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Kinstellar advises China Southern Power Grid International on the acquisition of a non-controlling stake in ACWA Power’s two wind farm projects in Uzbekistan
Kinstellar is delighted to announce that we have successfully advised China Southern Power Grid International on its acquisition of a 35% stake in ACWA Power Bash Wind Project Holding Company Limited and ACWA Power Uzbekistan Wind Project Holding Company holding 100% in Bash and Dzhankeldy Uzbek project companies, respectively. The projects represent a combined 1 GW capacity and over USD 1.3 billion of investments. This transaction marks the first acquisition of large-scale renewable energy projects in Uzbekistan. Each of Bash and Dzhankeldy wind farm plants is developed based on a ‘Build, Own, Operate, Transfer’ model and consists of 79 wind turbines (158 turbines in total) that will generate 3,235 gigawatt-hours
Kinstellar assists Globalworth again on a logistics portfolio sale in Romania
Kinstellar is delighted to announce that it has again successfully advised Globalworth, an AIM-listed, leading office investor in Poland and Romania, on the sale of a logistics portfolio in Romania, to the buyer WDP. The transaction closed in July 2024, being one of the largest logistics transactions in Romania to date in 2024. The portfolio sold to WDP was a joint venture with Global Vision, and includes sizeable lettable logistics and industrial facilities as well as land bank in Chitila, Constanta and Targu Mures. This transaction follows on the heels of Globalworth’s sale of another logistics portfolio to CTP earlier this year in May. Kinstellar provided comprehensive support on all aspects of the transaction.
Kinstellar advises Strickland Metals in major gold mining acquisition in Serbia
SOG in cooperation with Kinstellar is proud to announce its role as legal counsel to Strickland Metals Limited, an ASX-listed mineral exploration company from Australia, on its acquisition of Zlatna Reka Resources d.o.o. Beograd-Vracar. This acquisition marks a significant development in Serbia’s burgeoning mining industry, as the project holds an impressive 5.4 million ounce gold resource. Kinstellar’s team, led by Senior Associates Sara Ostojić and Mario Kijanović, as well as Associate Vuk Vučković, provided comprehensive legal services for this acquisition. Our involvement included a thorough legal due diligence of the mining titles, permits, and accompanying documentation of the target company. Zlatna
Kinstellar advises Genesis Capital on the acquisition of recruitment agency Předvýběr.CZ
Kinstellar’s Prague office has successfully advised Genesis Growth Equity Fund I, part of the established private equity group Genesis Capital, on the acquisition of a majority stake in Předvýběr.CZ. Genesis Growth Equity Fund I (GGEF I), a private equity fund focused on growth investments in small and medium-sized enterprises operating mainly in the Czech Republic and Slovakia, partnered with the founding owners, František Boudný and Vladimír Kočí, who will retain a significant minority share and remain actively involved in the company's management. Předvýběr.CZ, founded in 2008 and based in Prague, specialises in the time-consuming aspects of candidate recruitment for mid-level and lower-level positions.
Kinstellar and KST Law advise Grupo Antolin on the sale of a stake in the Turkish joint venture Ototrim
Kinstellar and KST Law* are proud to have advised Grupo Antolin, a leading global car interior manufacturer, on the sale of 45% stake in the Turkish joint venture Ototrim to its JV partner Diniz Holding. Following this transaction, Antolin will retain a 5% stake in the joint venture and continue its collaboration with Diniz Holding. The transaction is pending approval from the Turkish Competition Authority. The team was led by Partner Mert Elçin, with support from Associates Sila Özge Sayli and Osman Tugberk Çakirca. *Kinstellar operates in Turkey in cooperation with KST LAW, an Istanbul-based full service corporate law firm.
Kinstellar advises Agrotex majority shareholders on the sale of a significant stake to Promat Comimpex
Kinstellar is proud to have advised the majority shareholders of Agrotex (one of the most important suppliers of cereals and agricultural inputs on the local market) on the sale of a significant stake to Promat Comimpex, a renowned agriculture player now controlled by the Ameropa Group. The deal will complete after the necessary consents and approvals have been obtained. Our assistance on this mandate was coordinated by Zsuzsa Csiki (Partner, Head of Corporate M&A in Romania) together with Mădălina Perte (Managing Associate) and involved a very talented and resilient team: Claudia Popescu (Special Counsel) and Ioana Popescu (Associate). Kinstellar Romania has emerged as a premier legal advisor in
Kinstellar announces New Office Managing Partners in Bratislava and Prague, Adam Hodoň appointed as COO
Kinstellar is delighted to announce the appointment of new managing partners for our Bratislava and Prague offices, and of a new Chief Operating Officer (COO) effective 1 July 2024. Viliam Myšička is the new Managing Partner of the Bratislava Office, succeeding Adam Hodoň. Adam has been appointed as the Firm’s COO. Viliam has been with Kinstellar since its inception and was previously with Linklaters. He leads the M&A service line in Slovakia and serves as the head of the firm-wide Restructuring & Insolvency service line, as well as the co-head of the firm-wide Technology, Media & Telecommunications (TMT) sector. Viliam brings nearly 20 years of professional experience, advising clients across a wide range
Expanding opportunities for retail investors in Kazakhstan: AIFC's influence on the new legislative framework
According to the official website of the Government of Kazakhstan, the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market is working on a new legislative proposal with the goal of broadening the participation of retail investors in collective investment schemes (the "CIS") across Kazakhstan. Currently, the CIS retail business is mainly possible within the Astana International Financial Centre (AIFC). While this could be seen as competition with the AIFC, in the long term, the adoption of such a law will help create a solid platform for the development of funds not only within the AIFC but also throughout Kazakhstan. In these proposed innovations, we see the influence of the flexible
Minority shareholder protection in the AIFC, Kazakhstan
In private companies limited by shares, the most popular form of company established in the Astana International Financial Center ("AIFC") shareholders range from those with majority ownership stakes (i.e. greater than 50%) to those with smaller holdings. The latter, known as minority shareholders, often face challenges due to their limited ability to influence business decisions. Our expertise lies in safeguarding the rights of minority shareholders, offering advice on protection strategies and negotiation tactics to ensure fair outcomes in disputes involving misconduct by directors or controlling shareholders. After five years of closely monitoring the AIFC legislation and practicing corporate law within the AIFC, we believe
First in-depth M&A investigation under the EU Foreign Subsidies Regulation: What it means for future M&A deals
The EU Foreign Subsidies Regulation (“FSR”) started to apply on 12 July 2023 as another instrument in the EU regulatory toolkit aimed at preventing distortions of competition on the EU internal market. In the spotlight of the framework are foreign subsidies granted to companies carrying out economic activities within the EU in the context of (i) M&A transactions, (ii) public procurement and (iii) other market activities. Foreign subsidies are all financial contributions provided, directly or indirectly, by non-EU countries, including any transfer of financial resources from non-EU countries such as grants, capital injections, loans, tax incentives, credits and funds. In the context of M&A, the FSR imposes
Kinstellar advises Vinci Airports on the strategic EUR 3.1 billion+ acquisition of a minority interest in Budapest Liszt Ferenc International Airport
Kinstellar is proud to have advised Vinci Airports, one of the world’s leading private airport operators, on the strategic acquisition of a minority interest in the group managing the Budapest Liszt Ferenc International Airport. The majority investment in the transaction was carried out by Hungarian state-controlled Corvinus Zrt., a joint venture partner of Vinci Airports. As a result of this acquisition, with a total purchase price of EUR 3.1 billion plus net debt of EUR 1.2 billion, Vinci Airports becomes the operator of the Budapest airport hub. This transaction is one of the highest profile acquisitions in Hungary, with a record-breaking deal value. It was a highly complex and challenging transaction, entailing intense
Kinstellar advises MOL in connection with their landmark Polyol Project in Hungary – MOL’s largest organic investment to date
Kinstellar is proud to have advised the MOL Group, a leading international integrated oil and gas company, in connection with legal aspects of the MOL Group’s flagship EUR 1.3 billion new polyol complex in Tiszaújváros, Hungary. The new polyol complex, which has just been inaugurated, has the capacity of producing around 200,000 tonnes of polyol per year, and providing long-term employment for nearly 300 people. This landmark project had started in 2017 and Kinstellar has been assisting MOL in connection with the project from 2020. As a result of this project MOL has become the first company in the CEE region to have a fully-integrated value chain from crude oil to polyol production. The Kinstellar team