CERHA HEMPEL has advised the shareholders of Austrian firm Traktionssysteme Austria GmbH (TSA) on the sale of almost 60% of the shares in the company to the German technology group Voith and the Swiss holding company PCS Holding.
In a follow-up to our previous newsletter concerning the state of emergency declared in response to the coronavirus epidemic, we now provide a summary of regulations that have taken effect since and have relevance for employment matters.
Keep up to date with the latest COVID-19 legal developments in Austria, Hungary, Czech Republic, Slovak Republic, Bulgaria, Belarus and Romania with our CEE Insolvency & Restructuring Alert.
Under the main rule, the majority of Hungarian companies will have to approve and publish their 2019 annual report before the end of May, but in the light of the restrictions introduced.
Sergei Makarchuk, CERHA HEMPEL Partner in Belarus, has been appointed as the “Designated Legal Counsel of the Austrian Embassy in Belarus” by the Federal Ministry for Europe and International Affairs of the Republic of Austria.
CERHA HEMPEL Rechtsanwälte GmbH advised OMV in connection with the purchase of an additional 39% stake in Borealis AG from Mubadala for a purchase price of USD 4.68 billion.
The latest development in the world of competition law is that with a view to the expected economic slowdown, the European Commission has eased the rules governing state aid, which is an unprecedented step in the history of the EU.
