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Deals September 2022

Žurić i Partneri (ŽiP) Kinstellar advises Angelina Yachtcharter Holding on the acquisition of 85% of the shares of Ultra Sailing

Our team in Croatia has advised Angelina Yachtcharter on the acquisition of 85% of the shares of Ultra Sailing. Angelina Yachtcharter, founded in 1995, is the leading nautical charter management company in Croatia, operating a fleet of more than 230 boats berthed in six marinas across the Adriatic coast. With the purchase of Ultra Sailing, an authorised dealer of Beneteau and Fountaine Pajot vessels in Croatia and with a charter fleet of more than 50 boats, Angelina Yachtcharter becomes the largest nautical charter provider in Croatia and strengthens its position as the leading nautical charter operator in the Croatian market. The Kinstellar team in Zagreb was led by Andrijana Kaštelan (Managing Associate)

Deals September 2022

Žurić i Partneri (ŽiP) Kinstellar advises Robin Powered on the acquisition of Flow and Form

Our team in Croatia has advised Robin Powered on the acquisition of Flow and Form, one of Central Europe’s 50 fastest-growing technology companies, known for delivering high-quality, cutting-edge solutions to the real estate technology industry. Over the course of just a few years, Flow and Form has created more than USD 1 billion of new market value and became one of the world leaders in developing innovative solutions for the workspace and real estate software industry. The purchase of Flow and Form gives Robin Powered a new international footprint, a team focused on innovation with proven experience building digital platforms to bridge the gap between in-person and virtual work, and a platform to further grow Robin’s

Deals September 2022

Kinstellar advises e-gaming company 52 Entertainment on the acquisition of Casualino (Zariba Group)

Kinstellar has successfully advised 52 Entertainment, a worldwide leader in bridge online (BBO, Funbridge) and e-sailing (Virtual Regatta), on its expansion into strategy and mind games by the acquisition of Casualino (also known as Zariba Group), the largest independent gaming studio in Bulgaria. The purchase of Causalino, a prolific creator of live games and highly popular brands, will help 52 Entertainment to continue its contribution to shaping the future of mobile and web gaming. The HLD-backed 52 Entertainment is scaling its operations to create new genre-defining top-grossing games for millions of new players.  Kinstellar’s team was led by Antonia Mavrova (Partner) and Atanas Mihaylov (Counsel) and

Deals September 2022

Kinstellar advises Genesis Capital and Integral Venture Partners on the acquisition of BORCAD

Kinstellar has successfully advised Genesis Private Equity Fund IV (GPEF IV), the newest private equity fund of Genesis Capital, and Evolving Europe Principal Investments I (EEPI I), a private equity and growth capital fund advised by Integral Venture Partners, on its acquisition of BORCAD, an innovative producer of train seats and interior equipment for passenger trains based in Fryčovice, Czech Republic. BORCAD is a leading European producer of railway technologies and offers a full range of seats for personal carriages, from standard seats for regional trains to luxury, fully electrically operated seats for long-distance trains. In its more than 30-year history, the company has produced nearly 500,000 seats for

Deals September 2022

Žurić i Partneri (ŽiP) Kinstellar advises on the incorporation of employer associations in Croatia

Žurić i Partneri (ŽiP) Kinstellar has advised two separate groups of companies on the incorporation of two employer associations in Croatia: the Association of Trade and Logistics, and the Association of the Processing Industry and Technology. Both associations were founded with the aim of creating stronger conditions to respond to the challenges of the upcoming period and to contribute to the growth of the competitiveness of both industries through joint action and constructive dialogue with the stakeholders of the relevant institutions, business associations and interest groups. The Association of Trade and Logistics (UTIL) – The Association has 30 founding member companies with together more than 17,000

News September 2022

Kinstellar strengthens its Corporate M&A and Real Estate practices in Bucharest with new senior hires

Kinstellar proudly announces that two experienced senior lawyers have joined the growing team in Bucharest: Mihai Stan, Corporate M&A, and Diana Cochileț, Real Estate & Construction. The new hires, following the recent additions to our employment team, show our commitment to service our clients in areas with strong growth. Mihai Stan focuses on corporate M&A. In his almost nine years of practice, he has been involved in a wide range of matters from mergers, acquisitions, sales of operations and exits, to corporate governance, compliance and company formation issues, having worked for clients active across diverse sectors, including financial institutions, industrial, manufacturing, and pharmaceuticals.

Insights August 2022

Kinstellar overviews the new Ukrainian Law on joint stock companies

On 18 August 2022, the President of Ukraine signed the new Law "On Joint Stock Companies" No. 2493 ("the Law"). It will enter into force on 1 January 2023. The Law was enacted to ensure the fulfilment of Ukraine's obligations under the Association Agreement with the EU regarding the harmonisation of national legislation with EU legislation in the field of corporate governance, as well as to improve Ukraine's position in the World Bank’s “Doing Business” ranking, specifically on the indicator "Protecting Minority Investors".We have prepared a brief overview of the main changes introduced by the Law. Download in English: Download in Ukrainian:

Deals August 2022

Kinstellar advises Kyivstar on the acquisition of a controlling stake in Helsi, in Ukraine

Kinstellar has successfully advised Kyivstar on the acquisition of a controlling stake in Helsi. Kyivstar is the largest digital operator in Ukraine with about 25 million mobile subscribers and over 1.2 million home internet subscribers as of June 2022. The company provides services based on a wide range of mobile and fixed-line technologies, including 4G. Helsi is the largest medical information system and a leading digital provider in the field of healthcare in Ukraine. More than four million people are already users of the Helsi mobile application, with 10 million consultation bookings and three million online consultations per month. More than 1,300 healthcare institutions and over 49,000 doctors throughout

Deals August 2022

Kinstellar and Gen Temizer Özer advise Torunlar Group on the acquisition of a 50% stake in AKCEZ—a joint venture between ČEZ Group and Akkök Group in Turkey

Kinstellar and Gen Temizer Özer are delighted to have supported Başkent Doğalgaz Dağıtım Gayrimenkul Yatırım Ortaklığı A.Ş., the second-largest gas distributor in Turkey and publicly listed on the Istanbul stock exchange, and Torunlar Enerji Sanayi ve Ticaret A.Ş., a Turkish investment holding company and the majority owner of Başkentgaz, on the acquisition of a 50% stake in AKCEZ Enerji A.Ş. (AKCEZ) from ČEZ Group, which following final closure of the deal will exit its existing joint venture with Akkök Group. The transaction is subject to, inter alia, approval by the Turkish antitrust authority and local energy regulator. AKCEZ—a joint venture of ČEZ Group and the Akkök Group—owns the

Deals August 2022

Kinstellar advises Yoummday on its acquisition of ICON Communications Centres

Kinstellar has successfully advised Yoummday, a Munich-based start-up offering job opportunities for a new generation workers via a work-at-home operating system, on the acquisition of ICON Communications Centres. ICON Communication Centres is a multilingual BPO and call centre specialising in inside sales and account management customer experiences for B2B and B2C brands. ICON’s solutions harness a combination of cutting-edge technology and A-player human resource management to deliver high-touch, high-value customer interactions in 30 languages at a native level. Kinstellar advised Yoummday throughout the entire transaction, including on the due diligence process, negotiation of transaction documents and advice

Setting up July 2022

Setting up operations in Croatia

Today’s uncertainties at the European Union’s eastern border have left companies questioning the safety of their people and the continuity of their operations in that part of the world. Businesses in the IT and BPO sectors that had found talent and growth opportunities in countries such as Ukraine or Moldova are now rethinking their strategy and options to move operations across the border, either temporarily or permanently. Our team in Zagreb has prepared a quick overview of the most important aspects that you need to consider if you decide to move your operations to Croatia.  Download in English: Download in Ukrainian:

Insights June 2022

Bulgaria: Director duties and ESG considerations

Bulgarian law requires that the directors of Bulgarian joint-stock companies perform their functions as directors by adhering to the “duty of care” standard of a prudent businessperson and always in the interest of the company and its shareholders. If a director fails to comply, they could be held liable for any damages caused to the company. The required duty of care standard is not easily reconciled with the current shift in corporate governance towards compliance with material ESG factors. While important for all stakeholders (e.g., employees, customers, vendors, and the communities where the company operates), ESG compliance could trigger additional financial costs and potentially be an obstacle to maximising profits.