Kinstellar has successfully advised AJFH (the family office of experienced entrepreneur and investor Andrej Jovanović) on the acquisition of Imlek, a leading dairy producer in Southeast Europe, from MidEuropa Partners. The transaction is expected to close in Q1 2026, subject to standard regulatory approvals and completion conditions. Imlek is headquartered in Belgrade, Serbia, and operates production facilities (dairies) in North Macedonia and Bosnia & Herzegovina. Our team provided full-scope legal advice, including transaction structuring, negotiation of the transaction documents, financing, and regulatory/competition support. The project was led by Partner Hugh Owen, supported by Associate James
Kinstellar has advised PPF Group and its shareholders on an agreement with ForteBank for the sale of 100% of Home Credit Bank Kazakhstan and its associated businesses. The terms of the transaction remain undisclosed and the deal is subject to customary regulatory approvals in Kazakhstan. Home Credit has been active in Kazakhstan since 2005, marking the fourth market entered by PPF Group’s financial services subsidiary, following its establishment in the Czech Republic in 1997. Since its inception in Kazakhstan, Home Credit has operated as a fully licensed bank specialising in consumer finance and has been a long-standing leader in the point-of-sale (POS) loan segment. ForteBank is a leading player in Kazakhstan’s
Kinstellar is pleased to announce that it has advised Blue Sea Capital on the sale of MediGroup, Serbia’s largest private healthcare provider, to Mehiläinen Group, Finland’s largest private healthcare provider. The transaction forms part of a broader regional deal involving the Regina Maria Group, MidEuropa’s healthcare services platform in Central and Eastern Europe. Blue Sea Capital is an independent private equity firm with offices in Belgrade and Zagreb, focusing on small and medium-sized enterprises in the region. MediGroup is the largest private healthcare provider in Serbia, offering a wide range of services, including inpatient and outpatient care, laboratory diagnostics, IVF, maternity, and ophthalmology.
Kinstellar is very pleased to announce that Hugh Owen joins the Firm as a Partner, effective 1 October 2024. Hugh is a very well-known leading M&A lawyer in the Central and South Eastern European region with an impressive track record. He spent over 23 years at Allen & Overy, including 13 years as a partner. He then ran his own law firm and M&A training business for four years as a sole practitioner, closing over 20 deals with a combined value of over EUR 2.5 billion. For two years from July 2022 to June 2024 he served as Head of Legal Business Solutions for PwC CEE, responsible for the strategy for Legal in over 25 jurisdictions, including Eurasia, core CEE countries, the Baltics, Ukraine and South-Eastern