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Kinstellar advises MAVIR and HUPX on joining Central and Southeast Europe’s largest electricity trading hub
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
Kinstellar advises UEG on the acquisition of a solar project in Bulgaria with a forecasted capacity of 250 MW
April 2023 – Kinstellar has supported United Energy Group (UEG)’s internal legal team, Leslie Zhang, Yu Zheng, Yao Liu and other UEG in-house counsels, on the acquisition of Green Profit EOOD, a developer of a photovoltaic (PV) project under construction. The Simeonovgrad-Polyanovo PV project, located in southern Bulgaria, has a forecasted capacity of 250 MW. Kinstellar led and negotiated the entire transaction, including the share purchase agreement and other transaction documents. UEG is a Hong Kong-based producer of traditional and renewable energy that has recently expanded its presence in the European energy market. The multi-disciplinary team that advised UEG was led by Nina Tsifudina (Partner) and Atanas Mihaylov (Counsel)
Kinstellar facilitates Araltuz's expansion in Kazakhstan: A landmark English Law transaction
Kinstellar is thrilled to announce our firm's leading role in facilitating a significant transaction whereby the European Bank for Reconstruction and Development (EBRD) has made an investment in Araltuz, a leading Kazakhstan-based producer of table and low-grade technical salt in Central Asia. Led by our outstanding team, including Joel Benjamin, Managing Partner for Central Asia, Kuanysh Shekerbekov, Counsel in Kazakhstan, and Bianka Kovács, Associate in our Budapest office, we provided expert counsel on this ground-breaking transaction governed by English law. Our collaborative effort, supported by Almas Zhaiylgan, Counsel in Kazakhstan, and other colleagues, demonstrated our firm's cross-border capabilities and deep
Kinstellar advises Nestlé on the sale of BOCI chocolate brand in Hungary
Kinstellar has successfully advised the world-leading food company Nestlé on the sale of the iconic Hungarian chocolate brand 'BOCI,' with a heritage spanning nearly a century, to Cerbona, a prominent Hungarian food manufacturing company. Closing is scheduled to take place in May 2024. Kinstellar advised on transactional, commercial law, competition law as well as intellectual property matters. Notably, the transaction involved intricate intellectual property assets, adding complexity and challenge to the process. Kinstellar team was led by Gábor Gelencsér, Partner, supported by Gergely Simon Lipták, Associate. The team also included Dániel Nagy, Managing Associate (IP law), Péter Vörös, Partner
Key milestone in corporate governance reform: Ukraine enacts long-awaited law on the further liberalisation of the SOE sector
The Law of Ukraine “Introducing Amendments to Certain Laws of Ukraine on the Enhancement of Corporate Governance” (the “Law” or the “SOE Law”) entered into force on 8 March 2024. This Law is a significant step towards the alignment of the Ukrainian legal framework for state-owned enterprises (“SOEs”) with international best practices, particularly the OECD Guidelines for Corporate Governance of SOEs. The Kinstellar team was honoured to contribute to the drafting of the Law directly, within the framework of our cooperation with the EBRD. Reflecting this first-hand experience, Kinstellar highlights the role of the adopted Law for the SOE sector, the overall business environment and the broader post-war
Kinstellar advises Genesis Capital on the acquisition of a majority stake in GAF
Kinstellar’s Prague office has successfully advised Genesis Private Equity Fund IV (GPEF IV), from the established private equity group Genesis Capital, on the acquisition of a majority stake in GAF, a Czech manufacturer of specialised metal products. GAF is a major player in metal fabrication, focusing on the complex custom processing of steel, stainless steel and aluminium. The company's products are subject to strict certification and have a wide market application in the food, healthcare, textile, and railway transport industries, among others. The founder and current 100% owner, Mr. Luděk Fofoňka, will retain a significant stake in the company. At the same time, key managers who are also investing in the
Kinstellar advises Genesis Capital on the acquisition of a big player in heating and cooling installations
Kinstellar’s Prague office has successfully advised Genesis Private Equity Fund IV (GPEF IV), from the established private equity group Genesis Capital, on the acquisition of Schulte Group, a key player in heating and cooling installations. Genesis Capital is buying a majority stake. Private equity investors believe that businesses will continue to focus on energy savings and emissions reductions. The fact that multinational corporations are demanding a greener approach from their suppliers in the Czech Republic contributes to this. We expect Schulte's sales to reach CZK 1 billion within three years.Tomáš Sýkora, Investment Director of Genesis The fund' s goal, he said, is to confirm Schulte's position
Kinstellar advises IMMOFINANZ on the sale of Grand Center Zagreb
Kinstellar has successfully advised IMMOFINANZ on the sale of the Grand Center Zagreb office building to a Croatian real estate investment company. Kinstellar advised IMMOFINANZ throughout the process including on structuring of the sale process, structuring of the transaction, due diligence, and transaction negotiations. Located in the heart of the Croatian capital, Grand Center Zagreb stands as a modern, high-quality office building with a distinctive architectural design. With approximately 16,000 sqm of exclusive office space, the property also provides tenants with access to local amenities, including a variety of bars and restaurants. Kinstellar’s team was led by Andrijana Kaštelan, Counsel, and
Slovakia – Choice of jurisdiction in purely national relationships resolved
In its decision of 8 February 2024 (C 566/22), the Court of Justice of the European Union (the ECJ) has finally resolved the long-term practical question (and debate among legal practitioners) whether, in the case of a purely national relationship without the presence of a foreign element or link to several legal orders, contracting parties may choose the jurisdiction of the judicial authorities of any EU Member State. The response is YES. This landmark decision is a clear affirmation of the parties’ autonomy to determine the jurisdiction of the judicial authorities. Simply put, if two Slovak entities enter into an agreement under Slovak law without a link to another Member State or non-Member State, the parties are not
Kinstellar announces new promotions to Counsel
February 2024 – Kinstellar is delighted to announce the promotions to Counsel of: Yerlan Akhmetov, Kuanysh Shekerbekov (Almaty, Kazakhstan), Cătălin Dinu, Cătălin Graure (Bucharest, Romania), Barnabás Sági (Budapest, Hungary), Yulia Eismont, Maksym Tesliar (Kyiv, Ukraine), Michal Forýtek (Prague, Czech Republic), Andrijana Kaštelan, Vedran Kopilović, Marija Vuchetich (Zagreb, Croatia). ALMATY Yerlan Akhmetov focuses on banking and finance, M&A and capital markets matters. Having been with the Firm for nine years, Yerlan has earned a reputation for cultivating strong client relationships, demonstrating leadership qualities and making significant contributions to our firm's success. He has played a key role
Kinstellar advises banking consortium on Telekom Srbija’s tower deal
Kinstellar’s team in Serbia, together with global law firm Paul Hastings, has successfully advised Deutsche Bank, Alpha Bank, UniCredit, and UniCredit Bank Serbia on a EUR 205 million financing for global investment firm Actis in relation to their acquisition of a carved-out tower portfolio from Telekom Srbija, a leading telecommunications operator in the Central and Eastern European (“CEE”) region. The carved-out portfolio is comprised of approximately 1,800 macro towers across Serbia, Bosnia & Hercegovina, and Montenegro. Kinstellar’s team, led by Petar Kojdić (Partner) and Mina Srećković (Managing Associate), played a pivotal role advising on the financing aspects of this transaction. Our
Kinstellar expands its Corporate M&A practice in Bucharest with a new senior hire
Kinstellar is pleased to announce that Claudia Popescu has joined the firm’s Bucharest office as Special Counsel in its Corporate M&A practice. Claudia will strengthen the office’s capabilities and will generate further support for the team in responding to the growing need for corporate and M&A projects in Romania. Claudia Popescu is specialized in M&A, Corporate and Private Equity and has more than 20 years of experience in strategically advising reputable companies on acquisitions and divestments, mergers, intra-group restructurings, regulatory and commercial matters, public offerings of securities, private equity, privatisations and other investment-related matters, including in regulated sectors.