- Home
- News & Insights
Search by
Latest
Kinstellar advises Special Flanges on the acquisition of Romanian industrial manufacturer Vilmar
Kinstellar is pleased to announce that it has advised Special Flanges, a leading Italian manufacturer of high-performance forged components, on the acquisition of 100% of the shares in Vilmar, a Romanian industrial company with over 50 years of experience in the production of engineered equipment for critical applications. The transaction marks Special Flanges’ first direct investment in Romania and represents a key milestone in the group’s strategic expansion across Central and Eastern Europe. The acquisition was carried out by the Wise Equity V fund managed by Wise Equity SGR – through its subsidiary Special Flanges – and involved the transfer of Vilmar from the French group Genoyer. The integration will create
European Court of Justice reviews directors’ liability for cartel fines
Cartel fines, which can amount up to 10% of a company’s global group turnover, represent one of the most significant enforcement instruments in European competition law. With both the frequency and the magnitude of such cartel fines on the rise, companies are increasingly exploring the possibility of seeking recourse from managing directors. The admissibility of such damage claims is currently subject of preliminary ruling proceedings before the European Court of Justice (“ECJ”). 1. Facts of the case The Cartel Senate of the German Supreme Court (“BGH”, case no. KZR 74/23) referred a case to the ECJ involving a former managing director of a German limited liability company who simultaneously served as
Ukraine competition law update: Key developments Q2 2025
In a key ruling, Ukraine’s Supreme Court has upheld a previously overturned conditional merger clearance by the Antimonopoly Committee of Ukraine (AMC) concerning two major Ukraine-based cement producers, namely CRH Ukraine and Dyckerhoff Cement Ukraine. Back in September 2024, the Commercial Court of Kyiv annulled a conditional merger clearance issued by the AMC for the CRH-Dyckerhoff transaction. Approved earlier that same month[1], with stipulated obligations related to production levels and fair market access, the merger clearance soon faced a legal challenge from competitor Kovalska, leading to months of litigation. Kovalska alleged that the AMC’s Phase II investigation lacked an adequate competitive analysis, particularly
Kinstellar’s Regional Competition Law Update: Mid-Year Insights 2025
We are pleased to share this mid-year update to Kinstellar’s Regional 2025 Competition Review and 2026 Outlook. This document provides a snapshot of the latest competition law developments in Austria, Bulgaria, Romania, Serbia, and Turkey, covering key enforcement actions, legislative updates, and regulatory trends observed in the first half of 2025.As always, our aim is to keep clients and partners informed and equipped to respond to ongoing changes in the regulatory landscape.We hope you find this update useful and welcome the opportunity to discuss its implications for your business. Read more in our brochure below: DO WNLOAD BROCHURE
European Commission publishes first in-depth decision on the Foreign Subsidy Regulation in e&/PPF
On 4 April 2025, the European Commission issued its long-awaited decision regarding the e&/PPF case, following an in-depth Phase II investigation that ultimately led to the adoption of commitments. The transaction concerns the 50%-plus-one-share acquisition by Emirates Telecommunications Group Company P.J.S.C. (“e&”) of PPF Telecom Group B.V.’s (“PPF Telecom”) telecommunication network and infrastructure businesses in Slovakia, Hungary, Bulgaria, and Serbia. The decision addresses key elements such as the concept of foreign subsidies and the distortion of competition, offering valuable guidance on how the Commission approaches merger reviews under the Foreign Subsidies Regulation (“FSR”). The decision
Franchising Law Handbook
We are pleased to release our Franchising Law Handbook—a comprehensive guide developed by Kinstellar’s team of IP and competition law experts across our jurisdictions. The initiative was led by Partner Natalia Kirichenko to support businesses navigating the increasingly complex and fast-evolving legislation in this field. According to the US Department of Commerce, franchising contributes around USD 2.3 trillion to the global economy annually, making it a powerful model for business expansion across various sectors. This Handbook brings together the expertise of our lawyers across multiple jurisdictions, offering practical insights into key legal frameworks and regulatory requirements. It is designed to serve as
Category Management Agreements: Belgian Competition Authority issues landmark decision in cartel case involving anti-competitive arrangements for the placement of OTC medicines in pharmacies
On 24 April 2025, the Belgian Competition Authority (“BCA”) announced that it had imposed fines totalling EUR 11.2 million on pharmaceutical companies Johnson & Johnson, Boehringer Ingelheim, and Haleon. The sanctions were issued following a settlement in a case concerning anti-competitive practices linked to category management agreements for over-the-counter (“OTC”) medicines. According to the European Commission Guidelines on Vertical Restraints, category management agreements are agreements whereby a distributor delegates to a supplier (the so-called “category captain”) the responsibility for marketing an entire category of products. While such agreements are generally considered unproblematic, the Guidelines
Dive into the latest competition law updates in Romania
In the first quarter of 2025, the Romanian Competition Council (“RCC”) published several significant decisions, launched new investigations, and imposed fines in cases involving abuse of dominant position, price coordination, and other anticompetitive practices. 1. New FDI Guidelines In February the RCC published the draft FDI guidelines (the “Guidelines”), which were up for public consultation until mid-March. The Guidelines aim to clarify the method for the calculation of the investment value in different types of transactions, such as share deals, share capital contributions, multi-jurisdictional transactions, or in case of a loan or financing by an investor. Furthermore, the Guidelines clarify
Harald Strahberger, a leading regulatory lawyer, joins Kinstellar as Partner in Vienna
Kinstellar is delighted to announce that Harald Strahberger has joined our newly launched Vienna office as a Partner. His addition strengthens our public law and regulatory capabilities, further enhancing the firm’s expertise in Austria and across the wider Central and Eastern European region. With extensive experience advising national and international clients across all aspects of public law, Harald specialises in environmental law (including facility, waste, and water regulations), energy law, trade law, data protection, and state aid law. He also has a strong background representing clients in administrative proceedings and before Administrative Courts, the Supreme Administrative Court, the Austrian Constitutional
Food prices in Bulgaria: Businesses to remain vigilant even after the competition authority finds no anti-competitive agreements between supermarkets
In a decision that will shape the competitive landscape of the Bulgarian food market, the Bulgarian Commission for Protection of Competition (“CPC”) concluded that there is no evidence of anti-competitive agreements between the major supermarket chains regarding food prices. Background and investigation The CPC initiated an investigation in response to the significant increase in retail prices of basic food commodities observed since early 2022 and the first months of 2023. The competition authority aimed to identify any practices restricting competition, such as: covert agreements, collusion, or concerted actions among retailers. While much of the data in the CPC’s decision remains confidential
Kinstellar's Regional 2024 Competition Review and 2025 Outlook: Key insights and trends
We are excited to release the first edition of Kinstellar's Regional 2024 Competition Review and 2025 Outlook: Key insights and trends. This report provides an overview of the latest developments in competition law across our jurisdictions, highlighting key regulatory updates, enforcement trends, major fines, merger control decisions, foreign direct investment (FDI) screening developments, and upcoming legislative changes, among others. Competition authorities across the region—Bulgaria, Croatia, Czech Republic, Hungary, Kazakhstan, Romania, Serbia, Slovakia, Turkey, Ukraine, and Uzbekistan—are intensifying their scrutiny of anti-competitive practices, strengthening enforcement efforts, and refining national competition
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