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Deals May 2024

Kinstellar, together with Rymarz Zdort Maruta, advises SMYK Group on the amendment and extension of its financing

Kinstellar has successfully advised SMYK Group and its Romanian subsidiary, SMYK All For Kids, on all Romanian law aspects concerning the amendment and extension of its group financing. The financing transaction involved an extremely tight timeline and required seamless alignment, as it was conducted simultaneously with Bridgepoint’s sale of shares in Smyk Group to Accession Capital Partners (ACP). Kinstellar was previously selected by SMYK Group as its local advisor on various iterations of this financing, and also advised Bridgepoint on the local law aspects of Smyk’s acquisition in 2016. Smyk, established in 1952, is an iconic brand and Poland’s largest chain of stores selling toys, clothing for children

Deals May 2024

Kinstellar advises BIG Mega Renewable Energy on a EUR 92 million financing with EBRD and OTP Bank for the construction and operation of the Urleasca wind farm in Romania

Kinstellar has successfully advised leading developer BIG Mega Renewable Energy on a EUR 92 million financing agreement with the European Bank for Reconstruction and Development and OTP Bank to build and operate the 102 MW Urleasca wind farm in Brăila county, Romania. The milestone project marks BIG Mega Renewable Energy’s first renewable investment in Romania, with the signing of the financing agreement highlighted as a crucial milestone for the company’s expansion strategy in Romania and the Balkans. The Urleasca wind farm is expected to make a significant contribution to Romania’s renewable energy goals, with generation capacity of 292 GWh per year. The financial closing is expected mid-2024. Kinstellar’s

Insights April 2024

Update on the ESG reporting obligations in Bulgaria, Croatia, the Czech Republic, Hungary, Romania and Slovakia

CSRD implementation: regional progress uneven as deadline draws near As the 6 July 2024 deadline for implementation of the EU Corporate Sustainability Reporting Directive (EU) 2022/2464 (the "CSRD") approaches, a new landscape of reporting standards is beginning to take shape across Central and Eastern Europe ("CEE"). Three of the six countries in CEE (the Czech Republic, Hungary and Romania) adopted legislative acts in the beginning of 2024 that, at least partially, implement the CSRD into national legislation. The progress in Slovakia, Bulgaria and Croatia however has been slower. Our third status update on the CSRD implementation in Bulgaria, Croatia, the Czech Republic, Hungary, Romania and Slovakia is available here. For

Deals April 2024

Kinstellar advises the hospitality division of the House of Julius Meinl group on the purchase of the historic Hotel Ambasador in central Bucharest

Kinstellar is delighted to announce it has advised the hospitality division of the House of Julius Meinl on the completion of the purchase of the Hotel Ambasador, one of the most famous hotels in Bucharest. Operating continuously since 1937, it is an iconic landmark in the city. The transaction structure was complicated, as it involved different, numerous sets of owners and involving both share and asset transaction aspects. It took several months to negotiate and close. Julius Meinl intends to invest tens of millions of EUR to refurbish the hotel and bring it to the standards of its “The Julius” brand operating elsewhere. Kinstellar advised on all aspects of the matter, including real estate due diligence

News April 2024

Kinstellar to continue the operation of Noerr’s CEE practice in the Czech Republic, Hungary, Romania & Slovakia

Noerr and Kinstellar are very pleased to announce that Noerr’s practices in Budapest, Bratislava, Bucharest and Prague are to be transferred to Kinstellar. Noerr and Kinstellar have agreed to transfer these practices after the details of the integration are fully worked out. Several important operational and technical aspects, including investments in IT systems, leasehold premises are being worked out and the deal will complete after all necessary regulatory consents and internal approvals have been obtained.  Noerr delivers the highest level of service to its clients. For many years, the law firm has successfully pursued a strategy of qualitative growth. Noerr has operated offices in CEE since 1990 and is very proud of the accomplishments

News March 2024

Kinstellar announces new series of promotions across multiple service lines in Bucharest, Romania

Kinstellar is delighted to announce a new series of promotions in our Bucharest office: 6 of our lawyers, active across multiple service lines, have been promoted to the positions of Senior and Managing Associate. These promotions reflect the office’s commitment to put the right team in place to provide comprehensive legal solutions in a wide range of practices, including corporate M&A, employment, dispute resolution, energy, or real estate.   Lidia Zărnescu, Cătălin Roman and Mihai Stan have been promoted to Managing Associate, bolstering their contribution to the office’s employment, dispute resolution and corporate and M&A recent accomplishments. Lidia Zărnescu is a senior lawyer who boasts

Insights March 2024

CfD Scheme soon to be launched in Romania

On 14 March 2024, the Romanian Ministry of Energy launched for public consultations the draft Government decision on the approval of the general legal framework for the implementation and functioning of the Contracts for Difference support scheme for low carbon technologies ("CfD Scheme"). There is a short deadline for public consultations: 25 March 2024. In early March, Romania received the green light from the European Commission to launch a EUR 3 billion state aid programme to promote the deployment of wind and solar photovoltaic (PV) capacity to meet its energy transition goals. The support scheme foresees two auction rounds, in 2024, the first auction of 2 GW, consisting of 1 GW solar and 1 GW wind; and in 2025

News March 2024

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

Insights February 2024

Update: ESG reporting obligations in Bulgaria, Croatia, the Czech Republic, Hungary, Romania and Slovakia

With the 6 July 2024 deadline for the implementation of the EU Corporate Sustainability Reporting Directive (EU) 2022/2464 (the "CSRD”) looming, Member States across the EU have been moving at different speeds to adopt their respective local implementing legislation. Our second status update on the CSRD implementation in Bulgaria, Croatia, the Czech Republic, Hungary, Romania and Slovakia is available here. At the time of writing, three of the six countries in Central and Eastern Europe that we have been following – the Czech Republic, Hungary and Romania – have already adopted legislative acts that, at least partially, implement the CSRD into national legislation. Slovakia has brought a draft act to parliament

Insights February 2024

Significant changes envisaged to grid connection for new power-generation capacities in Romania

The Romanian Energy Regulatory Authority (“ANRE”) has announced important amendments to the rules for connecting new power-generation capacities to the public network. On 1 February 2024, ANRE released for public consultation a draft order (“Draft Order”) regarding the approval of the Methodology for capacity allocation of new power-generation capacities (the “Methodology”) as well as other amendments to ANRE Order no. 59/2013 approving the public grid connection regulation (the “Connection Regulation”). Comments to the Draft Order may be submitted to ANRE by 1 March 2024. The main changes introduced under the Draft Order concern (i) a change of the grid connection process applicable to power-generation

News January 2024

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.

Insights January 2024

Kinstellar contributes to International Employment Lawyer's Guide to Restructuring a Cross-Border Workforce

Kinstellar is delighted to have contributed to IEL’s Guide to Restructuring a Cross-Border Workforce 2023. In 2023, cross-border restructurings increased significantly – a trend that is expected to persist in early 2024. But conducting the process fairly, and thoroughly, poses a distinct set of hurdles for multinationals. The global guide examines and provides, across 45 jurisdictions, clear answers to the key questions facing employers when conducting a restructuring, under the following areas: Reduction in workforce Restructuring/Re-or ganisation of the business Changing terms and conditions Areas to watch Kinstellar employment team covered the following jurisdictions: