A rather busy M&A market in the Czech Republic – with the IT, industrial, and energy sectors spearheading economic bustle – will soon face important legislative updates regarding the tax system and labor regulations, according to Kinstellar Partner Karla Rundtova.
Kinstellar has advised S IMMO on its acquisition of three office buildings and a hotel in the Czech Republic – valued at EUR 167.7 million – from the CPI Property Group.
April 2023 – On 12 April 2023, the Turkish Competition Authority (“Authority”) announced that it initiated a sector inquiry into mobile ecosystems. The sector inquiry aims to identify the possible competitive and anti-competitive effects caused by mobile ecosystems, develop effective policies based on them, and ultimately establish a competitive market in the digital economy.
Seven Kinstellar lawyers have been promoted to Partner: Bratislava-based Tomas Melisek, Budapest-based Levente Hegedus, Istanbul-based Bulut Girgin, and Kyiv-based Anastasiya Bolkhovitinova, Natalia Kirichenko, Oleg Matiusha, and Illya Muchnyk.
Kinstellar has advised Cura Vermoegensverwaltung on its exit from the Arkady Pankrac-ownership joint venture with G City Europe. Clifford Chance reportedly advised G City Europe.
The Ministry of Commerce of the Republic of Serbia has announced that the applications regarding the incorporation of companies (among others, limited liability companies and joint stock companies) can be submitted only in electronic form as of 18 May 2023 via a designated user application of the Serbian Business Registers Agency (“SBRA”).
Kinstellar, working with Advant NCTM, has advised the Italian owner on the sale of Hotel Sovereign in Prague.
The SOG Law Firm has advised PowerChina Resources on its acquisition of a 51% stake in the Vetrozelena wind farm project from CWP Europe. Moravcevic Vojnovic and Partners in cooperation with Schoenherr reportedly advised the seller.
Kinstellar and ODI Law, working with Morgan Lewis London, have advised TAWAL on its bid to acquire the Bulgarian, Croatian, and Slovenian tower assets of the United Group for EUR 1.2 billion. Jadek and Pensa and Bradvica, Maric, Wahl, Cesarec advised the United Group. Paul Weiss and Kambourov and Partners reportedly advised United as well.
The SOG Law Firm, working with DLA Piper’s office in France, has advised the Renault Group on the divestment program for its import and distribution subsidiaries in six jurisdictions. Wolf Theiss reportedly advised the Emil Frey Group on acquiring the operations. Sabev & Partners reportedly advised the Renault Group as well.
April 2023 – An amendment to Act no. 283/2021, Building Act (the “New Building Act”) has been approved by the Chamber of Deputies, bringing key changes to Czech construction laws and permitting processes (the “New Amendment”). The New Amendment has been passed to the Senate, which should approve it shortly. The original New Building Act, representing a major change of Czech building regulations, was adopted back in July 2021.
On the evening of April 25, 2023, the Deal of the Year Awards Banquet brought together, under the same roof, top-tier lawyers from Central and Eastern Europe's leading law firms and ILFs active in the region in Istanbul.
Mediation as a way of resolving disputes between parties has existed for a long time now. However, not many have been willing to take part in the mediation process and use this way of resolving disputes, whose main purpose is to achieve a solution acceptable to both parties. It seems that long-lasting court proceedings and often expensive arbitration processes have shed light on a more amicable, faster, and more economical way of resolving disputes – mediation.