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Expertise
18/03/2024
Emerging Europe’s Energy Transition
CEE Legal Matters | 12 March 2024
15/03/2024
CMS advises Sfakianakis Group on the acquisition of Ajar Car Rental
Press release - 15 March 2024 CMS Austria has advised the Greek Sfakianakis Group on the acquisition of Ajar Car Rental GmbH from the Saudi Arabian Al Jomaih Group, providing comprehensive legal advice on the project. Ajar Car Rental GmbH is the master franchisee of Enterprise, National, and Alamo in Austria, serving rent-a-car customers across the country. During the acquisition, the CMS Austria team provided significant support and advice on all areas of the transaction, including due diligence, employment, regulatory compliance, intellectual property, banking and finance, data protection and competition. Alexander Rakosi (Partner, Corporate/M&A) led the CMS core transaction team, which further consisted of Christoph Birner (Associate, Corporate/M&A) and Thomas Liegl (Associate, Corporate/M&A). Alexander Rakosi comments: “We are very pleased to have successfully supported the Sfakianakis Group on its market entry into Austria and to have contributed to our client's continued growth in the automotive industry."The CMS due diligence team included Rebecca Herlitz (Associate, Corporate/M&A), Mariella Kapoun (Partner, Real Estate), Hans Lederer (Partner, Intellectual Property), Andreas Lichtenberger (At­tor­ney-at-Law, Data Protection), Caroline Pavitsits (Associate, Employment), Kai Ruckelshausen (Partner, Banking & Finance), Sheldon Sookdeo (Associate, Banking & Finance), Maximilian Uidl (Associate, Real Estate), Marlene Wim­mer-Nistel­ber­ger (Partner, Regulatory), Jens Winter (Partner, Employment) and Dieter Zandler (Partner, Competition), as well as legal trainees Roman Namestek, Ferdinand Sima and Mattias Torggler. PHH Rechtsanwälte, led by Rainer Kaspar and Philip Rosenauer, provided legal support to Al Jomaih. About Sfakianakis Group Founded in 1958, Sfakianakis Group is one of the leading diversified business groups in Greece, with a core focus on the Automotive, Industrial and Consumer Retail sectors. Headquartered in Athens, Greece, the Group is 100% family owned and employs over 1,500 individuals across 14 countries in Europe. Within the Automotive sector, the Group operates one of the largest automotive retail businesses in the region, the distribution businesses of BYD and Suzuki, a leading long-term leasing business (Executive Lease), and a rapidly growing Rent-A-Car business as the Master Franchisee of En­ter­prise-Na­tion­al-Alamo in 14 countries.
13/03/2024
Tax: A CEE Level of Intricacy
CEE Legal Matters | 12 March 2024
04/03/2024
CMS North Macedonia advises Linamar Corporation
Published on 4 March 2024
06/02/2024
CMS strengthens its teams in Vienna and CEE with another round of partner...
Press release - 6 February 2024
18/12/2023
CEE M&A Outlook: Steady As She Goes
Published on CEE Legal Matters | 12 December 2023
07/12/2023
CMS Partner Sonja Otenhajmer joined the YAAP Advisory Board
Sonja Oten­hajmer, Dis­pute Resolution Expert and Partner at CMS Austria, has been appointed as member of the Young Austrian Arbitration Practitioners (YAAP) Advisory Board.
05/12/2023
CMS launched Digital RegulationPress release | Hub providing a clear roadmap...
Press release - 05 December 2023On 28 November 2023 CMS has launched its Digital Regulation Hub, the most comprehensive resource for capturing key regulations, commentary, and guidance to assist with navigating the regulatory landscape within Europe and beyond. In the context of the European Union (EU) Commission's ‘A Europe fit for the digital age’ plan, organisations have experienced an onslaught of digital regulations over the past two years with more to come. These rules are pivotal for businesses, imposing legal obligations for fair competition, personal data protection, and responsible digital services across various industries. However, tracking and adhering to these regulations can be a challenging and overwhelming task for businesses. The Digital Regulation Hub provides a destination for guidance, materials, and events relevant to EU digital regulations and wider-reaching considerations. Johannes Juranek, managing partner and head of the regional TMC Group: “Our new Digital Regulation Hub, featuring a comprehensive tracker tool, is a game-changer for General Counsels, C-suite leaders, and key decision-makers. This resource is not just a repository of information; it is a dynamic platform which is regularly updated to reflect the latest developments. In an era where regulatory compliance is non-negotiable, our hub empowers businesses to navigate complexities, providing a vital tool for informed decision-making and strategic adaptation to evolving legal landscapes.” Comprehensive guidance for AI businesses A solid grasp of regulatory frameworks is very important for responsible business practices. The EU AI Act is about to become an essential piece of legislation shaping AI ethics in the European Union. Our dedicated info page within the Digital Regulation Hub provides a one-stop resource for companies to understand and comply with the EU AI Act. Non-compliance with the EU AI Act can result in significant fines, emphasising the importance of staying informed and adherent to these regulations. Martina Gavalec, senior associate and driving force behind the AI initiative for CMS Reich-Rohrwig Hainz: “Our Hub provides the latest and most comprehensive insights on AI regulations and their legal complexities. We are dedicated to helping organizations stay at the forefront of responsible AI development, deployment, and utilization. By centralizing critical insights and updates, our Hub empowers businesses to confidently navigate intricate regulations, foster trust, and commit to responsible AI practices. In an era where digital ethics are paramount, our Digital Regulation Hub is an essential resource for organizations aiming to seamlessly adapt to the ever-changing legal landscape and thrive.” Interactive Tracker The Digital Regulation Hub also features an interactive tracker tool which is regularly updated to reflect new developments and resources for General Counsel, C-suite leaders and key decision-makers. Grasping the opportunity in digital regulation Additionally, CMS has conducted an in-depth study on how businesses are responding to the uptick in digital regulation. The study seeks to highlight the perceived effects on innovation, competition, protection, and consistency across borders for companies operating in the following industries: plat­forms/in­ter­me­di­ar­ies, online intermediation services, content providers, life sciences & healthcare, energy & infrastructure, banking & finance and automotive.  The key findings of this study, which are available via the Hub, are: How businesses respond to regulation will determine their success in the digital age. 76% agree that only those who adapt to digital regulation will succeed in this new economy. 73% agree that acting quickly on new regulation is essential to keep pace with digital in­nov­a­tion.   Busi­nesses are underestimating the impact of the EU's non-personal data strategy. The EU is laying the foundations of a new data economy, but only: 9% consider non-personal data (NPD) to be ‘highly’ strategic to their business. 13% believe NPD regulation offers significant op­por­tun­it­ies.   AI regulation presents more opportunities than threats. 94% believe that AI regulation offers ‘sig­ni­fic­ant’ or ‘moderate’ opportunities, including the ability to compete on a safe playing field with legal certainty and security. 80% think AI regulation poses ‘sig­ni­fic­ant’ or ‘moderate’ commercial threats, suggesting some concerns of ‘over­reg­u­la­tion’.   The majority of in-house lawyers see digital platform regulation as a ‘sig­ni­fic­ant’ opportunity. 54% expect ‘sig­ni­fic­ant’ commercial opportunities to arise from digital platform regulation. This includes 71% of content providers, who have much to gain from regulation aimed at curbing the market power of recognised digital gate­keep­ers.   Most businesses have assessed the impact of digital regulation. Now it's time to act. 73% have taken steps to assess the risks of digital regulation. 63% have consulted external counsel. Only 36% have revised their digital transformation plans, despite looming deadlines. Falling behind schedule is simply not an option. Expert discussions In 2024, CMS will be hosting a series of roundtable discussions and webinars focused on exploring the digital regulation topic further. These events will encourage legal teams and decision-makers to assess the risks presented by the changing environment, and the commercial opportunities arising from ongoing regulations. In the meantime, please find more information on the events here.
28/11/2023
CMS | Empowering COP28 with comprehensive legal support
Press release - 27.11.2023Em­power­ing COP28 with comprehensive legal supportCMS will deliver broad-ranging legal pro bono support for COP28, which will be hosted by the United Arab Emirates from 30 November to 12 December 2023. The support includes sustainable finance, data privacy and security, trademark registration, brand protection, reputation management, event-related advice, UN-related partnerships, in­ter­gov­ern­ment­al cooperation, technology platforms for start-ups, and relevant agreements with global tech companies. The initiative is led by Dr. Döne Yalçın, partner and key member of the global CMS Sustainability and ESG leadership team. She is supported by Munir Hassan, partner and head of the CMS Energy & Climate Change Group, and more than 160 CMS colleagues from around the world. The project is strengthened by collaboration with stakeholders across the firm to ensure a comprehensive and effective approach. This achievement marks a significant milestone for the firm and reaffirms its commitment to climate action. As demonstrated by its engagement with the UN Global Compact, CMS actively contributes to the world's largest corporate social responsibility initiative. This commitment covers four key areas: the environment, human rights, labour and anti-corruption. CMS prioritises climate action, as evidenced by ambitious carbon reduction targets, and firmly believes that a successful transition to a more sustainable future requires thoughtful regulation that recognises its integral role in driving meaningful change. The Paris Agreement aims to reduce global emissions by 50% by 2030. As we approach the six-year mark, the gathering of government representatives, policymakers, NGOs, citizens, and businesses at COP28 will be crucial for assessing progress and developing plans to achieve this goal. Immediate and collaborative efforts across both the public and private sectors are essential to the success of these efforts. By empowering governments and businesses to live up to their responsibilities and by strengthening their capacity to deliver impactful change at scale, CMS is committed to building a better working world - one that is future-facing, sustainable, and inclusive. Dr. Döne Yalçın, managing partner, International Co-head of ESG and Sustainability, “It is a privilege and an honour for us to have been selected as a provider of legal services for COP28. This appointment is a testament to our commitment to embed sustainability in our DNA. We are excited to support an event that has the potential to create positive global change in addressing the climate crisis. Our approach aligns seamlessly with 'Unite, Act, Deliver' and demonstrates our unwavering commitment to advancing global sustainability efforts.”Learn more about COP28 UAE - United Nations Climate Change Conference
28/11/2023
CMS advises Alder Investment III
Press release - 23.11.2023Alder Investment III, a Nordic private equity fund, which focuses on the development of environmentally sustainable companies, recently closed a transaction to acquire a majority stake in Insort, a maker of high-tech imaging solutions for the food industry, used for optical sorting of food products. Alder was advised by CMS on all legal aspects and certain tax aspects of the trans­ac­tion. "Our ability to cover all relevant legal aspects of the transaction enabled us to provide highly specialised advice on a wide range of topics, which is particularly helpful for investment in a high-tech company. It has been a pleasure working with Alder on this transaction. Congratulations to all parties involved," said Peter Huber, Partner and Head of Corporate Transactions at CMS Vienna. The Corporate/M&A team consisted of lead partner Peter Huber, senior associate Marco Selenic and associate Livia Landskron. Tax structuring issues were handled by partner Sibylle Novak and senior associate Thomas Aspalter. Other team members who provided extensive due diligence and transaction documentation support were senior associate Jia Schulz-Cao (IP), partner Daniela Krömer and associate Shima Babanzadeh (employment), partner Marlene Wim­mer-Nistel­ber­ger (regulatory), partner Dieter Zandler and senior associate Vanessa Horaceck (competition). About Alder Alder is a Nordic investment fund with the aim of creating the best possible conditions for long-term development of environmentally sustainable technology and services companies. With a mix of industrial and financial expertise and with an interest in entrepreneurship as a driving force, Alder creates profitable growth in close cooperation with companies. For more information, visit www. alder. se. About Insort Founded in 2011, Insort GmbH is a global technology leader in vision solutions for the food industry. Insort GmbH focuses on the development, production and marketing of digital sorting and control systems based on its proprietary Chemical Imaging Technology (CIT®). CIT® is a hyperspectral imaging technology designed for maximum performance, which enables the classification of food products based on their chemical composition and is used in-line and in real time. In a very short time, Insort has managed to establish itself globally in the highly competitive digital sorting market with its successful machine series called Sherlock. The company currently employs around 60 people at three locations (Austria, USA, Canada). For more information, visit www. insort. at.
28/11/2023
CMS launches International Digital Regulation Hub providing a clear roadmap...
All businesses should be prepared to grasp the opportunities in digital regulation 
12/10/2023
CMS Reich-Rohrwig Hainz receives the Woman in Law Award 2023 for best Law...
12 October 2023 We are delighted to receive the Women in Law Award for Best Law Firm 2023, which confirms our ongoing commitment to diversity and equality in the legal industry. Our efforts to promote gender diversity, create a fair and inclusive working environment, and support initiatives such as the Ladies League have enriched our culture. Our CMS Diversity and Inclusion charter as well as our internal initiatives reflect our passion to promote women and diversity and to create an inclusive legal industry. We are grateful for this recognition and look forward to a future that is even more diverse, inclusive and sus­tain­able.    Spe­cial thanks to Future-Law, Women in Law Austria and the Association of Austrian Corporate Lawyers - VUJ for the award and to our Ladies League team: Denisa Brighton, Daniela Karollus-Bruner, Daniela Krömer, Jelena Nushol Fijačko, Andrea Potz, Maria Orlyk, Nedzida Sa­li­hovic-Whalen, Gabriela Staber, Marija Tesic and Döne Yalçın.