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Kinstellar and KST Law assist Allison Transmission Holdings to acquire the Off-Highway business of Dana Incorporated for approximately US$2.7 billion
Kinstellar and KST Law are proud to have advised Allison Transmission Holdings on Turkish and Hungarian law aspects in connection with its entry into a definitive agreement to acquire the Off-Highway business of Dana Incorporated, a global leader in propulsion and energy-management solutions for vehicles and machinery across all mobility markets, for approximately US$2.7 billion. Special thanks to our team in Istanbul led by Partner Emre Özer, including Associates Helin Akbulut, Nihal Dilan Cantürk and Tuğberk Çakırca, for their invaluable contribution in making this transaction a success. Kinstellar's team in Budapest consisting of Partner Gábor Gelencsér, Counsel Mónika Frank, Senior Associate Gergely Simon
Kinstellar advised MVM on the sale of its telecoms subsidiary MVM NET to Pro-M in Hungary
Kinstellar is pleased to announce that it has advised MVM, Hungary’s leading state-owned energy group, on the successful sale of its 100% stake in MVM NET to Pro-M. The transaction was signed and closed on 30 April 2025. MVM NET is a key player in Hungary’s telecommunications market, operating a nationwide infrastructure network that provides critical communications services to the energy sector and public institutions. This was a highly strategic and time-sensitive transaction, that demanded not only deep legal insight but also efficient coordination and execution across multiple workstreams. This achievement is a testament not only to the dedication and professionalism of our team, but also to the unwavering
Kinstellar successfully closes the landmark Project Bluesky transaction
Kinstellar Budapest, acting as the lead counsel for Hungary, has successfully closed the landmark Project Bluesky transaction, advising the Hungarian Power Exchange (HUPX) and the Hungarian Transmission System Operator, MAVIR. As part of the particularly complex Project Bluesky transaction, EMS (Serbian Transmission System Operator), ELES (Slovenian Transmission System Operator) and EPEX SPOT (European Power Exchange SE) agreed to the cross-border transformation of the Slovenian ADEX Skrupina holding company, into a Hungarian company, ADEX Szervezett Villamosenergia-piac Holding (ADEX HU). Kinstellar advised on the Hungarian law aspects and implementation of the cross-border transformation, while ODL Law Firm acted as
Kinstellar strengthens its Corporate and M&A team in Hungary, with a senior hire
Kinstellar is delighted to announce the return of László Palócz, a leading M&A lawyer, to our Budapest office, as Counsel, effective 20 January 2025. László spent over six years at Kinstellar earlier in his career, during which his outstanding work on complex corporate M&A transactions and real estate matters earned him a promotion to Senior Associate. László brings in-depth expertise in multiple industries, having represented global investors, asset managers, and multinational corporations in landmark projects, including acquisitions, disposals, and lease negotiations. He has played key roles as part of various high-profile M&A transactions advising on complex legal matters and also has significant
Kinstellar advises Banque Fédérative du Crédit Mutuel S.A. on the acquisition of Magyar Cetelem Bank, Hungary
Kinstellar has successfully advised Banque Fédérative du Crédit Mutuel S.A. (owner of Cofidis Bank) on the acquisition of BNP Paribas’s Hungarian subsidiary, Magyar Cetelem Bank. This transaction exemplifies the seamless and efficient teamwork across service lines at Kinstellar's Budapest office. Kinstellar provided comprehensive assistance to Cofidis Bank throughout the entire transaction process, which included extensive corporate support, banking regulatory approvals, merger clearance, competition law considerations, and the closing of the transaction. It was an exceptionally complex deal, characterized by prolonged and detailed negotiations. The Kinstellar team in Budapest was led by Gábor Gelencsér
Kinstellar advises MAVIR and HUPX on joining Central and Southeast Europe’s largest electricity trading hub
Kinstellar has successfully advised the Hungarian Power Exchange (HUPX), together with the Hungarian Transmission System Operator, MAVIR, on the landmark Project Bluesky transaction: the Hungarian Power Exchange, HUPX’s joining Adex, a leading regional power exchange serving Central and South-Eastern Europe (CSEE). This transaction marks a significant milestone in strengthening and expanding the reach of the regional power exchange group within the region. Adex Group Ltd., which includes operators of power exchanges in Slovenia and Serbia, is recognized as the first regional energy exchange. With this transaction, HUPX becomes the third fully-owned subsidiary of Adex Group Ltd. Subject to regulatory approvals from
Kinstellar advises Nestlé on the sale of BOCI chocolate brand in Hungary
Kinstellar has successfully advised the world-leading food company Nestlé on the sale of the iconic Hungarian chocolate brand 'BOCI,' with a heritage spanning nearly a century, to Cerbona, a prominent Hungarian food manufacturing company. Closing is scheduled to take place in May 2024. Kinstellar advised on transactional, commercial law, competition law as well as intellectual property matters. Notably, the transaction involved intricate intellectual property assets, adding complexity and challenge to the process. Kinstellar team was led by Gábor Gelencsér, Partner, supported by Gergely Simon Lipták, Associate. The team also included Dániel Nagy, Managing Associate (IP law), Péter Vörös, Partner
Kinstellar assists OTP Bank with completing its first acquisition in Central Asia
As previously announced, in December 2022 Kinstellar advised OTP Bank, Hungary’s largest commercial bank and one of the largest independent financial service providers in Central and Eastern Europe, on the successful acquisition of Uzbekistan’s fifth-largest bank, Ipoteka Bank. Kinstellar has continued advising OTP Bank to reach another significant milestone in the transaction, as OTP Bank has completed the first closing of the transaction, i.e. the acquisition of a 73.71% stake in Ipoteka Bank from the state. With the transaction, OTP has become the first foreign lender to participate in the privatisation of Uzbekistan's banking sector. In the next step of the transaction, the remaining shares of Ipoteka Bank
Kinstellar advises OTP Bank on the successful acquisition of Ipoteka Bank in Uzbekistan
Kinstellar is proud to have advised OTP Bank, Hungary’s largest commercial bank and one of the largest independent financial service providers in Central and Eastern Europe, on the successful acquisition of Uzbekistan’s fifth-largest bank, Ipoteka Bank, with an 8.5% market share, more than 1.6 million retail customers and a significant roster of corporate clientele. Having worked together previously on several successful transactions in Hungary and in the CEE region, OTP mandated Kinstellar to handle its first acquisition in Central Asia. The deal involved four Kinstellar offices: Hungary, Uzbekistan, Serbia and Ukraine. According to the sale and purchase agreement signed on 12 December 2022, OTP Bank will