Herbst Kinsky has advised PhagoMed Biopharma's shareholders on the sale of the company to BioNTech.
Vukmir & Associates and Kapolyi, working together with Herbert Smith Freehills’ Paris office, have advised Engie on the spin-off and sale of its construction and services business to Bouygues. White & Case's Paris office advised the Engie board of directors. Reportedly, Wolf Theiss, AKK, and Python Avocats also advised Engie in Austria, the Czech Republic, and Switzerland, respectively.
Radovanovic Stojanovic & Partners and Cerha Hempel have advised AIK Banka, Gorenjska Banka, and Agri Europe Cyprus on their acquisition of Sberbank Europe’s shares in six CEE banks. Noerr advised the buyers on Hungarian law, while Maric & Co, Zuric and Partners, Tos & Partners, and Egorov Puginsky Afanasiev & Partners reportedly advised the buyers on Bosnian, Croatian, Slovenian, and Russian matters, respectively.
On 2 November 2021 the Austrian Financial Market Authority (FMA) published its long-awaited amended Online Identification Regulation (Online-Identifikationsverordnung, "Online-IDV"). The FMA herewith enables financial service providers subject to the KYC obligations of the Financial Market Anti-Money Laundering Law (Finanzmarkt-Geldwäschegesetz; "FM-GwG") to use purely biometrical processes for remote identification of new customers. Biometrical identification processes are all procedures for online customer identification where the entire or parts of the online identification are carried out by an automated electronic procedure without the involvement of employees – there is no need for personal contact in the whole remote identification process anymore.
Gas is of particular economic importance for Austria. In addition to production, infrastructure (including the Baumgarten gas hub), transportation, trade, and supply-secure coverage of gas demand play a major role. Yearly demand of roughly 80 to 90 terawatt-hours, constant over the last ten years, is generated by the manufacturing and energy sectors, non-energy consumption, agriculture, private households, power plants as conversion applications, transport, and the service sector. With a share of about 15%, gas also plays an important role in Austria’s electricity generation, primarily by providing flexible capacities that can be utilized at short notice to stabilize the power grid.