A new Regulation on Active Cooperation for Detecting Cartels (“Regulation”) in Turkey entered into force on 16 December 2023. The Turkish Competition Authority (“TCA”) also held a helpful webinar on the topic, highlighting the differences between the old and new regulation. In this article, we highlight two changes that we consider to be the most important: (i) applicants are now required to submit documents that contribute added value; and (ii) applications from cartel facilitators are now explicitly welcomed. Lastly, we present an overview of the conditions for full immunity and for reductions in administrative monetary fines.

Kinstellar, working with Linklaters' Madrid office, has advised a consortium of lenders on their EUR 800 million financing for AmRest. Uria Menendez reportedly advised AmRest.

Kinstellar has advised the Genesis Private Equity Fund III on the sale of Sanborn to the Oriens industrial group. GT Legal advised Oriens.

It was another strong year for the leading law firms in Central and Eastern Europe, which, combined, worked on over a thousand deals and other client matters across the region reported on by CEE Legal Matters this year. According to the Activity Rankings function of the CEELMDirect website, Clifford Chance, which worked on an impressive 95 CEELM-reported CEE client matters in 2023, led the international firms in the region, with Schoenherr, which worked on 90, close behind. Dentons (82), CMS (71), Wolf Theiss (65), Cobalt (66), Kinstellar (50), White & Case (45), and Allen & Overy (42) took notable places on the leaderboard as well.

PRK Partners has advised Bezvavlasy on the acquisition of the Hair Servis group. Kinstellar advised the sellers.

Norton Rose Fulbright has advised Inter Cars on the extension, increase, and reorganization of its senior facilities in the aggregate amount of approximately PLN 2.54 billion (USD 642 million). Kinstellar, Magnusson, Kelemenis, and Glimstedt reportedly advised on the matter as well.

Allen & Overy has advised CMC Europe on the sale of a 100-megawatt combined capacity solar plant in Kaposvar, Hungary to MVM Green Generation. Reportedly, Kinstellar advised MVM Green Generation.

Cytowski & Partners and Svoboda Koubkova have advised UltimateSuite on its sale to Service Now. Kinstellar, working with Covington & Burling, advised Service Now.

Kinstellar Partner Balazs Sepsey has been appointed the new Office Managing Partner of the firm’s Budapest Office. Sepsey is taking over from Kristof Ferenczi, who has recently been appointed Kinstellar’s Firm Managing Partner (as reported by CEE Legal Matters on December 8, 2023).

Kinstellar and Kavcic Bracun & Partners have advised Slovenia's Nova Ljubljanska Banka banking group on the acquisition of SLS Holdco and its subsidiaries from funds managed by affiliates of Apollo Global Management and the European Bank for Reconstruction and Development. 

A little over one year since Romania’s new foreign direct investment (“FDI”) screening regime became fully operational, the Romanian government passed an emergency ordinance meant to further clarify particular aspects under the law (such as the scope of the screening regime, which is further extended) or to translate into law the lessons learnt or the authorities’ reading of the rules since applying the new FDI law.

Kinstellar has announced that  Budapest's Kristof Ferenczi has been appointed as the new Firm Managing Partner, succeeding Patrik Bolf in that position.

Kinstellar has advised S Immo on the sale of its Eurocenter office building in Zagreb – with an asset value of EUR 26.5 million – to Atlantic Grupa.

Amendments to Law of Ukraine “On Advertising” No. 270/96-ВР of 3 July 1996 (the “Advertising Law”) have recently come into force. The amendments update obsolete regulations on advertising in Ukraine, thus ensuring advertising standards correspond to current technological developments.

Kinstellar has advised Chinese investors CMC Capital and Shanghai Electric Power & Energy Development Limited on the acquisition of Crni Vrh Power, a project company developing a 150-megawatt onshore wind farm in the eastern Serbian municipalities of Bor, Zagubica, and Majdanpek.

Clifford Chance has advised Ceska Sporitelna on the financing for the acquisition of Sanborn by Czech Machining Holding, a direct subsidiary of the Oriens Fund III SCSp.

Kinstellar has advised Siemens Mobility on its acquisition of Slovak railway security solutions company HMH. Havel & Partners reportedly advised the seller.

Kinstellar has advised S Immo on its acquisition of a property portfolio in the Czech Republic, valued at EUR 481 million, from the CPI Property Group.