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Kinstellar announces new promotions to Managing Associates and Senior Associates
Kinstellar is delighted to announce the promotion to Managing Associate of Martin Holub and Václav Kment, and the promotion to Senior Associate of Tereza Mašková, Matěj Večeřa and Jakub Šťastný in our Prague office. With these promotions the firm acknowledges their dedication, teamwork, consistent high level of client service, legal knowledge and transactional expertise. Martin Holub focuses on real estate, in particular real estate transactions and commercial lease agreements. Assisting clients in drafting, reviewing and negotiating of various agreements, such as share purchase, lease for office premises, development management, construction, and other real-estate related documents. Václav Kment
Kinstellar advises BRD-Groupe Société Générale on a EUR 24.3 million green financing in western Romania
Kinstellar is delighted to announce that it has successfully advised BRD-Groupe Société Générale SA on a EUR 24.3 million financing for the development of two green residential buildings by the Belgian property developer Speedwell in western Romania (Timișoara). The financing has been structured by BRD in accordance with the LMA Green Loans Principles and the provisions of the Substantial Contribution Criteria of the EU Taxonomy for mitigating climate-change risks applicable to this type of development. BRD is confident that these two “green” buildings located in a premium location in Timișoara will set new quality standards for addressing climate-change challenges, proving once again that the ESG standard
Kinstellar announces new promotions in Kazakhstan
Kinstellar is delighted to announce the promotion to Managing Associate of Yerlan Akhmetov (Banking & Finance, Corporate), Dina Berkalieva (Dispute Resolution) and Assel Mussina (Corporate, Real Estate) in our Almaty office. In addition, Anna Kornilova, a Senior Associate in the Almaty office, will become Head of Competition for Central Asia. These promotions are in recognition of their importance to our firm and its future and to their commitment to delivering exceptional value to our clients. Yerlan Akhmetov has over 15 years of experience in capital markets, banking and finance and M&A. He has taken the lead on numerous complicated financing transactions, and has been involved in high-profile M&A
Žurić i Partneri Kinstellar advises OTP banka d.d. on the financing for the acquisition of Fiziodent Polyclinic
Our team in Croatia has once again advised OTP banka d.d., this time on the financing for the acquisition of Fiziodent Polyclinic through the sale of a majority ownership stake to Adria Dental Group. Fiziodent operates two polyclinics in the Croatian capital, Zagreb, and employs a total of 40 employees. It was founded in 2003 and is the leading clinic in the field of transparent and mobile braces in the region. OTP banka d.d. continues to support the growth of Adria Dental Group. As the largest dental group in Croatia and the wider region, Adria Dental Group now has more than 450 employees and 180 dental specialists and includes seven clinics and five laboratories in the cities of Zagreb, Solin, Rijeka and Poreč.
Žurić i Partneri (ŽIP) Kinstellar advises OTP Banka d.d. on the financing for the acquisition of Dentum Dental Clinic
Our team in Croatia has advised OTP Banka d.d. on the financing for the acquisition of Dentum Dental Clinic via the sale of a majority ownership stake to Adria Dental Group. With this transaction, OTP Banka d.d. continues to support the expansion of Adria Dental Group, which has now positioned itself as the largest dental group in Croatia and the wider region. The group has more than 420 employees, more than 70 practices and over 160 dental specialists, with annual revenues above 30 million euros. The group includes five clinics and five laboratories (Zagreb, Solin, Rijeka and Poreč) with a plan to further expand to the domestic and regional markets. The Kinstellar team in Zagreb was led by Mihovil Granić (Partner)
Kinstellar appoints new Service and Sector Heads
Kinstellar supports professional growth by offering a broad range of career development opportunities for our team including Sector/Service line head or co-head roles. We provide growth opportunities to all of our talented lawyers with relevant experience and who have an outstanding track record. We believe in an inclusive recruitment process where we create an equitable application, interview and selection process. We are delighted to announce the appointments of the following sector and service line heads: Müfit Arapoğlu, a Partner in the Istanbul office, is the firm-wide Financial Institutions (non-transactional) Sector Co-Head and the firm-wide Head of Banking, Finance & Capital Markets (service line).
Kinstellar advises a syndicate of banks led by VÚB banka on a EUR 100 million loan for the development of Bory Mall in Bratislava
Kinstellar’s Bratislava office has recently advised a syndicate of banks led by Všeobecná úverová banka (VÚB Bank) and including Slovenská sporiteľňa, ČSOB and HYPO-BANK Burgenland, in relation to a EUR 100 million club loan facility for refinancing and further investment in Bory Mall—a shopping and entertainment centre in Bratislava developed by Penta Real Estate. Kinstellar’s team in Bratislava was managed by Counsel Tomáš Melišek and included Dominika Bajzáthová (Managing Associate), Dáša Labašová (Senior Associate) and Michaela Straková (Junior Associate). Partner Marián Šulík led the team of Škubla & Partneri, which acted as advisors to the borrower.
Kinstellar advises a syndicate of banks led by Komerční banka on the acquisition financing for FutureLife
Kinstellar has successfully advised a syndicate of major Czech banks led by Komerční banka on the acquisition financing for FutureLife, a European leader in reproductive medicine and women’s healthcare. Kinstellar provided complex advice to a banking syndicate (comprising Komerční banka, Česká spořitelna and ČSOB) that provided the financing for the acquisition of the Centre for Reproductive and Genetic Health, the largest reproductive clinic in the United Kingdom, and for future expansion by FutureLife Group. Our advice included the preparation and negotiation of the finance documents under Czech law, including a loan syndicate agreement and security package. The Kinstellar team was led by Martina Březinová
The problem with Dynamic Currency Conversion (DCC)
If a German tourist withdraws cash from an ATM in Prague, the ATM screen may display a choice whether the tourist’s euro account should be charged in the currency of their account (i.e., euro), or in the local currency – Czech koruna. If the tourist chooses the former, they opt for the so-called Dynamic Currency Conversion (DCC) service. DCC is a service enabling instant currency conversions for card-based transactions. DCC was introduced in 1996 to allow cardholders to pay in their home currency when making payments in foreign currencies. This can be either an ATM withdrawal or a card payment at a point-of-sale (POS) terminal in a foreign country. By using the DCC service, the amount of the transaction in the local
Kinstellar advises Helaba on a financing for the historic “NR7” building in central Prague
Kinstellar has successfully advised the German lender Helaba on the provision of a refurbishment and long-term financing to the Czech developer Crestyl for the revitalisation of the historic “NR7” building in Prague’s city centre. Kinstellar advised Helaba in relation to the renovation and long-term financing of the historic, mixed-use NR7 building, originally constructed in 1905. The landmark property, with a total area of approx. 5,600 sqm, is located at the heart of Prague’s historic city centre on Namesti Republiky (Republic Square) opposite the Palladium shopping centre and offers excellent visibility in an area characterised by good retail, office, hotel and downtown residential locations. NR7 benefits
“Buy Now, Pay Later” solutions on the rise – regulatory aspects in Bulgaria
The rapid growth of online shopping as a result of the COVID-19 pandemic has led to an increased demand for different payment options for consumers at the checkout. One such option that is increasingly popular with consumers is the “buy now, pay later” (“BNPL”) solution. The hot trend in consumer credit BNPL allows consumers to defer the payment of the product and repay the purchase price in several instalments over a certain period of time, usually at no interest. BNPL is also a palatable option for merchants, as it gives them another avenue to generate sales by providing consumers an accessible opportunity to acquire products on credit. Such manageable payment options are also likely to strengthen consumer
Kinstellar promotes Mert Elçin to Counsel in Istanbul
Kinstellar is delighted to announce the promotion of Mert Elçin to Counsel in our Istanbul office. Mert has more than 10 years of experience in corporate, M&A and banking and finance transactions as well as regulatory matters and has represented clients from a wide range of sectors, in particular banks, brokers, insurers, asset managers, investment funds and other market participants from the financial services industry, venture capital firms, founders, angel and private equity investors, and companies focusing on life sciences and healthcare, technology, media and telecommunications, retail and manufacturing. He is also experienced handling international arbitration. Mert joined Kinstellar in 2019 as