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Kinstellar advises TAWAL on their bid to acquire the tower assets of United Group across Bulgaria, Croatia and Slovenia for EUR 1.2 bn
Kinstellar, working with Morgan Lewis London, has advised TAWAL, the leading integrated ICT infrastructure provider in the Kingdom of Saudi Arabia, on the local law aspects of their successful bid to acquire the tower assets of United Group B.V., consisting of more than 4,800 towers across Bulgaria, Croatia and Slovenia, for EUR 1.2 billion. The closing of the transaction is subject to customary regulatory approvals. Kinstellar assisted with due diligence, regulatory advice and local law support on the transaction documents in Bulgaria and Croatia, and ODI Law in Slovenia provided assistance on all Slovenian law aspects of the transaction. The regional team was led by Diana Dimova, Partner in Sofia. The team in Bulgaria
Loot boxes – still a mystery in CEE?
The recent resolution of the European Parliament on video games calls on the European Commission to take the necessary steps to bring about a European approach to loot boxes which could lead to more restrictive regulation. Kinstellar’s TMT team looked into the national framework for loot boxes in Bulgaria, Croatia, Czech Republic, Hungary, Romania, Serbia, Slovakia, Turkey, Ukraine to conclude that, while no specific local laws exist, the developments around gambling regulation should be monitored, as loot boxes have already been discussed in the context of national rules on gambling in some countries. Click on this link or the image below to read below on overview prepared by our TMT experts in each jurisdiction.
Current eHealth trends in CEE and Turkey
The healthcare industry in Central and Eastern Europe and Turkey is undergoing a digital transformation, with telemedicine at the forefront. Governments and healthcare providers are adopting digital solutions to improve medical services and support healthcare system digitization, which can increase efficiency, reduce costs, and improve access to healthcare. Click on this link or the image below to read the overview put together by a team of our experts led by Partner Tomáš Čihula.
EUIPO offers SMEs trade mark and design grants of up to EUR 1,350
The European Commission and European Intellectual Property Office (“EUIPO”) have launched a small and medium sized business fund (SME Fund) to provide reimbursement for trademark and design application fees and pre diagnostic services. The grant scheme, designed to encourage SMEs to expand their IP portfolios, has a budget of EUR 25 million, available on a first come, first serve basis. The submission period for applications runs from 23 January to 8 December 2023. Read more in the brochure below: Download in English: In case of any questions with respect to the above, our specialists
New updates to the Labour Act in Croatia
The Act on Amendments to the Labor Act in Croatia entered into force on 1 January 2023 and brings numerous changes that require employers to make certain adjustments. In our newsletter, we provide an overview of the most important changes to the Labor Act that relate to the obligation to harmonize the Rules of Procedure with amendments to the Labor Act, amendments of the provisions regulating fixed-term employment, remote work and work at a separate workplace, obligation to appoint persons for protection of employees’ dignity. Download in English:
Decentralized clinical trials: Current developments in CEE and Turkey
The rapid development of technologies and solutions in the healthcare sector is contributing to the proliferation of decentralised clinical trials (“DCTs”). The aim of DCTs is for clinical trials to be conducted more effectively and conveniently – for patients, sponsors and investigators – through the use of digital technologies. In addition, with hospital visits temporarily limited and staff capacities overwhelmed, the challenges associated with the Covid-19 pandemic have significantly underscored the necessity of performing certain elements of clinical trials remotely. Download in English:
Unpacking the European Parliament’s Recent Resolution on Online Video Games
Last week, the European Parliament (“EP”) adopted a resolution on online video games (the “Resolution”) . In essence, the Resolution calls for strong enforcement of consumer protection rules in the video game industry, requires stricter regulation of loot boxes and emphasizes the enormous potential of the gaming sector. Download in English: In case of any questions with respect to the above, our specialists are standing by to offer guidance and counsel.
Žurić i Partneri Kinstellar acts as exclusive legal advisor to Angelina Yachtcharter on the acquisition of Jadranka Yachting
Following its acquisition of Ultra Saling in August 2022, Kinstellar's team in Croatia has assisted Angelina Yachtcharter Holding GmbH on another acquisition of 85% of the shares of Jadranka Yachting, a charter company located in Mali Lošinj, Croatia. Founded in 1995, Angelina Yachtcharter is the leading nautical charter management company in Croatia, currently operating a fleet of more than 280 vessels berthed at ten marinas along the Adriatic coast. With the purchase of Jadranka Yachting, Angelina Yachtcharter adds additional high-quality assets and operations to its existing portfolio and continues to build its presence on the Croatian market as the leading nautical charter operator. The Kinstellar team
NIS 2 Directive – What you need to know
On 27 December 2022, the Directive on “measures for a high common level of cybersecurity across the Union”, repealing Directive (EU) 2016/1148 (the “NIS 2 Directive”), was published in the Official Journal of the European Union. The NIS 2 Directive builds on a previous NIS Directive adopted in 2016 expanding its scope to other entities. Due to a rising number of cybersecurity incidents as well as ongoing increased digitalization, the aim of the NIS 2 Directive is to cover more economic sectors and to introduce additional security and reporting requirements across all EU Member States. Member States will have until 17 October 2024 to transpose the NIS 2 Directive into their national laws. Our specialists
New updates to the Companies Act in Croatia
On 1 January 2023, the euro became the official currency of the Republic of Croatia. As a result, a number of laws in Croatia have been amended. The changes mostly apply to amounts that were previously regulated in Croatian kuna. The amendments to the Companies Act prescribe the conversion of share capital from kuna to euro as a main obligation of companies. Click here to read a summary of key changes, written by Partner Edin Karakas, Managing Associate Vedran Kopilović and Associate Zrinka Ivanković.
Žurić i Partneri Kinstellar advises OTP banka d.d. on the financing for the acquisition of Fiziodent Polyclinic
Our team in Croatia has once again advised OTP banka d.d., this time on the financing for the acquisition of Fiziodent Polyclinic through the sale of a majority ownership stake to Adria Dental Group. Fiziodent operates two polyclinics in the Croatian capital, Zagreb, and employs a total of 40 employees. It was founded in 2003 and is the leading clinic in the field of transparent and mobile braces in the region. OTP banka d.d. continues to support the growth of Adria Dental Group. As the largest dental group in Croatia and the wider region, Adria Dental Group now has more than 450 employees and 180 dental specialists and includes seven clinics and five laboratories in the cities of Zagreb, Solin, Rijeka and Poreč.
End of UBO publicity?
As of 2020, European Union (“EU”) Member States are obliged to make details of ultimate beneficial owners (“UBOs”) of corporate and other legal entities available to the general public. However, in light of the recent decision of the Court of Justice of European Union (“the ECJ”), it is now questionable whether this obligation will remain. The requirement to make details of UBOs publicly available was introduced by Article 30 (5) of Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (“the AML Directive”). The Member States are entitled to restrict public availability of details on UBOs under the AML Directive in the