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Antitrust, Competition & Trade

27/10/2023
JUVE Awards 2023: CMS recognised as Law Firm of the Year for Antitrust
Berlin – International commercial law firm CMS Germany was recognised yesterday evening as Law Firm of the Year for Antitrust at the JUVE Awards 2023. The JUVE Awards are regarded as among the most...

Companies face a constantly evolving array of antitrust and competition law requirements. In particular, competition law is gaining in importance due to sustainable and digital transformation of the economy. Our competition law specialists have been providing comprehensive advice on all aspects of German and EU antitrust,/ competition law and foreign trade law for decades. They also have long experience of representing companies in all proceedings before public authorities and in the courts of the European Union and Germany, combining technical excellence with strategic farsightedness. 

With more than 30 lawyers, our German competition law team is one of the biggest practices in the market. We also provide a unique perspective on cross-border projects and issues thanks to over 225 highly capable antitrust/competition lawyers in our CMS offices across more than 40 countries, including 20 EU member states. 

Service portfolio 

We offer our clients advice in all areas of antitrust, competition and foreign trade law. 

Based on our decades of advice in the field, we have an in-depth understanding of the competition dynamics in a wide range of economic sectors. We have particular expertise in automotive & mobility, consumer goods, the engineering and manufacturing industry, media, the digital economy and in regulated sectors, i.e. energy, pharmaceuticals & healthcare, life sciences and telecommunication. This enables us to provide our clients with real-world advice, both operationally and strategically, and to protect their interests efficiently before public authorities and courts.

CMS EU Law Office in Brussels

Brussels is the political centre of Europe and the seat of the European Commission. We have our own presence here through the CMS EU Law Office. The lawyers at the CMS EU Law Office benefit from excellent links in Brussels and long-standing contacts with decision makers at the European Commission, the European Parliament and other key European institutions at EU level.

Always abreast of legal developments

In association with Düsseldorf University, we organise the EU Competition Conference, which has become a fixture in the calendar of conferences specialising in competition law. We use our blog (in German only), the Law Now knowledge platform and  our EU competition law briefings to provide information on the latest case law and on European and international developments in antitrust and competition law and foreign trade law.  

What others say about us

"The team is pragmatic and solution-oriented.“, client

Chambers Europe, 2024

“We appreciate the firm's working attitude, efficiency, knowledge and service orientation.”, client

Chambers Europe, 2024

“We appreciate the competent advice and pragmatic approach.”, client

Chambers Europe, 2024

“Very good team play between the people and locations involved, very good technical know-how, strategic instinct and assessments for the right timing; very good information/communication culture.”, client

The Legal 500 EMEA, 2024

“Always available, always well prepared and always motivated, even in protracted legal disputes.“, client

The Legal 500 EMEA, 2023

07/06/2024
EU Competition Law Briefing
The EU Competition Law Briefings have been created to provide a platform for our clients and other competition law experts to stay up to date on the developments of EU Competition Law. 
21/06/2021
DiGi POD – The podcast series on trending competition law developments
Our podcast series DiGi POD has been created to provide a platform for our clients, competition law experts as well as competition law enthusiasts to stay up to date on the developments and trending topics in connection with competition law. List of episodes:Episode 3: Vertical restraints under the cartel prohibition: what is expected to change after May 2022?Episode 2: Screening foreign subsidies – only for state aid en­thu­si­asts? Epis­ode 1: Digital markets and online platforms
31/01/2022
CMS Competition Associates
Our CMS Competition Associates’ (CMS-CA) group is a key initiative to provide our junior and senior associates with a platform for the younger generation, drive collaboration and foster innovation at all levels within the CMS Antitrust, Competition & Trade Group, both internally and externally. All associates in the CMS Competition & EU Group are invited to submit applications for membership on a biennial basis. We currently have 24 members from 23 offices, working on various initiatives and three key projects:DiGi PODe-Learningin­foX­chan­geThe focus of each of these projects is on the seamless sharing of key knowledge and experience throughout the CMS Competition & EU Group and to clients internationally, meaning that all can benefit from the most up-to-date cross-border specialist knowledge and advice. Members of the CMS-CA group can volunteer to assist with any of these projects and progress the initiatives independently, with the full support of the CMS Competition & EU Group. Members are also constantly encouraged to come up with and develop new internal and external initiatives, with a particular focus on embracing the newest and most innovative technologies. In addition, the CMS-CA group is actively involved in most activities of the CMS Competition & EU Group, including the annual CMS Competition Conference and the monthly EU Competition Law Briefings. Furthermore, members of the CMS-CA group both conduct internal training sessions to keep the CMS Competition & EU Group abreast of the most recent developments and develop online training for specific clients.

Solutions for today and tomorrow 

Competition - Digital Regulation
New legislation for the digital age
EU Green Deal and Competition Law
The ambitious European Green Deal is one of the European Commission’s key programmes. Accordingly, it has announced that all aspects of EU competition policy (competition law, merger control and state aid) must contribute to implementing the Green De
Expertise
18/03/2024
E-learning | Competition law – basics
This e-learning course provides you with the basics of the main bans under competition law, highlights the various severe legal consequences of competition law violations and provides recommendations on what to do in the event of searches by competition authorities.

Choose an area

Merger control
We assist our clients with all merger control issues. To do this, we draw on the many years of experience gained from the impressive deal flow handled
Vertical agreements
We advise our clients on the strategic design, review and (re)structuring of sales and distribution systems. They benefit from our long and wide-rangi
Cartel fine and administrative proceedings
We defend our clients in fine proceedings and administrative proceedings brought by the competition authorities, and also in any subsequent court proc
Cartel damages claims
CMS is one of the leading law firms for cartel damages claims. Our litigation and competition law specialists were pioneers in this field and continue
Horizontal agreements
Cooperation between competitors. Our experts can support you around structuring your cooperation in compliance with competition law:Joint venturesSpec
Competition law compliance
Compliance with competition law is a key part of responsible corporate governance.Our experts for competition law compliance provide comprehensive sup
State aid
State aid is one of the fastest-changing areas of law. Given the current economic and geopolitical situation, past crises and green transformation of
Regulated industries
Our breadth of expertise, combined with our industry knowledge, enables us to provide comprehensive advice to companies operating in regulated markets
Foreign Investment control
Foreign investment screening has steadily gained in importance over recent years. Germany has increasingly tightened foreign investment control rules
Trade
In an increasingly challenging international business environment, we leverage our expertise in foreign trade law to help our clients comply with lega
Competition law and digitisation
Digitisation is triggering fundamental changes across the economy. It enables data-driven, innovative business models while also transforming traditio
CMS Client Academy
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28/05/2024
Strategic restructuring: CMS advises Hydro Systems shareholder on merger...
Stuttgart – Hydro Systems KG, based in Biberach (Baden-Württem­berg), and Rhinestahl, which is headquartered in Cincinnati, USA, have merged to become R-H Aviation. The two aviation suppliers are aiming to boost their market position, achieve continued growth and create a new global industry champion for ground support equipment (GSE) and tooling. They are also seeking to play a greater role in speeding up decarbonisation. In addition, the merger marks the completion of a succession arrangement for Hydro Systems KG. R-H Aviation’s headquarters is located in Cincinnati, but Hydro Systems will remain in Biberach and the location will be further strengthened. Other details of the transaction were not disclosed. An international CMS team headed by lead partners Dr Maximilian Grub and Dr Kai Wallisch advised the shareholder of Hydro Systems on all legal aspects of the merger. A particular focus was on structuring the transaction from a corporate and tax law viewpoint, the merger control and foreign trade approval procedures, and on financing issues. Hydro Systems has around 650 employees. For some 60 years, it has been developing and producing innovative solutions for the assembly, maintenance and repair of civil and military aircraft. In addition to its main site in Biberach, the company has locations in Germany, China, the UK, France, Singapore, the US and the United Arab Emirates. Hydro’s business areas include GSE, tooling (with a focus on Airbus and Rolls-Royce) and worldwide service. CMS Germany Dr Maximilian Grub, Lead Partner Dr Kai Wallisch, Partner, Lead Partner Dr Christian Zielonka, Principal Counsel Birgit Schlemmer, Senior As­so­ci­ate Mil­itsa Decheva Petrova, Senior Associate Yella Schick, As­so­ci­ate Kath­rin Dengel, Associate, all Corporate/M&A Dr Christian Friedrich Haellmigk, Partner Kai Neuhaus, Partner David Rappenglück, Associate Malena Hansen, Senior Associate, all Antitrust, Competition & Trade Dr Martin Mohr, Partner Dr Olaf Thießen, Principal Counsel Lukas Braun, Senior Associate Tobias Wacker, Associate, all Tax Dr Volker Zerr, Partner Michelle Schickinger, Senior Associate Maike Füchtmann, Senior Associate, all Real Estate & Public Dr Marc Seibold, Partner Carl Werner, Principal Counsel Dr Andreas Grunert, Principal Counsel Julian Lacher, Senior Associate Carla Kaeber, Associate, all Banking, Finance & Insurance CMS Shanghai Michael Munzinger, Counsel Ran Li, Associate Locke Lord, Houston, Texas Edward A. Razim III, Partner Jaremy Chilton, Tax PartnerPress Con­tact presse@cms-hs. com
24/05/2024
CMS advises Dutch investor Stibbe Participaties on the sale of Heinkel...
Frankfurt/Main – The Alsatian family-owned group, De Dietrich Process Systems, acquires the Heinkel Group. Seller is the Dutch investor Stibbe Participaties. The Heinkel Group, with its recognized brands HEINKEL, COMBER, BOLZ-SUMMIX and JONGIA, is an international premium provider of solid-liquid separation solutions and drying and mixing systems, mainly for the pharmaceutical, chemical and food industries. Stibbe Participaties acquired the companies in 2005 after a turbulent time caused by a sharp downturn in the pharmaceutical industry and has developed Heinkel Group through add-on acquisitions to an international player in its sector. The combination of solid German management and hands-on support from Stibbe Participaties led to a revival of Heinkel – resulting in a strong market position and a stable recurring income from after sales and service. With the strategic merger of Heinkel Group and De Dietrich, De Dietrich enriches and broadens its portfolio and becomes a global leader in the fields of solid-liquid separation and the drying of active ingredients. An international CMS team headed by lead partner Dr Hendrik Hirsch advised Stibbe Participaties on all legal aspects of the transaction, including legal advice in more than seven jurisdictions (including Germany, the USA, Italy, the Netherlands, China, Singapore and India), legal support on the auction process and negotiation of contractual terms for the best possible integration of the Heinkel Group into the group of the successful bidder as the new owner as well as on tax and IP topics. Stibbe Participaties, based in Laren, Netherlands, is a family-held investor pursuing a buy-and-build strategy. The firm focuses on midsize industrial manufacturing companies with an experienced management and a position in a niche market with potential for market leadership. CMS Germany Dr Hendrik Hirsch, Lead Partner Maxine Notstain, Senior Associate, Co-Lead Markus Herz, Partner Dr Till Alexander von Poser, Associate, all Corporate/M&A Dr Hendrik Arendt, Senior Associate Dr Martin Friedberg, Partner, both Tax Dr Thomas Hirse, Part­ner Se­basti­an Vautz, Senior Associate Lisa Dietrich, Associate, all IP Till Komma, Counsel Lena Schauer, Associate, both Banking, Finance & Insurance Moritz Pottek, Counsel, Antitrust, Competition & Trade Tina Karakurt, Counsel Dr Franz Maurer, Counsel, both Real Estate & Public Dorothée Janzen, Partner, Com­mer­cial Birgit Wagner, Legal Manager, Smart Operations SMOP CMS Netherlands Pieter van Duijven­voorde Car­ola Bruijn Pieter de Kanter CMS Italy Daniela Murer Alessandra Cuni Sara TammarazioPress Con­tact presse@cms-hs. com
06/05/2024
Obligation to include a "No Russia clause" in supply agreements
For some export transactions, re-exportation to Russia must be contractually prohibited. Model clauses present conflicts with German law on general terms and con­di­tions.Com­pan­ies must keep abreast of...
22/04/2024
CMS advises Vattenfall on sale of 49% of shares in offshore wind farm projects...
Hamburg – Vattenfall has sold 49% of its shares in the Nordlicht 1 and Nordlicht 2 wind farm projects to BASF. The wind farm zone consists of two separate sites and is located in the German section of the North Sea, around 85 kilometres north of the island of Borkum. The two sites, Nordlicht 1 and Nordlicht 2, have planned capacities of approximately 980 MW and 630 MW, respectively. Full commissioning is scheduled for 2028, when a total of around six terawatt hours (TWh) of electricity is expected to be generated per year, enough to power 1.6 million German households. This makes the Nordlicht wind project the biggest offshore wind farm project that Vattenfall has realised to date. Construction is expected to start in 2026, subject to the final investment decision. Vattenfall is acting as developer and builder of both Nordlicht sites.A CMS team headed by partners Dr Holger Kraft and Dr Jacob Siebert advised Vattenfall on all legal aspects of the transaction. Vattenfall and BASF signed a Memorandum of Understanding with regard to the joint project in December of last year, when the CMS team likewise advised Vattenfall. CMS Germany Dr Holger Kraft, Lead Partner Dr Jacob Siebert, Lead Part­ner Dorothée Janzen, Partner, Com­mer­cial Mat­thi­as Sethmann, Principal Counsel Dr Christoph Löffler, Counsel Dr Stefan Kühl, Senior Associate Dr Christian Seeburger, Associate, all Corporate/M&A Dr Niklas Ganssauge, Partner Mathias Cordero, Senior Associate, both Real Estate & Public Christoff Soltau, Partner Dr Denis Schlimpert, Counsel Dr Robert Bodewig, Senior Associate, all Antitrust, Competition & Trade Dr Kerstin Block, Partner, Banking & Finance Prof. Malte Grützmacher, Partner, TMC Dr Nikolas Gregor, Partner, Intellectual Prop­erty Se­basti­an Belz, Counsel Katja Meisel, Senior Associate Knut Göring-Tisch, Associate, all Public Dr Arne Burmester, Principal Counsel  Birgit Wagner, Legal Manager Shae Lynn Washington, Legal Co­ordin­at­or  Sarah Przybylski, Senior Legal Specialist Edris Trabzadah, Senior Legal Specialist Jule Marie Holz, Legal Specialist, all Smart OperationsPress Con­tact presse@cms-hs. com
17/04/2024
Update - The new EU rules for digital markets go live!
The European Union's Digital Strategy aims to regulate the digital economy. And the new rules are now coming to life. CMS is pleased to invite you to our EU Digital Regulation and Antitrust Briefing in the CMS Representative Office in Mountain View on Tuesday, April 16 at 5:00 pm PST with our special guest: Andreas Schwab, Member of the European Parliament, and specialist in antitrust, digital regulation and AI. We will discuss everything you need to know about the new EU rules for digital markets: Digital Gatekeepers must comply with the Digital Markets Act (DMA) since March 7, and the Digital Services Act (DSA) is fully in force since February. The groundbreaking EU Artificial Intelligence Act (AIA) has been agreed and will soon come into force. And there is much more.
08/04/2024
EU Commission enforces obligation to provide correct and complete information...
EU merger control law provides for an obligation of the parties to provide correct and complete information in merger control proceedings. This obligation has a very high relevance for the European Commission...
03/04/2024
CMS advises CTS Eventim on planned acquisition of ticketing and festival...
Hamburg – MDAX-listed CTS Eventim AG & Co. KGaA, the number one provider of ticketing services in Europe and number two in the world, has today entered into a put option agreement with companies in the listed French media group Vivendi. This grants Vivendi the right to sell to CTS Eventim all the shares in the companies that are part of its festival and international ticketing activities. Vivendi will now conduct a consultation procedure with the relevant employee representative bodies so that it can decide on accepting the put option. Vivendi’s ticketing business includes See Tickets UK, the second-biggest ticketing firm in England, along with other companies in Europe and the US. These companies sold a total of around 44 million tickets in the 2023 financial year. The deal does not include the shares in Vivendi’s French ticketing company, See Tickets SAS. The festival business operated by Vivendi includes companies from England and France that organise festivals such as Junction 2 and Garorock. CMS advised CTS Eventim on all aspects of the transaction. The team headed by Henrik Drinkuth worked closely with several CMS offices in countries including France, England, Spain, Switzerland and the Netherlands. CMS Germany Dr Henrik Drinkuth, Lead Partner Dr Hendrik Quast, Senior Associate, both Corporate/M&A Prof. Malte Grützmacher, Partner, IT/Data Pro­tec­tion Chris­toff Soltau, Part­ner Al­ex­an­der Laute, Senior Associate, both Competition Dr Martin Gerecke, Partner, Media Law CMS France Alexandra Rohmert Vincent Desbenoit Dylan Allali, all Corporate/M&A Claire Van­nini  Guil­laume Melot, both Competition CMS UK John Enser, TMT Nick Crosbie  Jade Tran  Maria Doran, all Corporate/M&A CMS Spain Luis Miguel De Dios Jorge Peris Hevia, both Corporate/M&A and Commercial CMS Portugal Miguel Santos Ferreira, Corporate/M&A and Commercial CMS Switzerland Stefan Brunnsch­weiler An­drea Relly Anna Mast, all Corporate/M&A CMS Netherlands Elmer Veenman Bob Barnhoorn, both Corporate/M&A and CommercialPress Con­tact presse@cms-hs. com
02/04/2024
CMS advises Main Street Capital Corporation on the acquisition of Maass...
Ham­burg/Stut­tgart – Main Street Capital Corporation, a publicly traded financial investor based in Houston, Texas, has acquired Maass Global Group through one of its portfolio companies, Gulf Manufacturing, LLC. The Essen-based company is a global leader in the manufacture and sale of flanges and forged specialty products, forged steel bars, seamless tubes and fittings made of duplex, stainless steel and high-nickel alloys. In addition to its headquarters in Essen, the Maas Global Group has further locations in the Netherlands, the United Kingdom, India, Singapore and the United Arab Emirates.A CMS team led by Dr. Eckart Gottschalk and Dr. Kai Wallisch provided comprehensive legal advice to Main Street Capital Corporation on this transaction. In addition to corporate law advice, the focus was on the legal implementation of the financing. As part of the transaction, CMS Germany worked closely with CMS law firms from the Netherlands, Singapore and the United Arab Emirates as well as the American law firm Locke Lord and AZB & Partners from India. Main Street Capital Corporation is a publicly traded investment company with a market capitalization of approximately USD 3.9 billion. It specializes in long-term financing of middle-market companies in various industries through management buyouts, re­cap­it­al­iz­a­tions, growth financing and acquisitions. With the investment to acquire Maas Global Group, Main Street Capital Corporation is deepening its existing investment in the manufacturing of flanges, fittings and other specialty products for industrial applications. CMS Germany Dr. Eckart Gottschalk, Lead Partner Dr. Kai Wallisch, Lead Partner Dr. Paul Kintrup, Senior As­so­ci­ate Mil­itsa Decheva Petrova, Senior Associate Dr. Alexander Weinhold, Senior As­so­ci­ate Tjorben Drawe, Associate Sonja Schanze, As­so­ci­ate Kath­rin Dengel, Associate, all Corporate/M&A Dr. Marc Seibold, Partner Anne Waßmuth, Counsel Carla Kaeber, Associate, all Banking & Finance Dr. Hans Fabian Kiderlen, Principal Counsel Theresa Friedle, Associate, both Real Estate & Public Dr. Michael Kraus, Partner Thomas Fröhlich, Counsel, both TMC Dr. Jacob Hinze, Counsel, Employment Law Dr. Martin Mohr, Partner, Tax Christoff Henrik Soltau, Partner Dr. Robert Bodewig, Senior Associate, both Antitrust, Competition & Trade Kai Neuhaus, Partner Moritz Pottek, Counsel, both Brussel EU Law Office CMS Netherlands Roman Tarlavski, Partner Maarten Feenstra, Associate Fleur Assendelft de Coningh, Associate Anne Fleur Krijthe, Candidate civil law notary CMS Singapore Toby Grainger, Partner Leslie Tay, Associate CMS UAE Patrik Daintry, Partner Fawzi Oueidat, Associate Locke Lord Greg Heath, Partner Nicholas Jennings, Partner Jason Ulezalka, Partner Case Towslee, Associate Jake Chagoury, Associate Mason Marek, Associate AZB & Partners Srinath Dasari, Senior Partner Gautam Rego, Partner Yash Anand, Associate Gopika Menon, AssociatePress Con­tact presse@cms-hs. com
26/03/2024
CMS advises SEFE on all aspects of acquiring WIGA Group
Hamburg – SEFE Securing Energy for Europe GmbH (SEFE) has acquired all the shares in WIGA Transport Beteili­gungs-GmbH & Co. KG (WIGA) from its co-shareholder Wintershall Dea AG. The transaction is currently awaiting approval from the competition authorities. SEFE is wholly owned by the Federal Republic of Germany. WIGA owns regulated gas pipeline operators GASCADE Gastransport GmbH and NEL Gastransport GmbH, who operate one of the largest high-pressure gas networks in Germany with a combined length of around 4,150 kilometres. These networks have a key role to play in European energy security and the green energy transformation. The transaction will strengthen SEFE in its role of ensuring secure and reliable energy supply in Germany and Europe, as well as boosting its hydrogen ex­pert­ise.“With the full acquisition of WIGA as sole shareholder, we are strategically strengthening SEFE as an independent and autonomous midstream company,” commented Reinhard Gorenflos, Chairman of the SEFE Supervisory Board.“SEFE being the sole shareholder of WIGA will ensure that GASCADE can convert the existing high-performance infrastructure to hydrogen in the future. In this way, we can help drive forward the green energy transformation. Transportation infrastructure is a pivotal part of the future hydrogen value chain,” said Dr Egbert Laege, CEO of SEFE. “The two WIGA subsidiaries, GASCADE and NEL, will continue to operate independently and market their capacity in a transparent and non-dis­crim­in­at­ory manner.”SEFE CFO Dr Christian Ohlms highlighted the importance of WIGA with regard to the privatisation of SEFE, which is due to take place by the end of 2028: “With this transaction, which is expected to complete by summer 2024, we are strengthening SEFE’s asset base. Our aim is to continue the long-term development of SEFE on a stable financial footing.”A multinational CMS team headed by Hamburg-based partner Dr Holger Kraft advised SEFE on all aspects of acquiring WIGA. In addition to extensive due diligence on the entire WIGA Group, including GASCADE and NEL, which are regulated under energy law, this work covered negotiation of the share purchase agreement and separate agreements with the shareholders of Wintershall Dea AG. Alongside negotiating the transaction agreements, the advice focused on safeguarding the transaction through several W&I insurance agreements, including negotiating the policies, and handling regulatory issues relating to gas network operation and other public-law matters. CMS Germany worked closely with the CMS law firms in the UK and Luxembourg, and with US law firm Faegre Drinker Biddle & Reath LLP. CMS previously advised the Federal Network Agency (BNetzA) and the Federal Ministry for Economic Affairs and Climate Action in 2022 and 2023 around their trusteeship over SEFE and its subsequent nationalisation by way of corporate actions. The instructions for this transaction followed on from that successful cooperation. About SEFE:As an integrated midstream energy company headquartered in Berlin, SEFE Securing Energy for Europe ensures the security of energy supply in Germany and Europe and is driving the green energy transformation. SEFE is active in trading & portfolio management, sales, transportation and storage of energy and has its strongest presence in Germany and the UK. SEFE employs around 1,500 people and supplies over 50,000 customers, in particular industrial customers and municipal utilities in Germany and seven other European markets. With a sales volume of around 200 TWh of power and gas, SEFE plays a central role in stability of the energy supply in Germany and Europe. SEFE is owned by the Federal Government of Germany. CMS Germany Dr Holger Kraft, Lead Partner Dr Jan Schepke, Partner Matthias Sethmann, Principal Counsel Dr Dirk Baukholt, Principal Coun­sel Char­lotte von der Heydt-von Kalckreuth, Counsel Dr Stefan Kühl, Senior Associate Dr Paul Kintrup, Senior Associate, all Corporate/M&A Dr Rolf Hempel, Partner Dr Friedrich von Burchard, Partner Nicole Köppen, Senior Associate, all Regulatory Dr Hermann Müller, Partner Dr Arno Görlitz, Associate, both Public Commercial Law Dr Martin Mohr, Partner Dr Olaf Thießen, Principal Counsel, both Tax Dr Alexandra Schluck-Amend, Partner Manuel Nann, Senior As­so­ci­ate Pit-Jo­hannes Wagner, Associate, all Restructuring Dr Andreas Hofelich, Partner Dr Mario Brungs, Counsel Dr Lena Pingen, Associate, all Em­ploy­ment/Pen­sions Dr Fritz von Hammerstein, Partner Jan Gröschel, Senior Associate Heike Weyer, Senior Associate, all Public Law Dr Stefan Voß, Partner Tamara Bux, Associate, both Real Estate Dr Sebastian Cording, Partner Martin Krause, Partner Dr Shaya Stender, Associate Joel Coché, Associate, all Commercial Dr Julia Runge, Principal Counsel, Finance Dr Michael Bauer, Part­ner Chris­toff Henrik Soltau, Partner Dr Robert Bodewig, Senior Associate Luisa Thomasberger, Associate, all Antitrust, Competition & Trade CMS UK Russel Hoare, Partner Sam De Silva, Part­ner Jean-Fran­cois Willems, Of Counsel Jennifer Louch, Senior As­so­ci­ate Max­imili­an Weaver, Senior Associate Louisa Mottaz, Associate CMS Luxembourg Angelique Eguether, Senior As­so­ci­ate Guil­laume Flagollet, Managing Associate Faegre Drinker Biddle & Reath LLP (USA) Mollie D. Sitkowski Inhouse at SEFE Securing Energy for Europe GmbH Dr Jörg Kammerer Jörn RimkePress Con­tact presse@cms-hs. com
26/03/2024
CMS advises sellers of Cardior Pharmaceuticals on potential acquisition...
Munich – CMS advises the sellers of Cardior Pharmaceuticals in the potential acquisition of the company by Novo Nordisk. Novo Nordisk has agreed to acquire Cardior for up to 1.025 billion Euros, including an upfront payment and additional payments if certain development and commercial milestones are achieved. The agreement includes Cardior’s lead compound CDR132L, currently in phase 2 clinical development for the treatment of heart failure. The closing of the acquisition is subject to receipt of applicable regulatory approvals and other customary conditions. It is expected to happen in the second quarter of 2024.A CMS team headed by Lead Partners Stefan-Ulrich Müller, Dr Tilman Weichert and Jörg Schrade advised the sellers of Cardior Pharmaceuticals on all legal aspects of the transaction. Cardior Pharmaceuticals GmbH, based in Hannover, Germany, is a leading clinical-stage bio­phar­ma­ceut­ic­al company pioneering the discovery and development of RNA-based therapeutics designed to prevent, repair and reverse diseases of the heart. The company’s therapeutic approach uses distinctive non-coding RNAs as an innovative platform for addressing the root causes of cardiac dysfunctions. CMS Germany Stefan-Ulrich Müller, Lead Partner Dr Tilman Weichert, Lead Partner Dr Michael Wangemann, Partner Dr Kai Wallisch, Partner Dr Thomas Mühl, Principal Coun­sel Se­basti­an Hummel, Senior As­so­ci­ate Vikt­or­ia Barthel, Senior As­so­ci­ate Mar­i­elouise Emmer, Senior Associate Dr Carl-Friedrich Thoma, Senior Associate Dr Stefan Kühl, Senior Associate Dr Alexander Weinhold, Senior Associate Maria Kucher, Associate Jonas Ohmann, Associate Dr Josephine Doll, Associate Dr Christian Seeburger, Associate Sonja Schanze, Associate, all Corporate/M&A Dr Marie-Luisa Loheide, Associate, Private Clients Jörg Schrade, Lead Partner Eduard Kosavtsev, Senior Associate, both Tax Stefan Lehr, Partner, Antitrust, Competition & Trade Stefan Lüft, Partner, IP Dr Benedikt Forschner, Partner, Labor, Employment & Pensions Dr Markus Kaulartz, Partner Dr Fiona Savary, Counsel Dr Felix Glocker, Senior Associate, all TMC Dr Tilman Niedermaier, Partner Susanne Schwalb, Partner, both Dispute ResolutionPress Con­tact presse@cms-hs. com
25/03/2024
CMS advises on project financing for land-based terminal in Stade
Hamburg – Hanseatic Energy Hub GmbH (HEH) has achieved financial close for the project financing to develop and realise the planned terminal for liquefied gases in Stade. Total investment is some EUR 1.6 billion. Achieving financial close represents a major milestone for Hanseatic Energy Hub GmbH’s land-based terminal.A multi-dis­cip­lin­ary and multi-location CMS team headed by Dr Hilke Herchen and Dr Holger Kraft advised Hanseatic Energy Hub GmbH on developing the project and on preparations to secure the project financing. This included corporate law advice with a particular focus on developing and optimising corporate governance, and on the associated links to the project financing. This advice marks a continuation of the existing close cooperation between HEH and CMS. The CMS team has been providing advice on an ongoing basis since the start of the project, with support for project development around corporate, operation & maintenance and real estate matters in particular. This has included advising on various shareholders joining the project, with a recent example being Enagás S.A. as industrial partner in June 2023. The CMS team conducted a comprehensive due diligence check to put the project financing on a solid footing. The first expansion phase of the project will see an emission-free terminal begin operating in 2027. Its infrastructure is also approved for bio-LNG and synthetic natural gas (SNG). At a later stage, the project will be switched over to hydrogen-based energy carriers such as ammonia. The planned regasification capacity is 13.3 billion cubic metres per year and the send-out capacity is 21.7 gigawatt. From March 2024 until the onshore terminal becomes operational, Hanseatic Energy Hub GmbH will also accommodate one of the five FSRUs (Floating Storage and Regasification Units) chartered by the German federal government. CMS Germany Dr Hilke Herchen, Lead Partner Dr Holger Kraft, Lead Partner Matthias Sethmann, Principal Counsel Dr Luise Pelzer, Counsel Dr Stefan Kühl, Senior Associate Dr Carl-Friedrich Thoma, Senior Associate Dr Josephine Doll, As­so­ci­ate Domin­ic Zimmer, Associate Dr Christian Seeburger, Associate, all Corporate/M&A Dr Fritz von Hammerstein, Partner Katja Meisel, Senior Associate Jan Gröschel, Senior Associate, all Per­mit­ting Mar­tin Krause, Partner Dr Sebastian Orthmann, Partner Dr Hans Fabian Kiderlen, Principal Coun­sel Chris­toph­er Schmeckel, Senior Associate Wiebke Westermann, Associate, all Real Estate Dr Friedrich von Burchard, Partner, Energy & Climate Change Dorothée Janzen, Part­ner  Chris­toph Zarth, Partner Robin Azinovic, Associate, all Commercial Dr Kerstin Block, Partner, Banking & Finance  Dr Martin Mohr, Partner Dr Olaf Thießen, Principal Counsel, both Tax Dr Sebastian Cording, Partner Dr Anna Lena Füllsack, Senior Associate, both TMC Dr Michael Bauer, Partner Luisa Thomasberger, Associate, both Antitrust, Competition & Trade Dr Philipp Nonnenmühlen, Counsel, Labor, Employment & Pensions Dr Martin Gerecke, Partner, IP Birgit Wagner, Legal Manager, Smart OperationsPress Con­tact presse@cms-hs. com
18/03/2024
E-learning | Contact with competitors – basic competition law rules
Our e-learning course on dealing with competitors provides our clients with a sound basis for training their employees. This e-learning course guides through the correct conduct under competition law when in contact with competitors.