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Articles contributed by Sabev & Partners Law Firm
Legislative framework 2010
What is the relevant legislation and who enforces it? The main Bulgarian law regulating public procurement matters is the Public Procurement Act (PPA), in force as of 1 October 2004 adopted by the Bulgarian Parliament (promulgated in the official Bulgarian State Gazette, issue 28 of 2004, as amended from time to time).
Mergers and Acquisitions 2010/11
Please give a brief overview of the public M&A market in your jurisdiction. (Has it been active? What were the big deals over the past year? Please distinguish between trade buyers and private equity backed deals.)
Mergers and Acquisitions 2009/10: Bulgaria
The Bulgarian public M&A market remains underdeveloped. The key reasons for this are the insufficient development of the securities market itself and the insignificant free float of public companies on the stock exchange (about 22% of the equity, on average). The limited free float means low market liquidity and makes it virtually impossible to accumulate considerable holdings in a company through offers to minority shareholders.
Public Procurement 2009: Bulgaria
The main Bulgarian law regulating public procurement matters is the Public Procurement Act (PPA), in force as of 1 October 2004 adopted by the Bulgarian Parliament (promulgated in the official Bulgarian State Gazette, issue 28 of 2004, as amended from time to time).
Mergers and Acquisitions Handbook 2008-2009
Despite the fact that the Bulgarian public M&A market has grown substantially in 2007, it still remains underdeveloped. The key reason for this is the insufficient development of the securities market itself and the insignificant free float of public companies on the Stock Exchange (about 21% of the equity on average). The limited free float entails low market liquidity and the virtual impossibility of accumulating considerable holdings through offers to the minority shareholders.
Public Procurement
An overview of regulation in 40 jurisdictions worldwide