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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.
Impact of intellectual property on M&A transactions in Bulgaria and beyond
Unlocking the value of intellectual property (IP) Hardly anyone could argue against the constantly increasing importance of IP to companies. IP not only affects the business models of companies but also brings additional value to the table (e.g., in addition to its client list and personnel, a target offers proprietary software solutions facilitating and supplementing the company’s normal business activities). This is true not only for the “usual suspects” such as technology companies, FinTech startups, gaming studios, and pharmaceutical companies, but also for companies previously not so heavily dependent on IP assets, such as financial institutions, insurance companies, and retailers. Because of the above, in recent years
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
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.
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
Kinstellar appoints new Service Line Heads
Kinstellar is delighted to announce the appointments of new service line heads. Jan Juroška, a Partner in the Prague office, is the firm-wide Co-Head of M&A, Corporate & Private Equity. Jan has over 15 years of experience advising both local and international clients on a wide range of commercial matters and corporate transactions. Jan specialises in all aspects of corporate law, in particular M&A (including M&A real estate), private equity, joint ventures and employment. Jan is ranked by Chambers Europe and Legal 500 2022 editions, based on excellent client feedback, one stating that ''he knows the business needs of the clients and is very solution and target-oriented''. Edmund Emre Özer, a Partner
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
Kinstellar advises Zoo Group Stefanov pet stores on its sale to A&M Capital Europe
Kinstellar Sofia has advised the owners of Zoo Group Stefanov LLC, operating the most popular pet store chain in Bulgaria, on their successful sale of the company to A&M Capital Europe, a European private equity fund. With 29 locations across Bulgaria and a well-established online store, the fast growing brand specialises in the supply of food and accessories for pets. The sale will enable Zoo Group Stefanov LLC to combine with the other pet store business owned by the purchaser in Bulgaria which will ensure its sustained growth in the future. The Kinstellar team in Sofia was led by Atanas Mihaylov (Counsel), and included Nina Tsifudina (Partner), Nikolay Gergov (Associate), and Yasen Toshev (Junior Associate).
Setting up operations in Bulgaria
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 Ukraine and its neighbours are now rethinking their strategy and options to move operations across the border, either temporarily or permanently. Our team in Sofia has prepared a quick overview of the most important aspects that you need to consider if you decide to move your operations to Bulgaria. Download in English: Download in Ukrainian: