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Banking, finance and capital markets
Banking, finance and capital markets - ranked: tier 1


The team at Kinstellar offers 'spot-on advice, timely delivery and great client-adviser relations'; it advises on mainstream banking, project and structured finance, debt restructuring, non-performing loans (NPLs) and distressed assets. Firm-wide practice head Diana Dimova advised United Bulgarian Bank and Cibank on their merger, which resulted in the establishment of the third largest bank in Bulgaria. Svilen Issaev, who covers a broad spectrum of finance and investment issues, heads the banking and finance practice in Sofia. Both lawyers are 'excellent, capable and knowledgeable' and 'handle delicate and intricate matters extremely well'.

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Commercial, corporate and M&A
Commercial, corporate and M&A - ranked: tier 2


Kinstellar's 'competent' team provides 'spot-on advice' to clients in the banking, consumer goods, recruitment and hotel sectors, including major players such as Unilever, United Bulgarian Bank, the Adecco Group and Marriott, thanks to its rich experience and expertise. 'Exceptional professionalDiana Dimova heads the department; she and Prague office managing partner Lukas Ševčík represented a technology company in its high-value acquisition of a software business in Bulgaria, the Czech Republic and Hungary. Managing associate Nina Tsifudina, who has a particular focus on cross-border transactions, is also noted. The team acted as local counsel to Unilever on the sale of its global spreads business to KKR for €6.8bn, which involved advising on the Bulgarian law aspects of the vendor due diligence and acquisition documents.

Leading individuals

Diana Dimova - Kinstellar

Next generation lawyers

Nina Tsifudina - Kinstellar

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Dispute resolution
Dispute resolution - ranked: tier 3


The team at Kinstellar ‘gets the job done perfectly and is passionate about its work’; it covers all areas of business law and gives ‘practical and clear advice’ in litigation and arbitration. Kiev-based Kostiantyn Likarchuk heads the firm-wide practice, while the Sofia office is led by the 'smart, experienced, dedicated and responsive' Mladen Minev and the ‘extremely bright, ethical, attentive and energeticAntonia Mavrova. The team represented P&S East Growth in arbitration before the Bulgarian Chamber of Commerce and Industry relating to a dispute over a share purchase agreement.

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EU and competition
EU and competition - ranked: tier 2


Kinstellar advises on compliance, merger filings and cartel investigations, among other matters. Of counsel Dessislava Fessenko, who focuses on merger control and state aid regulations, leads the practice. The team advised Generali Group on the competition law and regulatory aspects of entering into a bancassurance partnership with UniCredit.

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Energy and natural resources
Energy and natural resources - ranked: tier 4


The team at Kinstellar offers ‘spot-on advice, timely delivery and great communication skills’, and has acquired clients such as Novenergia and Old Mutual Property in the past year. The ‘smart and well-organisedDiana Dimova advises on corporate transactions in the sector; she co-heads the practice with ‘extremely smart’ managing associate Mladen Minev. The team advised Novenergia on the acquisition of all shares in the capital of Budeshte Agro, a Bulgarian company which owns and operates a 4.118MW photovoltaic power plant.

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Real estate and construction
Real estate and construction - ranked: tier 1


The best choice for real estate matters on the market’, Kinstellar advises major international clients such as Garanti Koza and Globe Trade Centre on real estate investments, M&A deals and litigation, among other issues. The ‘responsive’ team has ‘extensive and solid experience in the fields of real estate financing, property restructuring and cross-border developments’, providing ‘creative and effective business solutions’. Bucharest-based Victor Constantinescu, who is co-head of the firm-wide real estate practice, advises a range of international investment funds and local developers on all aspects of real estate transactions in the region; Sofia practice head Antonia Mavrova has experience with structuring investments, lease agreements, and logistics and office projects, where she offers a ‘strategic, business-oriented approach and sound legal judgement’; and managing associate Mladen Minev has ‘a strong analytical mind and the ability to see the big picture’ and advises on acquisition and sales, zoning, planning compliance and retail matters. Constantinescu advised South African real estate and asset management company Old Mutual Property and its Bulgarian partner AG Capital on the €190m acquisition of two major office developments in Sofia.

Leading individuals

Antonia Mavrova - Kinstellar

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TMT - ranked: tier 3


Dessislava Fessenko leads the department at Kinstellar, which recently advised Micro Focus on the Bulgarian aspects of its acquisition of the software business of Hewlett Packard Enterprise, assisted International Hotel Licensing Company with its entrance into the Bulgarian market, and handled Deichmann's GDPR compliance work. KBC Bank, United Bulgarian Bank and Old Mutual Property are also clients.

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Further information on Kinstellar

Please choose from this list to view details of what we say about Kinstellar in other jurisdictions.


Offices in Sofia

Czech Republic

Offices in Prague


Offices in Budapest


Offices in Almaty


Offices in Bucharest


Offices in Bratislava


Offices in Kiev


Offices in Tashkent


Offices in Belgrade

Legal Developments by:


    In May 2011, the Serbian parliament adopted a new company law, which is scheduled to take effect on 1 February 2012 (hereinafter: the “New Company Law”). The new legislation will replace the current company law that has been in force since 2004 (hereinafter: the “Old Company Law”)
    - Kinstellar

Legal Developments in Bulgaria

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