The Legal 500

Within Banking and finance , Djingov, Gouginski, Kyutchukov & Velichkov is a first tier firm,

Djingov, Gouginski, Kyutchukov & Velichkov acted on a range of new money deals, and has been particularly active in project financing. It advised Deutsche Bank as arranger of the €265m financing and refinancing of Ideal Standard Group; IFC on a €25m financing for Bulgarian steel manufacturer Stomana Industry; and Credit Suisse and UniCredit Bulgaria on the restructuring and securitisation of a €250m project finance facility relating to Tsankov Kamak hydropower plant. DEG Invest and Gasrimin are also clients. Vessela Stancheva-Mincheva and Nikolai Gouginski lead the practice.

Within Capital markets , Djingov, Gouginski, Kyutchukov & Velichkov is a first tier firm,

Djingov, Gouginski, Kyutchukov & Velichkov’s four-partner banking and finance practice has a strong lender-side focus, and advised Hypo Investmentbank on two bond issuances by the Municipality of Varna. Other clients include Credit Suisse, UniCredit Bank Austria and ING Bank. Vessela Stancheva-Mincheva provides ‘precise and accurate advice’, and co-heads the practice with Nikolai Gouginski.

Within Corporate and M&A , Djingov, Gouginski, Kyutchukov & Velichkov is a first tier firm,

Djingov, Gouginski, Kyutchukov & Velichkov’s ‘highly reliable’ corporate practice provides ‘excellent response times and a high quality of work’. Highlights included acting for Miller Development on the sale of Miller Mall Varna One to Raiffeisen Zentralbank, and advising KT&G Corporation as a potential strategic investor in the privatisation of Bulgartabac Holding. The team is jointly headed by Zdravka Urginova and Violetta Kunze, and includes Omourtag Petkov, who shows ‘strong commitment to supporting his clients’.

Within EU and competition , Djingov, Gouginski, Kyutchukov & Velichkov is a first tier firm,

Djingov, Gouginski, Kyutchukov & Velichkov’s competition team provides ‘appropriate and timely advice, and strong expertise’. In 2010, it advised clients such as Coca-Cola Hellenic Bottling Company and Devnya Cement on antitrust compliance issues and merger control matters. The team also represented CEZ in its high-profile appeal to the Supreme Administrative Court relating to an abuse of dominant position decision by the CPC, and advised Metro Cash and Carry Bulgaria regarding ongoing antitrust investigations. Practice head Nikolai Gouginski is recommended.

Within Legal market overview,

Boyanov & Co and Djingov, Gouginski, Kyutchukov & Velichkov are prominent local firms, but are increasingly facing competition from rivals such as Spasov & Bratanov, Tsvetkova Bebov & Partners (Landwell) and Kambourov & Partners, as well as foreign firm CMS Cameron McKenna LLP – Bulgaria Branch. The Austrian firms of Wolf Theiss and Schoenherr are also increasingly influential in the region.

Within Privatisation, PPP and foreign investment, Djingov, Gouginski, Kyutchukov & Velichkov is a first tier firm,

Djingov, Gouginski, Kyutchukov & Velichkov acted on two of the country’s scarce privatisation transactions: advising KT&G Corporation on a possible tender bid for a stake in Bulgartabac Holding, and PCCW on its proposed €1.6m acquisition of a majority stake in Bulgarian Telecommunications Company. The practice also remained active in the PPP sector, advising the Foundation Center for Economic Strategy on a renovation PPP with Sofia University.

Within Projects, energy and natural resources, Djingov, Gouginski, Kyutchukov & Velichkov is a first tier firm,

Djingov, Gouginski, Kyutchukov & Velichkov’s legal advice is ‘first class, top quality and tailored to commercial needs’. The team, which is jointly headed by Georgi Gouginski and Milan Pandev, advises on matters across the energy sector. It advised ContourGlobal on its €500m purchase of a majority stake in ENEL’s Maritsa East Three 908MW thermal power plant, and DEG Invest on the project financing of a wind power plant. It also acted for Chevron regarding gas extraction activities. Pandev is a ‘top-class commercial lawyer, with excellent English-language drafting skills’.

Within Real estate and construction , Djingov, Gouginski, Kyutchukov & Velichkov is a first tier firm,

Djingov, Gouginski, Kyutchukov & Velichkov’s client base includes international and domestic companies. Stephen Kyutchukov led a team that represented Moda Sport on its acquisition of a land plot in Sofia, and advised Bulgarian developer GTC on retail and leisure developments in Varna, Stara Zagora and Burgas. It also advised Corio on its development of a commercial complex.

Within TMT , Djingov, Gouginski, Kyutchukov & Velichkov is a first tier firm,

Djingov, Gouginski, Kyutchukov & Velichkov’s TMT practice provides an ‘exceptional’ level of service. The group represents some of the world’s leading hi-tech brands, and advises on the full spectrum of IP and IT regulatory matters. It advised PCCW on its proposed €1.6m acquisition of a majority stake in Vivacom. Other clients include Vmware International, Nokia and Petrotechnical. Practice head Violetta Kunze and associate Milka Ivanova have ‘broad industry knowledge’ and ‘great analytical and tactical skills’.