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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
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)
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
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.
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
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.)
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
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
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
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)
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
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