The Legal 500

Boyanov & Co’s ‘thorough and detail-oriented’ team pairs ‘knowledge of the law’ with an ability to provide ‘clear solutions’. It advised the Bulgarian government on the €110m privatisation of Bulgartabac, the largest Bulgarian cigarettes and tobacco manufacturer; Citi VCI on its €80m purchase of a stake in Huvepharma; Lidl on the acquisition of its competitor, Plus, in Bulgaria; and Allied Irish Banks on the disposal of its participation in Bulgarian American Commercial Bank. Practice head Yordan Naydenov is ‘a real expert’, and Damian Simeonov is also recommended.

CMS Cameron McKenna LLP – Bulgaria Branch’s ‘first-class’ team advised CVCI and NBGI on their acquisition of 90% of the share capital of Prestige 96, a leading confectionery producer. It also advised MRSK Holding on the potential acquisition of E.ON’s assets in Bulgaria. David Butts and practice head Atanas Bangachev are recommended.

Djingov, Gouginski, Kyutchukov & Velichkov is recommended for its ‘business-oriented approach’, and has ‘excellent in-depth knowledge of the Bulgarian legal framework’. It advised Verint Systems on the $24m acquisition of Focal Info and acted for Paddy Power on the acquisition of CT Networks (Cayetano Technologies), an e-gaming developer based in Bulgaria. The key individuals in this ‘experienced’ team are the ‘energetic and dedicated’ Zdravka Ugrinova, the ‘knowledgeable’ Violetta Kunze, and Omourtag Petkov, who is ‘always very responsive’.

Penev LLP’s ‘responsive’ and ‘client-oriented’ group consistently provides ‘straight-to-the-point’ advice. It is advising Turkcell Iletisim Hizmetleri in a $1bn restructuring deal for the acquisition of the Bulgarian mobile operator Vivacom. It also advised on the merger between Alpha Bank and EFG Eurobank in Bulgaria to create an entity with assets worth $212bn, and assisted Garanti Koza, a prominent Turkish land development company, with its entry into the Bulgarian market. ‘Reliable’ practice head Sergey Penev and senior associate Christopher Christov are recommended.

Penkov, Markov & Partners advised TBI Financial Services on its acquisition of TBI Bank; Booking.com on the establishment of a limited liability company; and SAP Labs Bulgaria on its acquisition of the entire shareholding of TechniData Labs. Managing partner Vladimir Penkov and Ivan Markov are recommended.

Headline work for Spasov & Bratanov’s ‘first-class’ corporate and M&A team included acting for Energo-Pro during its acquisition of the electricity distribution, supply and trading businesses of E.ON Energie, and advising Nova Broadcasting Group on the potential acquisition of the Bulgarian broadcasting business of Communicorp. The team also advised Mitsubishi Corporation on its acquisition of Alfa Energy. Clients single out Georgi Spasov for praise.

Andonov & Radinska Law Firm advised Clairvue Capital Partners on the Bulgarian part of an international loan portfolio acquisition deal. New clients include Eleven Accelerator Venture Fund, a venture capital fund that provides staged start-up financing in exchange for equity in Bulgarian companies. Hristo Andonov and Diliana Radinska are recommended.

Andrey Delchev and Partners – Eurolex Bulgaria advised Ficosota Syntez on its acquisition of Ital Foods, and acted for Asarel Medet on its acquisition of 100% of the shares of Trace Resources from Omax International. Other clients include Soufflet Group and Kalvacha Group. The ‘brilliant and bright’ Andrey Delchev heads the team.

Key mandates for Borissov & Partners included advising Domino’s Pizza on franchising matters in Bulgaria, representing Vitogaz France in relation to the sale of its gas business in Bulgaria, and advising Deutsche Telekom on corporate matters pertaining to its Bulgarian subsidiary. The ‘excellent’ managing partner Plamen Borissov, Radoslav Alexandrov and Dimitar Pelov are recommended.

Dimitrov, Petrov & Co’s ‘very reliable’ team is valued for its ability to ‘keep to deadlines’. Key clients include Higia JSCo, AC Nielsen Bulgaria and Windkraft Simonsfeld. Practice head Bogdan Petrov is ‘excellent’, and Zoya Todorova ‘understands business needs’ and has ‘a pragmatic approach’.

Dinova, Rusev & Partners always ‘looks at things from clients’ points of view’, and has ‘exceptional experience’. It advised Assos Capital on various corporate issues relating to the exploitation of a shopping mall in Bulgaria, and assisted Isbank with issues relating to its establishment in Bulgaria. Other clients include Sofia Hotel Balkan and S&B Industrial Minerals. Milen Rusev and practice head Anelia Dinova are recommended.

Georgiev, Todorov & Co’s ‘enthusiastic’ and ‘knowledgeable’ practice advised Winslow Group on a €10m deal relating to strategic investments in Bulgarian agriculture, and acted for publishing house and software developer Ciela regarding its acquisition of Norma and the resulting merger of the two entities. Alexander Katzarsky and Arno Mamassian are recommended.

The ‘incredibly efficient’ team at Kambourov & Partners provides clients with a ‘superb level of service’. Headline work included advising Bulgarian Energy Holding on the restructuring of the Bulgarian energy sector. It also advised E.ON (Dusseldorf) on the sale of shares in E.ON Energie (Germany), E.ON Bulgaria and its other subsidiaries in Bulgaria. The ‘experienced’ Mitko Karushkov and senior associate Veronika Hadjieva are recommended.

Alexandra Doytchinova’s ‘very responsive’ team at Schoenherr (in cooperation with Law firm Andreev, Stoyanov and Tsekova) is ‘excellent at keeping to deadlines’. It advised VTB Capital on the €100m acquisition of a controlling stake in Bulgartabac, and acted for Pro7Sat.1 on the sale of the group’s entire Bulgarian portfolio of radio stations to a Bulgarian investor. Key clients include Siemens and Integrated Micro-Electronics. Ilko Stoyanov has ‘a suitable, commercial approach’, and is ‘well informed’.

Tsvetkova Bebov & Partners, Attorneys-at-Law advised Vienna Insurance Group on the merger of its two Bulgarian non-life insurance subsidiaries, Bulstrad and Bulgarski Imoti, and also advised Navi Group on the restructuring of its local business. Practice head Venelin Dimitrov, Nikolay Bebov and Galina Bunkova are recommended.

The ‘exceptional’ team at Wolf Theiss ‘consistently provides a distinctive combination of business skills and technical industry knowledge’, and ‘promptly and proficiently gives competent, reliable and effective advice’. Clients include Sensata Technologies, Bancroft Group, Gramercy Emerging Markets Fund, GE Capital Real Estate, and UniCredit Leasing. Practice head Richard Clegg and Anna Rizova provide ‘strong, practical and proactive’ support.

Arsov Natchev Ganeva advised Veolia Water regarding its controlling stake in Sofiyska Voda, and advised ICGB and its shareholders (Bulgarian Energy Holding, Edison International Holding and DEPA) on the construction and operation of a natural gas pipeline connection between Bulgaria and Greece. New clients include Bricolage. Marin Arsov and Jivko Rokov head the practice.

Atanassov & Ivanov Law Firm acted for the Balkan Accession Fund on the sale of its ice cream distribution business to Unilever South Central Europe. Iliyan Ivanov and Stoyan Atanassov are recommended.

Boteva & Kantutis acted on the corporate restructuring of INC Research Branches, and also advises corporate clients such as CHS Agritrade Bulgaria, Bulgaria Connect and Airgo Bulgaria. Nina Boteva is the key contact.

Delchev & Partners advised the Bulgarian subsidiary of Hellenic Petroleum on cross-border restructuring, and also acted for key clients such as L’Oréal Bulgaria and HL Display. Emil Delchev is recommended.

Dobrev, Kinkin & Lyutskanov’s ‘excellent’ team advised Bulgaria Engineering on a project to build three hydropower plants. It also advises clients such as Steni and PVB Group. Vladimir Kinkin heads the team.

Gugushev & Partners Law Office provides ‘supreme, quality service’ and has ‘excellent knowledge in the business sector’. It advised Alpiq Eco Power (Switzerland) on the merger of its Bulgarian subsidiaries operating in the renewable energy sector, and also acted for clients such as Hareon Solar Technology and Markan. Managing partner Stefan Gugushev is ‘a real star’.

Managing partner Neil McGregor and Julian Spassov are singled out at McGregor & Partners, which has offices in Romania and Bulgaria.

Antoaneta Dimolarova, Rozalina Gradinarova and Partners – Attorneys at Law is recommended for its corporate and commercial expertise.

BWSP Ilieva, Voutcheva & Co Law Firm’s ‘dedicated’ team advised City Property on the sale, restructuring and development of several renewable energy projects. Other clients include Antenna Group and BICA Investments. Diliana Ilieva and Rossitsa Voutcheva are recommended.

CHSH Cerha Hempel Spiegelfeld Hlawati’s ‘excellent’ team acts for clients including Hewlett-Packard, Euralis Semena and Knauf Bulgaria. Managing partner Boyko Guerginov is recommended.

CMS Reich-Rohrwig Hainz in cooperation with Pavlov and Partners Law Firm recently advised Gilat on corporate issues relating to the change in management at its Bulgarian subsidiary; and Investkredit Bank on the corporate restructuring of the borrowers of facilities for two real estate projects. Gentscho Pavlov is recommended.

DTT (Dimitrov, Tchompalov & Todorova) provides clients with ‘detailed, accurate and timely’ advice. It advised on a number of corporate matters including the establishment and licensing of a Bulgarian asset management firm.

Danailov, Mihaleva, Nedelchev & Co/Lex Locus is recommended for its corporate expertise, and has acted for clients such as Rosslyn Capital.

Dyulgerova & Penkova Law Firm’s team shows ‘excellent industry knowledge’ and ‘brilliant business acumen’. It advised Acentis Business Solutions on the acquisition of two Bulgarian energy companies. Other clients include Rex Consulting UK, Retail Dynamics 1, and Piccadilly and Regent Street Enterprise. Department head Victoria Penkova is ‘very experienced’.

Peterka & Partners Law Firm, which has ‘an excellent reputation’, provides ongoing advice to clients such as Pentax Medical Bulgaria and Plaan & Premier Power. Martin Vacek is recommended.

Popov & Partners’ responsive team advised Mramor Park on the implementation of a capital increase project and acted for Gild Arbitrage Fund Management on the corporate restructuring of Bulgarian companies under its control. Galin Popov is recommended.

Sabev & Partners Law Firm advised the Ministry of Justice on a project to improve the transparency and efficiency of bankruptcy proceedings. It is experienced in advising Bulgarian clients and Bulgarian subsidiaries of foreign companies on a range of corporate issues. George Sabev, Assen Alexiev and Boryana Boteva are the key contacts.

Ivana Bliznakova heads the team at Tocheva & Mandazhieva Law Office, which recently advised on the incorporation and licensing of a payment institution in Bulgaria. It is also advising on the capital increase and capital restructuring of a Tishman International SPV in Bulgaria.

Tokushev and Partners Law Office has experience in advising large public companies, and Viktor Tokushev and Ivan Antov are recommended.