April 2024 – Kinstellar has successfully advised the Hungarian Power Exchange (HUPX), together with the Hungarian Transmission System Operator, MAVIR, on the landmark Project Bluesky transaction: the Hungarian Power Exchange, HUPX’s joining Adex, a leading regional power exchange serving Central and South-Eastern Europe (CSEE). This transaction marks a significant milestone in strengthening and expanding the reach of the regional power exchange group within the region.
Adex Group Ltd., which includes operators of power exchanges in Slovenia and Serbia, is recognized as the first regional energy exchange. With this transaction, HUPX becomes the third fully-owned subsidiary of Adex Group Ltd.
Subject to regulatory approvals from relevant authorities, the launch of the expanded group is anticipated in the second half of 2024.
Kinstellar provided MAVIR, HUPX's parent company, with comprehensive transactional advice, including negotiation and contract preparation, while also addressing competition and energy law aspects in this multifaceted cross-border transaction.
The Kinstellar team was led by Partner Gábor Gelencsér, with the support of Péter Vörös, Partner (competition law); Péter Gullai, Managing Associate (energy); Áron Barta, Senior Associate (M&A) and Orsolya Staniszewski, Associate (competition law).