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21/06/2024
Publication of CRD6/CRR3: countdown to implementation of third country...
On 19 June 2024, the final texts of the EU banking package known as CRD6 and CRR3 were published in the Official Journal of the European Union. As covered in our earlier update, CRD6 introduces a new...
21/06/2024
AI Act signed – Top priorities you need to know now!
AI systems, whether offered as a product or as part of a product or used internally in a company's own business operations, will be regulated by the EU AI Act.
21/06/2024
CMS advises vehicles managed by Lazard Asset Management on acquisition...
London/New York/Duessel­dorf, 21.06.2024 – Vehicles managed by Lazard Asset Management acquire Collective Energy GmbH. Vehicles managed by Lazard Asset Management's Sustainable Private Infrastructure Fund (Lazard SPI) have executed a binding agreement to acquire 100% of the shares in Collective Energy GmbH, an Austrian company providing advisory services and solar generation solutions to commercial customers. An international CMS team led by CMS Partners Dr Sebastian Becker and Dr Peter Huber has advised Lazard Asset Management in every legal aspect of the transaction. The parties involved have agreed not to disclose details of the transactions. Press Con­tact presse@cms-hs. com
20/06/2024
ESAs propose improvements to the SFDR and suggests introducing categories...
BackgroundOn 18 June 2024, the three European Supervisory Authorities (EBA, EIOPA, and ESMA, collectively known as the ESAs) published an opinion (the Opinion) on the evaluation of the Sustainable Finance...
20/06/2024
CMS advises zvoove on entering French market by acquiring DirectSkills
Frankfurt/Main, 20.06.2024 – zvoove, a leading European provider of digitalisation solutions for the temporary staffing and cleaning services sector, has acquired DirectSkills, a French provider of workforce management solutions. This strategic acquisition enables zvoove to extend its reach into the French market and strengthens its position in the European personnel services industry. Numerous international companies such as Auchan, Daher and Eiffage rely on the solutions provided by DirectSkills. zvoove, a portfolio company held by funds advised by LEA Partners, has established itself as the market leader in the temporary employment sector in Germany, the Netherlands, Switzerland and Austria. It offers its clients unparalleled SaaS and AI-based digitalisation solutions and services. zvoove’s acquisition of DirectSkills further underlines its goal of offering comprehensive personnel solutions throughout Europe.A German-French CMS team headed by Frankfurt-based partner Markus Herz advised zvoove on all legal aspects of the transaction. CMS Germany Markus Herz, Lead Partner, Corporate/M&A CMS France Benoît Gomel, Partner Vincent Desbenoit, Associate Dylan Allali, Associate, all Corporate/M&APress Con­tact presse@cms-hs. com
20/06/2024
Cannabis law and legislation in Germany
Medical use The legalisation of cannabis for medical use took place in 2017. It is therefore permitted to grow, sell and import cannabis for medical use in Germany. Pursuant to the German Narcotics Act...
19/06/2024
CMS advises PINOVA Capital on acquisition of Neuromedex Group
Frankfurt/Main, 19.06.2024 – Funds advised by PINOVA Capital GmbH have acquired a majority stake in the Neuromedex Group, in a transaction that sees Neuromedex’s founder and another director reinvesting in the company. Hamburg-based Neuromedex is a leading supplier of single-use products for neurosurgery and intensive care medicine. Neuromedex products enable neurosurgeons to monitor and regulate intracranial pressure in their patients’ brains with minimal infection risk. PINOVA’s investment will mainly be used to drive the go-to-market of new innovative products and expansion of the international sales network.A CMS team led by partner Markus Herz advised PINOVA on all legal aspects of the transaction. PINOVA regularly relies on the expertise of CMS teams, including during the recent acquisition of Riepe GmbH & Co. KG. CMS Germany Markus Herz, Lead Partner Hanno Brandt, Senior Associate Lorenz Liebsch, Senior Associate Maxine Notstain, Senior Associate, all Corporate/M&A Philippe Heinzke, Partner Thomas Fröhlich, Counsel Lisa Dietrich, Associate Sara Kapur, Associate, all TMC Dr Mario Brungs, Counsel, Labor, Employment & Pensions Birgit Wagner, Legal Manager Julian Buhr, Legal Co­ordin­at­or Con­rad Gräwe, Legal Coordinator Shae Lynn Washington, Legal Co­ordin­at­or  Tag­rid Chahrour, Senior Legal Specialist Anke Clippingdale, Senior Legal Specialist, all Smart OperationsPress Con­tact presse@cms-hs. com
19/06/2024
Update on the AML-CTF Package: publication in the Official Journal of the...
The last three remaining texts of the AML-CTF Package (i.e. the AML Directive [1], the AMLA Regulation [2] and the AML Regulation [3]) have been published in the OJEU on 19 June 2024.For more background...
19/06/2024
Overview of the EU-Australia Memorandum of Understanding on Critical and...
The European Union (“EU”) and Australia on 28 May 2024 signed a Memorandum of Understanding (“MOU”) to forge a partnership aimed at developing a secure, stable, ethical, and sustainable supply...
19/06/2024
CMS advises vehicles managed by Lazard Asset Management on investment in...
London/New York/Duessel­dorf, 19.06.2024 – Vehicles managed by Lazard Asset Management (LAM) invest in Ageras A/S. The Danish fintech company Ageras A/S offers full suite accounting software to small business owners, including accounting software modules for invoices, expenses, payroll, tax and financial services. An international CMS team led by Partner Dr Sebastian Becker and Senior Associate Ole Weyand provided comprehensive legal advice and support to a London/New York based team of Lazard Asset Management in the course of this minority investment. The advice was provided in close cooperation with the Danish Law Firm Plesner. The parties involved have agreed not to disclose details of the transactions. CMS Germany Dr Sebastian Becker, Lead & Client Relationship Partner Ole Gunnar Weyand, Senior Associate, both PE/M&A Plesner Ad­vokat­part­nersel­skab, Denmark Hans Hedegaard, Partner Janus Jepsen, Partner Simon Mejer, Attorney-at-Law, all PE/M&APress Con­tact presse@cms-hs. com
19/06/2024
CMS advises Haufe Group on sale of Haufe-Lexware Real Estate to SaaS provider...
Berlin, 20.06.2024 – Haufe Group SE, a leading B2B provider of integrated business and workplace solutions, has entered into an agreement to sell all the shares in Haufe-Lexware Real Estate AG to Aareon, a market leader in SaaS solutions for the property industry. The aim of the acquisition is to transfer Haufe-Lexware Real Estate AG’s existing ERP software solutions for the property and housing sector to the Aareon Group’s product portfolio. Completion of the deal is expected at the end of June 2024.A CMS team headed by partners Jesko Nobiling and Dr Jörg Zätzsch advised Haufe Group on all legal and tax aspects of the transaction. Haufe Group regularly relies on advice from teams headed by the two CMS partners. Recent examples include the sale of its Umantis talent management business to Swiss software company Abacus Research AG and the sale of tax return start-up Steuerbot GmbH to Taxfix SE. CMS Germany Dr Jörg Zätzsch, Lead Partner, Corporate/M&A Jesko Nobiling, Lead Partner, Tax Dr Karsten Heider, Partner Dr Friedrich von Spee, Counsel Dr Kevin Schmidt, Senior As­so­ci­ate Madeline Göbel, Senior Associate Dr Maximilian Koch, Senior Associate Dr Sven Möller, Associate Nadine Fröhlich, Project Manager, all Corporate/M&A Mariya Ivanova, Senior As­so­ci­ate Al­ex­an­der Selentin, Associate, both Tax Dr Alexandra Otto, Partner Patricia Jares, Principal Counsel, both Labor, Employment & Pensions Dr Ole Jani, Partner Dr Huy Do Chi, Counsel, both IP Dr Rolf Hempel, Partner Martin Cholewa, Counsel, both Antitrust, Competition & Trade Prof. Malte Grützmacher, Partner Julia Bald, Associate, both TMC Dr Mirko Zorn, Principal Counsel, Real Estate & Public Birgit Wagner, Smart OperationsPress Con­tact presse@cms-hs. com
19/06/2024
AI Regulations in the EU, UK, and Asia: Essential Insights for HR and Employers
Join the members of the International CMS Employment and Pensions team for a webinar designed specifically for HR professionals, corporate leaders, and legal experts who need to stay ahead of the developments in the AI regulations across jurisdictions. Why Attend? The EU AI Act is poised to reshape the framework within which businesses operate. Understanding its implications is crucial for managing compliance and leveraging AI technology effectively within your HR practices. This webinar, led by employment law experts from CMS, will cover:Overview of the most important regulations in the EU AI Act for em­ploy­ersSpe­cif­ic impacts of the EU AI Act on roles, AI skills, AI-policies and the relationship with the works councilInsights on AI regulation in the UK and AsiaThe session will be conducted in English and is free of charge. We look forward to seeing you.