Within Corporate and M&A, CHSH Cerha Hempel Spiegelfeld Hlawati is a first tier firm,
CHSH Cerha Hempel Spiegelfeld Hlawati proved its worth in the market over the past year, producing an exceptional deal list. Said to be ‘ absolutely triple A’, work handled is often at the very top-end, and has included acting for Austria Tabak on a €2.6bn restructuring. Other highlights include advising Q-Cells on one of the first cross-border mergers to be seen in Austria. Benedikt Spiegelfeld leads the impressive department, which also fields star performers such as managing partner Albert Birkner (who is singled out by clients for praise), Peter Hoffmann, Clemens Hasenauer and Thomas Zivny. Clients praise the ‘ good network, good team, and flexible approach’.

Cerha Hempel's corporate department has a formidable reputation among peers and clients, particularly for its public M&A work. The firm has had a busy year, advising a range of buyers and sellers across a variety of sectors. Edith Hlawati and Thomas Trettnak advised Strabag in the acquisition from private-equity investors and management of a controlling share in leading toll service provider Efkon, utilising a complex three-tier acquisition structure. Hlawati and managing partner Albert Birkner also advised Hygiene Holding as shareholder in takeover proceedings by the AVW Group of Vienna-listed S&T. The €200 million transaction involved enforcement action by the Austrian takeover panel against AVW. At the end of Q1 2009, Clemens Hasenauer, Johannes Prinz and Peter Hiller advised OMV on the sale of its 21.2% stake in the Hungarian oil and gas company MOL to Surgutneftegas, one of the biggest producers in Russia. This was one of the largest deals of its kind in the oil and gas sector in Europe in recent times. Hasenauer and Prinz have also been advising OMV on its joint venture with Gazprom, Centrex Europe Energy & Gas and Wiener Börse, the operator of the Vienna Stock Exchange. This innovative deal involves the development of Central European Gas Hub, an Austrian hub operator, into a leading hub in continental Europe and the establishment of a central-European gas exchange for the trading of gas products on the spots and futures market.

Leading lawyers

Albert Birkner
Clemens Hasenauer
Edith Hlawati

Work includes strategic planning of M&A transactions, due diligence, a range of corporate transactions (including optimisation and tax driven restructurings), the set up of companies, corporations and partnerships, mergers, demergers, and spin-offs.

This firm seems to be recovering well from the 2007 loss of its real estate team, which moved to Schönherr. It has successfully maintained its strong position and continues to earn plaudits from commentators, who declare it “certainly one of the most prominent players in the Austrian legal market.” Sources commend its “fantastic levels of dedication and hard work,” along with its “superb capabilities when it comes to the most complex corporate transactions.” It is especially well regarded in the capital markets arena, making it a strong choice for major banking and finance transactions. In addition, the firm is highly active in the telecoms, aviation, and oil and gas sectors; currently, it is acting for OMV on its proposed takeover of MOL. Prior to this, it also advised on the joint venture between OMV and International Petroleum Investment Company relating to leading plastics solutions provider Borealis. Sources report that its ability to draw big-name clients can be attributed to its “outstanding support and consulting services.” Albert Birkner is widely admired for his ability to handle complex takeovers and general outbound business transactions. Sources report that “he has a constructive approach to negotiations - it’s a real pleasure to work on a deal with him.” “Thorough, commercial and highly experienced,” Clemens Hasenauer is considered a strong name in takeover law. He worked on the OMV deal, and his background in tax law makes him a real asset to clients, who appreciate his “excellent technical knowledge and exceptional understanding of the business partner’s role.” Capital markets expert Edith Hlawati is described as “an extremely strong practitioner.” She receives much praise for her work in privatisations, and sources see her as “one of the driving forces behind the firm.” Peers recognise name partner Benedikt Spiegelfeld as the leading franchising lawyer in Austria, and commend his diplomatic style, which has proven useful in many franchise-driven arbitrations. “I like the way he feels responsible for his clients - he's a real support, and not only in legal issues,” one client commented.

Leading

• Edith Hlawati
  Head of banking and corporate finance. Highly regarded lawyer with a substantial knowledge of commercial law and transaction management. Considerable experience of M&A, privatisations, banking and capital markets.