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Kinstellar advises certain companies within the Schwarz Group on the closing of the acquisition of a majority stake in Supermarket La Cocos in Romania
Kinstellar is pleased to announce that it has advised certain companies within the Schwarz Group, the leading international retail group, on their acquisition of a majority stake in Supermarket La Cocos, a dynamic and fast-growing Romanian hypercash operator, from a consortium comprising Morphosis Capital, CEECAT Capital (SEET), the European Bank for Reconstruction and Development (EBRD) and private investor Iulian Nica. The transaction, announced in 2025, was completed following conditional clearance from the Romanian Competition Council in February 2026, after an in-depth merger control review. The acquisition marks a significant strategic step by the companies within the Schwarz Group in expanding their presence
Kinstellar advises Habitex on the sale of the former textile factory in Baia Mare to Jumbo
Kinstellar has advised Habitex on the sale of the former textile factory site located in Baia Mare to Jumbo, one of the leading international retail chains in the region. The transaction is part of Jumbo’s ongoing expansion in Romania. The transaction was signed at the end of 2025. The redevelopment of the site is expected to contribute to the revitalisation of the area and enhance the local commercial infrastructure. Kinstellar provided legal assistance to Habitex throughout the transaction, including structuring, negotiation and signing of the transaction documents. Kinstellar’s team advising on the transaction was led by Iunia Nagy (Managing Associate), supported by Malina Andries (Associate).
AI washing in the workplace: when “AI made us do it” is not enough
Artificial intelligence is increasingly invoked as the explanation behind organisational changes, productivity shifts, or even workforce reductions. In many cases this reflects a genuine technological transformation. In others, however, AI risks becoming a convenient narrative rather than an accurate description of what actually occurs within a business. The numbers are instructive. According to a report published by Challenger, Gray & Christmas, of the 1.2 million job cuts announced by US companies in 2025, AI was cited in approximately 55,000 of them. When workforce decisions are already subject to scrutiny, explanations that do not hold up to legal or factual examination may create additional risks for employers.
Kinstellar advises shareholders of ROFA Industrial Automation on the sale of ROFA Group to SPIE
Kinstellar is advising the shareholders of ROFA Industrial Automation on the sale of the German ROFA Group to the listed French SPIE Group. ROFA Industrial Automation (ROFA), headquartered in Bavaria, is a leading provider of automation technology, intralogistics solutions, and special‑purpose machinery with operations in China, Austria, Hungary, Romania, the Netherlands, Poland, and the United States. ROFA’s portfolio covers the full project lifecycle, from consulting and software/hardware engineering to manufacturing, commissioning, and after-sales services. By acquiring ROFA, SPIE aims to strengthen its strategic position in the German industrial services market. The transaction remains subject to antitrust
Europe recalibrates: AI copyright and GDPR scope under pressure
Two parallel developments suggest that Europe is drawing clearer boundaries around both AI ownership and data protection. One comes from the Council and the other from a German court, and both signal a more cautious approach toward redefining legal fundamentals in the name of innovation or administrative simplification. 1. Digital omnibus leak: Member States cut the core of the proposed GDPR reform A leaked Council compromise draft removes entirely the proposed redefinition of “personal data” under the GDPR, and that alone underscores how controversial the Digital Omnibus has become. What happened? In November 2025, the European Commission launched the Digital Omnibus, with one of its central ambitions
Understanding the legal landscape of private credits
Private credit has become one of the fastest‑growing segments of modern finance, offering flexible alternatives to traditional lending. Our cross‑border overview brings together the key legal questions that arise across 12 jurisdictions, helping investors, lenders, and borrowers navigate an increasingly complex regulatory environment. This guide highlights the most important considerations—including licensing, security, financial assistance, tax aspects, and insolvency implications—to support more informed decision‑making in private credit transactions throughout Emerging Europe and Central Asia. Partner Tomáš Melišek drove the preparation of the material with the support of local teams of legal experts
Europe’s AI rulebook is taking shape, but the technology is not waiting
Artificial intelligence is entering a decisive phase in Europe. Despite the EU’s ambitious AI Act framework, key guidance remains pending while enforcement scrutiny intensifies and AI adoption accelerates. 1. EU AI Act: a strict framework struggling to keep pace While Europe’s ambition to regulate AI is unquestioned, recent developments signal that the legal framework is struggling to keep pace with both the rapid evolution of the technology and its own aspirations. 1.1. Missed Guidance and Growing Uncertainty The European Commission missed a key deadline on 2 February, when it failed to publish a comprehensive list of use cases to help businesses distinguish between high-risk and non-high-risk
Digital Product Passports: The regulatory shift fashion brands need to plan for
Fashion and luxury brands selling into the EU should prepare for a regulatory shift that will directly affect how products are documented, traced and placed on the market. Regulatory work is now intensifying on implementing measures, including the rollout of Digital Product Passports (DPPs). DPPs are becoming a central instrument in the EU’s strategy to advance circularity, transparency and sustainability. For the fashion industry, DPPs represent not only a compliance obligation, but a shift in how product data and supply chains are managed. DPPs as a new regulatory standard A Digital Product Passport will function as a product’s digital identity, containing information on origin, material composition
Kinstellar advises Garbe Industrial on strategic entry into the Romanian market supported by a partnership with Fortress Real Estate Investments Limited
Febuary 2026 – Kinstellar has advised GARBE Industrial, one of Germany’s leading logistics and industrial real estate investors, on its strategic entry into the Romanian market through a completed acquisition, as part of a broader joint venture investment structure together with Fortress Real Estate Investments Limited, a South African investment fund. This is Garbe’s first project in Romania. The transaction supports Garbe Industrial’s long-term expansion in Romania and underpins the development of a new Class A logistics park planned in the north-west of Bucharest, in close proximity to the A0 ring road. The project is expected to deliver approximately 61,000 sqm GLA on an 11-hectare site, designed to serve both mid-sized and
Romania abolishes the 1% deductibility cap for intra-group IP and management/advisory expenses
At the beginning of 2026, we informed you about a significant tax reform enacted by the Romanian legislature, introducing a new limitation on the deductibility of certain intra-group expenses. Under this measure, taxpayers with turnover below EUR 50 million (not subject to the minimum turnover tax, i.e., IMCA) were allowed to deduct expenses related to intellectual property rights and management and advisory services received from non-resident affiliated parties only up to 1% of total expenses, with any excess being treated as non-deductible for corporate income tax purposes. The measure has now been repealed. Through Government Ordinance no. 6/2026 published on 30 January 2026, the Romanian legislature
EU Pay Transparency Directive: CEE transposition status
The EU Pay Transparency Directive marks a significant shift in how organisations approach pay equity and transparency. Its core objective is to strengthen the principle of equal pay for equal work and work of equal value. EU Member States must transpose the Directive into national law by 7 June 2026, which means the clock is ticking for employers to prepare. Our Employment & Labour Law team prepared an overview summarising the transposition status of the Directive in the CEE as of January 2026. Click on the image below or use this link to read our overview in English.
Navigating the MiCA landscape: Considerations for forum shopping in CEE and beyond
As the European financial market undergoes a major digital transformation, the implementation of the Markets in Crypto-Assets Regulation (MiCA) stands out as a defining milestone. By introducing a harmonised legal framework, the EU is transforming from a frag mented regulatory landscape into the world’s largest single market for regulated digital assets. For crypto-asset service providers (CASPs) and institutional investors, this shift offers a “single passport”, legitimising the industry and enabling growth. Yet the practical application of these rules varies across Member States, influenced by differences in administrative capacity, supervisory culture, and national legal traditions. Choosing a “home” jurisdiction