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Kinstellar advises Paprec on the acquisition of an 80% stake in Brantner Green Solutions
Kinstellar has advised Paprec, one of Europe's leading recycling and waste management groups, on its acquisition of an 80% stake in Brantner Green Solutions in a landmark cross-border transaction spanning five European markets: Austria, the Czech Republic, Slovakia, Romania, and Serbia. Headquartered in Austria, Brantner Green Solutions is a major environmental services and waste management operator, with a network of 65 facilities across Austria, Slovakia, the Czech Republic, Romania, and Serbia and annual revenue of more than EUR 320 million. Paprec, headquartered in France, is one of Europe's leading recycling and waste management groups. Upon completion of the transaction, the group will employ approximately
Kinstellar advises on acquisition of market-leading software platform in the Czech Republic and Slovakia
Kinstellar has successfully advised MidEuropa on its acquisition of the Czech Republic’s leading construction software platform from DEK Group, bringing together ÚRS CZ, First information systems and Callida. The platform’s software and proprietary construction data are used daily by contractors, developers, cost estimators and public authorities across the Czech Republic and Slovakia. The transaction is expected to close in the second half of 2026, subject to customary closing conditions. The acquisition represents another strategic investment by MidEuropa in a mission-critical software business benefiting from strong structural growth drivers. The platform supports the full construction project lifecycle
The new EU Anti-Corruption Directive: Preparing your business for a new compliance landscape
July 2026 – Directive (EU) 2026/1021 (the “Directive”) represents the most significant modernization of the European Union's anti-corruption framework in more than two decades. It substantially expands corporate exposure by harmonizing corruption offences, strengthening corporate criminal liability, increasing sanctions, and encouraging more robust compliance programs throughout the European Union. The Directive provides a clear indication of the European Commission's enforcement priorities and establishes the direction of future anti-corruption enforcement throughout the EU. Companies operating in Europe should therefore use the transposition period to assess corruption risks, strengthen governance arrangements, and ensure
Kinstellar advises Conseq Funds on the acquisition of the Kateřinská 40 office property in Prague
Kinstellar has advised Conseq Funds on the acquisition of the Kateřinská 40 office property in Prague 2 from PPF Group, structured as a share deal. The transaction concerns a high-quality multi-tenant office asset in a prime central Prague location, offering a stable income profile and long-term institutional tenants. The transaction was legally complex due to the property's unusual title structure. The building is situated on land used on the basis of long-term easement and leasehold rights granted by third parties and is structurally interconnected with neighbouring properties. This required a detailed review and assessment of the reciprocal rights and obligations relating to the underlying land, neighbouring
Kinstellar advises Lenders on the amendment and extension of AmRest's financing across Romania, the Czech Republic and Hungary
Kinstellar has advised a pool of financing entities composed of Banco Bilbao Vizcaya Argentaria, S.A., BNP Paribas Bank Polska, S.A., Bank Polska Kasa Opieki S.A., Česká Spořitelna, A.S., Coöperatieve Rabobank, U.A., ING Bank Śląski S.A., Powszechna Kasa Oszczędności Bank Polski S.A., Banco Santander, S.A. and Erste Bank Polska, S.A. (the "Lenders"), on the Romanian, Czech and Hungarian law aspects of the amendment and extension of AmRest’s financing, originally entered into in December 2023, with BBVA and ING acting as sustainability coordinators and Banco Santander as agent. The amended arrangement includes an increase of the revolving tranche by up to EUR 100 million to finance the group's working capital needs
Subject to Tax Rule (STTR) is coming: What businesses need to know about the new treaty-based taxing right
Countries have started implementing the OECD’s Subject to Tax Rule (STTR) through the recently signed Multilateral Convention. Unlike the OECD’s Global Anti-Base Erosion (GloBE) Rules, which apply to large multinational groups, the STTR operates through tax treaties and grants source countries an additional taxing right when specific payments between related parties are subject to a tax rate below a minimum threshold. 1. How does the STTR work? The STTR allows the source jurisdiction to impose an additional tax on certain cross-border payments when the relevant item of income is subject to a tax rate below 9% in the jurisdiction where the recipient is resident. In other words, the STTR allows
Kinstellar advises SFS Group on carve-out and sale of its automotive business to Chmela Holding
Kinstellar has successfully advised SFS Group, a Swiss industrial company, on the carve-out of its non-automotive business and the divestment of its automotive business to Chmela Holding. The transaction involved a complex separation of business lines and a coordinated transfer of assets and operations. Our mandate included the full structuring and execution of the carve-out, divestment as well as the negotiation of post-closing supply arrangements in a challenging automotive supply chain environment. Particular focus was placed on ensuring operational continuity, mitigating supply chain disruption risks, and establishing sustainable long-term commercial frameworks between the separated entities. The team was led
Kinstellar advises Aurelia real estate fund on the acquisition of the Trimaran and City Element office buildings in Prague
Kinstellar has successfully advised Aurelia, a Czech retail real estate fund established as part of the Axelor investment group in partnership with Stelar Advisory, on the acquisition and acquisition financing of the Trimaran and City Element office buildings in Prague's Pankrác district. Following the acquisition, the fund's assets under management have approximately doubled to almost EUR 200 million. The two energy-efficient office buildings offer more than 28,000 sqm of leasable area and are fully let to tenants including Cubex, Czech Outdoor and Scott.Weber Workspace. Both buildings hold LEED Platinum certification and PENB category A energy ratings. The transaction value was not disclosed. The transaction was
The "withdrawal button" requirement: Guidance for online traders across Central and Eastern Europe
As of 19 June 2026, EU Directive (EU) 2023/2673 (the “Directive”) requires all traders offering goods or services to consumers through online interfaces to provide a dedicated online withdrawal function, commonly referred to as the “withdrawal button.” This obligation applies across the European Union and enables consumers to withdraw from distance contracts with the same ease and simplicity with which they entered into them, representing a significant step forward in digital consumer protection. Our team of lawyers has prepared a comprehensive overview of the Directive’s transposition status across Kinstellar’s EU jurisdictions. Click here, or the image below, to read the full guide in English.
Kinstellar advises the joint lead managers on MONETA Money Bank’s EUR 150 million additional Tier 1 notes issuance
Kinstellar advised the joint lead managers on MONETA Money Bank’s issuance of EUR 150 million fixed rate reset perpetual Additional Tier 1 temporary write down notes. Linklaters acted as lead English counsel on the transaction. Following the admission of the notes to trading on the regulated market of the Luxembourg Stock Exchange, the transaction marks a significant milestone for the Czech banking sector as it is the first time a Czech bank has issued listed Additional Tier 1 capital instruments in the international capital markets. The Kinstellar Prague team advising on the transaction was led by Jan Juroška (Managing Partner) and Filip Murár (Counsel), and included Martina Březinová (Counsel), Jakub Šťastný
No automatic bar: European Court of Justice prohibits bank account refusals based solely on US sanctions listings (ECJ Case C 81/24)
A credit institution operating lawfully within the EU may not refuse to open a basic payment account for an individual solely on the ground that the person appears on a sanctions list maintained by the US Office of Foreign Assets Control (“OFAC”). Any refusal must be based on an individualised anti-money laundering and counter-terrorist financing ("AML/CFT") risk assessment in accordance with EU law. Legal background Article 16(2) of Directive 2014/92/EU (the "Payment Accounts Directive" or "PAD") confers on every consumer lawfully resident in the EU the right to open and use a basic payment account. This right is universal in scope and is expressly designed to promote financial inclusion across the internal market.
Digital Markets Act vs Big Tech companies in the European Union
In recent years, with the rapid expansion of digital platforms, the European Union has recognised the need to regulate digital markets and platforms supported by Big Tech companies such as Google, Meta, Apple, Amazon and Microsoft. The European Commission (“EC”) launched an initiative in 2020 aimed at the regulation of core platform services and the establishment of a fair and competitive digital market by limiting the dominance of large technology companies, commonly referred to as “gatekeepers”. As a result, the Digital Markets Act (“DMA”) was adopted in 2022. The DMA establishes a set of clearly defined objective criteria for identifying gatekeepers. These are large digital platforms that provide “core