Kinstellar > Sofia, Bulgaria > Firm Profile

Kinstellar
69 BULGARIA BLVD
INFINITY TOWER, 14TH FLOOR
1404 SOFIA
Bulgaria

Bulgaria > Banking, finance and capital markets Tier 1

Kinstellar covers a broad scope of work, including financing, payments and fintech advice, support with regulatory and compliance questions, as well as transactional work. International financial institutions, development banks, fintech companies as well as payment service providers entrust the team on a wide spread of work. Svilen Issaev has particular experience representing lenders and borrowers in complex financing transactions and leads the Sofia practice, and Diana Dimova is head of the firm-wide financial institutions group and advises on a range of corporate matters. Denitsa Kuzeva is another key name in the banking and finance department.

Practice head(s):

Svilen Issaev

Other key lawyers:

Diana Dimova; Denitsa Kuzeva

Testimonials

‘Consistently high level of service provided by the team.’

‘Good depth of the team with a broad expertise and ability to handle complex matters.’

‘Always thoughtful and very responsive, on top of the detail while at the same time maintaining a strategic view and practical guidance.’

‘Strong practitioners both from a technical as well as practical perspective.’

‘Diana Dimova: brings commercial acumen and the level of advice needed at any given stage in an instruction. Provides excellent service and understands the industry well. Proactive, tenacious and extremely hard-working.

‘Svilen Issaev  provides clear and pragmatic advice. Comes in with a great understanding of clients’ needs, offering very user-friendly advice. Up-to-date knowledge on all key regulatory issues. Very hands-on and solutions-oriented.’

‘Robust cross-border banking and finance expertise with immense experience on the market. The team includes lawyers who are the first ones on the market to test and close large-scale financing despite various local legal and other challenges and to pave the pathway to further transactions.’

‘Denitsa Kuzeva is always there for her clients and is always on top of things.’

Key clients

KBC Bank NV

United Bulgarian Bank

European Bank for Reconstruction and Development

NovEnergia

Lion’s Head Investments AD

European Investment Fund

SOF Connect

European Investment Bank

First Investment Bank

Work highlights

  • Advised United Bulgarian Bank on the merger of KBC Bank Bulgaria EAD (ex Raiffeisenbank (Bulgaria)) with United Bulgarian Bank (UBB – the Bulgarian subsidiary of KBC Bank).
  • Advised the European Bank for Reconstruction and Development on several loans to water utility companies under the EUR 200 million Bulgarian Water Sector Financing Framework.
  • Advised Lion’s Head Investments on the refinancing of investment loans by UniCredit Bulbank, provided to Polygraphia Office Centre and Megapark.

Bulgaria > Commercial, corporate and M&A Tier 1

Kinstellar is well equipped to handle large M&A transactions across the financial services, telecommunication, technology, energy and real estate sectors. The team, led by practice head Diana Dimova advised the Saudi Arabian telecom company TAWAL in their acquisition of the tower assets of United Group B.V. across southeastern Europe, which has been valued at EUR 1.2 billion. Dimova is well versed in corporate and M&A matters, private equity transactions and infrastructure projects. Nina Tsifudina jointly leads the practice alongside Dimova and works closely with global IT companies, private equity and venture capital companies on a range of corporate and commercial matters. Atanas Mihaylov additionally brings expertise in corporate reorganizations and entry into the Bulgarian market to the team.

Practice head(s):

Diana Dimova; Nina Tsifudina

Other key lawyers:

Atanas Mihaylov; Antonia Mavrova

Testimonials

‘Eager to assist and highly knowledgeable. Diana Dimova, Antonia Mavrova and Nina Tsifudina are all exceptional.’

‘Diana Dimova is hands down the best M&A lawyer in Bulgaria. Diana helped meet a ridiculously tight deadline to signing with superb and practical advice.’

‘Nina Tsifudina is a super technical and commercial lawyer.’

‘Kinstellar really have an edge for exceptional client experience – one of the best firms I have worked with anywhere for skill level of lawyers, insights into industry and commitment to solving problems.’

‘Great team comprised of strong professionals. Very proactive and forward looking.’

Key clients

TAWAL

YouGov

Levine Leichtman Capital Partners

KBC Bank

OCP SA

52 Entertainment

Nielsen Consumer

ZOO Group Stefanov LLC

Muehlhan AG

Yanolja Cloud Pte. Ltd.

DUAL Europe GmbH

FT Publications

UKG

Work highlights

  • Advised TAWAL on the acquisition of the tower assets of United Group B.V. for EUR 1.2 billion.
  • Advised KBC Bank on the merger between KBC Bank Bulgaria and United Bulgarian Bank following KBC’s acquisition of Raiffeisenbank Bulgaria.
  • Advised YouGov plc on the acquisition of the European Consumer Panel Business of GfK, a German for EUR 315 million.

Bulgaria > Real estate and construction Tier 1

Kinstellar covers a multitude of matters across the real estate and construction space, including major property acquisitions, commercial leases for clients in various sectors and regulatory advice. The firm has particular strength in advising international real estate investors on investment structuring and the acquisition of real estate portfolios, entry into the Bulgarian market, and various planning and zoning matters. Antonia Mavrova is the practice head and brings extensive knowledge of lease agreements and retail, logistics and office projects to the team. She is supported by Atanas Mihaylov and Mladen Minev, who add to the firm's ‘strong expertise in real estate and deep knowledge of the Bulgarian market’.

Practice head(s):

Antonia Mavrova

Other key lawyers:

Testimonials

‘Kinstellar offer a very good service level and respond quickly. They keep an eye on the market and all legal developments and are always ready to think outside the box and provide creative solutions. Their advice is commercial and practical, while at the same time safeguarding our interests.’

‘Antonia Mavrova is not only diligent and proactive, but also very commercially aware and thinks one step ahead. She is very client-focused and has a passion for the industry. Antonia is very knowledgeable in a wide variety of real estate transactions and provides great advice on all aspects of the project.’

‘Mladen Minev is a very strong professional, knowledgeable and highly reliable. He has a strategic approach and is excellent when it comes to complex cases with high stakes.’

‘I have always been delighted to work with Kinstellar’s competent and dedicated team. With their strong expertise in real estate and deep knowledge of the Bulgarian market, they manage to deliver an excellent level of service. They are very knowledgeable of the specific market practices and handle complex projects with ease.’

‘Antonia Mavrova is one of the most experienced and reputable lawyers in the real estate field. She is really a step ahead in terms of market knowledge. I have also worked with Atanas Mihaylov and Mladen Minev. Atanas brings a high level of service that helps build a high level of trust with the client. Mladen is excellent and I have absolute faith in his technical ability. He proactive in his advice and always aware of issues that may impact the business.’

‘The team has strong leadership and expertise which flows down to its more junior members. I highly appreciate their commercial way of thinking. They have excellent depth of knowledge and give clear and concise advice that is easy to understand.’

‘Atans Mihaylov is incredibly knowledgeable, with complete understanding of our business. He displays excellent appreciation of the client’s interests and is able to see the benefits and risks of each deal. Atanas focuses on getting the best result for his client.’

‘We are extremely pleased with the outstanding legal support we received from Kinstellar. We couldn’t be happier with the results and the professionalism of the whole team – they exceeded our expectations in every aspect.’

Key clients

TAWAL

CTP Invest

CTPark Kappa EOOD

Global Trade Center

Allianz Bulgaria Holding

Mеrkle

HAVI Logistics

Lion’s Head Investments AD

KBC Bank NV

Work highlights

  • Advised HAVI Logistics on the negotiation of a key long-term lease agreement for a distribution centre that is being built for HAVI’s supply chain.
  • Advised CTP on five real estate acquisitions in Bulgaria, including the latest acquisition of four land plots in the area of Plovdiv for the extension of CTP’s logistics facilities.
  • Advised Lion’s Head Investments on the up to approximately EUR 100 million refinancing of investment loans provided by UniCredit Bulbank.

Bulgaria > Dispute resolution Tier 2

Kinstellar‘s cross-practice dispute resolution team is well equipped to handle complex disputes pertaining to the energy, insurance, tax, employment and real estate sectors. The team is also regularly engaged in multi-jurisdictional matters, including working for domestic and foreign investors or being engaged by international law firms, as local counsel. Antonia Mavrova is well versed in real estate litigation and has intricate knowledge of Bulgarian environmental regulations while Mladen Minev has extensive experience in commercial, civil and administrative arbitration; together they head the team. Radoslav Chemshirov left the firm in June 2023.

Practice head(s):

Antonia Mavrova; Mladen Minev

Other key lawyers:

Atanas Mihaylov

Testimonials

‘Friendly and efficient service.’

‘The practice group is very committed and reliable. The team is composed of top lawyers in many different areas, which helps it to deal with complexity.

‘Mladen Minev is super-technically prepared. He knows the clients and is always able to provide updates on relevant developments. He offers incredible availability and responsiveness and guarantees high competence in complex issues. Very competent at getting the result that you want. Skillful in many areas of law.’

‘I have a long professional relationship with Kinstellar’s dispute resolution team built on trust and true professionalism. I highly value their ability to provide business-driven solutions, carefully considering the client’s needs and priorities.’

‘Atanas Mihaylov is an excellent negotiator and manages to stay calm even in the most intense discussions. He can really think outside the box and always finds the best solutions for the clients. Mladen Minev demonstrates full commercial awareness and is very considerate of the client’s needs and goals. His professionalism and level of commitment are truly admirable. Antonia Mavrova is outstanding and truly engaged with her clients. She also has incredibly commercial acumen and offers the best path to a project’s completion or dispute.’

‘It is a very efficient and pragmatic firm, providing extraordinary and fine-tuned legal advice. The team members are responsive and passionate for their work. All my dealings with Kinstellar’s team have demonstrated the breadth of talent and skill available.’

‘Atanas Mihaylov is a highly experienced lawyer who understands the commercial realities of litigation and focuses on the practical result the client wants to achieve. Atanas has a wide breath of knowledge, and I would always trust his advice and recommendations.’

Key clients

NovEnergia

Norton Rose Fulbright

Work highlights

  • Defended Galleria Burgas in two arbitration disputes before the Arbitration court of the Bulgarian Chamber of Commerce and Industry.
  • Advised GEMA 96 S.p.A. Italy during legal proceedings related to a fraudulent transfer of real properties owned by Gema in Bulgaria through the use of falsified documents.
  • Represented NovEnergia in a dispute with the Energy and Water Regulatory Commission.

Bulgaria > Energy and natural resources Tier 2

Kinstellar is noted for its capabilities advising on PPPs and greenfield projects, including high-end solar and wind energy projects, next to which they frequently advise on regulatory issues in the energy sector across multiple jurisdictions.  The global firm draws on the expertise of its practitioners in various practice areas, notably finance, real estate and corporate to provide a full-service offering to its energy clients. Diana Dimova and Mladen Minev are joint practice heads, the former focuses on corporate and M&A aspects and the latter handles the full spectrum of energy regulation and policy.

Practice head(s):

Diana Dimova; Mladen Minev

Testimonials

‘My overall experience with the Kinstellar team has been exceptionally positive and I would not hesitate to recommend their services. They put in the time and effort necessary to build a strong strategy and are dedicated to achieving the best possible outcome.’

‘Mladen Minev’s depth of knowledge is truly impressive. Throughout our work together he consistently demonstrated a thorough understanding of the complex regulations, as well as of the industry dynamics that govern the energy sector. I am impressed with his commitment and outstanding problem-solving skills.’

‘Kinstellar’s team demonstrates top-class legal knowledge in the field of energy and natural resources matters. Their experience in the sector, combined with a business-oriented approach, helps them provide tailored solutions to very complex matters. They handle challenges with a positive attitude and high efficiency.’

‘When it comes to complex projects Counsel Mladen Minev is the go-to lawyer for our firm. With his in-depth understanding of the energy sector and superior industry knowledge he brings every project to a successful conclusion. He has high appreciation for client objectives and is very easy to communicate with.’

Key clients

Direct Petroleum Bulgaria

Private Equity Fund GROWTH

Winslow Solar 2022 AD

Enery Group

NovEnergia

SOF Connect AD

Work highlights

  • Advised renewable energy investor Private Equity Fund – Growth on a 10-year power purchase agreement (PPA) between an industrial consumer and a renewable energy producer for direct purchase of green energy.
  • Advised Winslow Solar 2022 AD on the acquisition of a 36 MW photovoltaic power station project which is currently under development.
  • Advised Enery on the establishment of a local electricity trading business.

Bulgaria > TMT Tier 2

The Kinstellar TMT team impresses clients with its ‘level of understanding of the industry and ability to anticipate and adapt to new developments in the sector’, covering large, complex telecoms-related transactions across the SEE and CEE regions and offering comprehensive advice on telecoms regulations, and media, advertising and digital services, as well as data protection issues and GDPR projects. Practice co-head Georgi Kanev has expertise in IP and IT matters, as well as in the emerging fields of entertainment and gaming. Anita Borisova and Debora Dineva are also key lawyers in the TMT team, which was further bolstered by the arrival of co-head Milka Ivanova from Djingov, Gouginski, Kyutchukov & Velichkov in November 2023.

Practice head(s):

Georgi Kanev; Milka Ivanova

Other key lawyers:

Testimonials

‘The team demonstrates the highest level of professionalism. Their flexible approach makes any challenging process much more manageable. Their ability to analyse complex legal issues and provide clear guidance is invaluable. Furthermore, given the time-sensitive decisions that need to be made in this sector, their quick and effective communication is very useful. They have a strong commitment to client success. Their focus is always on finding innovative and practical solutions that best meet the client’s needs.’

‘Georgi Kanev’s deep understanding of the TMT sector, coupled with his responsiveness and result-oriented approach, are at the core of his exceptional legal services. We greatly appreciate his ability to deliver creative solutions in a timely manner. His professionalism and ethical standards are inspiring and set a very positive example.’

‘Kinstellar were recommended to us due to their subject matter expertise in European privacy and GDPR matters. We have been thoroughly impressed by the depth of talent we’ve been exposed to at the firm. We always felt appropriately looked after as a client, and never felt they were over-servicing us beyond what was practically needed for the scope of work. A great experience overall.’

‘Georgi Kanev and Debora Dineva were fantastic to work with on many fronts. From the get-go, they were super transparent about the process and the roadmap, and we always found them to be generous with their time and approach to working with us. We had no negative surprises and found them to be professional and respectful of our time and resources.’

‘I am impressed with the Kinstellar TMT team’s level of understanding of the industry and ability to anticipate and adapt to new developments in the sector. They are very responsive and solution oriented. The team has shown strong and deep knowledge of the legislation and are well suited for handling complex matters.’

‘My main contact in the TMT team is Georgi Kanev. He is very inventive and motivated to find the best solutions for the client. Georgi has an outstanding level of knowledge of data protection. I highly value his appreciation of the commercial aspects of the deal and his attention to detail.’

Key clients

TAWAL

52 Entertainment

UKG

Work highlights

  • Advised TAWAL on the acquisition of the tower portfolio of United Group B.V.
  • Advised UKG on the acquisition of Immedis Ltd.
  • Advised 52 Entertainment on the acquisition of gaming development studio Casualino and its subsidiary Zariba.

Bulgaria > Intellectual property Tier 3

Kinstellar covers various IP matters but has particular expertise in advising on the IP rights of UK and US companies outsourcing work to Bulgarian subcontractors, for example copyrighted works such as software solutions. To this end, the firm is frequently approached by tech companies, but also works with cryptocurrency exchanges and gaming companies, which is an area of expertise for Georgi Kanev, who also frequently covers IP issues relating to M&A matters.

Practice head(s):

Georgi Kanev

Testimonials

‘They were fast, competent and correct in their answers to my questions.’

‘Communication with the customer and the quality of their legal advice was of an extremely high level.’

Key clients

Chaos Group

Launcher Inc

Covantis

KASTA CCHS LTD

52 Entertainment

Financial Times

ZOO Group Stefanov LLC

UKG Inc.

Work highlights

  • Advised 52 Entertainment on the acquisition of Bulgarian gaming company Casualino AD and its subsidiary Zariba EOOD.

Bulgaria > Projects and PPP Tier 3

Kinstellar‘s strengths include energy and renewable energy projects, telecoms M&A, real estate projects, and PPP and concessions, where the team continues to work on various legal matters relating to the concession of Sofia Airport. The team led by Diana Dimova and Antonia Mavrova frequently advises international investors, developers and banks.

Practice head(s):

Antonia Mavrova; Diana Dimova

Key clients

TAWAL

CTP Invest

CTPark Kappa EOOD

Global Trade Center

Winslow Solar 2022 AD

SOF Connect AD

Work highlights

  • Advised Tawal on the acquisition of the telecoms towers of United Group.
  • Advised CTP on five real estate acquisitions in Bulgaria, including the latest acquisition of four land plots in the Plovdiv area for the extension of CTP’s logistics facilities.
  • Advised Winslow Solar 2022 AD on the acquisition of a 36MW PV project in Bulgaria which is currently under development.
Photo Name Position Profile
Diana Dimova photo Diana Dimova Managing Partner and co-head of M&A, Corporate & Private Equity in Sofia.…
Svilen Issaev photo Svilen Issaev Counsel and head of Banking, Finance and Capital Markets in Sofia. He…
Milka  Ivanova  photo Milka Ivanova Of Counsel
Georgi Kanev photo Georgi Kanev Managing Associate and head of IP, IT and Data Privacy in Sofia.
Denitsa  Kuzeva photo Denitsa Kuzeva Senior Associate
Antonia Mavrova photo Antonia Mavrova Partner, firm-wide Head of the Automotive and Industrials sector,  head of Real…
Atanas Mihaylov photo Atanas Mihaylov Counsel and head of Tax and Restructuring & Insolvency in Sofia. Atanas…
Mladen Minev photo Mladen Minev Counsel, head of Energy and Natural Resources and co-head of Dispute Resolution…
Milka Nikolova photo Milka Nikolova Of Counsel and head of Telecommunications in Sofia
Nina Tsifudina photo Nina Tsifudina Partner, co-head of M&A, Corporate & Private Equity and firm-wide co-head of…