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Insights January 2024

Hungarian Government's decree on reducing food inflation to enter into force

The Hungarian government's decree on measures to combat the so-called “shrinkflation” will enter into force on 1 February 2024. “Shrinkflation” refers to the hidden raising of prices by reducing the size of products. The measures apply to pre-packaged products that are sold by retailers in one or more sizes in a uniform appearance. The new measures primarily affect convenience store retailers with a net turnover of more than HUF 1 billion, but also expressly impose obligations on manufacturers. Moreover, the obligations of manufacturers forms the basis of compliance. The manufacturer (or the first distributor/wholesaler in Hungary) is obliged to inform both the retailer and the National Food Chain Safety

Insights December 2023

Romania transposes the ECN+ Directive, further strengthening the Competition Council’s investigative powers

Facing EU infringement concerns, Romania has finally adopted an ordinance amending the Competition Law no. 21/1996 (the “Competition Law”), aimed at fully transposing into local law EU Directive 1/2019 to empower the competition authorities of the Member States to be more effective enforcers and to ensure the proper functioning of the internal market (the “ECN+ Directive”). This was carried out through Government Emergency Ordinance no. 108/2023 (“GEO 108/2023”), published in the Official Gazette on 6 December 2023. GEO 108/2023 goes further than merely transposing the provisions of the ECN+ Directive (as some of the principles in the directive had already been reflected under national law previously)

Deals December 2023

Kinstellar advises AIK Banka on the acquisition of Eurobank Direktna in Serbia

Kinstellar has successfully advised AIK Banka on the competition law aspects of the EUR 280 million acquisition of 100% of Eurobank Direktna Beograd. The transaction closed in November upon receiving the necessary regulatory approvals, including competition clearances. AIK Banka is a prominent financial institution with a strong presence in the banking sector. Committed to excellence and strategic growth, AIK Banka's recent acquisition strengthens its position as a key player on the Serbian market.The acquisition of Eurobank Direktna represents a significant milestone, underscoring the consolidation trend within Serbia's banking sector and is one of the largest transactions of this kind in the sector. Kinstellar's

Insights November 2023

Slovakia: Subsidies for the construction of Renewable Energy Sources

Are you considering building your own Renewable Energy Source ("RES") in order to reduce your electricity costs, comply with internal ESG policies, or for any other reason? If so, you may find this overview of currently available subsidies to entrepreneurs in Slovakia for the construction of RES helpful. Currently, there are two opened calls for the submission of applications for state aid in the total amount of EUR 94,554,298. We provide an overview of key information on such aid below. Overview Call   Call for the submission of applications for funds from the Recovery and Resilience Facility to support the construction of new facilities for the production

Deals November 2023

Kinstellar, Gen & Temizer | Özer advise Property Finder and Zingat on the sale of 100% of Zingat to hepsiemlak, and on Property Finder’s subsequent share subscription into hepsiemlak

Kinstellar Gen & Temizer | Özer have successfully advised Property Finder and Zingat on the sale of 100% of Zingat to hepsiemlak, and Property Finder’s subsequent share subscription into hepsiemlak. The transaction is expected to close after the approval of the Turkish Competition Authority. Property Finder is the Middle East's largest property portal and was the 100% shareholder of Zingat. Established in 2015, Zingat is one of the largest property portals in Turkey with a wide range of residential and commercial properties listed for rent and sale. Hepsiemlak is one of Turkey's major real estate buying, selling, renting and advertising platforms, under the umbrella of Doğan Holding. The team was

Insights October 2023

New Competition Regulations in Kosovo

Kosovo has over at the end of summer 2023 adopted a set of new regulations on competition law matters to underpin the Competition Act adopted in June 2022. Following up on our previous announcements regarding changes to competition rules in Kosovo, we provide below an overview of the latest changes. New merger control regulation The new Merger Control Regulation in Kosovo — Administrative Instruction on the Procedure for Submitting a Request to Clear a Review of a Concentration No. 02/2023 — sets out the procedure for submitting a notification of a concentration and defines the required content and document format, as well as the data that must be provided with the form.  An important change brought by

Insights October 2023

Ukrainian competition law reform to kick of in 2024

On 1 January 2024, Law of Ukraine No. 3295-IX (Law), aimed at strengthening the powers of the Antimonopoly Committee of Ukraine (AMC) and overhauling Ukrainian competition laws by aligning them more closely with European Union standards, will come into force. The most notable changes include an improved leniency policy, the introduction of a settlement procedure for cartels and abuse of dominance cases, clear deadlines for AMC investigations, and enhanced controls over concentrations, including updated filing thresholds. Click on one of the images below or click on the following links to read the overview in English or in Ukrainian. Download in English: Download in Ukrainian:

Insights October 2023

Joint study of the Romanian Competition Council and Romanian Energy Regulatory Authority identifies grid connection barriers and issues recommendations

The Romanian Competition Council (RCC) continues to focus on the energy markets, not only through investigations and merger control analysis, but also by carefully reviewing the markets through sector inquiries and studies. Given Romania’s declared interest in considerably bolstering its renewable energy capacities in the short term—which is also supported by EU funds and the Contracts for Difference (CfD) support scheme in the pipeline, renewables have recently been high on the RCC’s agenda. Roughly two months after publishing its preliminary conclusions following its study on permitting bottlenecks in the renewables sector (see our previous article here), the RCC has now teamed up with the Romanian Energy Regulatory

Insights October 2023

Uzbekistan introduces a new legal framework to govern competition within commodity and financial markets

On 3 July 2023, the President of Uzbekistan signed the Law No. ЗРУ- 850 “[o]n competition” (the “New Law”), which comes into force on 4 October 2023, replacing the law on competition No. ЗРУ-319 dated 6 January 2012 (the “Old Law”). The New Law (i) defines new criteria for identifying a dominant market position, (ii) introduces the concept of superior bargaining power, (iii) sets out antimonopoly compliance requirements for certain business entities, (iv) clarifies the requirements for obtaining preliminary consent for certain transactions, and (v) imposes financial sanctions for violations of the New Law. Antimonopoly Compliance The New Law introduces the concept of antimonopoly compliance

Deals September 2023

Kinstellar advises Electrolux Group on the successful divestment of its Nyíregyháza factory in Hungary to Qvantum

Kinstellar is proud to announce that it has advised the Swedish appliances manufacturer Electrolux Group on the successful sale of its manufacturing facility in Nyíregyháza, Hungary, to the Swedish high-quality electric heat pumps manufacturer Qvantum for a cash consideration of EUR 38 million. The Kinstellar team was led by Barnabás Sági, Co-Head of the Budapest Real Estate service line, supported by Bertalan Ványa, Associate. The team also included Annamária Csenterics (Partner), Anna Szilágyi (Junior Associate), Judit Sós (Associate), Péter Vörös (Partner), Péter Gullai (Managing Associate), Dániel Péter (Managing Associate), and Szabolcs Szilágyi (Junior Associate).

Insights September 2023

Turkey’s Competition Board sets the rules for online sales restrictions

Turkey’s Competition Board (the "Board") rendered two significant decisions last year concerning online sales restrictions that provide a view forward for many undertakings. In its decisions, the Board scrutinised the commitment packages offered by BSH and Arçelik, two of the major small and large household appliances manufacturers in Turkey. The investigations against the companies (the “Investigations”) concerned whether Arçelik and/or BSH violated Article 4 of Law No. 4054 on the Protection of Competition (“Law No. 4054”) by preventing their authorised resellers from selling online and/or interfering with resellers’ resale prices. The Board accepted the commitment packages, which Arçelik and BSH revised

Insights August 2023

Long-awaited changes to the competition law in Ukraine

Yesterday, 9 August 2023, the Ukrainian parliament adopted long-awaited amendments to the country’s competition law (the "Amendments"), which is the first step towards an extensive overhaul of Ukraine’s antitrust and merger control rules. The Amendments are pending the signature of the president and are expected to come into force on 1 January 2024 (except for certain provisions, which will take effect after the cancellation of martial law). Although the final text of the Amendments is not yet available, it has been reported that the key changes are aimed at: i) the implementation of additional antitrust rules to boost the leniency program in Ukraine, ii) the introduction of the concept of the infringer’s joint and