Eisenberger & Herzog advises on a new joint venture between ÖBB-Technische Services GmbH, LTE Logistik- und Transport-GmbH, and ELL Austria GmbH, for a new service center in the Vienna area
ÖBB-Technische Services GmbH, LTE Logistik- und Transport-GmbH, and ELL Austria GmbH are creating a joint venture to build and operate a service base for locomotives. The European Commission approved the joint venture without conditions after several weeks of discussions.
The joint venture will offer workshop and maintenance services to locomotives from all manufacturers at a strategically located base.
Besides going through merger control proceedings before the European Commission, a unique feature of the project was to ensure that commitments made in earlier merger proceedings were complied with in parallel. This challenge was mastered by a corporate governance of the new joint venture that was coordinated with the Austrian authorities. (See the German language article: BWB – Corporate Governance für das Joint Venture „Instandhaltungs GmbH“ der ÖBB-Technische Services GmbH, LTE Logistik- und Transport-GmbH und ELL Austria GmbH)
“We are very pleased that we were able to support our clients at this important milestone in the implementation of the project. Despite the challenging circumstances of the Corona-related lockdown, we were able to successfully complete the establishment of the joint venture. E&H has thus once again demonstrated its competence and familiarity in advising on complex transactions under difficult framework conditions,” said Dieter Thalhammer.
Eisenberger & Herzog: Dieter Thalhammer (Partner, Competition Law), Stefan Wartinger (Attorney, Competition Law), Stefanie Ziegler (Associate, Competition Law); Marco Steiner (Partner, Corporate/M&A), Philipp Schrader (Attorney, Corporate/M&A)