Next Generation Partners

Firms To Watch: Commercial, corporate and M&A

Kaldamukov, Dinev Bliznakova & Mandazhieva Law Office has experience handling the full spectrum of M&A transactions, restructuring and general corporate matters.
Experienced practitioners Venelin Dimitrov and Ilya Komarevski direct the commercial and corporate practice group at fledgling firm Komarevski Dimitrov & Partners, Attorneys-at-Law, focusing on complex M&A transactions and corporate matters.

Commercial, corporate and M&A in Bulgaria

Boyanov & Co.

Boyanov & Co. is known as one of the most pre-eminent Bulgarian firms in the commercial, corporate and M&A space, specialising in high-value M&A deals and often receiving mandates for complex corporate restructuring projects. The team advised Mondelez International in the Bulgarian elements of its $2bn acquisition of the Greek snack-food company Chipita. Key points of contact within the team include practice group co-head Yordan Naydenov , who is regularly engaged in M&A work, and also regards corporate restructuring amongst his specialisms. He jointly leads the team with Raina Dimitrova. Founding partner Borislav Boyanov is experienced on large-scale M&A and corporate transactional matters. Elsewhere, Alexander Chatalbashev specialises in the energy sector and has extensive experience in handling cross-border corporate mandates. Mihail Vishanin is another important port of call.

Practice head(s):

Yordan Naydenov; Raina Dimitrova

Other key lawyers:

Alexander Chatalbashev; Borislav Boyanov; Nikolay Zisov

Key clients

Three Seas Initiative Investment Fund S.A.

Econt Financial Services

M Trucks Bulgaria



NN Group NV

Mondelez International



Black Sea Property

Work highlights

  • Advised the sellers on the sale of One Telecommunications to the Hungarian IT service management company 4iG.
  • Advised Thee Seas Initiative Investment Fund in a transaction for the acquisition of a majority stake in the Austrian independent renewable power group Enery Development.
  • Advised Mondelez International on all Bulgarian law aspects in the acquisition of the Greek snacking company Chipita S.A. for approximately $2bn.


CMS houses one of the largest commercial teams on the domestic market, receiving complex and high-value mandates across various sectors. From the team itself, partner Atanas Bangachev has been praised as ‘a lawyer who stands out’ – he co-heads the corporate practice and regards large-scale M&A transactions as his particular expertise. Co-managing partner Gentscho Pavlov advises large scale institutions on M&A and corporate restructurings, whilst Dimitar Zwiatkow  is a key name for banking M&A and major portfolio transactions. The team was bolstered by the elevation of Nevena Radlova to partner in 2022, whilst counsel Veliko Savov specialises in M&A and private equity deals.

Practice head(s):

Atanas Bangachev; Assen Georgiev; Dimitar Zwiatkow; Gentscho Pavlov; Nevena Radlova

Other key lawyers:

Veliko Savov


‘The team has prompt responsiveness, good understanding of the business, legal knowledge and ability to quickly assess the risk areas and propose remedial action, willingness to listen and good judgement.’

‘Great communication skills, prompt responsiveness, great writing skills on giving opinions within deadlines with focus on detail when necessary for the client to understand. I have been really impressed with the quality of services I received with respect to the above from Nevena Radlova.’

‘Responsive team, very knowledgeable of local issues, commercially driven.’

‘Responsiveness and availability, ability to work under tight timeline.’

Key clients

Teda-MM & LDS Plast

Masco Europe

Elevator Ventures Beteiligungs

PCC DEG Renewables

MTG Dolphin

Cordeel Group

CTP Invest spol




Leader 96

Work highlights

  • Advised Cordeel Group on the sale of a mixed-use logistics and office development to CTP.
  • Advised the owners of Teda-MM & LDS Plast on the sale of a majority stake to CEECAT Capital.
  • Provided legal services and assistance in relation to the sale of 100% of the shareholding in Telnet.

Djingov, Gouginski, Kyutchukov & Velichkov

Regarded as one of the top firms for commercial, corporate and M&A work, the team at Djingov, Gouginski, Kyutchukov & Velichkov has been praised for its ‘full coverage of all legal and regulatory matters’ in the space. The firm is regularly engaged on high-value, cross-border and complex mandates, whilst their client-list features both large domestic and international businesses. Key team members include head of practice Zdravka Ugrinova  who has significant expertise in the area, and is frequently engaged on large M&A and private equity transactions. Partner Violetta Kunze  specialises in TMT, but maintains an impressive practice in foreign investments, corporate compliance and cross-border transactions. At associate level, Valentin Bojilov  has considerable experience in joint ventures and general corporate matters. Ralitsa Gougleva  advises investors on high-profile domestic M&A deals.

Practice head(s):

Zdravka Ugrinova; Violetta Kunze

Other key lawyers:

Stephan Kyutchukov; Omourtag Petkov; Georgi Tzvetkov; Valentin Bojilov; Ralitsa Gougleva


‘Extremely knowledgeable, responsive and responsible. Full coverage of all legal and regulatory matters.’

‘Zdravka Ugrinova and Ralitsa Gougleva are outstanding. They have a big picture understanding, and take ownership of a situation and deliver outcomes for the benefit of the client. Calm, composed and super intelligent, they are a great pleasure to work with.’

Key clients


Blantyre Capital




Sanmina Corporation

International Business Machines Corporation (IBM)

Axxess Capital

The Rohatyn Group (TRG)

The State Fund of Oman

Velka Pecka

INTEGRAL Venture Partners




Work highlights

  • Assisted PPF on the sale of minority share in CETIN Group N.V. to GIC.
  • Advised a consortium of lenders including Blantyre Capital Limited, the European Bank for Reconstruction and Development and Bulgarian Development Bank in relation to the auction process for the contemplated sale of Bulsatcom.
  • Acted as local legal counsel in the acquisition of a majority stake in Leader Group.

Kambourov & Partners

The corporate and commercial practice at Kambourov & Partners has been praised for its ‘high-quality services and level of expertise’. Notable practitioners within the team include co-head Veronika Hadjieva, whose vast experience spans both local and international M&A deals, foreign investments and corporate governance. She is supported by fellow practice co-head Vladimir Rangeloff. The team was bolstered by the promotion of Angel Rizov to partner in 2021, who focuses on high-value M&A transactions and is described as ‘commercially-minded and highly experienced’.

Practice head(s):

Vladimir Rangeloff; Veronika Hadjieva

Other key lawyers:

Angel Rizov; Christian Dimitrov


‘The team provides prompt and high-quality services where the motivation of the lawyers and their level of expertise are constantly expressed. We assess the level of service as excellent and we emphasise that the answers to the legal questions were provided by Kambourov & Partners law office in due time.’

‘Vladimir Rangeloff’s knowledge and experience are exceptional in the field of commercial, corporate and M&A, in terms of both legislation and projects.’

‘The commercial, corporate and M&A team was able to quickly and commercially respond to local jurisdiction issues as part of the cross-border M&A transaction they were supporting on. They were able to bring significant local experience, coupled with international legal knowledge and M&A experience and were easy to deal with. They provided timely and clear advice.’

‘Angel Rizov and Christian Dimitrov are highly responsive, commercially minded and highly experienced in M&A (including on cross-border transactions). They produced clear and concise advice that was easily adaptable for use in the broader transaction process.’

‘Angel Rizov is a pragmatic and commercially focused practitioner.’

‘The practice brings together unparalleled experience , professionalism at its finest, commercial focus and a proactive, genuinely helpful and earnest attitude that is hard to find these days. All of this makes them a unique firm with a unique approach that has maintained its essence for more than three decades.’

‘The lawyers at Kambourov stand out as well-rounded experts, combining knowledge, technical excellence, business focus and spectacular intelligence. What makes them different is their overall approach to work and clients – you rarely see a truly client focused firm that goes above and beyond to protect your interests. Their composure and tact also lift them up above their competitors.’

Key clients

Abris Capital Partners

Bulgarian Telecommunications Company


United Group

Erste Card Club


Berlin Packaging

BARNES Bulgaria

Neo Gravity

IWG International Holdings

New Work Offices


The Hut Group


Wimmer beteiligungs und vervaltungs



Schwarz IT Bulgaria

Work highlights

  • Advised Abris Capital Partners on the Bulgarian aspects of the acquisition of Dentatechnica.
  • Assissted the Bulgarian Telecommunications Company (BTC/Vivacom) on the acquisition of a number of local operators.
  • Advised Verisk on the Bulgarian aspects of the sale of its 3E business to New York-based investment firm New Mountain Capital.


Kinstellar’s deal flow regularly sees major M&A transactions – in 2022 the team acted as lead counsel to KBC in the acquisition of Raffeisenbank for over €1 billion. Managing partner Diana Dimova  co-leads the team, focusing on acquisition of both private and listed companies, restructuring and corporate governance. Fellow co-head Nina Tsifudina  is a key contact for matters of Bulgarian corporate law in large-scale international transactions, particularly those arising out of the IT sector. Counsel Atanas Mihaylov‘s expertise lies within M&A, joint ventures and restructurings, with particular emphasis on the TMT and real estate sectors.

Practice head(s):

Diana Dimova; Nina Tsifudina

Other key lawyers:

Atanas Mihalov


‘Strong reputation with high-profile M&A transactions and known for very high-level legal expertise. The firm stands out for its creativity, novelty solutions and strategic sense. The practice is technically very good and the lawyers are able to adjust their solutions to our needs.

‘The firm is able to offer 360-degree solutions in all areas of law, covering them with some of the most accredited professionals in Bulgaria. It is very adaptable to client’s needs and takes into account each request. The lawyers in the M&A team made things easy and really facilitated the discussion between us and the counter party.’

‘An excellent firm which manages to maintain, from junior lawyers to partners, the same degree of excellence in terms of both legal expertise and human qualities. The lawyers’ reactivity is absolutely astonishing, for any questions, any issues, no matter the time and the issue, you will get your questions addressed.’

‘Atanas Mihaylov has a really good understanding beyond the legal aspects, he is a real adviser in the broader sense of the term. He is very collaborative and takes the initiative to find solutions and keep the project on track. Atanas and his team assisted with great attention to detail and with innate analytical ability. The team showed 100% commitment in terms of time and resources to the deal.’

Key clients

KBC Bank


Kin & Carta

LC Interactive


GTT Communications

Gebruder Weiss

European Bank for Reconstruction and Development (EBRD)


Astound Commerce Corporation



Forsta (FocusVision)

HCL Technologies

Novus World



Work highlights

  • Acted as lead counsel to KBC on the acquisition of Raiffeisenbank (Bulgaria) and all its subsidiaries, comprising the Bulgarian operations of Raiffeisen Bank International, for €1bn.
  • Advised thredUP on the acquisition of its European peer Remix Global for approximately $28.5m.
  • Advised Kin and Carta on the acquisition of Melon Group in Bulgaria, North Macedonia and Kosovo.


The corporate and M&A practice at Schoenherr focuses on large-scale mandates, and has an impressive track record for national and cross-border deals. Described as ‘highly competent, responsive, and proactive’, the team has also been praisedas an ‘international class firm with local knowledge’. Notable members of the team include practice head Alexandra Doytchinova, who has ‘huge experience in M&A’ and is frequently instructed on cross-border deals including private equity investments and joint ventures. Partner Ilko Stoyanov is praised for his ‘exceptional knowledge and experience’ and focuses on competition and regulatory issues in relation to transactional matters. Katerina Kaloyanova-Toshkova maintains her practice advising clients on their day-to-day corporate and commercial matters, whilst Stela Pavlova-Kaneva focuses on cross-border M&A transactions.

Practice head(s):

Alexandra Doytchinova; Ilko Stoyanov

Other key lawyers:

Katerina Kaloyanova-Toshkova; Stela Pavlova-Kaneva



‘Ilko Stoyanov’s knowledge and experience is exceptional in the field of commercial, corporate and M&A. He also has a broad expertise in the regulatory legislation applicable to the credit institutions, investments and banks as well in the financing law and commercial legislation.’

‘The Schoenherr team has been a great partner to us on international corporate, M&A, and IP matters. International class firm with local knowledge.’

‘Everyone on the team has shown to be highly competent, responsive, and proactive in managing and supporting us on a complex M&A case. We have been able to rely on the Schoenherr team for a combination of topics related to IP, restructuring, sell-side due diligence, commercial matters and others.’

‘I’d be happy to have Schoenherr on our side on every transaction. They have a strong bench of experienced lawyers, and we completely trust them. They are very responsive and able to handle difficult negotiations in a stunningly professional and calm manner.’

‘Alexandra and Stela are one of the best lawyers with whom we’ve worked. They know our business very well and provide us with tailored advice. Alexandra has huge experience in M&A and has the answers to everything. She has very good judgment and is excellent at providing solutions to prevent issues from even arising. Stela is incredibly knowledgeable and proactive and provides recommendations based on both the commercial and legal point of view. What I like about her is that she’s always available and always goes the extra mile for us.’

‘The commercial, corporate and M&A team is extremely reliable. They have a very quick and fast reaction time to any question or concern and are solution oriented.’

‘Alexandra Doytchinova, Katerina Kaloyanova and Stefana Tsekova were outstanding team members, who helped us tremendously during a transaction that took place in Bulgaria. Their approach is to be a real partner of their clients, so it gave us a lot of comfort during the negotiations and execution of the transaction’

Key clients

Chaos Software

KKCG Group

Aricoma Group International

Alfa Laval Corporate

NTT DATA Business Solutions

Liechtenstein Group



Ringier AG

BlackPeak Capital

United Group


Enery Development

MET Group


Work highlights

  • Advised KKCG Group and its portfolio company Aricoma Group International AB on the acquisition of Musala Soft, a major Bulgarian software company, and its subsidiaries
  • Advised the leading software company Chaos on the Bulgarian law aspects in its merger with Enscape.
  • Advised BlackPeak Capital on an equity investment in courier and fulfilment provider

Wolf Theiss

Among the longest-standing M&A practices in Bulgaria, the team at Wolf Theiss is frequently instructed on both domestic and cross-border commercial transactions and regularly comes up against major international law firms in complex negotiations. The practice group handles a diverse range of private equity, venture capital and industry work, remaining particularly strong in the technology and energy sectors. Key practitioners include English-qualified head of team Richard Clegg  , who is well known for ‘his vast experience in M&A’. Elsewhere, Anna Rizova focuses on complex M&A and market entry transactions for global clients. Katerina Kraeva  is well-known for her work in banking and finance, but also has extensive experience in corporate restructuring, venture capital transactions and leveraged buy-outs.

Practice head(s):

Richard Clegg

Other key lawyers:

Anna Rizova; Katerina Kraeva; Jasmina Uzova


‘Wolf Theiss is a top notch legal services provider by being able to support our business in a variety of business cases from complicated sales contracts to M&A and join venture initiatives, not only in Bulgaria but also in the region.’

‘The reason we choose to work with Wolf Theiss is Richard Clegg and his vast experience in M&A.’

‘Anna Rizova has unique professionalism.’

Key clients


Raiffeisen Bank International

Three Seas Initiative Investment Fund


A&M Capital



Kia Motors Bulgaria

Software One

Eleven Venture Capital

Nik Electronics

Besra Gold


HG Capital & Vista Equity Partners

Work highlights

  • Advised EBRD on the acquisition of a significant minority stake and shareholder arrangements in Euroins.
  • Advised Glovo on a multi-jurisdictional acquisition of the CEE operations Delivery Hero, including Foodpanda in Bulgaria.
  • Advised A&M Capital on the acquisition of Pet Network, an omni-channel pet care platform in southeast Europe, operating across Croatia, Romania, Slovenia, Serbia and Bulgaria.

Deloitte Legal Law Firm

Deloitte Legal Law Firm remains strong in the field, utilising its multi-disciplinary global network to handle a broad range of commercial and corporate matters including M&A transactions, alternative restructuring and regulatory matters. Miglena Micheva now co-leads the practice with support from. As an experienced practitioner, Micheva is regularly engaged on complex corporate and commercial transactions, whilst Yordanov focuses on M&A, asset financing and acquisition financing.

Practice head(s):

Miglena Micheva; Kaloyan Yordanov

Other key lawyers:

Adelina Mitkova; Konstantin Ivanov


‘The team is highly skilled and precise. They are able to focus on the client’s targets with high competence.’

‘Miglena Micheva is an esteemed professional, able to respond quickly to all matters relating to corporate and M&A. Her passion and attention to detail make her the perfect lawyer you want to work with.’

‘We use Deloitte for corporate matters. The team is knowledgeable with relevant experience in the corporate affairs. They propose relevant solutions taking into account the needs of the specific business.’

‘Kaloyan Yordanov is a very calm and practical lawyer who seeks to find workable solutions to the client’s needs.’

‘Zvezdelina Filova is a fast-paced lawyer having the ability to explain even the most complicated issues in a simple manner.’

Key clients

Kongsberg Gruppen

Work highlights

  • Acted as the lead counsel to Kongsberg Gruppen, through its subsidiary Kongsberg Digital AS, which acquired 65% of InterConsult Bulgaria.

Dimitrov, Petrov & Co

Dimitrov, Petrov & Co are well-versed in mergers, acquisitions and joint ventures, enjoying a reputation for possessing a ‘high level of industry knowledge’. They are frequently instructed in a range of industries, particularly in the TMT space. The firm’s client list spans both domestic and international businesses, as well as asset managers and non-government organisations. Practice head Zoya Todorova  is particularly well-versed in M&A deals, corporate restructuring and transaction structuring. Other key points of contact include partner Boyana Milcheva and associate Radina Tomanova .

Practice head(s):

Zoya Todorova

Other key lawyers:

Boyana Milcheva; Radina Tomanova


‘What is really unique for DPC is their genuine desire to understand the corporate objectives and goals in every transaction. The team knows very well the tiny devil details in the deals and demonstrate amazing level of legal competencies. They also have high level of industry knowledge which is great advantage.’

‘I work mainly with Boyana Milcheva and her team. Boyana is very smart and easy-going to work with. She is managing our projects extremely effectively and I know that the deal is in good hands. Zoya Todorova and Radina Tomanova are also strongly reliable and always available to assist us. Overall, the level of client care is a top priority for them and is hardly to match.’

‘DPC has shown itself as a very professional and responsive law firm.’

‘Team members have a straight-forward, open approach. They are diligent and independent with focus on quality and optimisation of efforts and costs.’

Key clients




SOT – Security Alarm Systems


Ribno Stopanstvo

Evrotrust Technologies

Runcorn Nominees

Oskar Ruegg Bulgaria

Work highlights

  • Advised the whole process of acquisition by DHH of 60% of the shares of Evolink.
  • Advised the entry of the Swedish software company Beetroot AB in the Bulgarian market through the acquisition of the business of South Gate Tech.
  • Advised and assisted Orbico in a merger procedure aiming to optimise the activities of the companies involved in the transformation.

Dinova Rusev & Partners

The corporate and commercial practice at Dinova Rusev & Partners handles a broad range of matters across different sectors, regularly acting on behalf of major international clients. At the senior level, practice head and firm co-founder Anelia Dinova has over two decades of experience in the space, focusing her practice on inbound investments into Bulgaria. Partner Iliya Grozdanov focuses on energy sector clients, with experience in complex negotiations, regulatory compliance matters, and structuring commercial agreements.

Practice head(s):

Anelia Dinova

Other key lawyers:

Iliya Grozdanov

Key clients


I-Cover Services

Everty Bulgaria

Galaxy Investment Group


AP Retail

Northrop Grumman

Imerys Minerals Bulgaria

Sofia Hotel Balkan

Economou Shipping

Devico Bulgaria


Catechin Water Laboratories

Astron Chemicals

Greenville Bulgaria

Hristov & Partners

The ‘well-knit team of highly qualified lawyers’ at Hristov & Partners utilise their strong international network to work alongside large multinational firms on a range of cross-border commercial, corporate and M&A matters. The team are similarly strong on regulatory issues. Practice head and founding partner Pavel Hristov is a notable practitioner in the space who ‘stands out as very knowledgeable, experienced, and results driven’. His focus remains on domestic and cross-border mergers, acquisitions and joint ventures. At associate level, Dragomir Stefanov assists on complex transactions.

Practice head(s):

Pavel Hristov

Other key lawyers:

Biliana Shagova; Dragomir Stefanov


‘I work with Dragomir Stefanov and his very open minded and always ready to support.’

‘I have had the pleasure of collaborating with Hristov & Partners for corporate housekeeping services offered to some of our key international clients. They are easily adaptable to new processes and simply makes collaboration across jurisdiction a seamless experience.’

‘I have mainly worked with Senior Associate Dragomir Stefanov who has always been a true pleasure to work with. He is always easy to reach and offers a high level of service, is forthcoming, kind, and highly competent and knowledgeable. He manages to explain local procedures and regulations in a clear and concise manner and can adapt his communication effectively to the recipient no matter that person’s legal expertise. I have also only had good feedback from our clients.’

Key clients

European Bank for Reconstruction and Development (EBRD)


Raytheon Technologies

Eaton Industries

Plesk International


Reckitt Benckiser





Techtronic Industries

Webit Foundation

ALD Automotive

Bright Marketing Research

DanubeTruck Bulgaria

DMG Bulgaria


FFGroup Bulgaria

Bella Bulgaria

Work highlights

  • Advised EBRD on its investment in the Bulgarian innovative AI company Alcatraz AI.
  • Advises IWG on the implementation of new client and franchising business models in Bulgaria.
  • Advised Sitecore on corporate due diligence and international commercial contracts and inter-company agreements.

Penkov, Markov & Partners

Leveraging their considerable experience to handle a broad spectrum of domestic and international matters, the practice group at Penkov, Markov & Partners display a strong portfolio of mandates arising out of the energy, insurance and technology sectors. Founding partners Ivan Markov and Vladimir Penkov are highly-regarded in the Bulgarian legal market, and jointly head up the commercial, corporate and M&A team with Nikolay Cvetanov . His focus includes share transfers, company restructuring exercises, large-scale M&A and cross-border transactions.

Practice head(s):

Vladimir Penkov; Ivan Markov; Nikolay Cvetanov

Other key lawyers:

Roman Stoyanov; Atanas Valov


‘Atanas Valor and Milena Gaidarska: the transaction was very complex, in a heavily regulated industry. Both navigated successfully through all the issues and executed a seamlessly transaction.’

‘The team is very responsive and react adequately to the customer needs. They are qualified and all the customers can rely that will receive the needed support.’

‘The individuals we are working with (especially Boris Lazarov) have really friendly interactions with us and respond every time to our questions and requests on time and very professional.’

‘Very professional team.’

‘Very experienced experts in different areas.’

Key clients

Fidelis Research


Global Biomet


Viraj Group

Silicon Valley Bank

Accession Mezzanine Capital

Basildon Holding Sarl


Eurowind Energy

Infinity Capital

ConverterTec Bulgaria

Tiger Technology


GD Capital Investments

Xella Bulgaria

Klett Lernen und Information

Work highlights

  • Advised Accession Mezannine Capital on its exit as minority shareholder and the settlement of its mezzanine loan facility in the course of the acquisition of Remix Global AD by ThredUp.
  • Advised Global Biomet on one of the largest local solar projects for acquisition and development of 100MW PV plant.
  • Advised ČEZ a.s. in the sale of 100% of the equity shares of CEZ ESCO Bulgaria to a publicly listed Bulgarian company.

Andrey Delchev and Partners - Eurolex Bulgaria

The team at Andrey Delchev and Partners - Eurolex Bulgaria acts on behalf of both domestic and international clients, focusing on M&A transactions, joint ventures, corporate governance and restructuring, and drafting complex commercial agreements. Practice head Andrey Delchev has considerable experience in commercial law, PPP, concessions, and both the energy and water sectors. Noted for her ‘knowledge and expertise’, Magdalena Valova works on international PPP projects, and regards concessions as a specialism.

Practice head(s):

Andrey Delchev; Magdalena Valova

Other key lawyers:

Severina Liubenova


‘We communicate with the Severina Liubenova and we are pleased that our communication is always timely and outstanding. Her personal touch, knowledge and expertise is unprecedented and deserves to be outlined. We have no direct impression of the rest of the team but the final product they deliver is always excellent.’

Key clients

Asarel – Medet

Fresh Media Group

Trace Group Hold




DK Energy Bulgaria

Nova City Group

Gedeon Richter

Sirma Solutions


Work highlights

  • Assisted Sirma Solutions with the acquisition of the Bulgarian IT company ‘Sciant’ JSC, by performing a due diligence and drafting the share purchase agreement.
  • Assisted Ashram Limited in relation to the sale of Central Sofia Market Hall by negotiating the deal and advising the client on legal issues such as the special status of the market, the restrictions flowing therefrom, and the mortgages and pledges incumbent upon it.
  • Provided full legal services to Fresh Media Group on matters ranging from all day-to-day corporate and commercial legal matters, to issues related to the applicable regulatory rules, among others.

Arsov Natchev Ganeva

Co-heads of practice Jivko Rokov, Marin Arsov and Desislava Lukarova lead a corporate and commercial team at Arsov Natchev Ganeva that is adept in corporate governance, joint ventures, regulatory issues and M&A matters for both public and privately owned companies. Notably, the practice group advised ICGB AD on corporate governance matters pertaining to the significant Greek interconnector project, in order to ensure compliance with specific independence criteria.

Practice head(s):

Jivko Rokov; Marin Arsov; Desislava Lukarova

Work highlights

  • Advised insurer Groupama SA and its Bulgarian branch Groupama Life Insurance Bulgaria in the private tender for the acquisition of NN Group Bulgarian pension and life insurance portfolio.
  • Advised ICGB on the construction and operation of a natural gas pipeline interconnection between Bulgaria and Greece.
  • Advised on two greenfield projects for construction of solar power plants in Bulgaria.

Atanassov & Ivanov Law Firm

Heralded as ‘proactive, practical and commercially led’, the corporate and commercial practice group at Atanassov & Ivanov Law Firm adopts a multi-disciplinary approach, integrating expertise from the tax and dispute resolution teams. The team remains strong in the energy and technology sectors, particularly on early-stage financing and corporate governance. Name partners and co-heads of practice Iliyan Ivanov and Stoyan Atanassov are noted for their ‘impeccable judgement and expertise’. Ivanov is a noted practitioner in the energy sector, whilst Atanassov excels on significant corporate mandates from international clients.

Practice head(s):

Iliyan Ivanov; Stoyan Atanassov


‘An excellent team, which is ready to go the extra mile to provide fast and quality services.’

‘All individuals are highly motivated, qualified and hard working.’

‘Atanassov & Ivanov Law Firm has been our trusted law firm for more than two decades. Their team handles all legal aspects of our business with loyalty, professionalism, expertise, efficiency, responsiveness and reliability.’

Key clients

Toyota Balkans

Inchcape Brokerage

Amorim Cork Bulgaria

Salini Impregilo

Michelin Group

Cheque Dejeuner Group

Velocity Smart Group


Beam Suntory



Analytics for Everyone

Asset Management Company

Black Peak Capital

Dr. Oetker

Bulgarian Food Producer


Do It Wise

Elton Corporation

STS Inks

Vinprom Biala



Inter ES 2000


Austrotherm Bulgaria

Yug 3000

Ayurveda Chance


Work highlights

  • Acted as advisor to Black Peak Capital for the purposes of the structuring and setting up of a new fund.
  • Provided advice on and assistance in the formation of the Velocity Smart Group, involving existing corporate structures both in the UK and in Bulgaria to form the Client’s group of companies.


The practice group at CasePro services a diverse and extensive range of both Bulgarian and international clients across varying sectors, providing legal services on a broad range of corporate matters and private transactions. Cross-border M&A mandates is a core discipline for the team. Lead M&A partner Damyana Lazarova has more than 20 years experience in the space, and is supported by real estate expert Spartak Yovchev. Co-practice leader Boyan Lazarov advises corporate clients on day-to-day business and commercial transactions.

Practice head(s):

Damyana Lazarova; Boyan Lazarov

Other key lawyers:

Spartak Yovchev; Radost Doycheva; Nikolay Georgiev; Plamena Krasteva


‘The team is nothing short of outstanding.’

‘In the period of working with the company, I have had the opportunity to work with extremely young but responsible lawyers, always ready to solve our problems or to be at our side with the best research answering all our questions. I can guarantee you that the extensive knowledge and strong experience in the areas of commercial and corporate law gives the members of the CasePro team the ability to provide high-quality legal advice to any client who is looking for it.’

‘CasePro has an outstanding team of experts who cover a vast area in commercial and corporate law. They work with exceptional attention to details and deliver their services lightning fast.’

‘We work close with Boyan Lazarov and Kalina Koleva-Sarafova. They are both exceptional experts in law and excellent people who you can always rely on.’

‘CasePro are very fast and diligent, they deliver true results. They have more pragmatic approach compared to other lawyers. Collaboration with them is always easy.’

‘I mainly work with Damyana Lazarova, Boyan Lazarov and Spartak Yovchev. I highly appreciate their responsibility and solid expertise. I am also satisfied with the results from the work of their colleagues Radost Doycheva and Plamena Krasteva which are very motivated and focused on achieving practical and timely solutions for each separate case.’

Key clients


WHG Services (Bulgaria)


SumUp Holdings Luxembourg

SumUp Payments

Taulia Bulgaria

Paysafe Bulgaria

Lufthansa Technik Sofia


GrEco Bulgaria

Scale Focus


SumUp Services


Rhythm Engineering


MariaDB Bulgaria

Intertainment Services

Astrea Staffing

Enco Vending

Melexis Bulgaria

Milestone Systems

Tide Platform

OpenPayd Bulgaria

Astea Solutions

Debitoor Holdings


Direct Credit Bulgaria

Defacto Retail Limited Sirketi Bulgaria

Trust for Social Achievement Foundation

Fourth Bulgaria

Wealth Effect Management

Henkel Bulgaria

New Vision III Fund

Property Club


Pontica Solutions


Berry Smart Logistics



Internet Securities Bulgaria

Digital Technology Center Commerzbank AG Sofia Branch BFC

Expert Solutions

TDB Play

Network Management Innovations


Sb Accounting & Consulting








Commercz Bank



Mabsut Technology


Industrial Software

AP Bulgaria

America for Bulgaria Foundation

Joker Media Rental

Ten Dots



New Vision Fund

SWM Fund Management

Work highlights

  • Supported client SumUp in their series of corporate financing rounds, including the equity investment with external investors.
  • Advised Excitel International B.V.on the execution of Series C Round financing in Excitel group.
  • Advised Smart Organic AD on a €3m initial public offering on SME growth market BEAM.

Georgiev, Todorov & Co

Georgiev, Todorov & Co is frequently instructed by key international and domestic clients on a range of transactional matters in the energy, construction and transport sectors. Key personnel include practice head Arno Mamasyan, and ‘specialist’ partner Tsvetelina Dimitrova  who is similarly active on commercial and corporate matters.

Practice head(s):

Arno Mamasyan

Other key lawyers:

Tsvetelina Dimitrova


‘Мost of the practising lawyers have experience in solving the cases we assign to them, therefore we receive an answer and assistance in a short time.’

‘I can distinguish the lawyers from this office with the high responsibility in providing the service.’

‘Georgiev, Todorov & Co has been our trustworthy partner for several years now. Their team is always prepared on time, has a very diverse skill set and a real passion for their work – the lawyers not only want to solve the particular issue but also to contribute to the future success of the company.’

‘Our hospital has been using the services of Georgiev, Todorov & Co. for over five years already. The law firm impressed us with its knowledge in the corporate, commercial and M&A field – they regularly advise us on contracts, delivery, relations with stakeholders, competition law in the field. The lawyers are experts in the field and most specifically have specific knowledge in the healthcare sector, which makes us feel protected. They offer excellent value for the legal services and use technology when needed.’

Key clients

AG Capital

Alfred C. Toepfer International Netherlands

Alliance Print



Backbar Club


BlackPeak Capital


Bulgarian Branch Chamber

Bulgarian Telecommunications Company

Ciela Norma


Dench eGaming Solutions

Dundee Precious Metals

Duplex International

Entrea Capital

Experian Bulgaria

Fleet Services


Galchev Engineering

Heat Energy

Hill Clinic

Infinity travel

METRO Cash & Carry

Metroreklama & Moution Arts

MTK Group

NM Genomix

Nurts Bulgaria

On Clinic


Resalta Bulgaria

Roche Bulgaria

Solar Energy Support

Solaris Bus & Coach

Thermal Heating Plant Ruse

Work highlights

  • Consulted the Bulgarian Branch Chamber “Roads” and its members on a high-profile matter for the maintenance of the entire national road network in Bulgaria and a public procurement contract for around €512m.
  • Advised a photovoltaic power plant on the procedure for obtaining a license for production of electricity, as well as for approval of the respective bank financing.

Gugushev & Partners Law Office

The ‘highly effective’ team at Gugushev & Partners Law Office is regularly instructed on an array of matters, including restructuring, corporate governance and commercial transactions. Founder and managing partner Stefan Gugushev leads the practice group, supported by senior partner and co-head Dimitrinka Metodieva.

Practice head(s):

Stefan Gugushev; Dimitrinka Metodieva


‘Extensive legal experience, practice and advice on AIF, AIFM and EuVeca topics, registration and licensing regimes’

‘Very friendly, very competent, punctual, responsive, supportive, provide detailed legal advice with multiple solutions (where available), thoughtful suggestions for the approach with the fund documents. Stand-out team: Daniela Petkova, Victor Gugushev, Sevdelina Rabuhchieva’

‘The team of Gugushev & Partners is highly effective and always ready to take on any challenge that comes across! Their team helped us throughout the whole process, and we are glad we chose their services’

Key clients

Valtech Solutions

Helios Energy Invest

European Energy

Shareholders in Remix Global


Shareholders in Softaxi

Arkel Sofven

Eleven Fund III Cooperatief

NJ Partners

Work highlights

  • Advised Helios Energy Invest JUSC on a €65.9m acquisition of Helios Projects JSC.
  • Advised the owners of Remix Global on $28.5m sale of the company to ThredUp.
  • Acted as local legal advisor of Valtech Solutions on its $16.7m acquisition of The Berndt Group, Ltd, USA, including its Bulgarian subsidiary.

Stoeva, Tchompalov & Znepolski

The commercial, corporate and M&A practice group forms a key pillar at boutique firm Stoeva, Tchompalov & Znepolski. Key lawyers include co-heads of practice and name partners Irina Stoeva and Iordan Tchompalov  . Stoeva was remarked upon for her ‘remarkable scope of knowledge and experience’, whilst Tchompalov is known as ‘a distinguished practitioner with communication skills and very good tactical approach’. The team focuses on M&A transactions and general corporate matters.

Practice head(s):

Iordan Tchompalov; Irina Stoeva


‘Natalia Yordanova is our point of contact with the firm. She is punctual and always with bright ideas how to challenge regulators’ coercive measures and penalty decrees – and these ideas very often work. We have used the services of the firm also in relation to shareholders’ meetings, related parties’ transactions, directors’ conflict of interests and other corporate advice. I would like to praise also Miroslava Iordanova and Tihomir Todorov, who are smart young knowledgeable lawyers and who work very hard for the firm’s clients and ultimately for the success of the firm.’

‘The law firm provides highly professional services from experienced lawyers having the expertise and motivation to meet the best criteria for quality of the work. Stoeva Tchompalov & Znepolski delivers timely, exhaustive and competent legal advice discussed from different perspectives and observing the highest standards in this area. The law firm reacts very quickly to legal changes.’

‘STZ team is a successful amalgamation of experience and youth. The team offers a great deal of creativity in solving our legal problems. I have never thought to look for other lawyers, because of my complete satisfaction with Irina’s team service, their accurate and practical advice rendered at very competitive rates. STZ advise on all business law areas that may concern our activity – public procurement, contractual and corporate law, employment law.’

‘I would like to strongly recommend Irina Stoeva and also Vania Todorova. Both have profound legal knowledge and remarkable analytical qualities for identifying the legal issue and deal with it in a challenging short term. I can also recommend Miroslava Iordanova and Tihomir Todorov as thoughtful and competent professionals, energetic and eager to improve themselves.’

‘The entire team is highly responsive, responsible, with attention to the detail, highly professional and with in-depth competences in the field of capital markets, corporate law and M&A.’

‘Iordan Tchompalov definitely stands out with his high professionalism, timely advice, flexible and out of the box approach.’

‘Natalia Yordanova is extremely good, I have worked mainly with her in several challenges of penalties imposed by the Financial Supervision Commission of Bulgaria. She is supported by younger lawyers, Miroslava Iordanova and Tihomir Todorov who look very knowledgeable, ambitious and available at any time for advice. We have also used the firm for general corporate work and my impressions for the deliverables are perfect.’

‘Very good service. STZ lawyers understand in depth corporate and commercial issues and are efficient and trustworthy. In contrast to other law firms in Bulgaria STZ combine the non-contentious advice with successful commercial dispute resolution practice. The work very well under pressure and meet tight deadlines. High quality for good value!’

Key clients

Eurohold Bulgaria AD


Electrohold group

SDI Group

Dialogue Plus

Industry Development Holding


Texim Bank

Alteron REIT

We Love Digi

Bolkan & Sea Properties



EU Consult

Work highlights

  • Advised Eurohold Bulgaria on the mandatory and voluntary tender offers addressed to the minority shareholders in its listed energy subsidiaries.
  • Assists Covington and Burling in London on the liquidation of the GlaxoSmithKlaine’s subsidiary in Bulgaria and the Bulgarian aspects of the change of the GSK commercial model to distributorship.
  • Advised a leading Bulgarian insurance broker and its shareholders on the contemplated sale of the company to the largest Polish insurance broker.

Eversheds Sutherland

M&A transactions, day-to-day corporate matters, restructuring and joint-venture agreements are among the capabilities offered by the team at Eversheds Sutherland. Managing partner Irina Tsvetkova co-leads the practice, and has over three decades of experience in advising domestic and multinational clients. She is supported by co-head Nikolay Bebov who focuses his practice on financial sector M&A transactions and leads on many of the firm’s large-scale M&A projects.

Practice head(s):

Irina Tsvetkova; Nikolay Bebov

Other key lawyers:

Eleonora Mateina


‘Brilliant lawyers. Very collaborative.’

‘Eleonora Mateina is a brilliant lawyer.’

‘I believe their partnership with Eversheds Sutherland in the future will contribute to the quality of the services provided.’

Key clients




Devnya Cement

EEMH – Eastern European Media Holdings


Japan Tabaco International


PVB Power

TCHIBO International

Transact Europe

Viterra Romania

Work highlights

  • Advised the sellers on the sale of 100% of the shares of Transact Europe Group to GreenBox.
  • Advised Alperia, Dolomiti Energia Holding, and Finest on the sale of PVB Power Bulgaria and five hydropower plants along the Iskar River in Bulgaria to Akuo Energy.
  • Advised Viterra Romania and its related entities, Agrosiloz, Bulgaria and Renaisco, the Netherlands, in the sale of the Bulgarian subsidiary to Farm Sense.

BWSP Ilieva Voutcheva & Co Law Firm

The practice group at BWSP Ilieva Voutcheva & Co Law Firm handles a full spectrum of corporate and commercial transactional work, including M&A, joint ventures and restructuring, most notably in the construction and real estate sectors. Diliana Ilieva leads the team, alongside co-head of practice Rossitsa Voutcheva.

Practice head(s):

Diliana Ilieva; Rossitsa Voutcheva


‘We have been working with Ilieva, Voutchva & Co for the last 5 years. We are very satisfied with the prompt responses and accurate reaction to all of the assigned tasks.’

‘What is important to us is that we are working with people, who are personally involved in our issues and that we can really rely on them.’

‘I work very well with the law firm. It is not big firm but I always receive very quick and competent advice.’

Key clients

Atlas Copco Bulgaria

Castello Precast

Element Project Company

Enery BG1




EDF Renewables


Seedent Partners

Tessa Energy

Smart Soft

Capitol Build


The ‘small team of top-notch lawyers’ at CERHA HEMPEL Gerginov utilises its international network to handle both domestic and cross-border mergers, joint ventures, reorganisations and corporate restructurings. The team is led by experienced practitioner and name partner Boyko Gerginov.

Practice head(s):

Boyko Gerginov


‘Exceptional team of qualified lawyers, providing practical and efficient support to complex issues.’

‘Very responsive, deep expertise, practical and straight to the point. Boyko Gerginov, Kalin Bonev particularly.’

‘The firm is interested in understanding clients business needs and can shape their service accordingly.’

‘Boyko Guerginov, Kalin Bonev both are excellent lawyers and 100% client oriented’

‘It is a relatively small team of top-notch lawyers with strong business insight and hands-on and friendly approach.’

‘The firm’s managing partner Boyko Gerginov is both a German and Bulgarian qualified lawyer with exceptional responsiveness. Out of all lawyers I have worked with, he stands out with the thoroughness of his analysis of a legal issue. Before giving advice, he dives into the matter and looks closely into every aspect of it.’

Key clients

Pierer E-Bikes

Pierer & Maxcom Mobility


HPE (Heweltt Packard Enterprise)

DXC Technology

HPI (Hewlett Packard Inc.)

Euralis Semences

Meta (Facebook)

Samsung Bulgaria



Work highlights

  • Advised Pierer E-Bikes and Pierer Mobility in relation to the establishment of a joint venture with the Bulgarian bicycle manufacturer Maxcom.
  • Advised Thyssenkrupp AG in relation to the sale of its worldwide plant technologies business including in relation to an internal corporate financing of one of the targets via share capital increase for the purposes of re-financing
  • Advise Meta (Facebook) in relation to the acquisition of a hardware engineering lab in Bulgaria. Advice included advice on regulatory, environmental, employment, corporate, health monitoring and other aspects related to the operation of the facility.

Ernst & Young Law Partnership

Ernst & Young Law Partnership handle a variety of mandates in the commercial and corporate space, offering services ranging from corporate restructuring to cross-border M&A transactions. As part of a global network spanning eighty countries, the team’s client base includes both domestic and international clients. Svetlin Adrianov is a key name in the practice group, as team leader with over two and a half decades of experience.

Practice head(s):

Svetlin Adrianov

Kinkin & Partners

Restructuring, M&A and day-to-day corporate advice are among the services offered by Kinkin & Partners . Notable practitioners include firm co-founder Vladimir Kinkin who leads the team and has over 30 years experience in the commercial, corporate and M&A space. Partner Adriana Nacheva  is another key point of contact.



Practice head(s):

Vladimir Kinkin

Other key lawyers:

Adriana Nacheva

Kolev, Angelov & Miteva Law Firm

Fledgling firm Kolev, Angelov & Miteva Law Firm is home to a burgeoning commercial, corporate and M&A practice group, under the guidance of experienced practitioners and team leaders Nikolay Kolev and Angel Angelov. The team focuses on all general corporate matters, including corporate governance and restructuring, alongside AML regulations, M&A deals and business organisations.

Practice head(s):

Nikolay Kolev; Angel Angelov


‘Very client oriented approach in every service we received. That’s a very valuable quality.’

‘The diversity of competences within the practice is what makes it stand out. The lawyers speak several languages, which is a must when working in an international environment.’

‘Nikolay Kolev has a proactive and timely approach, with a clear indication of the risks, how to reduce them and the benefits and gives different options according to the desired goal.’

Key clients

CETIN Bulgaria EAD, member of PPF Group Yes

ATN Europe

BinBin Bulgaria

Bin Ulaşım ve Akıllı Şehir


Valeriia Zhyliova

Canpipe Industries International

Titan Machinery Bulgaria

Evklips Energy

Dilyana Show

Murgova & Partners Attorneys at Law

A team of ‘great professionals’, the corporate, commercial and M&A practice at Murgova & Partners Attorneys at Law advise its roster of clients on day-to-day corporate matters and regularly receive mandates across the IT, real estate and construction sectors. ‘Highly skilled’ founder and managing partner Petya Murgova heads the team.


Practice head(s):

Petya Murgova; Alexander Moskov

Other key lawyers:

Silvana Dzharkova-Aleksandrova; Simeon Krastev


‘Great attitude and very willing to assist anytime, with professional manner.’

‘They work hand in hand and are very pleasant to work with.’

‘Very reliable, easy-going and in-depth analysis of the matters. Also very well connected with local authorities.’

Key clients

PIM Haskovo

Application Mart

Simonas Cards

Property Assets

Artex Zlaten

Artex Engineering

Lemi Trafo


Nemuno Banga

Viber Media Bulgaria

Viber Luxembourg


DM Services

Balkan services

Mars Armor

Unique Estates

VIA Architects

Go Grill

White Water

Navtex Group

Slavi Toys



Via Holistica

Work highlights

  • Provided the full scope of legal services to Viber Bulgaria related to the incorporation of the Bulgarian subsidiary of the client, including advising the client all corporate, commercial and labour issues arising in the day-to-day business in Bulgaria.
  • Advised Kreon Bulgaria during the whole start up process of their business in Bulgaria.
  • Provided PIM HASKOVO with the full scope of legal services including drafting corporative agreements for sale and distribution of the equipment.

Penkova & Partners Law Firm

The team at Penkova & Partners Law Firm advises on general commercial, corporate and M&A matters including restructuring, commercial contracts and dispute resolution on behalf of domestic and international clients. Victoria Penkova heads up the practice group and is a key point of contact.

Practice head(s):

Victoria Penkova

Other key lawyers:

Diana Milkova


‘The law firm shows competency in the Bulgarian as well as international legal standards. The team is extremely responsive and at our disposal when needed. They understand the needs of both our entities: the Bulgarian and the American.’

‘The lawyers that we work with most are Diana Milkova and Victoria Penkova. Diana understands our business and day-to-day operations. She has become a valuable partner and her quality advice is of great benefit to our company. She is very flexible and always available to provide support and expertise. Victoria has provided valuable input on our legal matters. She has shown us that we are a valued customer and has been there to address any questions we have.’

‘We have been relying on the counsel of Duylgerova & Penkova Law Firm for years. In rendering their services of excellent quality, the team has proven their competence, knowledge and commercial-oriented approach. The lawyers at Duylgerova & Penkova Law Firm support us with day-to-day legal advice on multiple matters in the fields of corporate, commercial, civil, and employment law. We value the team’s attention to detail, responsiveness, dedication and the comprehensiveness of their counsel.’

‘Victoria Penkova is a competent lawyer who offers quick and efficient solutions to the issues she has been tasked with, in particular issues relating to corporate, commercial and employment agreements.

Yavor Tankov is another lawyer at Dyulgerova & Penkova Law Firm, whom we trust in providing the necessary legal support in our day-to-day business activities.’

‘The team is very collaborative in every aspect. Working very closely with the client helps the team to understand the specifics and the details in each case. The information received from the team is always with the latest updates. They are always well informed and willing to share their professional experience in order make the process smoother and faster.’

‘They are always responding on time and very fast in their response. Every time they collect information in advance and share their future vision in detail, which helps the client to understand the needs and eventual results. The proactive approach is really something that is highly valuable and the team always works in that direction.’

Key clients


A-LIGN Compliance and Security

Adidas Bulgaria

PKF Bulgaria

Balkan Properties Bulgaria

MA Creative

EXLService Bulgaria

GK Bulgaria

Adecco Bulgaria


Berg Montana Fittings

Montana Hyudraulics

Work highlights

  • Advisied A-LIGN on its day-to-day business, as well as on corporate matters.
  • Provided ongoing day-to-day advice to Adidas Bulgaria.
  • Advised Berg Montana Fittings on the conclusion of commercial contracts and day-to-day business activities.

Popov, Arnaudov & Partners

Popov, Arnaudov & Partners is frequently instructed on M&A transactions, and provides day-to-day commercial and corporate services to its client base. The team is led by co-heads of practice Sibina Eftenova, Emiliyan Arnaudov and managing partner Galin Popov.

Practice head(s):

Sibina Eftenova; Emiliyan Arnaudov; Galin Popov


‘We assigned to the law firm various cases in the fields of corporate and M&A, IP and TMT, real estate and disputes.’

‘Sibina Eftenova particularly stood out, as her careful planning and organizational ability allowed for the quick resolution of any outstanding issues and her assistance was crucial in finalizing the relevant legal procedures. Additionally, Bozhko Poryazov provided significant assistance in managing the relevant real estate affairs.’

Stankov, Todorov, Hinkov & Spasov

Stankov, Todorov, Hinkov & Spasov ‘s team of practitioners act on a range of general commercial and corporate law matters, M&A and concessions, notably, in the pharmaceutical, IT and construction sectors. Mihail Stankov and managing partner Teodor Todorov  head the practice group. Simeon Hinkov is another key contact within the team.

Practice head(s):

Mihail Stankov; Teodor Todorov

Other key lawyers:

Simeon Hinkov

Key clients

Oxford Integrated Logistics

State Agriculture Fund


State Consolidation Company

Municipal Bank


Inter Cars Bulgaria

Ford Moto Pfohe

Bulgarian Football Union

Besta Med

Max Covering

Realfin Bulgaria

Fish Invest





Baka 357


Slovenian Embassy in Sofia


Paralax Life Sciences

Marsfeld Railways Logistics

Work highlights

  • Advised one of the largest logistics companies in Bulgaria in its investment project for building one of the biggest logistics hubs on the Balkans.
  • Advised Bulgarian Football Union on the legal and regulatory matters of the VAR System implementation in Bulgaria and the negotiations with the provider Hawk-Eye Innovations.

Tokushev And Partners Law Office

The corporate, commercial and M&A practice at Tokushev And Partners Law Office is a cornerstone of the firm. Providing corporate advice to clients in the financial sector continues to be a specialism of the team, but they also handle a growing number of M&A mandates. Viktor Tokushev and Ivan Antov  jointly head the practice group.

Practice head(s):

Viktor Tokushev; Ivan Antov

Other key lawyers:

Boris Teknedzhiev


‘Personal relation and dedication and the will to understand the underlying challenges to provide the best solutions; every time available for clients, very pragmatic.’

‘Boris Teknedzhiev is always available, willing to help with all business challenges, and a partner in good and at bad times. Incredibly trustworthy!’

Key clients

M2 Prom


Invest Fund Management

AM Petroleum



Orgachim Resins



BGI Group

Dunav Trans

East Golf Properties

Danone Bulgaria

Pharmalex Bulgaria

Innovation Capital

KBC N.V. Branch Bulgaria

Work highlights

  • Advised M2 Prom and its Founders in a takeover by Lindera.
  • Provided legal counsel to a group of investors that acquired ELEKTROIMPULS 2020.
  • Guided a transaction regarding YUG Market AD and YUG Market Fund Management AD that saw the shareholders in both companies sell all their shares to a single buyer.