Dorda

Austria

IFLR1000 Reviews

Financial and corporate

Founded in 1976, Dorda is a leading Austrian firm based in Vienna that is broadly strong in financial and corporate transactional work.

 

Focusses / specialisms

The firm is active and strong in all areas of work covered by Austria’s ranking categories and is among the leading advisors in the country for public M&A and equity capital markets work.

In lending and finance work the firm is frequently instructed to advise as local counsel on large cross-border deals such as syndicated loans, export financings and debt restructurings. Its work in this area is generally divided fairly evenly between advising lenders and borrowers.

Capital markets is an area where the firm is often lauded by clients as one of the best firms in Vienna for preparing Austrian IPO prospectuses, and it features on most large IPOs on the Vienna Stock Exchange for one side or the other. It also has experience in bond issues and structured finance, where it is generally on the banks’ side.

In a related specialism to equity capital markets work, the firm is arguably the country’s leading public M&A expert and general works on what large Austrian public acquisitions there are. 

In the restructuring area the firm is good on the debt side and has worked on several of the largest Austrian cases over the last few years (Heta and Steinhoff, for example), representing creditors.   

 

Key clients

The firm has strong connections with the banking industry, and has advised ING-Diba, UBS and HSBC.

 

Research period review: 30th edition (2019/2020)

During the research cycle the firm was active in banking, capital markets, M&A and restructuring and insolvency.

In the banking area the firm has been advising on PSD2 rules, acquisition finance and bridge loans. It has mostly been working on the side of lenders (international banks), but has recent experience advising borrowers too.

In the capital markets area the firm has been advising  on rights issues, private placements, and purchasers of bonds, advising underwriters, structuring agents and purchasers.

The firm’s recent corporate transactional work includes a number of cross border deals, including joint ventures, acquisitions, and distressed sales. The firm often advised buyers in M&A including on deals in the technology, food, banking and gambling sectors. 

The firm also displayed its skills in restructuring and insolvency, broadly assisting creditors, particularly in cross border matters. 

 

Deal highlights: 30th edition (2019/2020)

ADIA / Triton acquisition of IFCO Systems 

Air Rescue €1.4 billion tender offer

Alpine Bau €8 million restructuring 

Ams €1.65 billion rights issue 

bauMax restructuring 

Emmi acquisition of Leeb Biomilch 

LG acquisition of ZKW Group 

Miba / Zollern Joint venture 

PORR €150 million hybrid bond issue 

SAZKA Group acquisition of 17.2% stake in Casinos Austria 

Steinhoff restructuring  

Volkswagen Bank acquisition of a Credi2

VR Equitypartner acquisition of SIGNON Austria

 

Client feedback: 30th edition (2019/2020)

M&A

“They are fully committed and a reliable partner in M&A transactions.”

“We really like their work, especially that they are always able to find a solution that works, no matter how difficult the problem is. They do not try to optimize their fee (by charging endless hours) but the output for the client.”

“I was extremely impressed to see that level of professionalism, experience and "Anglo-American M&A capabilities" in a firm in Austria.”

“Network to international law firms detailed, in-depth and fast advice of legal restructuring topics.”

“Efficient, results-oriented, excellent availability and communication and excellent price/value.”

“High quality of legal work, very structured, work very friendly, easy to deal with and very responsive.”

“Absolutely reliable, considers in-house aspects and not only isolated legal issues, provides advice that is useful for a Head of Legal (short, precise, and if somehow possible with a clear statement/advice what to do). Reachable any time and superb response time.”

“Combines excellent local expertise with the relentless client focus one usually associates with global firms. Full scope of services in all relevant areas of law; seamless cooperation between the senior partners.”

 

Andreas Mayr

“Very broad set-up, combines excellent M&A expertise with strong capital markets knowledge, good sense and client guidance regarding practicalities of Austrian law and chance/risk assessments.”

“Excellent knowledge of law, precise, results-oriented advice and efficient.”

 

Christian Ritschka

“Accurate, precise, reliable, in time, stays cool in all situations, reachable any time and has top legal knowledge.”

“Christian works hard (also over the weekends if needed) and is fully dedicated. He really knows what he is doing and is able to lead a transaction and get it done. We don't want and often don't have the time to negotiate a deal for months und he understands this time saving approach. Therefore, he is rather pragmatic, but still gets us the points which are important for us. The result is always very good for us.”

“Christian is a very dedicated and yet pragmatic lawyer, he knows the critical issues to focus on. He has great experience with cross-border transactions and is a very well-versed lawyer.”

 

Felix Hörlsberger

“Calmness, comes immediate to the point, explains in short and easy steps the problems to be solved, describes opportunities”

 

Jürgen Kittel

“Our key contact is Jürgen Kittel, M&A partner at DORDA and leading DORDA's team in the above mentioned transaction since 2015. He is very business oriented, pragmatic and a fast thinker. He is able to come up with innovative and out of the box solutions in "impossible" situations and was able to successfully complete the deal for the client in an almost impossible situation. He (understandably) therefore has the trust of the principals of the client (who are very demanding) and has been not only negotiating on the legal level, but also been involved in all commercial discussions. From my experience as M&A partner at Boies Schiller, and formally with my association with Sullivan & Cromwell and other major law firms, I consider him a top notch M&A lawyer.”

 

Martin Brodey

“Martin is a very experienced M&A and corporate lawyer whose asset is to get deals done. He is very proactive in bringing matters to a solution, quick response time and has a very good approach in considering and combining legal and economic aspects of any given issue.”