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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

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)

Insights January 2025

Online conference “Changes to legislation in the Czech Republic in 2025” (Změny v legislativě 2025)

On 15 January, Kinstellar's Prague office hosted an engaging online conference titled "Changes to Legislation in the Czech Republic in 2025". This event was specifically tailored for senior management, partners, and representatives of regional organizations. Highlights of the Conference The conference aimed to equip our clients and partners with an in-depth understanding of the latest laws, regulations, and directives that impact their daily operations. Our legal experts delved into the key changes to Czech and European law effective in 2025, offering practical insights on their implications for businesses. In addition, we examined significant recent rulings by the Czech Constitutional Court, highlighting

Deals January 2025

Kinstellar and KST Law assist Balderton Capital in leading the USD 30M Series A financing round for Grand Games

Kinstellar and KST Law are excited to have assisted Balderton Capital in leading the USD 30M Series A financing round for Grand Games, a visionary mobile gaming company focused on delivering genre-defining experiences. This significant milestone underscores Balderton's continued commitment to supporting innovative companies that push the boundaries of mobile entertainment. A special thanks to the KST Law team—our partner Emre Özer and associates Helin Akbulut and Nihal Dilan Cantürk—for their crucial support and expertise in completing this transaction successfully. Kinstellar operates in Turkey in cooperation with KST Law, a full-service corporate law firm based in Istanbul.

Deals January 2025

Kinstellar and KST Law assist Quexco Incorporated on successful completion of Mutlu Akü acquisition

Kinstellar and KST Law are proud to have successfully advised Quexco Incorporated, a US-based private holding company, on completing the acquisition of 100% of Mutlu Akü, a leading auto battery manufacturer in Türkiye with a waste battery recycling facility. This complex cross-border transaction involved financial structuring, including refinancing Mutlu Akü's debt and securing a capex loan facility, syndicated by Garanti Bank. The closing process was led by Partners Emre Özer and Mert Elçin, supported by Senior Associate Şeyma Olğun, and Associates Sıla Şaylı, Helin Akbulut and Nihal Dilan Cantürk. Kinstellar operates in Turkey in cooperation with KST Law, a full-service corporate law firm based

Deals January 2025

Kinstellar advises Genesis Growth on strategic stake in LLP Group

Kinstellar has successfully advised Genesis Growth Equity Fund I on the acquisition of a majority stake in LLP Group, a prominent business software consultancy specialising in financial and enterprise asset management solutions. Kinstellar provided legal counsel to Genesis Growth in this transaction, ensuring comprehensive guidance throughout the acquisition process. The deal marks a strategic investment aimed at accelerating LLP Group's growth and expanding its offerings globally. LLP's founders and shareholders will retain a minority stake, with a leadership transition appointing Tim Smulders as CEO. The advisory team was led by Kinstellar's experts, supported by Brouxel & Rabia, with Grant Thornton

Deals January 2025

Kinstellar advises European Imaging Group on acquisition of MEGAPIXEL

Kinstellar has successfully advised European Imaging Group Limited (EIG), a portfolio company of the Aurelius Group, on the acquisition of MEGAPIXEL, a leader in the Czech market for photographic equipment and related services. Kinstellar provided comprehensive legal support to EIG throughout the transaction, including due diligence, negotiation of the Sale and Purchase Agreement (SPA) and Shareholders' Agreement (SHA), and closing of the transaction. The Kinstellar team was led by Jan Juroška (Managing Partner) and Matěj Večeřa (Senior Associate) and included Petr Bratský (Managing Associate), Jakub Šťastný and Lenka Petráková (both Senior Associates), and a team of Junior Associates: Lucie Kunclová

Insights January 2025

ESG legal update: Central & Eastern Europe and Central Asia regions

The past year has seen a flurry of regulatory developments related to Environmental, Social and Governance (ESG), particularly in the alignment of climate, environmental and reporting rules across the Central and Eastern Europe and Central Asia regions. Although the deadline for transposition of the Corporate Sustainability Reporting Directive (EU) 2022/2464 (CSRD) passed in July 2024, not all EU member states have managed to fully implement the directive. The European Commission has initiated infringement proceedings against 17 member states, including the Czech Republic and Romania, and it remains to be seen whether it will take further steps in the infringement procedure. Attention is turning to the Corporate

Insights January 2025

Ransomware attack on Slovakia’s Real Estate Register causes nationwide outage of all services and databases containing information on immovable property rights

On 5 January 2025, the Real Estate Register in the Slovak Republic (the "Register") was subject to a ransomware cyberattack. The Register is the sole register containing information on ownership, third-party rights (easements, pledges, etc.) and other material information on immovable properties in Slovakia. As a result of the cyberattack, all the Register's services are unavailable, and all Real Estate Register Offices are closed until further notice. In practice, the following services, among others, are unavailable: it is not possible to obtain title deeds, either in electronic or in hard-copy form; and all ongoing proceedings concerning immovable properties (sale, pledge, etc.)

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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*2024 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 Central and Eastern Europe (CEE), Southeast Europe (SEE) and Central Asia.

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Newsfeed

🎉 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

📢 🇨🇿 #Kinstellar has successfully advised Genesis Growth Equity Fund I on the #acquisition of a majority stake in LLP Group, a prominent business #software consultancy specialising in financial and enterprise asset management solutions. 👉 The deal marks a strategic #investment aimed at accelerating LLP Group’s growth and expanding its offerings globally. 💼 The advisory team was led by Kinstellar’s experts, supported by Brouxel & Rabia, with Grant Thornton offering financial and tax advisory services. 🌟 Our team was led by Michal Kníž (Managing Associate) and Jan Juroska (Partner) and included Petr Bratský (Managing Associate), Anna Marciano (IP Specialist), Zuzana Konečná and Paul Válka (Junior Associates). 🔗 https://lnkd.in/dj2e5Dst #donedeals #KinstellarUpdates #ExceptionalTogether #MergersAndAcquisitions #PrivateEquity

🤲🇧🇬 Our Sofia team has again turned special attention to the welfare and education of underprivileged children, supporting two dedicated institutions during the holiday season: 🧡 Donation to the ''Arts and Crafts Boarding School for Socially Disadvantaged Children Dimitar Ekimov'', which will help funding the construction of a new floor, providing accommodation for up to 25 more children from the poorest layer of society. The school is with no analogue in Europe and focuses entirely on bright and gifted children who have been deprived of the right to an equal start and the chance to develop their talents. 🧡 Bringing Christmas gifts and essential supplies to 12 children from the Family-Type Accommodation Centre for Children with Disabilities Karlovo, Bulgaria. This initiative was generously funded by our Sofia team members and further supported through our Community Investment Matched Funding Program. We strive to carry this spirit of generosity into the year ahead and use it as a reminder to ourselves that good deeds are always in season.  #ExceptionalTogether #CorporateResponsibility #GivingBack #CommunityInvestment #ExceptionalTogether #KinstellarUpdates

🌱 🗺️ The past year has seen a flurry of regulatory developments related to #ESG, particularly in the alignment of climate, environmental and reporting rules across the Central and Eastern Europe and Central Asia regions. 🔎 While we keep an eye on what 2025 will bring for ESG, the impact of EU’s regulatory streamlining plans, and global anti-ESG sentiment, the ESG team of Kinstellar delves into the developments in #Bulgaria, #Croatia, the #Czech Republic, #Hungary, #Kazakhstan, #Romania, #Serbia, #Slovakia, #Turkey, #Ukraine, and #Uzbekistan in 2024 to provide an overview of how each country is approaching some ESG topics. 💡 Our overview covers information on national decarbonisation plans, rules for environmental protection, emissions trading, developments on hydrogen and nuclear energy, and some specific ESG and green finance aspects.  Read the full update below. 👇 🔗 https://lnkd.in/dF7S833e #InTheKnow #Sustainability #ClimateAction #GreenEconomy

📢 🇸🇰 On 5 January 2025, the Real Estate Register in the Slovak Republic was subject to a ransomware cyberattack. The Register is the sole register containing information on ownership, third-party rights and other material information on immovable properties in Slovakia. As a result of the cyberattack, all the Register’s services are unavailable, and all Real Estate Register Offices are closed until further notice. Dáša Labašová (Managing Associate and Head of local RE) and Martin Dančo (Junior Associate) have put together an overview of the current status and the impact on and potential consequences for property owners. 🔗 https://lnkd.in/dUTRHGAa

📢 🇷🇴 #Kinstellar, together with Sullivan & Worcester, advised the European Bank for Reconstruction and Development (EBRD) and Banca Transilvania on a €20 million supply chain financing programme for Profi Rom Food SRL, Romania’s leading #retail chain. 🌟 A first in Romania: This marks the EBRD’s first supply chain finance initiative in the country, doubling Profi’s supply chain capacity and supporting local SMEs with affordable working capital solutions. 🏪 Profi, operating 1,750 stores across Romania, will use the financing to enhance its supply chain and foster economic growth, aligning with the EBRD’s Country Strategy for Romania. 💼 Our team was led by Magda Raducanu (Special Counsel and Head of Banking & Finance in Romania, Co-head of the Banking & Finance Regional Practice) with support from Razvan Constantinescu (Managing Associate), Alexandra Sofineti and Ioana Moldoveanu (Associates). 💬 Magdalena Răducanu: “We are proud to have supported this innovative programme, which highlights the power of strategic partnerships in strengthening local supply chains and empowering SMEs. Congratulations to all involved!” 🔗 https://lnkd.in/dSKHATuw #donedeals #Kinstellar #SupplyChainFinance #BankingAndFinance #LegalExperts #Romania

🌟 Changes to legislation 2025 – online conference 🌟 🔗 Join us on January 15, 2025, for an insightful journey into the #legislative updates in the Czech republic shaping the year ahead. 🚀 Our online conference, hosted by our Prague office, is tailored for senior management, key partners, and regional organizations. Together, we'll delve into the latest laws, regulations, and directives that will redefine how businesses operate. 💡 Highlights of the Program: 📌 Digital future: AI, cybersecurity, and data trends 📌 Sustainable business: ESG and green financing 📌 Employment law: New obligations and opportunities 📌 Industry-specific changes: Media, construction, energy, and more … 🎙 Our experts will break down the key changes and their practical implications, empowering you to navigate 2025 with confidence.  👉🏻 If you're interested to attend, please contact Luděk Wojnar at . #exceptionaltogether #intheknow #leadinglawyers

📢 🇨🇿 Kinstellar has successfully advised European Imaging Group Limited (EIG), a portfolio company of the Aurelius Group, on the acquisition of MEGAPIXEL s.r.o., a leader in the Czech market for photographic equipment and related services. 💡 Kinstellar provided comprehensive legal support to EIG throughout the transaction, including due diligence, negotiation of the Sale and Purchase Agreement (SPA) and Shareholders' Agreement (SHA) and closing of the transaction. The Kinstellar team was led by Jan Juroska (Managing Partner) and Matěj Večeřa (Senior Associate) and included Petr Bratský (Managing Associate), Jakub Šťastný and Lenka Petráková (both Senior Associates),and a team of Junior Associates: Lucie Kunclová, Anna Marciano, Simona Semanová, Paul Válka, Antonín Seidel, and Dominik Ševců. #donedeals #exceptionaltogether #leadinglawyers

📢 🇺🇦 We are pleased to share that #Kinstellar continues partnering with the International Employment Lawyer (#IEL) as the exclusive #IELMonitor contributor for #Ukraine in 2025! IEL Monitor is a fully searchable resource that covers incoming and recently enacted #employment and #labour #legislation, offering valuable insights to legal professionals and beyond. 🔗 Access the guide here: https://lnkd.in/dceGE49v 📩 Reach out to Maksym Tesliar, Head of our Employment and Labour Law team in Ukraine for direct consultations. #intheknow #LegalInsights #EmploymentLawUkraine #KinstellarUpdates #exceptionaltogether #leadinglawyers #employmentlaw #labourlaw #laborlaw