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
Kinstellar has successfully advised TSH Investment, the joint venture between the real estate investment companies Trinity Capital and HUS Invest, on the acquisition of Park Center shopping mall, strategically located in the heart of Sofia. TSH Investment acquired Park Center from Revetas Capital Advisors, a European real estate investment advisor focused on distressed opportunities and value-add investments. The purchase is set to enhance the potential and attractiveness of the mall. Kinstellar advised on all aspects of the acquisition, including transaction structuring, debt restructuring elements, and real estate acquisition, by providing multidisciplinary support to the in-house team of TSH. The team was led
Kinstellar has advised UniCredit Bulbank as lead manager of the private placement of corporate bonds worth EUR 25 million by Minimart, a fast-growing chain of convenience stores in Bulgaria. The 250 bonds with a nominal value of EUR 100,000 each have a maturity of 5 years and an interest of 7.77%, paid twice a year. The bonds were subscribed by UniCredit Bulbank, Eurobank Bulgaria, Varengold Bank, and KBC Agro - Bulgaria. The private placement enables Minimart to further expand its retail network to 300 stores in 2025 and invest in its IT infrastructure. Kinstellar' s team was led by Svilen Issaev (Head of Banking, Finance and Capital Markets in Sofia) and included Senior Associates Nikolay Gergov and Denitsa
Effective 31 January 2025, Government Decree No. 7/2025 has revised the feed-in-tariff rates for renewable power plants that are part of the feed-in-tariff ("FiT") system in Hungary. The Decree took effect on the day it was announced, making it currently enforceable and applicable. The key amendments are outlined as follows: Starting in 2025, the annual indexation for FiT power generators will be discontinued until the state of danger declared in relation to the war in Ukraine concludes, but no later than 2029. The exception to the above rule is if the annual average inflation in Hungary exceeds 6%. FiT power generators will no longer be subject to the "Robin Hood" tax applied to
Kinstellar is pleased to announce that distinguished M&A lawyer Philipp Kapl has joined the Firm as a Partner, further enhancing Kinstellar's corporate and transactional capabilities in Vienna. Philipp brings over a decade of experience advising on high-profile M&A transactions, private equity, joint ventures, growth capital investments, divestitures, infrastructure investments and shareholder arrangements. Prior to joining Kinstellar, Philipp was with a leading Austrian law firm. His career includes a secondment with Cravath, Swaine & Moore in London and extensive experience at top-tier Austrian firms. Earlier in his career, he gained valuable insights into investment banking at Morgan Stanley and J.P. Morgan
Bulgaria aims to finalise the full implementation of its foreign direct investment ("FDI") screening regime in early 2025. On 29 January 2025, the Council of Ministers approved the Rules on the Organisation and Operation of the Interinstitutional Council for Foreign Direct Investment Screening ("Rules of Procedure") – one of the key legislative acts supporting the implementation of the Bulgarian FDI regime, which officially took effect in 2024 (see our publication here). There is currently a transitional period during which FDI notifications are not required, as the necessary implementing regulations have yet to be enacted. The adoption of the Rules of Procedure is one of the remaining steps in the process.
Are you a real estate developer in Romania? Do you have as your primary activity NACE Code (Cod CAEN) 4110 – "Development of building projects" (i.e. the newly NACE Code 6812 as per the recent NACE Rev. 3 classification)? If so, you should be aware that you are qualified as an "obligated entity" for purposes of Romanian anti-money laundering legislation compliance. And the National Office for Prevention and Control of Money Laundering (the "ONPCSB") is actively auditing real estate developers for compliance. Below are some of the key principles to keep in mind. Background The European Union passed Directive (UE) 2015/849 in 20 May 2015 (i.e., the 4th Anti-Money Laundering Directive).
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
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
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.
*2024 rankings in core practice areas in international legal directories (Chambers & Partners, Legal 500, IFLR1000)
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⚡ Key Changes to Hungary’s Feed-in-Tariff System The newly issued Government Decree No. 7/2025 brings major changes to the FiT system for renewable power plants, effective 31 January 2025: - The annual indexation for FiT power generators will be discontinued until the state of danger concludes, but no later than 2029. - The exception to the above rule is if the annual average inflation in Hungary exceeds 6%. - FiT power generators will no longer be subject to the “Robin Hood” tax. 📌 Read the full article and contact our Managing Associate, Gullai Péter for tailored legal advice. 🔗 https://lnkd.in/dhaDjgJP #ExceptionalTogether #Hungary #LawUpdate #Tariff
RO 🚨 Are you a real estate developer in Romania? Is your primary activity NACE Code (Cod CAEN) 4110 – “Development of building projects”? If so, you should be aware that you are qualified as an “obligated entity” for purposes of Romanian anti-money laundering (AML) legislation compliance. And the National Office for Prevention and Control of Money Laundering (ONPCSB) is actively auditing real estate developers for compliance. 📌 Here's what you need to know about the key #AML Compliance Obligations for Romanian Real Estate Developers in 2025: 🔶 A formal notification is required when starting activities; 🔶 Non-compliance can result in fines, potentially up to 10% of total income; 🔶 A comprehensive AML program must be in place; 🔶 Employee training and the appointment of an AML Compliance Officer are essential. 📖 Read the full article, written by Victor Constantinescu (Managing Partner), Andrei Băluş (Senior Associate) and Raluca Botea (Counsel), for a deep dive into the topic 👉 https://lnkd.in/g_f9BC5v 🔍 In case you need more guidance, feel free to reach out to us. #ExceptionalTogether #InTheKnow #Romania #AML #RealEstate #Compliance #Regulations #BusinessLaw #KYC
📢 MEET US in Paris at the International Bar Association European Corporate and Private M&A Conference 📅 on 6 & 7 February! 🌟 The Kinstellar delegation would be delighted to meet you in person 👇🏻: 📌Jason Mogg, Senior Partner 📌Vincent Morand, Head of French Desk 📌Philipp Kapl, Partner, Vienna 📌Karla Rundtova, Partner, Prague 📌Emre Edmund Ozer, Partner, Istanbul 💼 Kinstellar is delighted to be the #headline sponsor of this outstanding event. The sold-out yearly conference brings together private equity and M&A professionals worldwide. It's a hub for networking, sharing insights on European private M&A, and building valuable business relationships. Look forward to meeting you in Paris! 🤝🏻 #ExceptionalTogether #IBAMA25 #InTheKnow #Conference #Paris #MergersAndAcquisitions #European #Corporate
💡 Bulgaria is set to complete the implementation of its foreign direct investment (FDI) screening regime in early 2025. 🗓 31 January marks a significant milestone in this process: the Rules on the Organisation and Operation of the Interinstitutional Council for Foreign Direct Investment Screening came into force. This development builds on existing legislation and will be further reinforced by two additional steps: ➡️ the appointment of members to the Foreign Direct Investment Screening Council—the body responsible for overseeing FDI screening in Bulgaria; and ➡️ the anticipated amendments to the Rules for the Implementation of the Investment Promotion Act— clarifying the procedure for the submission and processing of screening applications. Once these final two measures are in place (anticipated in early 2025), Bulgaria’s FDI screening framework will be fully operational, ensuring a structured investment review process. 📑 Learn everything there is to know about this recent development in our publication here: https://lnkd.in/dZsdDJ7T Missed our first update on FDI? Read the article on the previous legislation, establishing the framework for this change here: https://lnkd.in/d7_C7fY3 #ExceptionalTogether #InTheKnow #Bulgaria #FDI #ForeignDirectInvestment #LawUpdate #Bulgaria
🗺️ We kicked off 2025 with an exciting milestone: we launched our Vienna office! It’s time to reveal our second piece of news about our new office 👉 We are pleased to announce that distinguished M&A lawyer Philipp Kapl has joined the Firm as a Partner, further enhancing Kinstellar's corporate M&A and transactional capabilities in Vienna. 🎉 💼 Philipp brings over a decade of experience advising on high-profile M&A transactions, private equity, joint ventures, growth capital investments, divestitures, infrastructure investments and shareholder arrangements. Prior to joining Kinstellar, Philipp was with a leading Austrian law firm. 🌟 Recognised as a leading Corporate and M&A lawyer in Austria by major legal directories such as Chambers and Partners, JUVE Verlag für juristische Information GmbH, Legal 500 and IFLR1000 , Philipp has earned praise from clients for his strong experience, outstanding transactional skills and pragmatic approach. Ferenczi Kristóf, Firm Managing Partner comments 🗨️ “We are delighted to welcome Philipp to Kinstellar. His deep transactional expertise, strategic mindset, and strong market reputation make him a perfect addition as we continue to expand our presence in Vienna. Philipp’s arrival underscores our commitment to delivering top-tier corporate and M&A services in Austria and the wider CEE region. We are confident that his leadership will be valuable in further strengthening our offering.” Click here to read Philipp’s bio 🔗 https://lnkd.in/dFyhS4ti 🔔 Watch this space for more exciting news about the growth of our Vienna office. #ExceptionalTogether #Vienna #KinstellarUpdate #LawFirm #Expansion #NewOffice #NewBeginnings #Austria #CorporateLaw #DACH #MergersAndAcquisitions
⚖️👏 We’re proud to share our Prague litigation team’s court victories from the past month: one at the first-instance court, three at the appellate level, and a success before the Supreme Court. 🏛️ The latter ruling being the most noteworthy, as the team took on the case at the stage of an extraordinary appeal and successfully secured the annulment of the previous judgment on procedural grounds. Such outcomes at the Supreme Court level are rare, making this a remarkable achievement for our team and our client. 📡 Two of these rulings set important precedents, enabling our client from the #Telecommunication sector to expand their innovative and market-shaping business operations in the Czech Republic. 🙌 The litigation team was led by Radim Kotrba Lenka Petráková Petra Ledvinková #DisputeResolution #LitigationSuccess #ExceptionalTogether #CzechRepublic
📢 🇭🇺 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 Odvetniška družba Lukman, 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