CHSH Cerha Hempel Spiegelfeld Hlawati delivers advice that is ‘highly practical and useful, and so is value for money. Its lawyers understand the business rationale of their clients’. The team has some enviable clients, including CEE construction company Strabag, Raiffeisen International Bank and OMV. Edith Hlawati is ‘prompt and helpful’, and Benedikt Spiegelfeld and Clemens Hausenauer are also recommended.

Both clients and competitors have picked up on the team approach of Cerha Hempel Spiegelfeld Hlawati. Albert Birkner drives the corporate practice, Edith Hlawati is the rainmaker and Volker Glas is the integrative figure. "He's often the mediator," says one peer, "resolving certain aspects of the work."A bottom-heavy practice can cause problems for clients, and the corporate team has been structured to ensure this doesn't happen. "They have a team, unlike some firms where you get one unique lawyer that covers all areas," says one bank client.Ten months after its signing, the firm closed the privatisation of Austrian Airlines. It acted for the target and the vendor, the government's ÖIAG, in the €1.8 billion disposal to German carrier Lufthansa. The sale is viewed as a rescue-sale with the buyer asking the government to inject €500 million prior to the transfer. The sale was by structured tender and it finished with a squeeze-out of minority shareholders.Another notable deal saw the firm represent OMV in the €1.4 billion sale of its stake in Hungarian oil company MOL to Russian oil producer Surgutneftegas. Edith Hlawati was praised as "an excellent lawyer and very dedicated," adding: "She's reachable 24 hours, seven days a week."

Leading lawyers
Albert Birkner
Clemens Hasenauer
Edith Hlawati

This much-praised team is considered a force in corporate and M&A law, especially on transactions with a capital markets element. Making full use of its CEE network, the firm has handled an increased amount of cross-border work for international and domestic clients. It advised OMV on the EUR1.4 billion sale of a 21% stake in MOL to Russian oil and gas company Surgutneftegas. In addition to energy expertise, the firm has strong knowledge of the real estate, airline, food, automotive and telecoms industries. Sources say: “A very solution-oriented firm. The team is always extremely timely and efficient.” “Very strong in corporate M&A – a great department. They win massive mandates.”Edith Hlawati is heralded as “the star of the show." She does an outstanding job, say peers, and "sees a lot of high-quality work coming her way.” She is best known for advising clients on the intersection between capital markets and M&A. Albert Birkner is active on transactions with a CEE focus and "has great understanding of takeover law.” Clemens Hasenauer is admired for his “tremendous career and impressive client list" as well as his pragmatic and hands-on style. He specialises in public M&A, and peers confirm he "is doing sophisticated work in the takeover field.” Thomas Trettnak is regarded as “a practitioner on the rise" in Austria’s active mid-cap M&A market. He is mainly seen on private equity and venture capital matters, and is commended for his organised and analytical approach. Benedikt Spiegelfeld completes the team as Austria's leading franchising specialist.

Lawyers: Albert Birkner (Band 2), Clemens Hasenauer (Band 2), Edith Hlawati (Band 2), Thomas Trettnak (Up and Coming)

Highly recommended