The Legal 500

Twitter Logo Youtube Circle Icon LinkedIn Icon

Wolf Theiss

Work +359 2 861 3700
Fax +359 2 862 0370

Anna Rizova

Work +359 2 86 13 700
Wolf Theiss Rechtsanwalte GmbH & CoKG

Work Department

Corporate/M&A; Competition and Antitrust; Energy; TMT. As Managing Partner for Wolf Theiss in Bulgaria, Anna leads a wide range of complex cross-border M&A transactions, investment projects and market entries for global corporates, with a particular focus on telecoms, outsourcing, energy and pharmaceuticals. Recognised for her considerable expertise in managing multinational assignments, she has been the trusted advisor for leading international companies; including acting as lead lawyer for South Stream Transport since 2012 on the development of the offshore part of the South Stream gas pipeline.


Partner; specialised in Energy, Competition & Antitrust, Corporate/Mergers & Acquisitions, Regulatory and Procurement, Real Estate, Dispute Resolution.


Partner, Wolf Theiss, since 2011.


Bulgarian, English, French, Russian.


Sofia Bar Association.


Law Faculty, Sofia University ‘St. Kliment Ohridski’, Master of Law; Boston University (audited classes).


Commercial, corporate and M&A

Within: Commercial, corporate and M&A

The 'highly professional' team at Wolf Theiss¬†provides ‚Äėconstantly reliable advice‚Äô and is ‚Äėresponsive and easy to deal with‚Äô; it handles both local corporate matters, such as the market entry of international companies into Bulgaria, corporate restructurings and M&A deals, and cross-border transactions, including the acquisition of foreign companies and various types of foreign investment. Key contacts include Anna Rizova; Bulgaria office founding partner¬†Richard Clegg, who¬†specialises in international infrastructure, telecoms and energy matters;¬†and Katerina Kraeva, who¬†advises on the mergers of listed and private companies, venture capital transactions, leveraged buyouts and corporate reorganisations. The team advised Sumitomo Corporation on¬†the ‚ā¨62m acquisition of the Moto-Pfohe business in Bulgaria, including the Ford, Volvo, Jaguar and Land Rover brands.

[back to top]

Dispute resolution

Within: Dispute resolution

Wolf Theiss handles commercial, administrative and regulatory proceedings, tax and insolvency disputes, international arbitration and mediation. Clients are from various sectors, including healthcare, food and beverages, IT and fashion. The team is headed by Anna Rizova, who assists clients in commercial disputes in the telecoms and energy sectors, as well as in competition litigation, and Radoslav Mikov, who represented Axpo Bulgaria in a series of complex enforcement and insolvency proceedings against the operator of a Bulgarian thermal power plant in multiple courts around the country. Senior associate Katerina Novakova  has experience in administrative and environmental proceedings.

[back to top]

EU and competition

Within: EU and competition

Wolf Theiss covers all areas of competition law, including abuse of dominance, vertical and horizontal agreements, merger control, private enforcement, state aid and public procurement. Notable clients include KKR, Monster Energy and Boehringer. In a recent highlight, Richard Clegg and Anna Rizova advised Sumitomo Corporation on obtaining merger clearance from the Bulgarian competition authority following its acquisition of Moto-Pfohe. Senior associate Hristina Dzhevlekova is also noted.

[back to top]

Energy and natural resources

Within: Energy and natural resources

Wolf Theiss covers all segments of the energy market, including natural gas, nuclear energy, conventional and renewable power generation and trade, and acts for international client such as ExxonMobil and Aurubis. The key contacts are Anna Rizova, who advises on the Bulgarian and EU regulatory framework, financial incentive mechanisms, and project-related contractual arrangements and transactions, and Radoslav Mikov, who has experience in advising clients in the electricity and natural gas sectors. In a recent highlight, the team advised energy management company Edison Trading on its high-value merger by incorporation into Edison, effected under Italian law in Bulgaria and Greece.

[back to top]

Healthcare and life sciences

Within: Healthcare and life sciences

Recent mandates for the team at Wolf Theiss include advising Celgene Management on its compliance with ARPharm's disclosure code relating to payments made to medical practitioners, and assisting Reckitt Benckiser with its GDPR policies. Other clients include Boehringer Ingelheim, STS Medical Group and Pierre Fabre. Key practitioners include team head Anna Rizova, who handles competition, regulatory and commercial matters; and senior associate Hristina Dzhevlekova, who is experienced in the pharmaceutical, biotechnology and life sciences sectors.

[back to top]

Intellectual property

Within: Intellectual property

Wolf Theiss' client roster spans the TMT, food, banking, healthcare and retail sectors; the team recently advised a pharmaceutical company on the protection of its IP rights against counterfeited medicinal products. Other areas of expertise include the registration, protection, acquisition and licensing of trade marks, patents, copyrights and franchises. Anna Rizova and Richard Clegg jointly lead the practice, which also fields senior associate Hristina Dzhevlekova and associate Iva Georgieva.

[back to top]

Projects and PPP

Within: Projects and PPP

Wolf Theiss regularly handles project developments, privatisations and concession matters and has notable expertise in cross-border mandates. The group recently advised Arco Capital on the refinancing and new development financing of an extension to an office park; Edison Trading, Aurubis and Axpo Bulgaria are also clients. Anna Rizova leads the group and is a key contact for cross-border investment projects, Richard Clegg focuses on the infrastructure, TMT and regulated sectors; Katerina Kraeva handles financing matters, Radoslav Mikov is an specialist in the energy field, and senior associate Katerina Novakova is experienced in the gas industry.

[back to top]

Real estate and construction

Within: Real estate and construction

Wolf Theiss specialises in structuring real estate investments, handling construction projects, providing transactional support and advising on the commercialisation of office centres. Major clients are Arco Capital, United Bulgarian Bank, Raiffeisen Bank and Gramercy Emerging Markets Fund. Anna Rizova, who advises on permits and environmental and construction projects, and Katerina Kraeva, who focuses on real estate financing, head the practice. Senior associate Atanas Mihaylov advises real estate developers on property rights acquisition, land use, technical infrastructure issues, construction, environmental regulations, commercial leasing and asset management. The team advised HedgeServ Bulgaria, a newly established subsidiary of global software development company HedgeServ, on setting up its business premises in Bulgaria.

[back to top]


Within: TMT

Wolf Theiss' 'responsive and easy-to-understand' team provides 'consistently reliable advice' to telecoms clients, which it acts for on cross-border mandates. Recent highlights include advising Mezzanine Management, Darby Private Equity and Tennenbaum Capital as minority investors in Vivacom on its sale to VTB Capital; and assisting FactSet with its acquisition of Bisam Technologies. Richard Clegg and Anna Rizova jointly lead the group; Clegg regularly handles the financing and development of telecoms and technology acquisitions, and Rizova focuses on M&A work.

[back to top]

Back to index

Legal Developments by:
Wolf Theiss Rechtsanwalte GmbH & CoKG


    The finance ministers of the European Union met again last week to discuss the plan of introducing a single EU financial transaction tax. According to the plan, a 0.1 percent tax would be levied on bond and capital transactions, while a 0.01 percent tax would be charged on derivatives transactions.
    - Wolf Theiss

Legal Developments in Bulgaria

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to