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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

Deals March 2025

Kinstellar advised Veolia on the acquisition of a stake in Veolia Energie ČR from ČEZ

Kinstellar has successfully advised Veolia on the acquisition of an additional 15% stake in Veolia Energie ČR from ČEZ, increasing its shareholding to more than 98%. This transaction marks a significant milestone in Veolia's long-term collaboration with ČEZ and further strengthens its position in the Czech energy market. Kinstellar provided comprehensive legal support throughout the transaction, including due diligence, negotiation of transaction documents, and regulatory aspects. The deal aligns with Veolia's GreenUp strategy, focusing on the transition to cleaner, local, and decarbonised energy sources. The Kinstellar team was led by Kamil Blažek (Partner) and included Michal Forýtek (Counsel), Matěj

Deals March 2025

Kinstellar advises Verny Capital on the sale of Burger King Kazakhstan operations

Kinstellar has advised Verny Capital on the sale of its Burger King operations in Kazakhstan. The transaction involved multiple jurisdictions, including Kazakhstan and English law, requiring the drafting and negotiation of detailed agreements. Verny Capital, a key player in expanding Burger King's presence in Kazakhstan, overseeing over 50 locations, successfully completed the sale as part of its strategic business decisions. The team was led by Counsel Pavel Kornilov and included Managing Partner Joel Benjamin, and Associates Kamila Serik and Usen Tastanbekov on Kazakhstan law, and Partner Hugh Owen, and Senior Associate Bianka Kovács on English law. Our team guided the transaction, focusing on the deal structure

Insights March 2025

CJEU confirms validity of asymmetric jurisdiction clauses in contracts

On 27 February 2025, the Court of Justice of the European Union (CJEU) issued a key ruling in the Lastre case (C-537/23) (the Judgment), confirming that asymmetric jurisdiction clauses in contracts are valid and in compliance with the Brussels I recast regulation and the Lugano II Convention. The Judgment provides greater legal certainty for parties, especially in cross-border contracts, as the validity and enforceability of such clauses had been previously questioned by some national courts. Asymmetric jurisdiction clauses allow one party of a contract to choose a competent court from jurisdiction of its choice in the event of a dispute, while restricting the other party to courts of only a specified jurisdiction. These

Deals March 2025

Kinstellar advises Madison Debt Holdings on the sale of Conexio Metro to A1 Serbia

We are pleased to have advised Madison Debt Holdings on the successful sale of Conexio Metro DOO Beograd, the owner of a metro optic network in Belgrade, to A1 Serbia. The metro optic network, running through the sewage system to connect end-users, is a unique and highly sought-after telecom infrastructure in Serbia. Kinstellar's Belgrade team provided expert guidance through one of the most complex transaction structures in the market, crafting the corporate spin-off process and leveraging deep industry knowledge to ensure the successful carve-out of the metro network into a newly established company. This paved the way for a seamless share sale to A1 Serbia of spun off telecom assets. The Kinstellar team

Insights March 2025

The rise and fall of DEI: What employers need to know

DEI has become a societal megatrend that demands attention. While many companies made DEI initiatives a part of their business strategies, others are scaling back their efforts citing shifting priorities, economic pressures or even political and social pushback. The enthusiasm that once fueled widespread DEI adoption is now met with increased scrutiny. Some question the return on investment and the effectiveness of these programs, whole high-profile layoffs in DEI teams and budget reductions signal that the once unstoppable momentum of DEI may be encountering resistance. Yet, stepping back from DEI is not without risks. In Romania, companies deprioritizing DEI may face not only reputational damage, but also legal and employee

Insights March 2025

New regulations in Romania on the dual use of permanent grasslands for renewable energy projects

On 10 January 2025, Order No. 4/2025 came into force, detailing the procedure for the partial removal of land occupied by permanent grasslands from agricultural use when utilised in a dual system. The use of permanent grasslands in a dual system is of particular interest to investors in the renewable energy sector. Legislative background In principle, the possibility of using permanent grasslands in a dual system—both for agricultural production and for generating electricity from renewable sources—was already regulated since 2022. This was introduced by Law 254/2022 as an amendment to Law No. 18/1991 regarding land fund. However, in practice, numerous difficulties arose regarding the implementation of

Deals March 2025

Kinstellar and Linklaters advised the EBRD and Raiffeisen Bank International on their lending for the 238 MW Tenevo PV power plant in Bulgaria

Kinstellar Sofia acting as Bulgarian counsel, alongside Linklaters Milan acting as lead counsel, advised the EBRD and Raiffeisen Bank International on their lending to Tenevo Solar Technologies for the construction and operation of one of the largest PV power plants in Bulgaria. The total finance package of EUR 114 million will enable Tenevo Solar Technologies EAD, which is owned by Renalfa IPP and Eurowind Energy, to add 238 MW of solar generation capacity to the Bulgarian national energy system. This will be the first renewable energy plant over 100 MW that will sell all its output in the market without a support scheme or a corporate power purchase agreement in Bulgaria. Tenevo is also the first EBRD project in Bulgaria

News March 2025

Harald Strahberger, a leading regulatory lawyer, joins Kinstellar as Partner in Vienna

Kinstellar is delighted to announce that Harald Strahberger has joined our newly launched Vienna office as a Partner. His addition strengthens our public law and regulatory capabilities, further enhancing the firm's expertise in Austria and across the wider Central and Eastern European region. With extensive experience advising national and international clients across all aspects of public law, Harald specialises in environmental law (including facility, waste, and water regulations), energy law, trade law, data protection, and state aid law. He also has a strong background representing clients in administrative proceedings and before Administrative Courts, the Supreme Administrative Court, the Austrian Constitutional

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.

13
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300
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60*
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*2024 rankings in core practice areas in international legal directories (Chambers & Partners, Legal 500, IFLR1000)

Meet our people

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.

Our Team

Newsfeed

🎉Following our incredible team rankings, we’re proudly celebrating our outstanding colleagues recognized in the Chambers and Partners Europe Guide 2025. View the pictures to see the complete list of all 48 ranked lawyers! Congratulations to you all, and special kudos to our Band 1 ranked individuals, recognized as leading lawyers in their fields: 🥇 🇧🇬 Antonia Mavrova (Partner) – Real Estate 🥇 🇭🇺 Balazs Sepsey (Office Managing Partner) – Projects & Energy 🥇 🇭🇺 Csilla Andreko (Partner) – Banking, as well as Capital Markets 🥇 🇨🇿 Kamil Blazek (Partner) – Projects & Energy 🥇 🇨🇿 Klara Stepankova (Partner) – Real Estate 🥇 🇷🇸 Petar Kojdic (Partner) – Banking 🥇 🇷🇴 Victor Constantinescu (Office Managing Partner) – Real Estate 🥇 🇸🇰 Viliam Mysicka (Office Managing Partner) – Corporate/M&A We are also honoured to see our Firm Managing Partner, Ferenczi Kristóf, recognized for his outstanding work in the Projects & Energy field last year as an Eminent Practitioner. 🏅 👏 A huge thank you to all our recognized lawyers for your dedication. We remain committed to delivering top-tier legal services and looking forward to another year of outstanding achievements! #ExceptionalTogether #Award #ChambersEurope2025 #Recognition #ProudMoment #LawAward

🏆 We are honoured to announce that 44 of our departments have been ranked in the Chambers and Partners Europe Guide 2025! This recognition reflects the commitment, expertise, and impactful work of our lawyers across the region. A special congratulations to our Band 1 teams, whose outstanding work has been acknowledged at the highest level: ⭐ Bulgaria: Corporate/Commercial ⭐ Croatia: Dispute Resolution ⭐ Hungary: Banking & Finance and Projects & Energy ⭐ Slovakia: Corporate/M&A We’d like to extend our appreciation to all our teams highly recognized in this year’s rankings. Your hard work and talent are what make our firm stand out. Thank you to our clients for their trust and partnership. Here’s to another year of delivering an exceptional service! 🚀 Stay tuned, 🔜 we’ll soon reveal the exceptional lawyers who earned individual recognition in this year’s rankings! #ExceptionalTogether #Award #ChambersEurope2025 #Recognition #ProudMoment #LawAward #CEE #Europe

Yesterday, our team in Bratislava had the privilege of co-organising a business breakfast with AHK Slowakei (German-Slovak Chamber of Commerce) and KPMG in Slovakia, bringing together experts to discuss how Slovak companies can navigate financial risks amid Germany’s economic challenges affecting several countries in Europe.

📢 🇰🇿 We are proud to have advised Verny Capital on the sale of its Burger King operations in Kazakhstan. The transaction involved multiple jurisdictions, including Kazakhstan and English law, requiring the drafting and negotiation of detailed agreements. Verny Capital, a key player in expanding Burger King's presence in Kazakhstan, overseeing over 50 locations, successfully completed the sale as part of its strategic business decisions. 📈 💼 The team was led by Counsel Pavel Kornilov and included Managing Partner Joel B. Benjamin, and Associates Kamila Serik and Usen Tastanbekov on Kazakhstan law, and Partner Hugh Owen, and Senior Associate Bianka Kovacs on English law. Our team guided the transaction, focusing on the deal structure and drafting key agreements under both Kazakhstan and English law. This transaction highlights our experience in complex, cross-border M&A deals and demonstrates the strengthening of our presence in Astana. 🗺️ ⚖️ We are pleased to have supported Verny Capital through this significant step and remain committed to providing high-quality legal services in the region. 🔗 https://lnkd.in/dt9aUgCn #ExceptionalTogether #DoneDeals #MergersAndAcquisitions #LegalExcellence #Kazakhstan #Astana

🎬 Watch the first in a series of short videos from our Tax and Financial Advisory team in Bucharest. 📍🗺️ In this introductory clip, we address your questions about what has changed with the integration of Noerr’s CEE practice into our offices. 💡 Iulian Sorescu (Financial Advisor Partner and Head of Local Financial, State Aid & Management Consulting) and Theodor Artenie (Counsel and Head of Tax in Romania) talk about the seamless continuation of our operations in Bucharest, underscoring that the team’s commitment to providing high-quality tax and financial services is stronger than ever. 🚀 👉 Stay tuned for our next videos with further insights and updates about tax regulations, payroll, accounting, and state aid schemes in Romania! #ExceptionalTogether #InTheKnow #Bucharest #TaxAndFinance #Romania #Short #Video #Tax #Finance #QandA

🚨 🇪🇺 CJEU upholds asymmetric jurisdiction clauses   The CJEU has confirmed the validity of asymmetric jurisdiction clauses in its recent Lastre ruling (C-537/23). This decision provides clarity on the legal standing of such clauses in cross-border contracts, which resolves previous uncertainty from conflicting national court interpretations.   What does this mean? ✔ Asymmetric jurisdiction clauses—which allow one party to choose the competent court, commonly used in financial contracts—remain enforceable within EU member states and Lugano II Convention countries. ✔ Businesses and financial institutions involved in cross-border transactions should review their jurisdiction clauses to ensure compliance.   📖 Read our full article by Michal Hrušovský (Managing Associate) and Rebecca Hulalová (Junior Associate) here: https://lnkd.in/ddWJ5kfW   #ExceptionalTogether #InTheKnow #CJEU #LegalUpdate #CrossBorderContracts #FinancialLaw #Finance #AsymmetricJurisdiction

🌟 We are pleased to have advised Madison Debt Holdings on the successful sale of Conexio Metro DOO Beograd, the owner of a metro optic network in Belgrade, to A1 Serbia. 🎯 🔌 The metro optic network, running through the sewage system to connect end-users, is a unique and highly sought-after telecom infrastructure in Serbia. 🤝 Our Belgrade team provided expert guidance through one of the most complex transaction structures in the market, crafting the corporate spin-off process and leveraging deep industry knowledge to ensure the successful carve-out of the metro network into a newly established company. This paved the way for a seamless share sale to A1 Serbia of spun off telecom assets. 💼 Our team was led by Radovan Grbović (Partner), alongside Mina Sreckovic and Mario Kijanović (Managing Associates), with Vuk Vučković, LL. M., Jelisaveta Folić, and Djordje Ilijasevic (Associates). 🔗 https://lnkd.in/dgHAc66r #ExceptionalTogether #DoneDeals #Serbia #OpticNetwork #Telecommunications

8 March is an opportunity to celebrate the strength, resilience, and power of women all over the world. In line with this year’s #IWD theme, let’s continue to support one another and #AccelerateAction in creating a world of equality and empowerment. 

💼 The rise and fall of DEI: What employers need to know 🌍 #Diversity, #Equity, and #Inclusion (DEI) was once a key priority for businesses worldwide, but shifting economic and political landscapes are leading some companies to scale back. High-profile layoffs and budget cuts are raising concerns—yet stepping away from DEI comes with risks. 📌 What’s happening? Despite changing priorities, Romanian companies deprioritizing DEI may face reputational, legal, and employee relations challenges. Meanwhile, workplace transformations—remote work, the Great Resignation—have reinforced the need for inclusive policies. ⚖️ Key challenges & obligations: 🔹 Employers must balance DEI strategies with ESG compliance—neglecting the "S" in ESG could hurt their brand. 🔹 Labour authorities in Romania are increasingly scrutinizing discrimination and equal opportunity policies. 🔹 Employees demand fair workplaces—companies that invest in DEI see higher retention, engagement, and innovation. 💡 What’s next? 📄 Employers should develop a clear DEI plan with measurable goals and policies. 📑 Reviewing HR policies on discrimination, harassment, and equal pay is essential. 📊 Tracking DEI progress and impact will be key to long-term business success. 📖 Read the full article by Andrada Popescu to understand DEI’s evolving role and best practices: https://lnkd.in/dem_DsNn #ExceptionalTogether #InTheKnow #DEI #WorkplaceInclusion #HR #EmployeeEngagement #DiversityEquityInclusion #ESG #Romania