Ready for the new register of beneficial owners in 2018? bpv Hügel on actions required

25. September 2017

New disclosure requirements for companies, private foundations, insurance associations, trusts, associations and cooperatives. Starting in 2018 additionally “beneficial owners” have to be registered.

Florian Neumayr partner at bpv Hügel in the Global Competition Review: directional decision of the European Court of Justice regarding Austrian Joint Ventures

8. September 2017

From a competition law point of view there are two kinds of Joint Ventures: Enterprises can either appear on the market (sole control of an undertaking/full-function undertaking) or just supply their Joint-Venture partners (joint control of an undertaking/ community non-full-function undertaking or community full function undertaking). The incorporation of a joint control of an undertaking may be subject to registration at national level (no EU merger control). „… the Supreme Court’s question hinged on whether the test should apply only to cases where companies form a joint venture “from scratch”, or whether it applies to ventures that acquire shares in a pre-existing entity. […] the case had helped “tremendously” in clarifying when joint ventures have to be notified to the European commission. “, noted Florian Neumayr, partner at bpv Hügel, competition law department, in the periodical CGR.

bpv Hügel – nominated by JUVE for “Law Firm of the Year Austria”

21. August 2017

bpv Hügel is nominated as “Law-firm of the Year Austria” (Kanzlei des Jahres Österreich) by the leading German industry media JUVE.

Austrian Private Foundation Amendment Act 2017: Response of Univ. Prof. Dr. Hanns F. Hügel in the statutory evaluation process

21. August 2017

The draft bill of the Amendment Act is an important first step to revive the private foundation, which in particular has already been severely affected by case law. This will support private foundations operating as holdings for family-run enterprises. However,it is still required to improve important points of the draft.

bpv Hügel on capital market development: Austrian legislator paves the way for the delisting

12. July 2017

For the first time the delisting is regulated in Austria – as from 2018 issuers may also delist from the regulated market segment (Amtlicher Handel) of the Vienna Stock Exchange.

bpv Hügel advised BAWAG P.S.K. on its acquisition of start:bausparkasse and IMMO-BANK from the Volksbanken-Group as well as on the demerger of IMMO-BANK

1. July 2017

BAWAG P.S.K. acquired the building society and the housing bank of the Volksbanken-Group. bpv Hügel advised BAWAG P.S.K. in the transaction and the subsequent demerger of IMMO-BANK for integration into BAWAG P.S.K. Group. As of today the demerger was registered with the Commercial Register and became effective.

bpv Hügel on corporate governance-development: Austrian parliament resolves upon 30% gender quota (“women’s quota”) for supervisory boards

29. June 2017

Corporate Governance and Gender Diversity – On 28 June 2017 the Austrian parliament resolved upon a 30% gender quota (“women’s quota”) for supervisory boards of listed corporations and corporations with more than 1.000 employees. The “Equal Treatment Act of Women and Men in Supervisory Boards” will become effective with 1 January 2018.

Webinar on Energy Efficiency Law (Institute for International Research)

23. June 2017

On 23 June 2017, Christian F. Schneider, partner at bpv Hügel Vienna, and Anna Walbert-Satek, attorney-at-law at bpv Hügel Vienna, hold a webinar on the Austrian Energy Efficiency Act as part of the lecture series “Energy Industry” at the Institute of International Research in Vienna.

bpv Hügel advises IMMOFINANZ AG on the settlement upon the exchange ratio of the merger with IMMOEAST AG

19. June 2017

The review proceedings of the exchange ratio applied in the merger of IMMOEAST and IMMOFINANZ in 2010 have been settled. The settlement provides compensation to the group of former IMMOEAST shareholders of approx. 30 million additional IMMOFINANZ shares. The alternative to compensate with shares has been applied the first time in Austria in review proceedings.

Capital Increase of BUWOG AG: bpv Hügel advised Underwriters

12. June 2017

Share issuance of BUWOG AG with the total gross proceeds of approx. EUR 305.6 million. bpv Hügel acted as Austrian counsel for Deutsche Bank Aktiengesellschaft, Goldman Sachs International as Global Coordinators and Joh. Berenberg, Gossler & Co. KG, Erste Group Bank AG, Kempen & Co N.V. and Société Générale Corporate & Investment Banking as Joint Bookrunners.

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