Kinstellar has successfully advised S IMMO AG, a real estate investment company, on acquiring a property portfolio in the Czech Republic from CPI Property Group. The property portfolio comprises 11 office and retail properties, as well as development land. The transaction's property value is EUR 481 million, with an annual rental income of approximately EUR 29 million. Klára Štěpánková, Partner and the Co-head of the firm-wide Real Estate sector and Real Estate, Construction & Planning services added: We are thrilled to have advised S IMMO AG on this large and complex portfolio transaction and assist them in further expansion in the Czech Republic. The Kinstellar team was led by Klára Štěpánková
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 before
Kinstellar, together with Veil Jourde as lead counsel, has successfully advised Jacquet Metals, a European leader in the customisation and distribution of specialty metals, on the multi-jurisdictional acquisition of several distribution companies from Swiss Steel Group, a world leader in the production of specialty long steel. Kinstellar provided a full range of legal services to support the transaction, including due diligence and regulatory advice covering several Central and Eastern European countries. We also provided transactional advice, with a focus on the local law requirements arising in connection with the negotiation of the SPA and the completion of the transaction. The Kinstellar team, including
Kinstellar has successfully advised Siemens Mobility on the acquisition of the Slovak company HMH, a leading regional producer and innovator of railway security solutions. Siemens Mobility, part of the Siemens multinational conglomerate, has been a leader in transport solutions for more than 160 years. It offers a comprehensive portfolio through its five business units: Rail Infrastructure, Turnkey, Rolling Stock, Customer Services and Intelligent Traffic Systems. HMH is a Slovak-based technology company and producer of the MIREL national train protection system for Slovakia, the Czech Republic, Hungary, and Poland. Designed as a harmonised system with an interface according to European rail standards, MIREL
Kinstellar, Gen Temizer | Özer have successfully advised British Petroleum (bp) on the sale of its downstream business in Türkiye to Petrol Ofisi, Vitol’s Turkish subsidiary. The transaction is the most significant oil & gas deal of recent times in Türkiye and is expected to close in 2024, subject to, inter alia, anti-trust approval. The team was led by Partner Baran Gen and supported by Counsel Mert Elçin, Senior Associate Şeyma Olğun and Associates Sıla Özge Şaylı, Dilara Demir and Osman Tuğberk Çakırca. The firm’s anti-trust team was led by Partner Bulut Girgin and Associates Orçun Horozoğlu and Simru Tayfun. The global law firm Ashurst LLP acted as English counsel to bp. Partner
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 of electricity
Directive (EU) 2022/2464 on corporate sustainability reporting (the “CSRD”) was adopted at the end of 2022 and entered into force in January 2023, with a transposition deadline of 6 July 2024. The Czech Republic has opted for a phased-in transposition process in two stages corresponding to the implementation timeframe under the CSRD: This first phase, carried out as a minimum transposition, is already underway, namely in the context of the draft legislation on the consolidation of public budgets (the “Consolidation Package”). The Consolidation Package, among other legislative measures, introduces legislative provisions on sustainability reporting, to the extent corresponding to the first phase of reporting
Kinstellar is delighted to announce further hires: the additions of Corina Stanciu (Senior Associate) and Cristiana Mic-Soare (Special Counsel) to the Bucharest office’s real estate service line, thus even further strengthening the firm’s market-leading expertise in real estate and related sectors. Corina Stanciu joined the team as a Senior Associate. She has years of experience: she has assisted real estate investors and developers on real estate transactions, project development and construction permitting, covering the full range of business sectors: commercial / retail, office, industrial, logistics, residential, agriculture, renewable energy. She advised on day-to-day real estate, construction, regulatory
Kinstellar, together with Skadden, Arps, Slate, Meagher & Flom as the lead counsel, has successfully advised Miami-based I Squared Capital, a leading global infrastructure investment manager, on the multi-jurisdictional acquisition of the entire Arriva Group, an international transport business of Deutsche Bahn. The sale is expected to close in 2024. Kinstellar delivered a comprehensive range of legal services. This included conducting due diligence and offering regulatory advice that spanned multiple Central and Eastern European (CEE) countries. Kinstellar also provided transactional advice, with a specific focus on local law requirements arising in connection with the negotiation of the SPA and completion of the
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