border financial transactions

The Moratorium was not self-proclaimed by the Bulgarian Parliament as an overriding mandatory piece of law so the courts discretion in cross-border scenarios has been retained

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newsletter

Slovenia: Government anti-coronavirus support schemes for businesses

On 25 March 2020, the Government of Slovenia announced a EUR 2bln rescue package intended to mitigate the adverse and diverse effects of the COVID-19 pandemic. The package primarily seeks to maintain jobs by providing pay check support and tax relief to employers and introducing additional mechanisms to reduce the liquidity shock on businesses.

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newsletter

Financing in times of crisis - Austrian Chapter

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newsletter

20 March 2020

hungary

V.Palguta G.Szalóki

Hungary: Extraordinary measures impact the Hungarian banking sector

On 18 March the Hungarian prime minister announced extraordinary measures to be taken as a result of the national emergency caused by COVID-19. Most of these measures have a strong impact on the Hungarian economy; in particular, the banking sector.

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publication

to the point: Finance | Q1 2020

Welcome to our newest edition of Schoenherr's quarterly to the point: finance newsletter!

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press release

Schoenherr advises Kommunalkredit Austria AG on Czech and Slovak acquisition financing to Enery Development

Schoenherr advised Kommunalkredit Austria AG as arranger and original lender, on the Czech and Slovak acquisition financing provided to Enery Development for the acquisition of six 21 MW solar power plants in the Czech Republic and two 4 MW solar power plants in the Slovak Republic, from Czech fund Green Horizon Renewables.

 

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blog

25 February 2020

romania

Romanian fintech start-ups combine powers and create the first Romanian fintech association

For the last couple of years, the fintech industry has become of great interest in the Romanian entrepreneurial scene. Numerous Romanian start-ups or long-existing financial and IT companies have switched focus on what fintech means and on what it can bring to the table.

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newsletter

21 February 2020

hungary

G.Szalóki

Hungarian government settles pharma debts: An opportunity for factoring companies? | Hungary

Hungarian hospitals are facing problems paying for drugs and medical devices. Many suppliers have claims worth millions of euros and are having difficulty enforcing them against either the hospitals or the Hungarian government.

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newsletter

06 February 2020

serbia

P.Kojdić

New Regulation for Derivatives Transactions with Sovereign Counterparty in Serbia | Serbia

According to the Public Debt Act (Zakon o javnom dugu) of the Republic of Serbia, the Minister of Finance manages the country's public debt by (i) entering into transactions that would reduce or eliminate currency risk, interest rate risk and other risks, (ii) deciding on the sale and purchase of foreign currencies, and (iii) managing cash balances on the Republic of Serbia's treasury accounts.

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roadmap

Secured lending CEE

With more and more players active in the corporate lending and secured finance markets across the CEE region, and multi-jurisdictional CEE transactions happening on a regular basis, counsels are challenged to navigate their clients through fragmented legal frameworks in various jurisdictions often with different sets of secured lending rules and must-knows.

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roadmap

Sustainable Finance – a trend to stay

With sustainable investment picking up globally, environmental, social and governance (ESG) considerations are gaining increasing importance in decision making and practices. Driven by the EU's need to close the approx. EUR 180bln per annum funding gap to achieve its climate and energy goals by 2030, sustainable finance has consistently risen in the policy agenda since 2018+.

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roadmap

Exchanging views on current trends in Legal Tech and financing transactions

Legal Tech is currently on everyone's mind and has also become a central topic in the context of financing transactions. While marketable applications for buzzwords such as "automated document generation" or "artificial intelligence" are often still in their infancy in the field of legal transactional advice, such applications can already make a significant contribution to the success of a transaction in the field of efficient process management, e.g. in connection with the satisfaction of conditions precedents under loan agreements.

 

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press release

15 November 2019

austria

T.Kulnigg

Austria: Schoenherr advises fintech start-up Credi2 on investment from Volkswagen Bank

Schoenherr advised Austrian company Credi2 GmbH on an investment from Germany's Volkswagen Bank, which will henceforth hold a 20 % share in Credi2.

 

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media coverage

07 November 2019

romania

C.Tudoraș

Analiză: ASF anunţă măsuri mai stricte de cunoaştere a clientelei

First published on Ziarul Financiar, 25.10.2019

După BNR, şi ASF vine cu măsuri mai stricte de cunoaştere a clientelei, de formalizare a procedurilor interne şi de derulare a evaluării riscului de spălare a banilor şi finanţare a terorismului, arată o analiză.  

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publication

to the point: Finance | Q4 2019

Welcome to our second edition of Schoenherr's quarterly to the point: finance newsletter!

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newsletter

13 August 2019

M.Simsa S.Hekelová

Spotlight on automotive industry: Introduction to the series and financing

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media coverage

22 July 2019

romania

N.Oprea

Interview with Narcisa Oprea from Schoenherr Bucharest

First published on BizLawyer, 17.07.2019

Directiva europeană privind drepturile acționarilor trebuia transpusă în legislația românească până la jumătatea lunii iunie 2019 | Narcisa Oprea, Partener Schoenherr: Chiar dacă directiva nu a fost transpusă încă, existând doar un proiect de lege în acest sens, clienții noștri se pregătesc din vreme pentru conformare, dată fiind anvergura schimbărilor

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press release

19 July 2019

czech republic

V.Čížek

Czech Republic: Schoenherr advises BNP PARIBAS on EUR 345m SNOP Dunois S.A. acquisition financing

Schoenherr Czech Republic advised BNP PARIBAS ("BNPP") on the EUR 345m term and revolving facilities agreement for Financiere SNOP Dunois S.A. in relation to its acquisition of manufacturing facilities from Tower International, Inc. Schoenherr acted as local counsel to BNPP.

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publication

to the point: Finance | Q3 2019

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newsletter

25 June 2019

austria

P.Feyl

First decision by Austrian Supreme Court on cash pooling: No blank cheque for banks but some relief

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media coverage

20 June 2019

austria

M.Ebner

Benchmarkwechsel mit Hindernissen

First published on Der Standard, 20.06.2019

Als Folge der Libor-Affäre sollen die für viele Finanzgeschäfte so wichtigen Interbank Offered Rates (Ibors) ersetzt werden. Doch der Übergang zu einem neuen Referenzzinssatz schafft zahlreiche Probleme – auch für Unternehmen.

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newsletter

Public liability based on incorrect land register entries is limited

Incorrect land register entries may trigger public liability. But in a recent decision the Austrian Supreme Court (1 Ob 198/18a) held that incorrect land register entries can only constitute public liability claims for a certain group of people.

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newsletter

19 May 2019

romania

M.Neagu

Exit strategies: registering a share transfer when target shares are encumbered by third parties

The stock market's flexibility is its greatest selling point for publicly traded companies, as it allows a fast flow of capital while still enabling majority shareholders to implement fundamental corporate changes should they wish to exit the market.

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publication

LEXOLOGY Getting the Deal Through: Secured Lending

Find the full comparative guide on Secured Lending on the LexGTDT tool. Here you can find the answers for Austria.

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newsletter

Antitrust and Syndicated loans

In 2017 the Directorate-General for Competition of the European Commission (DGCOMP) kicked-off a process to examine loan syndication.

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press release

25 February 2019

romania

M.Florea S.Guţiu

Schoenherr announces new firm-wide heads of banking, finance & capital markets and real estate practice groups

Schoenherr promotes Sebastian Gutiu (managing partner, Romania) and Matei Florea (partner, Romania) to new firm-wide heads for real estate, and banking, finance & capital markets, respectively.

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roadmap

Terms of a loan – set in stone?

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roadmap

Looking beyond the margin: non-financial matters to keep in mind when negotiating corporate debt documentation

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media coverage

13 January 2019

austria

M.Ebner

No-Deal-Brexit bringt Finanzierungsrisiken

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newsletter

18 December 2018

hungary

G.Szalóki

Hungary remains strict on factoring

Factoring is an increasingly popular product of banks that appeals to corporate clients of whatever size as it provides liquidity to the clients and stable cash flow.  The factoring is usually structured in a way that the vendors of the client do not receive information on the factoring, the bank stays in the background; the relationship between the client and its vendor remains intact.  In practice, this means that the client continues to collect the amounts the vendor owes, although such amounts do not belong to the client anymore.  Also, it is not uncommon that even the soft workout stage stays with the client in case the vendor is in delay with its payment obligation; i.e. the client will be obliged to chase its vendor for the money.

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newsletter

15 November 2018

bulgaria

T.Krumov

Bulgaria: New legal framework for repo transactions and derivatives with pension funds

The amendments provide new business opportunities to banks to enter into repo transactions and derivatives with Bulgarian pension funds.

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newsletter

29 October 2018

austria

U.Rath T.Kulnigg

Österreich: Ab 2019 vereinfachter Kapitalmarktzugang für KMU, Wachstumsunternehmen und Startups durch Öffnung des Dritten Markts

Am 25.10.2018 hat der Nationalrat die seit langem erwartete Änderung des Aktiengesetzes beschlossen, die den Zugang von österreichischen Gesellschaften, insbesondere von KMU, Wachstumsunternehmen und Startups, zum Kapitalmarkt erleichtern soll.

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press release

17 October 2018

austria

U.Rath P.Feyl

Austria: Schoenherr advises listed German Aves One AG on financing of NACCO/CIT acquisition

Schoenherr, acting as lead counsel for the financing, successfully advised Aves One AG ("Aves") on the financing of the acquisition of the NACCO/CIT Group. 

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press release

02 October 2018

romania

S.Guţiu

Romania: Schoenherr awarded by leading business journal Ziarul Financiar

choenherr si Asociatii was recognised for its outstanding transaction advice in the financial services sector in 2017 by Romania's leading business journal Ziarul Financiar. 

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press release

11 September 2018

austria

P.Feyl U.Rath

Austria: Schoenherr advises listed German Aves One AG on a EUR 155 million senior facility refinancing

Schoenherr successfully advised Aves One AG ("Aves One") on its EUR 155m senior facility refinancing by entering into a new facility agreement with significantly improved commercial terms arranged by a consortium of leading German banks. 

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newsletter

21 June 2018

bulgaria

T.Krumov

Bulgaria: Boost to creditors’ rights on pledged receivables

"Banks may now agree to collect pledged receivables prior to accelerating the secured debt under floating charges like security interests."
Tsvetan Krumov

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press release

07 June 2018

austria

R.Bachner

Schoenherr advises UniCredit on strategic Bancassurance partnerships with Allianz and Generali in CEE

Schoenherr has advised the UniCredit Group on establishing two exclusive strategic partnerships with Allianz and Generali for the distribution of insurance products for individuals and small-businesses in Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Romania, Serbia, Slovakia, and Slovenia announced on 5 June 2018 (see here)

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press release

28 May 2018

slovenia

Schoenherr advises on Avia Prime's strategic partnership with Hartenberg

Schoenherr has advised alongside Polish lead counsel Gessel on establishing a strategic partnership between Avia Prime and Czech investment firm Hartenberg Holding ("Hartenberg"). 

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press release

Schoenherr advises EVO Payments on strategic payments partnership with MONETA Money Bank

Schoenherr's financial services team in Prague advised EVO Payments International ("EVO") on the creation of a long-term strategic alliance with MONETA Money Bank ("MONETA") for payment acceptance services to the bank's retail customers.

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press release

27 April 2018

austria

C.Herbst

Austria: Schoenherr represents Austrian Core Shareholders on sale of majority shareholding in listed C-QUADRAT to HNA

Schoenherr has advised and represented the core shareholders of Cubic (London) Limited ("Cubic"), including San Gabriel Privatstiftung, and T.R. Privatstiftung, as indirect controlling stockholders in C-QUADRAT Investment AG ("C-QUADRAT"), on the sale of the majority shareholding in Cubic, and thus C-QUADRAT, to the HNA Group (International) Asset Management Co., Limited, Hong Kong ("HNA"). HNA is part of the HNA Group, a leading Chinese diversified industrial group. C-QUADRAT is an independent asset management company listed on the Vienna stock exchange.

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newsletter

18 April 2018

hungary

G.Szalóki V.Palguta

Hungary: Uncertainties related to ICOs and ITOs

Initial coin and token offerings (“ICO/ITO”) are innovative ways to finance startups similar to shares IPOs or crowdfunding. Startups may use these processes to raise funds with the aim of avoiding the rigorous regulation of the traditional capital-raising process.

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press release

23 March 2018

slovenia

B.Brežan

Schoenherr advises Slovenian ENI subsidiary on acquisition of Mestni Plinovodi

Schoenherr has advised Adriaplin d.o.o. ("Adriaplin"), the Slovenian subsidiary of Eni S.p.A., on the acquisition of Mestni Plinovodi d.o.o. ("Mestni Plinovodi"), a local natural gas distribution network operator and gas supplier, from a consortium of sellers consisting of gas distributors Ireti and ACSM-AGAM from Italy and Istrabenz Plini from Slovenia.

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press release

08 February 2018

romania

S.Guţiu

Schoenherr Bucharest scoops 5 ILO Client Choice Awards 2018

Schoenherr Bucharest received five out of nine Client Choice Awards from the International Law Office ("ILO") in 2018. 

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press release

20 December 2017

austria

P.Feyl

Schönherr berät B&C bei Gewährung einer Hybridkapital-Linie an Semperit AG Holding

Schönherr hat die B&C Holding GmbH ("B&C") bei der Gewährung einer Hybridkapital-Linie an die börsenotierte Semperit AG Holding ("Semperit") von bis zu EUR 150 Mio beraten. 

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press release

Schoenherr advises Deutsche Private Equity on acquisition of Euro-Druckservice

Schoenherr advised Deutsche Private Equity Management III ("DPE") on its acquisition of leaflet printing business Euro-Druckservice ("EDS") from a consortium of three company shareholders. 

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newsletter

07 November 2017

croatia

O.Kobsa*

DIP (supersenior) Financing in Croatian Insolvency

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press release

03 October 2017

romania

S.Guţiu

Romania: Schoenherr wins three awards from leading financial journal Ziarul Financiar

Schoenherr si Asociatii was honoured by Romania's leading financial journal Ziarul Financiar with three awards during the eight edition of the Business Lawyers' Gala organised by the newspaper on 27 September in Bucharest. 

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press release

19 July 2017

austria

U.Rath

Österreich: Schönherr berät EVN bei Verkauf ihrer Pensionskasse an VBV-Gruppe

Schönherr hat die börsennotierte EVN AG ("EVN") beim Verkauf ihrer betrieblichen Pensionskasse, der EVN Pensionskasse AG ("EVN Pensionskasse"), an die VBV-Betriebliche Altersvorsorge AG ("VBV") beraten.

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press release

Czech Republic/Hungary/Poland/Slovakia: Schoenherr advises AG FOODS and Coöperatief Avallon on settlement of minority shareholders' disputes and management buyout

Schoenherr advised AG FOODS Group ("AG FOODS") and Coöperatief Avallon MBO U.A. ("Coöperatief Avallon") on the settlement of minority shareholders' disputes and on a subsequent management buyout.

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press release

18 May 2017

austria

M.Ebner

Austria: Schoenherr advises Erste Group on Frauscher Sensortechnik leveraged buyout financing

Schoenherr has advised Erste Group Bank AG ("Erste Group"), one of the leading financial service providers in Central and Eastern Europe, on the financing of the leveraged buyout of Austrian sensor technology manufacturer Frauscher Sensortechnik GmbH ("Frauscher Sensortechnik") by New York-based Greenbriar Equity Group LLC ("Greenbriar").

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press release

Austria: Schoenherr advises RBI on merger with RZB - one of the largest corporate reorganisations in the Austrian banking sector

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press release

23 February 2017

austria

U.Rath

Austria: Schoenherr advises on first Austrian Equity Capital Markets transaction in 2017

Schoenherr has advised publicly traded, global sugar, starch and fruit processor AGRANA Beteiligungsverwaltungs-Aktiengesellschaft ("AGRANA") as issuer on its successful rights offering of 1,420,204 new shares, combined with a secondary offering of 500,000 existing AGRANA shares held by Südzucker AG, one of AGRANA's core shareholders. 
This is the first equity capital market ("ECM") transaction in the Austrian market in 2017, and the first deal of its kind in Austria following the entry into force of the European Market Abuse Regulation. The transaction had an overall deal volume of approximately EUR 192m.
 

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press release

Slovakia/Hungary/Poland: Schoenherr strengthens its CEE capabilities with three promotions

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