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Kinstellar advises Halyk Bank on strategic cross-border fintech partnership with Click
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
Kinstellar takes part in the ‘Brave Ukraine’ fundraising event organised by the Ukrainian Embassy in London
Kinstellar is honoured to have taken part in the ‘Brave Ukraine’ event organised by the Ukrainian Embassy in London on 12 May 2022. We were represented by Jason Mogg, Senior Partner, and Daniel Bilak, Chairman of the Management Committee of the firm’s Ukraine office. Thanks to generous donations, the event raised desperately needed funds to re-equip the Western Ukrainian Specialised Children's Medical Centre, which has become a hub for seriously ill children from across Ukraine displaced by the war. Through the fundraising platform www.withukraine.org established by the Embassy of Ukraine in the UK, almost £30 million have been raised to provide food packs, medical supplies, generators, armoured ambulances
UK and Czech Republic: anti-bribery laws compared
The UK Bribery Act 2010 came into force on 1 July 2011, creating for businesses operating in the UK the most stringent and far reaching anti-bribery legal regime in the world. In particular, it imposed strict criminal liability on corporates that fail to prevent bribery. On the other hand, UK companies may be able to avoid prosecution by being invited to agree a "Deferred Prosecution Agreement" (DPA) with the Serious Fraud Office (SFO). A DPA requires civil court approval which will only be provided if the company can demonstrate that it has, amongst other things, provided the SFO with full co-operation in relation to the matter. No equivalent legislation currently exists in the Czech Republic. Instead, anti-bribery
Helping beyond our borders
Kinstellar Sofia Office initiated and co-organised a fundraising event for our community investment partner Teach for Bulgaria which was held on 10 May in London. The fact that London falls outside of Kinstellar’s regional coverage was no obstacle to helping Teach for Bulgaria reach out to the Bulgarian diaspora living there, reconnect to old collaborators, win new supporters and raise some funds. The event gathered professionals from international law firms, banks, financial institutions and other corporations in the London City. They were all impressed by the inspirational presentation from Teach for Bulgaria’s CEO Evgenia Peeva, who talked about the challenges and opportunities for education in Bulgaria and how important