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19/07/2024
Commission Delegated Regulation on sustainability disclosures for STS se­cur­it­isa­tions...
IntroductionThe Commission Delegated Regulation, supplementing Regulation (EU) 2017/2402 (the “Se­cur­it­isa­tion Reg­u­la­tion”[1]), entered into force on 8 July 2024 (the “Commission Delegated Regulation”...
19/07/2024
A healthy balance between novelty and sufficiency for a claimed therapeutic...
The question of novelty and sufficiency of second medical use claims in light of clinical trial prior art has been addressed by the EPO Boards of Appeal on a number of occasions. In recent decision T...
18/07/2024
CMS advises Mutares on the sale of Balcke-Dürr Nuklear Service to Cyclife...
Munich, 18.07.2024 – The listed private equity company Mutares SE & Co. KGaA has successfully sold the Balcke-Dürr Nuklear Service GmbH to the Cyclife Germany GmbH, a company of the EDF Group. Mutares had acquired the company from the American SPX Corporation in 2016. As a former part of Mutares' NEM Energy Group, the exit is in line with the strategy of the NEM Energy Group to focus in particular on the area of heat transfer technology in the future. The transaction marks Mutares' fourth exit in 2024. The parties involved have agreed not to disclose further details of the transaction.A CMS team led by Dr Michael Wangemann and Dr Christoph Küster provided comprehensive legal advice to Mutares on this transaction. The long-standing client relationship between CMS and Mutares goes back many years. Most recently, CMS advised the investment company Mutares on the acquisition of Magirus from the Iveco Group. CMS Germany Dr Michael Wangemann, Lead Partner Dr Christoph Küster, Co-Lead, Counsel  Jonas Ohmann, Associate, all Corporate/M&A Inhouse Legal Mutares Jan Thöle, General Counsel Inhouse Tax Mutares Denis Ahluwalia, Head of Tax Balcke-Dürr Tobias Bank, Head of LegalPress Con­tact presse@cms-hs. com
18/07/2024
CMS advises listed Mutares on acquisition of KmB Technologie GmbH
Munich, 18.07.2024 – The listed private equity investment company Mutares SE & Co. KGaA has completed the acquisition of KmB Technologie GmbH from EMAG Industrial GmbH and Scherer Holding GmbH. The acquisition further strengthens the FerrAl United Group, to which the KmB Technologie GmbH belongs.A CMS team led by Partner Dr Michael Wangemann and Counsel Dr Christoph Küster provided comprehensive legal advice to Mutares on this transaction. Mutares regularly relies on the advice of teams headed by CMS Partner Wangemann, most recently on the agreement to acquire Magirus from the Iveco Group. KmB Technologie, based in Zerbst, manufactures high-quality workpieces, including high-precision turned and milled parts used in steering systems, transmissions and chassis of various automobile manufacturers. In 2023, the company generated a turnover of around 50 million euros with 250 employees. CMS Germany Dr Michael Wangemann, Lead Partner Dr Christoph Küster, Counsel, Co-Lead Jonas Ohmann, Associate, all Corporate/M&A Inhouse Legal Mutares Jan Thöle, General Counsel Inhouse Tax Mutares Denis Ahluwalia, Head of TaxPress Con­tact presse@cms-hs. com
18/07/2024
CMS advises on inaugural Esports World Cup
Cologne, 18.07.2024 – A mul­tijur­is­dic­tion­al team from international law firm CMS has advised the Esports World Cup Foundation on the organisation of the first Esports World Cup (EWC), taking place over eight weeks in July and August 2024 in Riyadh, Saudi Arabia. The Esports World Cup is more than just another tournament — we’re watching esports history unfold in real-time. Over 1,500 esports players (and more than 60 nationalities) are competing in Riyadh across 21 of the best games in the world for a share of the record-breaking $60 million prize pool.“The Esports World Cup is a major moment in esports history,” said Ralf Reichert, CEO, Esports World Cup Foundation. “It’s a historic culmination of two universal languages, gaming and sports, to unite the global community across games, leapfrog the esports industry and drive growth across the entire ecosystem.”Dr Pietro Graf Fringuelli and Samuel Oustayiannis led a global CMS-team of over 30 lawyers. The firm is providing full legal support for all aspects of the EWC, including all agreements with the teams, the rulebook for the EWC and all associated regulations for the participation at the EWC, all sponsorship agreements, media rights and partnership agreements as well agreements with publishers. CMS Germany Partner and Co-Head of the CMS Technology, Media & Communications Group, Dr Pietro Graf Fringuelli comments: “The esports industry continues to grow at a staggering rate and attracts records numbers of viewers around the world. The EWC will change the entire esport and will help to develop a sustainable eco­sys­tem.”An­nounced in late 2023, the Esports World Cup is an annual tournament series attracting over 450 teams worldwide. It also secures major sponsorships from brands such as Sony, TikTok, Amazon, Adidas, Pepsi and MasterCard. Designed for both professional esports players and gaming enthusiasts, the tournament consists of televised and streamed events across 21 different games, including League Of Legends, Call Of Duty: Warzone, Counter-Strike 2, EA Sports FC 24, and Fortnite. CMS Partner Sam Oustayiannis led the UK team working on the media rights and partnerships. He adds: “The Esports World Cup is an unparalleled event, which attracts interest from a wide range of parties, from competitors to sponsors and the media. We were able to coordinate a close working team across our various practices and offices to ensure that all legal aspects were covered to make it a successful event to be enjoyed by all. We can’t wait to see what the future brings for the Esports World Cup!” CMS Germany Dr Pietro Graf Fringuelli, Lead Partner Dr Sebastian Cording, Partner Dr Markus Häuser, Partner Dr Patrick Ehinger, Counsel Dr Fiona Savary, Counsel Dr Felix Glocker, Senior Associate Georg Schneider, Senior Associate Lara Grünberg, Associate, all TMC Dr Malte Bruhns, Partner Dr Henrik Meurer, Associate, both Corporate/M&A Dr Martin Gerecke, Partner Dr Tobias Nasr, Senior Associate, both IP Dr Robert Budde, Partner Phillip Bubinger, Counsel, both Commercial Prof. Dr Björn Gaul, Partner Victoria Kaule, Counsel Hanna Hamacher, Senior Associate, both Labor, Employment & Pensions Thomas Gerdel, Partner Dr Hendrik Arendt, Senior Associate, both Tax Christoff Soltau, Partner Dr Denis Schlimpert, Counsel, both Antitrust, Competition & Trade CMS Saudi Arabia Mohammed Aldowish, Partner Wala Alawajy Sara Alsaud Reem Alsmail CMS UAE Ben Gibson, Partner CMS UK Sam Oustayiannis, Partner Rebekah Hayes, Partner Coralie Barker Georgia Clark Harry Hall Laurel O’Dell Carter Rich Hamish Temporal Daniel WestPress Con­tact presse@cms-hs. com
17/07/2024
CMS advises walter services GmbH on the acquisition of Sky Deutschland...
Cologne, 17.07.2024 – walter services GmbH has acquired Sky Deutschland Customer Center GmbH from Sky Deutschland Fernsehen GmbH & Co. KG. The Sky Group is part of the international Comcast Corporation.A CMS team headed by Dr Petra Schaffner advised walter services GmbH on all legal aspects of this transaction. As the target company had to be spun off from the Comcast Group, the focus of the advice was on drafting a complex contract. CMS has been advising the walter services group and its CEO, Meinolf Brauer, for many years. This has included advising on restructurings and the acquisition of various service centers from, for example, Deutsche Telekom, SEB Bank, Unity Media and Dumont. Press Con­tact presse@cms-hs. com
15/07/2024
CMS European Private Equity Study 2024
We are pleased to share with you the 2024 edition of the CMS European Private Equity Study, a comprehensive analysis of hundreds of private equity deals CMS advised on across Europe in 2023 and previous...
12/07/2024
Energy and climate change: The most significant (marine) climate change...
Continuing the theme of a number of recent court judgment regarding state and party obligations concerning climate change issues, the International Tribunal for the Law of the Sea (“ITLOS”) has recently...
12/07/2024
EU’s AI Act published in Official Journal, transition periods now known
Following the adoption of the "Regulation laying down harmonised rules on Artificial Intelligence" (AI Act) by the European Parliament and the Council of the European Union, this act was published in...
12/07/2024
Real estate finance law in Germany
A. Mortgages 1. Can Security be granted to a foreign lender? Yes. In general, there are no restrictions on the ownership of land or the taking and enforcing of security rights by a foreign party. 2...
12/07/2024
International arbitration law and rules in Germany
German State Courts are arbitration friendly. The jurisdiction for almost all arbitration related issues is concentrated at the Higher Regional Courts. Their attitude is to support arbitration proceedings...
11/07/2024
Looking ahead to the EU AI Act
On 12 July 2024, the "Regulation laying down harmonised rules on artificial intelligence" (the so-called AI Act) was published in the Official Journal of the European Union. After a long and complex journey that began in 2021 with the European Commission’s proposal of a draft AI Act, the regulation will now enter into 20 days after its publication, i.e. on August 2, 2024. As the world's first comprehensive law to regulate artificial intelligence, the AI Act aims to establish uniform requirements for the development and use of artificial intelligence in the European Union. With this adoption of the world’s most significant legislation on Artificial Intelligence, the EU is solidifying its position as a pioneer among global legislators. This initiative aims to establish and reinforce the EU’s role as a premier hub for AI while ensuring that AI development remains focused on human-centered and trustworthy principles. The AI Act aims to ensure that the marketing and use of AI systems and their outputs in the EU are consistent with fundamental rights under EU law, such as privacy, democracy, the rule of law and environmental sustainability. Adopting a dual approach, it outright prohibits AI systems deemed to pose unacceptable risks while imposing regulatory obligations on other AI systems and their outputs. The new regulation, which also aims to strike a fair balance between innovation and the protection of individuals, not only makes Europe a world leader in the regulation of this new technology, but also endeavours to create a legal framework that users of AI technologies will be able to comply with in order to make the most of this significant development opportunity. In this article we provide a first overview of the key points contained in the text of the AI Act that companies should be aware of in order to prepare for the implementing regulation.