Kinstellar launches Vienna office
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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 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.)

Deals January 2025

Kinstellar advises EBRD on supply chain financing for Profi

Kinstellar is pleased to announce that, together with Sullivan & Worcester, we have advised the European Bank for Reconstruction and Development (EBRD), partnering with Banca Transilvania on implementing a supply chain financing programme for Profi Rom Food, one of Romania's leading retail chains. This transaction marks the EBRD's first supply chain finance initiative in Romania aimed at strengthening a domestic value chain. The EBRD will assume up to EUR 10 million in local currency risk, effectively doubling Profi's supply chain finance programme to EUR 20 million through a shared-risk model. Profi, which operates 1,750 stores across Romania under three brands—Super (mid-sized to large stores), Go

Insights January 2025

Important fiscal changes in Romania starting January 2025

On 30 December 2024, the Romanian government adopted Emergency Ordinance no. 156/2024 ("the GEO") regulating a series of important fiscal changes that entered into force starting January 2025, as summarised below. 1. Increase of dividend tax from 8% to 10% for all taxpayers obtaining income from dividends, i.e., companies, individuals, and non-residents. The increased tax applies to dividends distributed starting with 1 January 2025. 2. Elimination of tax incentives, i.e., exemption from income tax, reduced pension insurance contribution, for salary income lower than RON 10,000 earned by individuals carrying out activity in IT, construction, agricultural and the food industry. For these sectors, regular (full)

News January 2025

Kinstellar launches Vienna office

Kinstellar is delighted to announce the launch of its office in Vienna. This is a significant milestone in strengthening our presence across Central and Eastern Europe (CEE), Southeast Europe (SEE). The Vienna office is a greenfield development, spearheaded by Horst Ebhardt, a renowned Corporate M&A lawyer and one of the most respected names in the CEE market. Horst brings 25 years of experience in private practice, specialising in complex cross-border M&A, privatisations, and restructuring transactions across Austria and the CEE/SEE region. He provides strategic advice to companies across various sectors, with a strong focus on financial institutions, life sciences, and private equity. Over the past 12 years

Insights December 2024

Practical Note for Investors: Insights into Kazakhstan’s Banking Sector in 2025

In 2024, Kazakhstan's financial regulator and the president of Kazakhstan emphasised repeatedly the necessity of updating the nation's banking laws to align with global economic trends. This has been particularly relevant to the development of fintech ecosystems—a focus area for our firm over the past few years. In light of these discussions, we have prepared this note to provide a practical overview of the key proposed changes expected in 2025 and their implications for potential investors in the banking sector. We will continue monitoring these developments closely throughout the year to keep you informed. Key proposed changes and opportunities Introduction of two types of banking licenses

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)

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.

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Newsfeed

🌱 🗺️ 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

At Kinstellar Prague, we proudly support three incredible organizations: DEJME DĚTEM ŠANCI, Pink Bubble Foundation, and Klub svobodných matek. It was a truly heartwarming moment to hear the stories of resilience and hope from these organizations. Through our #CommunityInvestment program, our colleagues played a vital role in nominating and selecting projects that truly make a difference.

Kinstellar Prague proudly supports three incredible organizations

🇷🇴 🔎 Key fiscal changes in #Romania starting January 2025 👇 Exciting yet critical updates are coming to Romania's fiscal landscape in 2025, bringing both challenges and opportunities for businesses and investors. In our latest article, Carmen Mazilu (Tax Advisor, Senior Associate) and Theodor Artenie (Tax Advisor, Counsel) provide insights into these major developments, including: 🔑 Dividend tax increase: From 8% to 10% for all taxpayers. 🏗️ Removal of tax incentives: For IT, construction, agriculture, and food sectors. 📉 Micro-enterprise tax threshold reduction: New limits and rules apply. 🏢 Reintroduction of construction tax: A 1% tax on qualifying constructions. 💼 Additional updates: Non-taxable salary income and adjusted minimum wages for key sectors. Read the full article to understand how these updates may impact you and your business. 🚀 👉 https://lnkd.in/dHJzsxvS #intheknow #Romania #Taxation #FiscalUpdates #Business #InvestmentOpportunities #Finance #IT

🇦🇹 📍 We are excited to announce the launch of our office in #Vienna! 🎉 🗺️ This step marks a significant milestone in our journey to strengthen our presence across Central and Eastern Europe (#CEE) and Southeast Europe (#SEE). 🌟 Our Vienna office is a greenfield development, led by Horst Ebhardt, a highly regarded Corporate M&A partner and one of the most respected names in the CEE market. Horst brings over 25 years of experience in private practice, specializing in complex cross-border M&A, privatisations, and restructuring transactions across Austria and the CEE/SEE region. 🔑 Why #Vienna? As a central hub for the CEE/SEE markets, Vienna is a strategic location for our clients and partners. With Horst’s expertise, strong reputation, and the talented team we are building (to be announced soon!), we are confident in establishing a top-tier practice in Vienna. This expansion underscores our commitment to serving clients in the region, including from the DACH region. 🙌 We are actively recruiting additional team members to grow our Vienna office, with several exciting announcements expected soon. 🔎 Our initial focus will be on #Corporate, M&A, #PrivateEquity, #Competition/#Antitrust, #Employment and #RealEstate, with plans to expand into other core practice areas that are critical to our clients, including #Banking and #Finance, as well as #Dispute Resolution / #Arbitration. 📢 🗨️ "This is a remarkable development for Kinstellar. With Horst’s leadership, we are confident in establishing a top-tier practice in Vienna." – Jason Mogg, Senior Partner. 🗨️  "Our Vienna office reinforces our position as a leading international law firm in the region." – Ferenczi Kristóf, Firm Managing Partner. 🗨️  "I am excited to join Kinstellar and work with its outstanding team to build a first-class practice in Vienna." – Horst Ebhardt, Partner. 💡 Stay tuned for more updates and announcements as we continue to grow our Vienna team. 🔗 https://lnkd.in/djV-c3mj #exceptionaltogether #KinstellarVienna #CEE #SEE #CorporateLaw #MergersAndAcquisitions #InternationalLawFirm #NewBeginnings