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Kinstellar advises Mitiska REIM on the acquisition of land in Bratislava for the construction of a retail park
Kinstellar has successfully advised First Retail International 2 (“FRI 2”), a closed-end real estate value-added fund managed by Mitiska REIM, on the acquisition of land in the Slovak capital, Bratislava, for the construction of the “Podunajská brána” retail park, through a joint venture between Mitiska Group and Asset Services, a Czech provider of development, property and facility management services. Work at the site has already begun. Managed by Mitiska REIM, a leading specialist investment management company in European convenience real estate, FRI 2 invests exclusively in retail parks, both clustered standalone units and integrated retail properties. The fund has already deployed more than EUR 200 million
Kinstellar advises MEREP on the acquisition of 50% ownership interest in OC Point Liptovský Mikuláš
Kinstellar has successfully advised Mitiska European Real Estate Partners 3 on the acquisition of a 50% ownership interest in OP Centrum Retail 2 from OPC Group. The target of the transaction, OP Centrum Retail 2, is currently developing a retail park in Liptovský Mikuláš in northern Slovakia. Mitiska European Real Estate Partners 3 (“MEREP 3”) is a fund owned by Mitiska REIM, a leading specialist investor in European convenience real estate. Kinstellar has also recently advised Mitiska REIM on the acquisition of four other retail parks from OPC Group—including Point Skalica, Point Sládkovičovo, Point Žiar nad Hronom, and Point Veľké Kapušany—as part of Mitiska REIM’s plans to expand its retail
Slovakia: Subsidies for the construction of Renewable Energy Sources
Are you considering building your own Renewable Energy Source ("RES") in order to reduce your electricity costs, comply with internal ESG policies, or for any other reason? If so, you may find this overview of currently available subsidies to entrepreneurs in Slovakia for the construction of RES helpful. Currently, there are two opened calls for the submission of applications for state aid in the total amount of EUR 94,554,298. We provide an overview of key information on such aid below. Overview Call Call for the submission of applications for funds from the Recovery and Resilience Facility to support the construction of new facilities for the production
Kinstellar, together with RPC, advises Ingersoll Rand on the acquisition of Oxywise
Kinstellar has recently advised Ingersoll Rand, a global provider of mission-critical flow creation and industrial solutions, on the acquisition of a 100% share in Oxywise, a Slovak engineering company focused on turnkey supplies, service and maintenance of PSA oxygen and nitrogen generators. Ingersoll Rand is an American multinational company that provides flow creation and industrial products. The global market leader, with a broad range of innovative and mission-critical air, fluid, energy and medical technologies, provides services and solutions to increase industrial productivity and efficiency. Since merging with Gardner Denver in early 2020, it has more than 300 years of combined experience and innovative expertise
“Green Claims” in Bulgaria, Croatia, the Czech Republic, Hungary, Romania, and Slovakia
On 22 March 2023, the European Commission published a proposal for a Directive on Green Claims. The proposed Directive aims to tackle false environmental claims by ensuring that consumers receive reliable, comparable and verifiable environmental information on products and services across the European Union. By laying down clear criteria on how companies should evidence environmental claims, along with mandating an EU labelling scheme and new enforcement procedures to secure compliance, the Directive on Green Claims is designed to enable better environmental decision-making by consumers and to reduce so called “green washing” (spurious environmentally friendly claims). However, it will likely still be some time
Compensations for energy prices in Slovakia
On 21 February 2023, the Ministry of Economy of the Slovak Republic (“the Ministry”) published a call for the submission of applications for a subsidy to cover additional costs due to the increase in gas and electricity prices (“the Call”). The aim of the Call is to compensate qualifying companies and natural persons (entrepreneurs) for excessive energy prices from January to March 2023. In this article, we present an overview of the key information. Basis The Call was published in accordance with the state aid scheme approved by the European Commission under No. SA. 104846 under the State aid Temporary Crisis Framework (“the Scheme”). The Ministry has allocated a total amount of EUR 279,820,623
Slovak Republic – New Foreign Direct Investment Screening Act
Act No. 497/2022 Coll. on Screening of Foreign Direct Investments (the “FDI Act”), published on 23 December 2022, will have a significant impact on foreign investments in Slovakia, at least in terms of the time needed to complete transactions. The FDI Act takes effect on 1 March 2023. The new rules do not apply to investments completed prior to such date. Our specialists have put together a summary of the key measures the FDI Screening Act introduces: Download in English: In case of any questions with respect to the above, our specialists are ready to offer guidance and counsel.
Compensations for energy prices in Slovakia
On 1 December 2022, the Ministry of Economy of the Slovak Republic (“the Ministry”) published a call for the submission of applications for the provision of a subsidy to cover additional costs due to the increase in gas and electricity prices (“the Call”). The aim of the Call is to compensate qualifying companies and natural persons (entrepreneurs) for excessive energy prices in August and September 2022. In this article, we present an overview of the related key information. 1 Basis The Call was published in accordance with the state aid scheme approved by the European Commission under No. SA. 104846 under the State aid Temporary Crisis Framework (“the Scheme”). The Ministry