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Kinstellar advises Accolade on one of the largest Czech industrial real estate acquisitions of 2025
Kinstellar has successfully advised Accolade on its strategic entry into the South Bohemian region through the acquisition of the Garbe Park industrial site in Boršov nad Vltavou, near České Budějovice, from Garbe Industrial Real Estate. The transaction, valued at nearly CZK 2.5 billion, ranks as the second-largest industrial real estate deal in the Czech Republic in 2025 to date. The acquired assets include two completed buildings — both fully leased — as well as development land for future expansion, which will be carried out through a joint venture between Accolade and Garbe. The site, developed since 2023, offers a mix of logistics, manufacturing, office, and retail space, with a total lettable area expected
Kinstellar advises Altenova on legal aspects of the partnership between the Pyronova Group and Altebra Group across six jurisdictions
Kinstellar is pleased to announce that our team has assisted Altebra on its merger with Pyronova Group—forming a new European leader in active fire protection under the name “Altenova”. Pyronov a Group is an international fire protection company headquartered in Bratislava, Slovakia. The transaction involves Pyronova and its subsidiaries in the Czech Republic, Hungary, Romania, Serbia, Slovakia, Germany and Ukraine, marking a significant milestone in Altebra Group’s strategic expansion across Central and Eastern Europe. Pyronova is a well-established supplier of innovative fire safety solutions, with a strong regional presence. Altebra Group is a market leader in active fire protection with operations across
Kinstellar supports Ukraine in its reconstruction efforts and launches dedicated Ukraine reconstruction projects website
Kinstellar has launched a firmwide initiative to support Ukraine in its recovery and reconstruction efforts. Our Kyiv Office continues providing full commercial counsel and legal support in Ukraine to international and domestic clients, with particular emphasis on the Infrastructure & Construction, Defence, Energy & Projects, and Mining & Minerals sectors. The Ukrainian government has given top-priority to these areas, and our team closely monitors related opportunities for our clients. We also draw on the combined experience of our 300+ lawyers in 12 jurisdictions in Central and Eastern Europe (CEE), Southeast Europe (SEE), and Central Asia to assist clients in some of the most ambitious reconstruction
Kinstellar advises PPF Group on the sale of Home Credit Bank Kazakhstan operations
Kinstellar has advised PPF Group and its shareholders on an agreement with ForteBank for the sale of 100% of Home Credit Bank Kazakhstan and its associated businesses. The terms of the transaction remain undisclosed and the deal is subject to customary regulatory approvals in Kazakhstan. Home Credit has been active in Kazakhstan since 2005, marking the fourth market entered by PPF Group’s financial services subsidiary, following its establishment in the Czech Republic in 1997. Since its inception in Kazakhstan, Home Credit has operated as a fully licensed bank specialising in consumer finance and has been a long-standing leader in the point-of-sale (POS) loan segment. ForteBank is a leading player in Kazakhstan’s
Challenges and opportunities: rebuilding Ukraine’s post-war infrastructure
During the last three years as a result of Russia’s ongoing aggression, Ukraine’s infrastructure has sustained extensive damage, representing a profound challenge to the country’s long-term development. Delays in reconstruction risk having severe social and economic repercussions not only for Ukraine but for the broader region over the coming decades. Ukraine’s post-war recovery nonetheless represents a huge opportunity for private investors, bringing considerable stimulus and economic growth in its wake. Which leads to a number of questions: What are the principal legal and regulatory challenges currently confronting Ukraine in its recovery efforts? Moreover, what concrete measures has the government implemented
New Hungarian rules on waste management fines
On 23 June 2025 the Government Decree 156/2025. (VI. 23.) on the amount of waste management fines and on the detailed rules for the assessment, criteria for determining and imposing waste management fines and on the application of other sanctions ("Decree") was published. The Decree specifies the amounts of waste management fines and provides for additional sanctions for specific infringements. The basic amount of the waste management fine to be imposed for each infringement and the method of calculating the fine are set out in the annexes of the Decree. The amount of the waste management fine may be increased in the case of certain aggravating factors, but the total amount may not exceed HUF 50 million for natural
Kinstellar strengthens Tashkent office with the appointment of Dilshad Khabibullaev, as Partner
Kinstellar is delighted to announce that Dilshad Khabibullaev has joined our Tashkent office as a Partner. With over two decades of experience in infrastructure, investment, and public-private partnership (PPP) projects—particularly in the transportation sector—Dilshad brings a wealth of knowledge and leadership to our team in Uzbekistan and the broader Central Asia region. Throughout his notable career, Dilshad has played a key role in pioneering transport infrastructure projects in Uzbekistan, including the country’s first airport PPP, first toll road PPP, and first traffic video surveillance investment project. His expertise spans both the automotive and aviation industries, where he has consistently delivered
Kinstellar supports Banca Intesa in its mini-bonds transaction with Diopta
Kinstellar is pleased to have supported Banca Intesa with the first issuance of collateral-free mini bonds in Serbia - a significant milestone in the development of the local capital market. This innovative transaction, worth RSD 470 million, was arranged for Diopta, a leading optical retailer in the Western Balkans. It marks a significant advancement in the expansion of financing opportunities for SMEs. Throughout this pioneering issuance, we advised Banca Intesa, ensuring a secure and efficient legal framework aligned with the highest market standards. The deal forms part of the Minibond initiative by the Intesa Sanpaolo Group, which aims to promote sustainable economic growth and develop capital markets across
The automotive industry is rapidly transforming through digital technologies
This shift introduces complex legal and compliance challenges under EU law, particularly around data collection, processing, and sharing. Key frameworks such as the GDPR and ePrivacy Directive govern issues like user consent, data transparency, access, and deletion. Manufacturers must embed privacy by design and strengthen cybersecurity. How does the GDPR impact data collection in infotainment systems? Infotainment, telematics, and autonomous features gather vast user data - raising critical questions of control, purpose, and protection. The Data Act grants users broader rights to access and share vehicle data, while public safety tools like eCall must still ensure compliance with data
Romania fine tunes procedure on treating allegedly privileged communication during dawn raids
The Romanian Parliament has amended Competition Law no. 21/1996 (the “Competition Law”) through Law No. 111/2025 approving Government Emergency Ordinance No. 99/2024, amending and supplementing certain legislative acts in the field of competition (“Law 111/2025”). Effective 26 June 2025, the Romanian Competition Council (the “RCC”) has received refined procedural guidance for handling communications claimed to be protected by legal professional privilege (“LPP”) during dawn raids. Law 111/2025 amends, among others, Art. 38 paras. (9) and (11) of the Competition Law, replacing the July 2024 version, itself introduced to fix a highly questionable earlier formulation which had controversially allowed RCC inspectors
Kinstellar strengthens Astana presence with advisory role on Kazakhstan’s sovereign Eurobonds
Kinstellar advised the Ministry of Finance of the Republic of Kazakhstan on the successful placement of USD 2.5 billion in sovereign U.S. dollar-denominated Eurobonds. The issuance consisted of two tranches: a 7-year USD 1.35 billion bond with a 5.0% coupon and a 12-year USD 1.15 billion bond with a 5.5% coupon. This transaction marked a significant achievement, with Kazakhstan securing one of the lowest yield levels among A/BBB-rated sovereigns this year. The strong investor demand reflects the country’s solid macroeconomic fundamentals, including stable economic growth, low government debt, and robust external reserves. The Eurobonds are listed on the London Stock Exchange, the Astana International Exchange, and
Kinstellar advises Norway’s leading defence supplier Kongsberg Defence & Aerospace on the launch of its presence in Ukraine
Kinstellar is honoured to have supported Kongsberg Defence & Aerospace (Kongsberg), Norway’s premier supplier of defence and aerospace-related systems, with opening a permanent office in Kyiv. Kongsberg is going to develop and deliver low-cost, high-volume air defence missiles and unmanned surface vessels in Ukraine. The Kinstellar team in Ukraine was led by Partners Anastasiya Bolkhovitinova, Head of the local Defence & Security sector, and Daniel Bilak. We advised on regulatory matters, cooperation with Ukrainian state authorities and local partners, and a wide variety of corporate and employment matters. The Norwegian law firm Advokatfirmaet Thommessen advised on Norwegian law and coordinated the international