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Insights March 2024

Improved leniency policy: Overview for businesses in light of Ukraine's new competition law

A leniency procedure has been in place in Ukraine for many years. However, available data suggests it has been severely underutilised. A recent first stage of competition law reforms in Ukraine introduced, among other things, an improved leniency policy. The changes, implemented in February 2024, are aimed at aligning the respective local regulations more closely with EU laws. The most noteworthy changes include: in addition to full immunity for a first applicant, the programme offers a reduction in fines for other cartel participants applying for leniency; the possibility to conduct anonymous preliminary consultations with the regulator; a detailed procedure for obtaining a marker.

Deals March 2024

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

Insights March 2024

Key milestone in corporate governance reform: Ukraine enacts long-awaited law on the further liberalisation of the SOE sector

The Law of Ukraine “Introducing Amendments to Certain Laws of Ukraine on the Enhancement of Corporate Governance” (the “Law” or the “SOE Law”) entered into force on 8 March 2024. This Law is a significant step towards the alignment of the Ukrainian legal framework for state-owned enterprises (“SOEs”) with international best practices, particularly the OECD Guidelines for Corporate Governance of SOEs. The Kinstellar team was honoured to contribute to the drafting of the Law directly, within the framework of our cooperation with the EBRD. Reflecting this first-hand experience, Kinstellar highlights the role of the adopted Law for the SOE sector, the overall business environment and the broader post-war

Deals March 2024

Kinstellar advises S IMMO AG on the sale of Zagrebtower

Kinstellar has successfully advised S IMMO AG on the sale of Zagrebtower office building to the OTP Group. The transaction is expected to close in the third quarter of 2024, subject to the necessary regulatory approvals. Kinstellar advised S IMMO AG throughout the process including on structuring of the transaction, due diligence, and transaction negotiations. Located in the heart of the Croatian capital, the class A office building encompasses a total net area of almost 26,000 m² and has a BREEAM International In-Use Excellent certificate. Zagrebtower consists of a 22-storey, 79 metre office tower with a connected nine-storey low-rise building. The tenants include the Croatian Ministry of Economy and

Insights March 2024

Get ready for the new foreign direct investment screening regime in Bulgaria

A foreign direct investment screening mechanism entered into force in Bulgaria on 12 March 2024. The mechanism applies Regulation (EU) 2019/452, establishing a framework for the screening of foreign direct investment (“FDI“) into the Union. This is a significant development in the regulatory landscape governing foreign investments in Bulgaria, although some uncertainty remains as to its impact. Due to certain lack of clarity in the final text of the legislation, each investment should be carefully analysed on a case-by-case basis, especially during the transition period. Investments requiring an FDI approval According to the bill amending the Investment Promotion Act (“IPA”), an investment in Bulgaria is

Insights March 2024

Do you want to litigate in Slovakia? From 1 April 2024 you will pay more

At the end of last year, the National Council of the Slovak Republic adopted changes to administrative fees, court fees and fees in other areas of public administration. From 1 April 2024—just a few days from now—not only will it be necessary to pay more for various administrative matters, but court fees will also increase. Click on one of the images below or click on the following links to read the overview covering the respective changes in English or in Slovak.   Downloa d in English: Download in Slovak:

Insights March 2024

Ukraine leaps forward in its cannabis policy

A cannabis law passed by the Ukrainian parliament back in December of last year, will come into force on 16 August 2024. Developed in compliance with EU regulations, the law represents a significant overhaul of cannabis regulations in Ukraine. Secondary cannabis-related legislation is expected to be drafted by the Ukrainian government by the end of May 2024. Click on one of the images below or click on the following links to read the overview in English or in Ukrainian.   Down load in English: Download in Ukrainian:

News March 2024

Kinstellar announces new series of promotions across multiple service lines in Bucharest, Romania

Kinstellar is delighted to announce a new series of promotions in our Bucharest office: 6 of our lawyers, active across multiple service lines, have been promoted to the positions of Senior and Managing Associate. These promotions reflect the office’s commitment to put the right team in place to provide comprehensive legal solutions in a wide range of practices, including corporate M&A, employment, dispute resolution, energy, or real estate.   Lidia Zărnescu, Cătălin Roman and Mihai Stan have been promoted to Managing Associate, bolstering their contribution to the office’s employment, dispute resolution and corporate and M&A recent accomplishments. Lidia Zărnescu is a senior lawyer who boasts

Deals March 2024

Kinstellar advises Genesis Capital on the acquisition of a majority stake in GAF

Kinstellar’s Prague office has successfully advised Genesis Private Equity Fund IV (GPEF IV), from the established private equity group Genesis Capital, on the acquisition of a majority stake in GAF, a Czech manufacturer of specialised metal products. GAF is a major player in metal fabrication, focusing on the complex custom processing of steel, stainless steel and aluminium. The company's products are subject to strict certification and have a wide market application in the food, healthcare, textile, and railway transport industries, among others. The founder and current 100% owner, Mr. Luděk Fofoňka, will retain a significant stake in the company. At the same time, key managers who are also investing in the

About us

Kinstellar acts as trusted legal counsel to leading investors across Emerging Europe and Central Asia. Our reputation for quality, excellence and integrity speaks for itself.

With offices in eleven jurisdictions and over 300 local and international lawyers, we deliver consistent, joined-up legal advice and assistance across diverse regional markets – together with the know-how and experience to champion your interests while minimising exposure to risk.

Our clients include leading international and regional corporations, banks and other financial institutions, state bodies, multi-lateral institutions, and international law firms with clients that require top-quality legal counsel in our jurisdictions. We handle the most important and complex assignments for clients across diverse industries and business sectors.

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Newsfeed

The Kinstellar Prague office had the pleasure of hosting an event focusing on the pivotal "New State Energy Concept". It was a privilege to convene leading minds from the Czech energy and industrial sectors, sparking in-depth discussions on the future of energy.

🚀 🇺🇦 Exciting News for Corporate Governance Reform in #Ukraine! 💼 Ukraine has taken a monumental step forward with the enactment of the #Law on the Further #Liberalisation of the SOE Sector. 👉 This law aligns Ukraine's legal framework for state-owned enterprises (SOEs) with international best practices, particularly the #OECD Guidelines for the Corporate Governance of SOEs. 🌍 Kinstellar was honoured to contribute to the drafting of this important law, which will help shape Ukraine's business environment and post-war recovery efforts. 📝 Learn more about key developments and gain practical insights via our legal alert prepared by Corporate Team members Olena Kuchynska, Managing Partner and Olena Kandya, Senior Associate. Check out the full legal alert below 👇 https://lnkd.in/dp9cY898 #intheknow #ukrainelegislation #legalinsights #leadinglawyers

Last week, Kinstellar had the pleasure of co-hosting a breakfast briefing in Prague, focusing on the real estate markets in Poland and the Czech Republic, alongside Linklaters Warsaw and ULI Poland/Czech Republic.

 📢 🇭🇷 We're thrilled to announce that Kinstellar has successfully advised S IMMO AG on the sale of the prestigious #Zagrebtower office #building to the OTP Group. 🏢 Situated in the heart of Zagreb, this class A office building boasts nearly 26,000 m² of space and holds a coveted BREEAM International In-Use Excellent certificate. ⭐ Our team provided comprehensive support to S IMMO AG throughout the process, covering everything from structuring the deal to due diligence and negotiations. 🙌 Big kudos to our stellar team led by Andrijana Kaštelan, Counsel, alongside Senior Associates Matea Sekur and Zrinka Ivanković Šperanda. 🔗 https://lnkd.in/d4ci8R2y #donedeals #Kinstellar #RealEstate #Zagrebtower #OTPGroup

🇧🇬 📑 #Bulgaria’s new foreign direct investment (#FDI) mechanism has entered into force, introducing an FDI screening regime for foreign investors if certain criteria are met. 👉 Our FDI team in Sofia has delved into the new legislation to prepare a synopsis of the changes investors in Bulgaria should expect. Given some ambiguities in the final text, each investment will require careful case-by-case analysis, especially during the transitional period.   👓 Read here: 🔗 https://lnkd.in/d7_C7fY3   🙌 The Sofia FDI team of M&A and competition lawyers includes Nina Tsifudina (Partner), Milka Nikolova (Of Counsel), Debora Dineva (Associate), and Simona Damyanova (Junior Associate).   #intheknow #foreigninvestment #legalupdate

🌟 #15 years #15 voices. 🙌🏼 #15 years since Day 1, what does Kinstellar actually mean to its people? 🎤 We talked to 15 people from our offices who describe their experience of working at the firm and what Kinstellar represents to them. 🎬  Yulia Eismont, Counsel in our #Kyiv office is sharing how Kinstellar’s resilient team is overcoming the toughest of times in #Ukraine. Kinstellar is more than a business; it's a #community of #stellar individuals bound by shared values. “We support each other, we serve our clients and we serve our community.” At Kinstellar, giving back to our community is a commitment that drives us to make an impact wherever we can. 🙌. #exceptionaltogether #15years #leadinglawfirm #leadinglawyers #SlavaUkraini

🎉 🇷🇴 Very happy and proud to announce a new series of #promotions in our #Bucharest office 👇🏻   👏🏻 Our congratulations to: ⭐ Lidia Zarnescu, Catalin Roman and Mihai-Cristian Stan, who have been promoted to Managing Associate, bolstering their contribution to the office’s #employment, #dispute resolution and #corporate and M&A recent accomplishments. ⭐ Ioana-Mihaela Criste, Rena Saftencu and Cosmin Vasilescu, who have also been promoted to Senior Associate, as a recognition of their dedication and diligence in handling numerous recent deals across key active areas: #energy and real estate. 💬 Victor Constantinescu, Managing Partner of our Bucharest office, adds: “We are delighted to recognize the contributions of all colleagues mentioned above with these promotions. They have proven themselves as valuable members of our #team and sharing our values – and we thank them. We wish them the best of luck in their new roles and look forward to their continued success!” 🔗 https://lnkd.in/d_nQWMYX #exceptionaltogether #promotions #leadinglawyers #growth

📢 🇺🇦 Long-awaited changes in Ukraine’s #cannabis policy ⚕ On 16 August 2024, the new law legalising the #medical use of cannabis will come into force in #Ukraine. It will expand patients' access to necessary #treatment for oncological diseases and post-traumatic stress disorders resulting from the war. The law also elaborates on the cannabis use for #scientific, and industrial purposes. 🚫 The recreational use is not expected to be allowed anytime soon. 📑 Read below an overview of the key implications of this landmark #legislation prepared by Anastasiya Bolkhovitinova, Partner, and Larysa Gorbunova, Associate. 👉 The overview covers #licensing, #import restrictions, patient rights, tetrahydrocannabinol (THC) content #regulation and much more.   🔗 https://lnkd.in/gq9Mz3St #intheknow #ukrainelegislation #cannabislegislation #newlegislation

📢 🇨🇿 Kinstellar’s Prague office has successfully advised Genesis Private Equity Fund IV (GPEF IV), from the established private equity group Genesis Capital, on the #acquisition of a majority stake in GAF, a Czech manufacturer of specialised metal products. 🌟 The Kinstellar team was led by Jan Juroska (Partner) and Michal Kníž (Managing Associate) and included Tomas Cihula (Partner), Martina Mazurkova (Senior Associate), Dominik Ševců, Antonín Seidel (Junior Associates) and Jakub Rubáš (Research Assistant). #donedeals #exceptionaltogether #leadinglawyers https://lnkd.in/exu5QUQU