Kinstellar to continue the operation of Noerr’s CEE practice
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News, deals & insights

Deals August 2024

Kinstellar advises on a joint venture related to the acquisition of a strategic building for the development of the space sector in Bulgaria

Kinstellar advised Peter Mitev, co-founder and former CEO of Chaos Group, a global leader in computer graphics technologies, and Big Orange Foundation, on the legal aspects of their joint venture with Raycho Raychev, founder and CEO of Endurosat, one of the fastest growing satellite companies in the world, in relation to the acquisition of a landmark 17,000 sqm building in Sofia, Bulgaria. The building is strategic for Endurosat's vision for the development of the space sector and will be used for space research and other key operations. The acquisition of the building, formerly the headquarters of Alpha Bank, is the largest office transaction on the Bulgarian real estate market for the year 2024 to date. The Kinstellar

Deals August 2024

Kinstellar advises Mitiska REIM on a joint venture with Park Lane Developments for the development of retail parks in Bulgaria

Kinstellar has advised the Mitiska European Real Estate Partners 3, a real estate fund managed by Mitiska REIM, on its entry into the real estate market in Bulgaria through a joint venture (JV) with Park Lane Developments. Mitiska REIM, the leading specialist investor in European convenience real estate, and Park Lane Developments, a leading commercial property company developing and managing prime office, logistics/light-industrial, and retail park assets in CEE, plan to develop and open at least five prime retail parks in Bulgaria over the next five years. Kinstellar advised on the structuring and implementation of the JV. The team was led by Partner Antonia Mavrova (Head of Real Estate, Construction &

Insights August 2024

Changes to the Czech Labour Code applicable from 1 August 2024 and 1 January 2025

Minimum salary A new methodology for determining minimum salaries has been implemented. In line with EU legislation, from 2025 the minimum wage will be determined by an indexation mechanism and be announced by the Ministry of Labour and Social Affairs no later than on 30 September for the following year. The guaranteed salary grading (an additional “minimum” salary scaled according to the complexity of the given work) has been abolished as obsolete. Accordingly, from 1 August the only minimum salary amount which employers must adhere to is the minimum salary, determined and announced as above. The proposed (not yet approved) level of the minimum salary is 42,2 % of the average salary, i.e. CZK 20 600 for 2025

Deals July 2024

Kinstellar advises China Southern Power Grid International on the acquisition of a non-controlling stake in ACWA Power’s two wind farm projects in Uzbekistan

Kinstellar is delighted to announce that we have successfully advised China Southern Power Grid International on its acquisition of a 35% stake in ACWA Power Bash Wind Project Holding Company Limited and ACWA Power Uzbekistan Wind Project Holding Company holding 100% in Bash and Dzhankeldy Uzbek project companies, respectively. The projects represent a combined 1 GW capacity and over USD 1.3 billion of investments. This transaction marks the first acquisition of large-scale renewable energy projects in Uzbekistan. Each of Bash and Dzhankeldy wind farm plants is developed based on a ‘Build, Own, Operate, Transfer’ model and consists of 79 wind turbines (158 turbines in total) that will generate 3,235 gigawatt-hours

Deals July 2024

Kinstellar assists Globalworth again on a logistics portfolio sale in Romania

Kinstellar is delighted to announce that it has again successfully advised Globalworth, an AIM-listed, leading office investor in Poland and Romania, on the sale of a logistics portfolio in Romania, to the buyer WDP. The transaction closed in July 2024, being one of the largest logistics transactions in Romania to date in 2024. The portfolio sold to WDP was a joint venture with Global Vision, and includes sizeable lettable logistics and industrial facilities as well as land bank in Chitila, Constanta and Targu Mures. This transaction follows on the heels of Globalworth’s sale of another logistics portfolio to CTP earlier this year in May. Kinstellar provided comprehensive support on all aspects of the transaction.

Insights July 2024

Czech Republic is preparing a new incentive scheme for the video games industry

The Czech Republic will soon join a group of European countries that offer incentives to the video games industry. The video games industry has been one of the fastest growing sectors in the Czech Republic in recent years, and enjoys an excellent reputation worldwide – despite the lack of any kind of state support. However, this will likely soon change with the adoption of an amendment to the Czech Act on Audiovision (the “Amendment”). Some of the most significant new changes introduced by the Amendment are the transformation of the current Czech Film Fund into the Czech Audiovisual Fund (the “Fund”) and the extension of the state incentive system to include the video games industry. According to the Amendment

Deals July 2024

Kinstellar advises Strickland Metals in major gold mining acquisition in Serbia

SOG in cooperation with Kinstellar is proud to announce its role as legal counsel to Strickland Metals Limited, an ASX-listed mineral exploration company from Australia, on its acquisition of Zlatna Reka Resources d.o.o. Beograd-Vracar. This acquisition marks a significant development in Serbia’s burgeoning mining industry, as the project holds an impressive 5.4 million ounce gold resource. Kinstellar’s team, led by Senior Associates Sara Ostojić and Mario Kijanović, as well as Associate Vuk Vučković, provided comprehensive legal services for this acquisition. Our involvement included a thorough legal due diligence of the mining titles, permits, and accompanying documentation of the target company. Zlatna

News July 2024

Kinstellar continues to grow its Bucharest team, adding 6 new hires in the real estate, banking and finance, and competition law areas

Kinstellar is pleased to announce the successful completion of a new recruitment round, welcoming six lawyers to its growing team in Bucharest. The new additions bolster the local team’s offering in the real estate, banking & finance, and competition practices, addressing the increasing demand for specialized legal expertise in Romania. Denisa Constantin joined the real estate team as Associate. She has a proven track record of working on landmark transactions involving office, industrial, and agricultural assets, as well as renewable energy projects. Denisa has advised developers on due diligence, transaction documents, permitting, lease agreements, and superficies agreements, among others. Sandra Gheorghe

Deals July 2024

Kinstellar advises Genesis Capital on the acquisition of recruitment agency Předvýběr.CZ

Kinstellar’s Prague office has successfully advised Genesis Growth Equity Fund I, part of the established private equity group Genesis Capital, on the acquisition of a majority stake in Předvýběr.CZ. Genesis Growth Equity Fund I (GGEF I), a private equity fund focused on growth investments in small and medium-sized enterprises operating mainly in the Czech Republic and Slovakia, partnered with the founding owners, František Boudný and Vladimír Kočí, who will retain a significant minority share and remain actively involved in the company's management. Předvýběr.CZ, founded in 2008 and based in Prague, specialises in the time-consuming aspects of candidate recruitment for mid-level and lower-level positions.

About us

Kinstellar acts as trusted legal counsel to leading investors across Emerging Europe and Central Asia. Our reputation for quality, excellence and integrity speaks for itself.

With offices in eleven 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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*2022 rankings in core practice areas in international legal directories (Chambers & Partners, Legal 500, IFLR1000)

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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 Emerging Europe and Central Asia.

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Newsfeed

🏦 💡 The evolving crypto market makes understanding regulation crucial. The EU’s Markets in Crypto Assets Regulation (#MiCA) is set to harmonize digital asset laws across member states by 30 December 2024. 🔎 Our latest guide breaks down the MiCA implementation status across Kinstellar’s jurisdictions, providing key #insights for navigating this complex legal landscape. 📩 For more details, contact Illya Muchnyk, Partner and firm-wide Head of #Fintech. #CryptoRegulation #MiCA #DigitalAssets g#Compliance #LegalInsights #intheknow #exceptionaltogether

📢 🇨🇿 The "Corporate Acquisitions and Mergers in the Czech Republic, Fourth Edition" is now available, offering essential insights and practical guidance for legal practitioners and business leaders navigating mergers and acquisitions in the Czech Republic. 📚 🌟 Our colleagues Petr Mestanek (KM and Legal Tech Director), Lukas Sevcik (Partner) together with Bohdana Pražská from Kemp Hoogstad have played a key role in contributing to this publication, which is part of the International Encyclopaedia of Laws by Wolters Kluwer. 👏 A huge congratulations to our team for their exceptional work and dedication! #LegalTech #MergersAndAcquisitions #CzechRepublic #CorporateLaw #intheknow #exceptionaltogether

🇧🇬 🏙️ We are delighted to have advised the Mitiska European Real Estate Partners 3, a real estate fund managed by Mitiska REIM, on its entry into the real estate market in #Bulgaria through a joint venture (#JV) with Park Lane Developments. 🔎 Kinstellar advised on the structuring and implementation of the JV. 🏗️ Mitiska REIM, the leading specialist investor in #European convenience real estate, and Park Lane Developments, a leading commercial #property company developing and managing prime office, logistics/light-industrial, and retail park assets in CEE, plan to develop and open at least five prime retail parks in Bulgaria over the next five years.   🌟 The team was led by Partner Antonia Mavrova (Head of Real Estate, Construction & Panning in Bulgaria) and Atanas Mihaylov (Counsel and Head of Tax Practice) and includes Denitsa Kuzeva (Senior Associate) and Yasen Toshev (Associate). 🔗 https://lnkd.in/d9-VKC6N #donedeals #RealEstateInvestment #CommercialRealEstate #RealEstateDevelopment #RetailParks #CEERealEstate #BulgariaInvestment #JointVenture #PropertyDevelopment #MitiskaREIM #ParkLaneDevelopments #RealEstateNews #PrimeRealEstate

📢 Our employment team has prepared an insightful overview of the upcoming changes to the Czech Labour Code, effective from 1 August 2024 and 1 January 2025. 📅 To get all the details, please check out the following slides. For further inquiries, feel free to contact Iva Bilinska. 📩 #intheknow #exceptionaltogether #leadinglawyers

🇺🇦 🌟👏 Proud to share our results in the Ukrainian Law Firms. A Handbook for Foreign Clients 2023-2024. 🥇 Leading firm in #Corporate and M&A; #Infrastructure; #Telecommunications. 🥈 17 established areas/industries. 🏆 10 individual rankings. 🙏 “Thank you for the great team work and your inputs, which made these results possible. Regardless the circumstances, we continue doing our work to the highest standards,” comments Olena Kuchynska, Office Managing Partner, Kyiv. 🎉 Our heartfelt congratulations go to our resilient #Ukrainian team. Way to go! 🚀 📖 More details https://lnkd.in/gZ5FcYpD 👇 #exceptionaltogether #LawFirms #Kinstellar #LegalAchievements #NotableTransactions #Recognition #teamwork #leadinglawyers #leadinglawfirm

📢 RO Honoured for having contributed to the fourth edition of the #Corporate #Acquisitions and #Mergers in #Romania report by Wolters Kluwer and the International Encyclopaedia of Laws ✨.   🗺️ Derived from Kluwer’s extensive multi-volume work, Corporate Acquisitions and Mergers—the most comprehensive database of M&A expertise—this chapter offers a concise and practical analysis of the current laws and practices governing #mergers and acquisitions of public and private companies in 📍Romania.   Key areas include: ✅ structuring the #transaction ✅ due #diligence ✅ contractual protection ✅ #competition#tax ✅ intellectual property ✅ #environmental law ✅ #data protection ✍🏻 Kinstellar’s team was coordinated by Partners Zsuzsa Csiki and Iustinian Captariu, and included Mihai-Cristian Stan, Cosmin Vasilescu, Claudiu Ciubotaru, Cătălin Graure, Ioana Alexandra Popescu, Teodora Nicoschi, and Dana Sarbu - thank you to all of them 🙌!   📝 Read more here: https://lnkd.in/d4-5S458 #intheknow #mergersandacquisitions #transactionsRomania #WoltersKluwerreport

💨 🇺🇿 Kinstellar is delighted to announce that we have successfully advised China Southern Power Grid International on its #acquisition of a 35% stake in ACWA Power Bash Wind Project Holding Company Limited and ACWA Power Uzbekistan Wind Project Holding Company holding 100% in Bash and Dzhankeldy #Uzbek project companies, respectively. 💡 The projects represent a combined 1 GW capacity and over USD 1.3 billion of #investments. 💡 This transaction marks the first acquisition of large-scale renewable energy projects in #Uzbekistan. 👉 Each of Bash and Dzhankeldy #wind farm plants is developed based on a ‘Build, Own, Operate, Transfer’ model and consists of 79 wind turbines (158 turbines in total) that will generate 3,235 gigawatt-hours displacing nearly 2 million tons of carbon dioxide equivalent a year. 💼 As Uzbek law counsel, Kinstellar provided comprehensive jurisdictional advice, conducted due diligence in respect of project and #finance documents, advised on transactional, #corporate governance, #regulatory, and other matters. ⭐ The team was led by Sher Yunusov, Partner, with the support of Jakhongir Azatov, Associate, Umid Abdullaev, Junior Associate, and other members of our #Tashkent team. 🔗 https://lnkd.in/d4ViycYj #donedeals #RenewableEnergy #WindEnergy #Uzbekistan #EnergyTransition #SustainableEnergy #CleanEnergy #GreenEnergy #EnergyInvestment #GlobalEnergy #SustainableDevelopment #EnergyAcquisition

📢 🇷🇴 🏪 Delighted to announce that the #Bucharest team has again successfully advised #Globalworth, an AIM-listed, leading #office #investor in Poland and #Romania, on the #sale of a #logistics portfolio in Romania, this time to the buyer #WDP. 👉 The portfolio sold to WDP was a joint venture with Global Vision, and includes sizeable lettable logistics and industrial facilities, as well as land bank in 📍 Chitila, Constanta and Targu Mures. 🚩 The #transaction is one of the largest logistics transactions in Romania to date in 2024, and follows on the heels of Globalworth’s sale of another logistics portfolio to CTP earlier this year in May. 🤝 Kinstellar’s team was led by Counsel Catalin Dinu with support from Senior Associate Corina Alecsandra Stanciu and Associate Denisa Constantin ✨. 💬 #Bucharest managing partner and head of real estate, Victor Constantinescu, notes: “Our thanks to Globalworth for trusting us with the legal work for this sale. Like all transactions, it had its own challenges, and through hard work and the great teams involved on all sides of the transaction, it closed. My thanks to Catalin and colleagues for driving this – I am truly proud of our team.” 🔗 https://lnkd.in/d57cZM4n #donedeals #exceptionaltogether #realestatedeals #leadinglawyersRomania

🇷🇸 We are proud to announce that Kinstellar advised Strickland Metals Limited, an ASX-listed #mineral #exploration company, on the #acquisition of Zlatna Reka Resources. This acquisition, boasting a 5.4 million ounce gold resource, marks a significant milestone in Serbia’s thriving #mining sector. 🌟 Our dedicated team, led by Senior Associates Sara Ostojić and Mario Kijanović, and Associate Vuk Vučković, LL. M., provided comprehensive legal services, including meticulous due diligence on mining titles, permits, and related documentation. ⚒️ #Serbia’s mining industry is flourishing with substantial #investments and #growth. Rich in resources like copper, gold, and lithium, Serbia continues to attract international attention. 🔗 Click below to read the full article https://lnkd.in/dFFAT6wD #donedeals #MiningIndustry #Gold #Mining #CorporateLaw #Serbia