16 July 2025 – It has come to our attention that there is an increased level of impersonation fraud activity targeting Kinstellar. This includes a number of unauthorised, fraudulent emails falsely claiming to originate from various Kinstellar offices, as well as a fake website – "kinstellar.finance" – that is fraudulently using our firm's name, offering non-existent legal services by non-existent lawyers, and referencing the address of our Prague office. Th e website "kinstellar.finance" has no connection whatsoever to Kinstellar or any of its offices. Any communications originating from that domain, or similar unofficial sources, are part of an illegal impersonation scam. This fraudulent
Kinstellar has recently advised JSC Halyk Bank on its USD 237 million strategic partnership with Uzbekistan's leading fintech platform, Click – a landmark transaction reflecting the growing convergence of banking and digital services in Central Asia. Under the deal, Halyk acquires a 49% stake in Click for USD 176.4 million, while Click's shareholders take a 49% stake in Halyk's Uzbek subsidiary, Tenge Bank, for USD 60.76 million. Representing the largest private sector transaction in Uzbekistan to date, the deal features an innovative and balanced structure that enables both parties to remain independent while forming a powerful alliance in Uzbekistan's rapidly evolving digital finance landscape. The partnership
We are proud to support MVM, Hungary's state-owned energy company, in expanding its presence in Serbia. Our Budapest and Belgrade offices jointly advised on the signing of the transaction documents for acquisition of a majority shares in Energotehnika Južna Bačka and Elektromontaža Kraljevo - raising MVM's share from 33.4% to 60%. Energotehnika Južna Bačka and Elektromontaža Kraljevo are among Serbia's leading energy infrastructure companies, with decades of experience and strong market reputations. This strategic move reflects MVM's long-term commitment to the Western Balkans and strengthens its role in the region's energy infrastructure. Serbia's geographic position and favorable market conditions make
Our ESG Legal Update provides a snapshot of recent regulatory developments across Central and Eastern Europe and Central Asia, with input from Kinstellar's ESG Service Line members. Several cross-border trends emerge. The transposition of the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CS3D) remains ongoing in many jurisdictions, often delayed or adapted in response to recent EU-level changes. In parallel, regulators in multiple countries—such as Austria, the Czech Republic, Turkey, and Ukraine—are strengthening ESG risk management requirements in the financial sector. There is also a clear push toward more robust environmental compliance and
The second quarter of 2025 marked a dynamic period for competition law in Romania, driven by significant legislative developments, a surge in merger activity, and the launch of several new investigations. In this Competition Law Update, we highlight the key developments and explore their potential implications for the remainder of the year. Latest Updates Legal privilege-related amendments to Romanian Competition Law As of 26 June 2025, the Romanian Competition Council ("RCC") operates under updated procedural rules concerning the treatment of communications claimed to be protected by legal professional privilege ("LPP") during dawn raids. These changes stem from the enactment of Law No. 111/2025
The second quarter of 2025 marked a dynamic period for competition law in Romania, driven by significant legislative developments, a surge in merger activity, and the launch of several new investigations. In this Competition Law Update, we highlight the key developments and explore their potential implications for the remainder of the year. Latest Updates Legal privilege-related amendments to Romanian Competition Law As of 26 June 2025, the Romanian Competition Council ("RCC") operates under updated procedural rules concerning the treatment of communications claimed to be protected by legal professional privilege ("LPP") during dawn raids. These changes stem from the enactment of Law No. 111/2025
Kinstellar is pleased to announce it has advised Park Lane Developments, a leading commercial property company in Bulgaria and its joint venture with Mitiska REIM, a major real estate investor, on the acquisition of a sizeable land plot of nearly 22,000 sq. m in Varna, Bulgaria, for the development of a new retail park. The retail park will feature a variety of national and international brands and represents a significant addition to the region's commercial infrastructure. This marks Mitiska's third retail park investment in Bulgaria, reinforcing its growing presence in the market. The Kinstellar team was led by Antonia Mavrova (Partner) and Atanas Mihaylov (Counsel), with key support from Denitsa Kuzeva (Senior
The European Commission issued an informal guidance letter to the Automotive Licensing Negotiation Group (ALNG), marking the first application of the Informal Guidance Notice allowing for undertakings to approach the Commission with novel or unresolved issues concerning European competition law. Licensing Negotiation Groups (LNGs) are a novel form of agreement and share certain characteristics with joint purchasing agreements – only that they aim at licensing intellectual property rights instead of purchasing goods or services. ALNG, formed by BMW, Volkswagen, ThyssenKrupp and Mercedes-Benz, is the first of its kind in the EU, aimed at licensing standard essential patents (SEPs), which are patents that are required to
Kinstellar has successfully advised Black Diamond and its parent company Clarus, a global leader in climbing, skiing, and outdoor sports equipment, on the divestiture of its snow safety business by selling the shares in Black Diamond Austria GmbH and its operating subsidiary, PIEPS GmbH, to an international private investment firm. This cross-border transaction represents a strategic portfolio adjustment for Black Diamond and Clarus, enabling the company to sharpen its focus on its core areas of expertise, while ensuring continued growth opportunities for the snow safety brand Pieps under new ownership. Our team provided comprehensive legal support throughout the transaction, including structuring, negotiation, and
Kinstellar acts as trusted legal counsel to leading investors across Central and Eastern Europe (CEE), Southeast Europe (SEE) and Central Asia. Our reputation for quality, excellence and integrity speaks for itself.
With offices in 12 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.
*2024 rankings in core practice areas in international legal directories (Chambers & Partners, Legal 500, IFLR1000)
With expert local knowledge and a track record at the international level, our lawyers provide top-tier advice and client service in Central and Eastern Europe (CEE), Southeast Europe (SEE) and Central Asia.
Our TeamWe are proud to support MVM Zrt., Hungary’s state-owned energy company, in expanding its presence in Serbia. Our Budapest and Belgrade offices jointly advised on the signing of the transaction documents for acquisition of a majority shares in Energotehnika Južna Bačka and Elektromontaža Kraljevo - raising MVM’s share from 33.4% to 60%. 📈 Energotehnika Južna Bačka and Elektromontaža Kraljevo are among Serbia’s leading energy infrastructure companies, with decades of experience and strong market reputations. This strategic move reflects MVM’s long-term commitment to the Western Balkans and strengthens its role in the region’s energy infrastructure. Serbia’s geographic position and favorable market conditions make it a natural hub for further growth. 🌍 The deal follows MVM’s initial investment in 2022 and builds on the strong performance of both Serbian companies. The transaction is expected to close in Q3 2025, pending regulatory approval. ✅ 🤝 Our team was led by Sara Ostojić, Senior Associate (Belgrade), Aron Barta, Managing Associate, and Katalin Nógrádi, Senior Associate (Budapest), with key support from Belgrade office Partners Miloš Velimirović and Milan Samardžić. 🔗 https://lnkd.in/drhq8hvj #ExceptionalTogether #DoneDeals #Hungary #Serbia #MVM #Energy #EnergyLaw #MergersAndAcquisitions #CEE #WesternBalkans
📢 We are proud to have advised KentBank, a client-focused Croatian bank specialising in retail and SME banking, on a strategic transaction involving the acquisition and maintenance of core banking software source code. 🤝 Our team in Zagreb provided end-to-end legal support—leading negotiations, drafting and reviewing key transaction documents, and advising on intellectual property protection and compliance with banking industry standards during the transitional period. 💼 The transaction was led by Miroslav Plašćar, Co-Managing Partner, Zagreb, and Vedran Kopilović, Counsel, with the support of our local technology and intellectual property team. #ExceptionalTogether #MergersandAcquisitions #Croatia #DoneDeals #TechnologyLaw #IntellectualProperty #LegalTech
👨💻 As of 1 July 2025, major amendments to the Foreigners in the Republic of Bulgaria Act have officially come into effect. One of the most notable changes is that Bulgaria has introduced a new residence permit option for digital nomads - a big step towards attracting remote talent from around the world. To qualify as a digital nomad, applicants must meet specific criteria outlined in the new legislation. 💡 Read the full article for more details here: https://lnkd.in/dYenZQh4 ✍️ Written by Nina Tsifudina (Partner) and Vilislava Kolarova (Associate). #ExceptionalTogether #Employment #Law #DigitalNomads #Bulgaria #ImmigrationLaw #RemoteWork #LegalUpdate #DigitalNomad
🏢 We’ve moved! 🇺🇿 We are delighted to announce that our Tashkent office has moved to a new address: 📍 NEST ONE TOWER 1a-4 Islam Karimov Street, Block C 14 Floor, Office 116 This marks a big step in our team’s growth and commitment to providing top-tier legal services in #Uzbekistan and the wider Central Asia region. Our new and modern space will even better support our growing team. We look forward to welcoming you to our new home! 🎉 #ExceptionalTogether #NewOffice #Tashkent #OfficeMove #CentralAsia #Tashkent #TeamGrowth
🌿 ESG legal update: Central and Eastern Europe & Central Asia | Q2 2025 🔍 The second quarter of 2025 has brought a new wave of ESG regulatory activity across the region. From the roll-out of national sustainability strategies to the implementation of the Corporate Sustainability Reporting Directive (#CSRD) and preparations for the Corporate Sustainability Due Diligence Directive (#CSDDD), local frameworks continue to evolve in both EU and non-EU jurisdictions. 📘 Our latest update offers practical insights from Austria, Bulgaria, Croatia, Czech Republic, Hungary, Kazakhstan, Romania, Serbia, Slovakia, Turkey, Ukraine, and Uzbekistan – including: • National-level ESG reporting guidance and templates • Legal developments around sustainability due diligence and climate strategies • Taxonomies, enforcement trends, and other implementation highlights 📎 Read the full update here: https://lnkd.in/dqYe7DsW 👏 A big thank you to all our contributors across the region – and especially to Jan Lehký (Partner, Prague & Head of the ESG Service) for coordinating this quarterly release. #ESG #Sustainability #ESGCompliance #LegalUpdate #CEE #CentralAsia #ExceptionalTogether #InTheKnow #GreenTransition #SustainabilityReporting #CS3D #EU
🌟🇺🇦 We are proud to share that our team in #Kyiv has won the #Ukraine Firm of the Year award at the 2025 LMG Life Sciences Awards EMEA. 🙏 We sincerely thank our clients for their continued trust, and 👏 congratulate our Partners Anastasiya Bolkhovitinova and Natalia Kirichenko, Senior Associates Larysa Gorbunova and Olena Stanishevska, and the entire team on this outstanding achievement and your impactful work. 🔬 The LMG Life Sciences Awards celebrate the top companies, law firms, and practitioners in the life sciences sector — spanning biotech, pharma, medical devices, and agritech. 📩 Contact Anastasiya Bolkhovitinova or Natalia Kirichenko for all of your life sciences and healthcare legal needs. Let’s continue making a difference in life sciences — to live and extend healthy lives! 🌱🌎 #LMGLifeSciencesAwards #ExceptionalTogether #LegalExcellence #EMEA #Ukraine #InTheKnow #FirmoftheYear #LifeSciencesLaw
We are pleased to announce we have advised Park Lane Developments, a leading commercial property company in Bulgaria and its joint venture with Mitiska REIM, a major real estate investor, on the acquisition of a sizeable land plot of nearly 22,000 sq. m in Varna, Bulgaria, for the development of a new retail park. 🏙️ The retail park will feature a variety of national and international brands and represents a significant addition to the region’s commercial infrastructure. This marks Mitiska's third retail park investment in Bulgaria, reinforcing its growing presence in the market. 📌 Our team was led by Antonia Mavrova (Partner) and Atanas Mihaylov (Counsel), with key support from Denitsa Kuzeva (Senior Associate) and Simeon Vachev (Senior Associate). 🔗 https://lnkd.in/dhicrA6s Read more about Park Lane Developments here: https://park-lane.eu/ #ExceptionalTogether #DoneDeals #Bulgaria #RealEstateLaw #MergersAndAcquisitions #MandA #RealEstate #RetailPark
We were delighted to welcome Andrija Geric in our Belgrade office - an icon of Serbian and international volleyball, and a true embodiment of excellence in sports and beyond. 🏐🥇 As a former Olympic medalist, European champion, and one of the most decorated players in the history of Serbian volleyball, who's now helping individuals and teams as a certified sports psychologist and performance coach, Andrija brought a wealth of experience to the session. During his visit, Andrija delivered an engaging and insightful session on the principles of high performance, the power of teamwork, the psychology of competition, and how lessons from elite sports can be applied in personal and professional development. His perspective on resilience, growth, and the mindset of champions left a lasting impression on our team. 💡 A truly energising and thought-provoking session - thank you, Andrija! 👏 #ExceptionalTogether #AndrijaGerić #OlympicMindset #Teamwork #Leadership #SportsPsychology #TeamSpirit #Serbia
📢 Legal update: Romania steps up antitrust enforcement Q2 2025 saw major developments in Romanian competition law, including key legislative changes and increased enforcement by the Romanian Competition Council (RCC). What’s new? ⚖️ Legal privilege – Inspectors may now review external elements of privileged documents during dawn raids, raising confidentiality concerns. 💶 Merger control – Higher authorisation fees now apply, even to ongoing deals. Call-in powers for below-threshold mergers are expected by year-end. 📊 Notable cases: • Vodafone and Digi’s Telekom Romania deal is under public consultation • Altex’s acquisition of Bricostore Romania is cleared unconditionally 🚨 New investigations: • Automotive aftermarket • Food supplements (Sun Wave Pharma) • COVID-era procurement • Road signage tenders 📌 Takeaway: The RCC is tightening oversight. Companies should review antitrust risk and compliance strategy. 👉 Read the full article: https://lnkd.in/drWDi4J2 ✍️ By Luiza Bedros (Associated Partner), Cătălin Graure (Counsel), Marc Barabas (Associate), and Cristina Costin (Junior Associate). #ExceptionalTogether #CompetitionLaw #Romania #Antitrust #MergerControl #PublicProcurement #Compliance #LegalUpdate #RCC #intheknow