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Coffee industry leaders face EUR 2 million fine and secure a conditional merger before Serbian Competition Authority
On 29 February 2024, the Serbian Competition Authority (the “SCA”) published two detailed decisions involving two largest undertakings on the Serbian coffee market. The first one relates to concerted practices that resulted in a joint fine of approximately EUR 2 million, while the other one relates to the conditional approval of the acquisition of Strauss Adriatic by Atlantic Group. As per data released by the SCA, these two enterprises collectively h approximately 70% to 80% of the coffee market in Serbia, boasting a portfolio that includes the most significant coffee brands in the region. In 2021, the SCA conducted a sectorial analysis encompassing various food markets, including a specific focus on the ground coffee
Provisional agreement reached on the Ecodesign Regulation and its impact on the fashion sector
As of 5 December 2023, the Council and European Parliament reached a provisional political agreement regarding a „Regulation establishing a Framework for setting ecodesign requirements for sustainable products“. The upcoming EU sustainability legislation is crucial as it affects a substantial part of the Consumer & Retail sector. It is of particular importance in the field of fashion and luxury industry as the points which the provisional agreement addresses have been among the hot topics of recent years in this sector. As we are closely monitoring the legislation process, click here or on the image below to explore the overview of key points of the adopted provisional agreement.
Kinstellar advises on the CZK 530 million sale of Hair Servis
Kinstellar’s Prague office has successfully advised the owners of Hair Servis, a major distributor of hairdressing brands to the Czech market, on its sale to Bezvavlasy, the second-largest seller of hair cosmetics in the Czech Republic. The value of the transaction is CZK 530 million, with part of the purchase price to be paid by the sellers receiving newly issued shares in Bezvavlasy, traded on the Prague START market. Kinstellar advised the sellers throughout the transaction, including advising on post-closing shareholder relations and deal structuring. The Kinstellar team was led by Kamil Blažek (Partner) and Matěj Večeřa (Senior Associate), assisted by Paul Válka (Junior Associate) on corporate matters
Update on the Advertising Regulatory Landscape in Ukraine
Amendments to Law of Ukraine on Advertising No. 270/96-ВР of 3 July 1996 have recently come into force. The amendments update obsolete regulations on advertising in Ukraine, thus ensuring advertising standards correspond to current technological developments. 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:
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).
Class actions to protect collective interests of consumers in Slovakia
The new Act on Actions for the Protection of the Collective Interests of Consumers and on Amendments and Additions to Certain Acts (the "Act") was adopted by the Slovak Parliament on 21 June 2023 and will enter into force on 25 July 2023, with the exception of some special and temporary provisions, which enter into force on the date of the Act’s publication in the Collection of Legislative Acts. The Act, which transposes the Representative Actions Directive (EU) 2020/1828, introduces a new legal proceeding—class actions—into Slovak legislation. The most significant elements of the new Act include: The introduction of two types of actions / proceedings available under the Act: a proceeding
Slovakia preparing new Consumer Protection Act: Here's what you should know
Companies operating in Slovakia are facing new compliance obligations, as the government has recently proposed a comprehensive consumer protection act (“New Law”) for parliamentary debate. One of the main reasons for introducing the New Law is to transpose the so-called New Deal for Consumers introduced by the European Commission, consisting of three directives—the Omnibus Directive[1], the Sale of Goods Directive[2] and the Digital Content Directive[3]. The New Law is expected to replace existing consumer protection legislation in Slovakia. It aims to strengthen the rights of consumers, providing them with greater protection against unfair business practices, such as deceptive advertising and hidden costs. As a result
Kinstellar successfully advises on exit from Arkady Pankrac joint venture
Kinstellar is pleased to announce the successful completion of its advisory role in facilitating the exit of KG CURA Vermögensverwaltung G.m.b.H. & Co. from a joint venture with G City Europe (formerly Atrium European Real Estate). The joint venture pertained to the ownership of Arkady Pankrac, a premium shopping centre with a focus on fashion, located in one of Prague's most prominent business and residential districts.The core team consisted of Partner Karla Rundtová and Managing Associate Adam Němec, with an essential support from Junior Associate Paul Válka.
Kinstellar advises on the sale of Unuodesign
Kinstellar has successfully advised the owner of Unuodesign, a Czech manufacturer and seller of children's clothing and fabrics, on the sale of a majority stake in the company to Hartenberg Holding, an investment fund focused on the Central European region. Kinstellar advised the seller throughout the entire transaction, including advice on shareholder relationship arrangements and deal structuring. The deal's value was not disclosed. The Kinstellar team was led by Jan Juroška (Partner) and was supported by Matěj Večeřa (Senior Associate). For more information please contact Jan Juroška, Partner, at .
Žurić i Partneri (ŽiP) Kinstellar advises on the acquisition of Insite by Halcom
Our team in Croatia has advised former shareholders of Insite on the sale of shares to Halcom, a leading provider of innovative solutions for payment systems. Insite is an experienced and innovative supplier of CRM systems to the banking, insurance, and retail sectors. Their CRM solution has been successfully recognised for ten years by some of the largest European banks and retailers. Halcom, as a division of Juniper Group, is part of the multinational group Constellation Software Inc. Halcom plays a leading role in developing payment systems in Central and South-Eastern Europe and ranks among the top providers of innovative and secure payment and financial services. The Kinstellar team in Zagreb
Amendment to Significant Market Power Act to significantly broaden law’s scope
An amendment to the Significant Market Power Act (the “Amendment”) has been passed by the Czech parliament. The Amendment, which transposes EU Directive No. 2019/633 on unfair trading practices in business-to-business relationships in the agricultural and food products supply chain, will introduce key changes to the concepts of significant market power in the Czech Republic. Specifically, the Amendment provides a new definition of significant market power by reducing the turnover threshold for the application of a statutory assumption of significant market power to EUR 2 million. In line with the related EU Directive, the amendment is designed to provide better protections for smaller businesses against unfair trading
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.