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News January 2025

Important notice to our Clients and Contacts: Beware of impersonation emails

6 January 2025 – It has come to our attention that some companies in our countries (most recently from the Czech Republic, Hungary, and Slovakia) have received unauthorised fraudulent emails falsely claiming to originate from Kinstellar. This appears to be part of an illegal scam (fraudulent impersonation) campaign. We assure you that these fraudulent emails did not come from our official Kinstellar domain and have nothing to do with our Firm. Our IT and Risk & Compliance teams are giving this matter their highest priority and are actively investigating the issue. We are bringing this matter to the relevant authorities. Importantly, this illegal scam campaign appears to have been

News January 2025

Kinstellar announced the promotion of Mario Kijanović to Managing Associate in Belgrade

Kinstellar is pleased to announce the promotion of Mario Kijanović from our Belgrade office to Managing Associate. Mario's expertise spans a variety of sectors, including renewable energy projects, commercial and industrial leasing, acquisitions, disposals, and complex capital transactions. He has assisted a wide range of clients, from the public sector to some of the world's largest property and renewable energy project developers. Mario has provided advisory services on major acquisitions for leading international clients such as Two Rivers, Besico, and Strabag, further solidifying his reputation as a trusted advisor. Mario is also recognized as a Rising Star in Real Estate and Construction by Legal 500

News January 2025

Kinstellar announces the promotion of Martin Baraniak to Managing Associate in Bratislava

Kinstellar is delighted to announce the promotion of Martin Baraniak from our Bratislava office to Managing Associate effective 1 January 2025. Martin has more than 13 years of legal experience, specialising in IP&T, digital business, corporate, and commercial law. Since joining Kinstellar, Martin has co-led the local TMT department alongside Lukáš Mrázik. He has extensive experience leading legal cross-border teams and projects, with a focus on the automotive sector. Martin also provides day-to-day corporate business advice, advice on anti-money laundering, data protection, and public procurement/PPP. Martin's promotion is a proof that hard work, determination, and the ability to exceed expectations do

Insights January 2025

Updates to gambling regulations in Ukraine

The Ukrainian parliament recently adopted Law of Ukraine No. 4116-IX[1] to combat gambling addiction (ludomania) and to improve the state regulation of activities related to the organisation and conduct of gambling and lotteries. Most of the amendments will come into force on 1 April 2025. The main changes, inter alia, include: 1. The abolition of the Commission for the Regulation of Gambling and Lotteries and the establishment of a new authorized body. 2. A significant expansion and detailing of applicable rules concerning the advertising of gambling, including: a prohibition on using patriotic themes and topics related to the war with Russia, and on using volunteers and military personnel

Deals January 2025

Kinstellar advises BHM Group on the acquisition of Prague Port Group

Kinstellar provided legal advice to BHM Group on the acquisition of a majority stake in Prague Port Group. The transaction, which included the purchase of a stake from the second shareholder, strengthened BHM Group's position in the market and facilitated the consolidation of the ownership structure of this key company operating aparthotels and hotels in central Prague. Kinstellar's team provided comprehensive legal support throughout the transaction, including assistance with legal due diligence, negotiation of transaction documentation, and advice on financing secured through J&T Bank. The Kinstellar team was led by Jan Juroška (Managing Partner) and Matěj Večeřa (Managing Associate), with the support

Deals January 2025

Kinstellar successfully closes the landmark Project Bluesky transaction

Kinstellar Budapest, acting as the lead counsel for Hungary, has successfully closed the landmark Project Bluesky transaction, advising the Hungarian Power Exchange (HUPX) and the Hungarian Transmission System Operator, MAVIR. As part of the particularly complex Project Bluesky transaction, EMS (Serbian Transmission System Operator), ELES (Slovenian Transmission System Operator) and EPEX SPOT (European Power Exchange SE) agreed to the cross-border transformation of the Slovenian ADEX Skrupina holding company, into a Hungarian company, ADEX Szervezett Villamosenergia-piac Holding (ADEX HU). Kinstellar advised on the Hungarian law aspects and implementation of the cross-border transformation, while ODI Law Firm acted as

Deals January 2025

Kinstellar advises Mitiska REIM on the acquisition of land in Bratislava for the construction of a retail park

Kinstellar has successfully advised First Retail International 2 ("FRI 2"), a closed-end real estate value-added fund managed by Mitiska REIM, on the acquisition of land in the Slovak capital, Bratislava, for the construction of the "Podunajská brána" retail park, through a joint venture between Mitiska Group and Asset Services, a Czech provider of development, property and facility management services. Work at the site has already begun. Managed by Mitiska REIM, a leading specialist investment management company in European convenience real estate, FRI 2 invests exclusively in retail parks, both clustered standalone units and integrated retail properties. The fund has already deployed more than EUR 200 million

News January 2025

Kinstellar strengthens its Corporate and M&A team in Hungary, with a senior hire

Kinstellar is delighted to announce the return of László Palócz, a leading M&A lawyer, to our Budapest office, as Counsel, effective 20 January 2025. László spent over six years at Kinstellar earlier in his career, during which his outstanding work on complex corporate M&A transactions and real estate matters earned him a promotion to Senior Associate. László brings in-depth expertise in multiple industries, having represented global investors, asset managers, and multinational corporations in landmark projects, including acquisitions, disposals, and lease negotiations. He has played key roles as part of various high-profile M&A transactions advising on complex legal matters and also has significant

Insights January 2025

Changes to the definition of ultimate beneficial owner in Slovakia

With effect from 15 January 2025, Slovak Act No. 297/2008 Coll. on the Protection against Legalisation of Proceeds from Crime and on the Protection against Financing of Terrorism (the AML Act) has been amended to expand the definition of ultimate beneficial owner (the UBO). While the original criteria for identifying UBO remain in force, some other natural persons will be now newly identified as UBOs under the AML Act. 1     Who qualifies as a UBO under the amended criteria? 1.1     General partnership and limited partnership For a general partnership (in Slovak: verejná obchodná spoločnosť) and a limited partnership (in Slovak: komanditná spoločnosť), a UBO is a natural person who: (a)

About us

Kinstellar acts as trusted legal counsel to leading investors across Central and Eastern Europe (CEE), Southeast Europe (SEE) and Central Asia. Our reputation for quality, excellence and integrity speaks for itself.

With offices in 12 jurisdictions and over 300 local and international lawyers, we deliver consistent, joined-up legal advice and assistance across diverse regional markets – together with the know-how and experience to champion your interests while minimising exposure to risk.

Our clients include leading international and regional corporations, banks and other financial institutions, state bodies, multi-lateral institutions, and international law firms with clients that require top-quality legal counsel in our jurisdictions. We handle the most important and complex assignments for clients across diverse industries and business sectors.

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With expert local knowledge and a track record at the international level, our lawyers provide top-tier advice and client service in Central and Eastern Europe (CEE), Southeast Europe (SEE) and Central Asia.

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Newsfeed

📢 🇭🇺 Kinstellar has successfully closed the landmark Project Bluesky transaction, advising HUPX Hungarian Power Exchange Ltd. and MAVIR Hungarian Transmission Operator Co. in one of Hungary’s most complex cross-border transformations. 💼 The advisory team was led by Kinstellar’s experts, supported by ODI Law, acting as Slovenian legal counsel. 🌟 Our team was led by Gábor Gelencsér (Partner, M&A), with the support of Péter Vörös (Partner, Competition); Aron Barta (Senior Associate, M&A); Gullai Péter (Managing Associate, Energy); Orsolya Staniszewski (Associate, Competition), and Judit Sós (Associate, M&A). Read more 🔗 https://lnkd.in/dtvqV-9h #Kinstellar #KinstellarUpdates #DoneDeals #Hungary #LawUpdate #ProjectBluesky

Kinstellar has successfully advised First Retail International 2, a closed-end real estate value-added fund managed by Mitiska REIM, on the acquisition of land in Bratislava for the construction of the “Podunajská brána” retail park, through a joint venture between Mitiska Group and Asset Services, a Czech provider of development, property and facility management services. 🌍 🏗️ Work at the site has already begun! Kinstellar assisted FRI 2 throughout the entire transaction process, including due diligence, preparation and negotiation of the Asset Purchase Agreement, transaction documentation, signing and closing, as well as support with the negotiation and drafting of lease agreements for the future retail park. 📝 Our team in Bratislava consisted of Roman Oleksik (Partner), Dáša Labašová (Managing Associate), and Martin Dančo (Junior Associate). 🎉 🔗 https://lnkd.in/drfQv6Vx #Kinstellar #MitiskaREIM #FRI2 #Bratislava #RetailPark #RealEstate #Investment #Development #MitiskaGroup #AssetServices #LegalAdvisory #Teamwork #Success #Construction #RealEstateInvestment

📢🎤 Daniel Bilak, Partner in our #Ukraine office, will participate in the panel discussion "Business Models and Future Funding Strategies of European DefTech" at the Europe-Ukraine defence cooperation conference at the French Sénat on 28 January. The conference is organised by Eastern Circles under the patronage of Nadia Sollogoub, President of the France-Ukraine friendship group in the French Senate. Leading experts and decision-makers from across the defence sector from Ukraine and Europe will explore how the deftech revolution in Ukraine is influencing defence strategy and policy choices in Europe. 📅 When: January 28, 2025 📍 Where: Luxembourg Palace, 15 ter rue de Vaugirard, 75006 Paris 🔗 Register now: https://lnkd.in/dFQM4wTb #DefenceCooperation #UkraineEuropePartnership #DefTech #InnovationInDefence #EuropeanSecurity #InTheKnow

🎥 Missed our conference on "Changes to Legislation in the Czech Republic in 2025"? On 15 January, we hosted an insightful online session for senior managers, partners, and regional leaders. Our experts explored the most significant legal updates in Czech and European law for 2025 and discussed their practical impact on businesses. Key highlights included: 💡 An overview of new laws and regulations affecting day-to-day operations. 💡 Analysis of recent landmark rulings by the Czech Constitutional Court. 📺 The full recording (in Czech) is now available: https://lnkd.in/dfvvreMC We also want to thank everyone who attended the afternoon offline event 🥂—it was wonderful to connect in person! Check out this short behind-the-scenes video 🎥. Stay informed and prepared for 2025 with Kinstellar! For questions, contact Luděk Wojnar at . #Kinstellar #LegalUpdates #Legislation2024 #CzechRepublic #OnlineConference

📢 🇺🇦 Watch Live Now! Ukraine House Davos Defence Tech panel – moderated by Daniel Bilak, Partner at Kinstellar 💡 In It to Win It: Ukraine’s DefenceTech is transforming the War, Ukraine, and the World 📅 21 January 2025 ⏰ 15:30 CET (16:30 Kyiv time) 📍 Watch Live on YouTube here: https://lnkd.in/djhbnpBq Is the war winnable? Have we entered the era of machine-on-machine warfare? And much more in this compelling discussion on how Ukraine’s DefenceTech is reshaping warfare and global security. #DefenceTech #Ukraine #Innovation #DavosForum #Kinstellar #PanelDiscussion

📢 🇭🇺 Kinstellar is delighted to welcome back László Palócz as Counsel to our Budapest office! László, a leading expert in M&A, returns after six successful years at Kinstellar earlier in his career. He has advised global investors, asset managers, and multinational corporations on landmark transactions and brings valuable in-house M&A experience to our team. We’re excited to have László back, strengthening our Corporate and M&A practice in Hungary and beyond! 🙌 🔗 https://lnkd.in/dfa4fCeT #exceptionaltogether #Kinstellar #MandALaw #CorporateLaw #LegalExpert

💡 Changes to the AML Act in Slovakia – here’s what you need to know 📌 Effective 15 January 2025, Slovak Act on the Protection against Legalisation of Proceeds from Crime and on the Protection against Financing of Terrorism has been amended to expand the definition of ultimate beneficial owner. While the original criteria for identifying UBO remain in force, some other natural persons will be now newly identified as UBOs under the AML Act. ✒️Livia Miklenčičová (Senior Associate) and Laura Bugajová (Junior Associate) have put together an overview of the recent changes. Read more 👉 https://lnkd.in/dEZzBm4K #Kinstellar #KinstellarUpdates #ExceptionalTogether #Slovakia #AMLAct #Legal #InTheKnow #LeadingLawyers

🎉 Congratulations to Daniel Bilak, Partner at Kinstellar Ukraine, on being elected to the Executive Committee of the U.S.-Ukraine Business Council (USUBC) for 2025! 🇺🇦🤝🇺🇸 We are proud of Daniel’s leadership and his dedication to strengthening U.S.-Ukraine business relations. 👏 #Kinstellar #USUBC #Leadership #Ukraine #BusinessGrowth #Partnership #ExceptionalTogether

🎉 Proud to share that #Kinstellar has been ranked among the top 10 law firms in Central and Eastern Europe by deal value in #Mergermarket's full year #2024 M&A League Tables! 🌟 🇹🇷 Our KST Law team in #Turkey is ranked 3rd by deal value in the country. 🚀 🙏 A big thank you to our clients for their trust and to our incredible teams for their hard work and determination in winning and closing these impressive deals. Onwards and upwards, #TeamKinstellar. #donedeals #ExceptionalTogether #Mergermarket #MALeagueTables #CEEMA #Kinstellar