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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).
Kinstellar advises YouGov on the acquisition of GfK's consumer panel business
Kinstellar, in conjunction with DLA Piper, has advised international online research data and analytics technology group YouGov plc on the acquisition of the European Consumer Panel Business of GfK, a German market research firm, for EUR 315 million. Listed on the London Stock Exchange, YouGov has one of the world's largest research networks. Its products and services draw upon a detailed understanding of more than 24+ million registered individuals to deliver accurate, actionable consumer insights. GfK CP compasses over 100,000 households with panels across 16 European countries collecting and providing data on household purchases and insights intо the FMCG sector. The acquisition is subject to customary closing
Kinstellar advises Yanolja Cloud on its acquisition of a leading B2B travel solution provider
Kinstellar, together with a lead counsel Watson Farley & Williams, have successfully advised Yanolja Cloud, a leading global provider of AI-based SaaS solutions for the hospitality and leisure industries, on the multi-jurisdictional acquisition of Go Global Travel (GGT), a B2B travel technology company that distributes its inventory of more than one million hotels and other travel products from 200 countries to over 20,000 client partners. The acquisition of GGT from AMI Opportunities Fund will give Yanolja Cloud unparalleled distribution capabilities, making it a one-of-a-kind company and allowing properties of all types, sizes, and budget ranges – and in every corner of the world – to digitize property operations.
Kinstellar advises Jantzen Renewables on the sale of the Helios 1 photovoltaic cluster in Romania to OMV Petrom
Kinstellar’s team in Romania has advised Danish developer Jantzen Renewables ApS on its transaction with OMV Petrom, the largest integrated energy company in Southeast Europe, for the purchase of the Helios 1 photovoltaic cluster in Romania. With the installed power estimated to be approximately 710 MW, the cluster will be one of Southeast Europe's most significant photovoltaic projects, powering around 280,000 Romanian households annually. Kinstellar advised on all matters pertaining to the transaction, including on the due-diligence and the negotiations with OMV Petrom. The team was led by Iustinian Captariu, Partner and Co-Head of the firm-wide Energy service line, and by Victor Constantinescu, Managing Partner
Kinstellar advises IT start-up Localazy on new venture capital investment
Kinstellar has successfully advised the founder of Localazy, a Czech start-up developing a technology-agnostic platform for translation management, on significant venture capital investment and the entry of new shareholders. The transaction marks a major milestone for Localazy and highlights the growing interest in the company's innovative approach to localisation. Kinstellar advised the founder throughout the investment, including advising on the shareholder relationship arrangements. The Kinstellar team in Prague was led by Jan Juroška (Partner) working with Matěj Večeřa (Senior Associate).
Kinstellar assists OTP Bank with completing its first acquisition in Central Asia
As previously announced, in December 2022 Kinstellar advised OTP Bank, Hungary’s largest commercial bank and one of the largest independent financial service providers in Central and Eastern Europe, on the successful acquisition of Uzbekistan’s fifth-largest bank, Ipoteka Bank. Kinstellar has continued advising OTP Bank to reach another significant milestone in the transaction, as OTP Bank has completed the first closing of the transaction, i.e. the acquisition of a 73.71% stake in Ipoteka Bank from the state. With the transaction, OTP has become the first foreign lender to participate in the privatisation of Uzbekistan's banking sector. In the next step of the transaction, the remaining shares of Ipoteka Bank
Kinstellar, Gen Temizer Özer advise Gora Family on the sale of 100% of their shares in Murat Ticaret to Volex plc
Kinstellar, Gen Temizer Özer have successfully advised the Gora Family on the sale of 100% of their shares in Murat Ticaret, a Turkish complex wire harness manufacturer, to Volex plc, a UK-listed specialist integrated manufacturer of critical power and data transmission products, for a total consideration of up to approximately EUR 178.1 million, together with a placing and retail offer to raise gross proceeds of approximately GBP 60 million in aggregate. As part of the consideration, the Gora Family will be entitled to receive ordinary shares of Volex plc. The transaction is expected to close in the third quarter of 2023, subject to, inter alia, approval by the Turkish and Macedonian competition authorities. Established
Proposed new merger rules in Slovakia
The Government of the Slovak Republic has introduced a draft law on the conversions of companies and cooperatives (the Draft Law) that implements EU Directive 2019/2121, amending Directive 2017/1132 with regard to cross-border conversions, mergers and divisions (the Directive). The Draft Law aims to create a unified, comprehensive and clear legal framework for both domestic and cross-border mergers, divisions and changes of legal form, which should completely replace the current legal framework contained in the Slovak Commercial Code. The Draft Law, which is proposed to take effect 1 March 2024, is currently in the early stage of the legislative procedure, and therefore the final wording of the legislation may differ from
Kinstellar advises global HR and workforce management solutions provider UKG on its acquisition of Immedis
Kinstellar advised UKG Inc., one of the world’s leading HCM cloud companies, on the Bulgarian law aspects of its agreement to acquire Immedis, a global payroll provider. The acquisition, subject to closing conditions, will utilise the strengths of both organisations to transform the traditionally fragmented global payroll model. Тhe Kinstellar team in Sofia was led by Corporate & M&A lawyers Diana Dimova (Managing Partner) and Denitsa Kuzeva (Senior Associate), and included Georgi Kanev (Managing Associate, IP & IT, Data Privacy), Anita Borisova (Senior Associate, Employment), Yasen Toshev (Junior Associate, Corporate and M&A), Antonia Mavrova (Partner, Real Estate) and Simeon Vachev (Senior Associate
Kinstellar advises Rheinmetall on the cooperation agreement with Ukraine’s state-owned defence industry concern, Ukroboronprom
Kinstellar is proud to have advised Rheinmetall on the signing of a cooperation agreement with Ukraine’s state-owned defence industry concern, Ukroboronprom. The two major defence manufacturers intend to create joint capabilities domiciled in Ukraine through setting up a joint venture, which is expected to be operational from mid-July 2023. Starting with the maintenance of military vehicles, the parties plan to move to the transfer of technology, joint production of selected Rheinmetall products in Ukraine, to potentially joint development of military systems, including for subsequent export from Ukraine. The entrance of Rheinmetall marks a new exciting chapter in the development of Ukraine’s defence industries
Kinstellar together with Winston & Strawn advise Tempo Software on the agreement to acquire Amovos
Kinstellar has recently advised Tempo Software, a leading provider of portfolio management solutions for product development organizations, on the acquisition of Amovos, which operates the Old Street Solutions brand. Old Street Solutions is an Atlassian Marketplace Partner simplifying Jira and Confluence with their popular Custom Charts for Jira and Custom Charts for Confluence apps. The acquisition will expand Tempo’s Atlassian-based product suite providing users with easy-to-use, customizable data visualizations of Jira data, so teams can focus on getting work done quickly, not struggling with complicated corporate reporting tools. Mark Lorion, CEO at Tempo Software, said: We’re thrilled to welcome Old
Kinstellar advises S IMMO AG on its acquisition of office buildings and a hotel in the Czech Republic
Kinstellar has successfully advised S IMMO AG, a real estate investment company, on its acquisition of three office buildings and one hotel in the Czech Republic from CPI Property Group. The assets include the Mayhouse and Luxembourg Plaza offices in Prague, ZET.office in Brno, and the Courtyard by Marriott Prague City hotel. The four assets have a total value of EUR 167.7 million and generate annual income of close to EUR 8.4 million. The Kinstellar team was led by Klára Štěpánková (Partner) and included Martin Holub (Managing Associate) and Dominik Ševců (Junior Associate). Other team members included Jakub Šťastný (Senior Associate), Anna Veselská (Associate), Arťom Gnědin (Associate), Adam Němec (Managing