CMS > Sofia, Bulgaria > Firm Profile
CMS Offices
14 Tsar Osvoboditel Blvd.
1000 SOFIA
Bulgaria
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CMS > The Legal 500 Rankings
Bulgaria > Banking, finance and capital markets Tier 1
CMS is well positioned to advise on cross-border matters, and the team is frequently involved in high-profile cross-border transactions, where it draws on its knowledge of English and German law to coordinate international deals out of Bulgaria. The firm has considerable experience representing clients on both the borrower and lender side of deals, and counts international financial institutions, commercial banks, private equity firms and fintech companies among its regular clients. The team is led by Gentscho Pavlov and Dimitar Zwiatkow, who specialise in advising banking M&A transactions and large-scale portfolio transactions, and Elitsa Ivanova, who is a dual qualified Bulgarian and English lawyer and routinely advises on cross-border mandates. Further strengthening the team is head of capital markets Katya Todorova and finance expert Ivan Gergov, who made partner in July 2023. In February 2024, Konstantin Altandzhiyski joined from Wolf Theiss.Practice head(s):
Elitsa Ivanova; Gentscho Pavlov; Dimitar Zwiatkow
Other key lawyers:
Katya Todorova; Ivan Gergov; Konstantin Altandzhiyski
Testimonials
‘Highest professional standard applied consistently by team on the ground.’
‘Quick access to specialised knowledge and expertise.’
‘Very strong customer relationship.’
‘Consistently demonstrating quality and highest professional standard.’
‘Partner availability and engagement is outstanding.’
Key clients
Atradius Collections
B2Holding
DSK Bank
Erste Bank der österreichischen Sparkassen AG
UniCredit S.p.A.
Work highlights
- Advising B2 Holding ASA, a leading pan-European debt company, on a number of structuring and servicing issues, related to a financing in the form of issuance of senior notes.
- Advising Erste Bank der österreichischen Sparkassen AG in connection with the EUR 47 million financing of a shopping mall located in Sofia.
- Advising Atradius Collections BV, a Netherlands-based debt collection services company, on the acquisition of the Bulgarian subsidiary of Pro Kolekt, a Slovenian-based debt collection company.
Bulgaria > Commercial, corporate and M&A Tier 1
Private equity, TMT, energy and banking and finance are some of the sectors in which the corporate and commercial team at CMS are active - it assists clients with both the buyer and seller side of complex M&A transactions and advise foreign companies on entry to and exit from the Bulgarian market. M&A expert Atanas Bangachev leads the practice, alongside Gentscho Pavlov and Dimitar Zwiatkow , who specialize in M&A and restructuring, and large-scale portfolio transactions respectively. Assen Georgiev, Nevena Radlova and Veliko Savov are also key points of contact.Practice head(s):
Atanas Bangachev; Assen Georgiev; Dimitar Zwiatkow; Gentscho Pavlov; Nevena Radlova
Other key lawyers:
Testimonials
‘Dimitar Zwiatkow has been diligent in his work and has been able to assist us in closing transactions in a timely manner.’
‘Nevena Radlova is an outstanding person. She is an expert on broad range of commercial law matters such as regulatory matters, licensing, data protection and business agreements review. She also advised us on merger control and merger clearance, anti-trust and compliance matters, as well as on marketing campaigns.’
‘The CMS team has been able to find good solutions on complex topics, coupled with a good commercial understanding.’
‘Highly professional team, very knowledgeable and responsive.’
Key clients
YGY Industries
CTP Invest spol. s.r.o.
KJK Sports
Musala Soft AD
EBRD
Johnson & Johnson
EKO Bulgaria EAD
Atradius Collections
B2 Holding
H&M
Pontus Partners
Work highlights
- Advised CTP Invest spol. s.r.o. on the acquisition of Transcapital and Transcapital Ring Road, large logistics business in Sofia, consisting of land of an aggregate area of c. 340 559 sq.m. and over 10 logistics buildings located on such land in two locations in Sofia.
- Advised the shareholders in Musala Soft AD on their 100% exit by sale to ARICOMA Group, part of KKCG.
- Advised B2 Holding ASA with respect to a EUR 90 million deal relating to the entire sale process of its Bulgarian subsidiary “Debt Collection Agency” JSC.
Bulgaria > Dispute resolution Tier 1
CMS is well regarded for its experience in litigation and arbitration proceedings, both domestic or international, where the team addresses disputes relating to contracts and tort law as well as assisting with the security of claims being made and enforcement proceedings. The team is noted for its sectoral expertise in IP, insurance and employment litigation, and has recently been involved in commercial disputes, public procurement and confiscation claims. The team is jointly led by Assen Georgiev and Antonia Kehayova , while Georgiev covers litigation and alternative dispute resolution cases, Kehayova is well versed in commercial and public procurement litigation.Practice head(s):
Assen Georgiev; Antonia Kehayova
Other key lawyers:
Anna Tanova; Yana Antonova
Testimonials
‘CMS Sofia serves us on a broad range, covering anything from regular insurance claims to highly specific disputes relating to investments. What impresses us is their ability to put together strong teams of experts, each time selecting the best professionals for the topic at hand. Their team is diverse and follows the firm’s professional standards in all aspects.’
‘CMS takes the time to understand the business, both in terms of financials, but also in terms of relationships. The lawyers are subject matter experts and effective listeners.’
Key clients
Xylem Water Solutions Sweden AB
Bulgarian National Bank
ZAD Allianz Bulgaria
Two Bulgarian holding companies
Espe Energy Bulgaria AD
Smart bioenergy GmbH
CHS Bulgaria EOOD
Work highlights
- Representing Xylem in settling a commercial dispute with a Bulgarian hydropower producer before the ICC International Court of Arbitration.
- Successfully defended an ex-minister of the government of the Republic of Bulgaria in conflict-of-interest proceedings before the Commission for Anti-Corruption and Illegal Assets Forfeiture.
- Representing Espe Energy Bulgaria in court in relation to several complex litigation procedures related to a commercial claim for annulment of a contract for sale of a commercial enterprise.
Bulgaria > Energy and natural resources Tier 1
CMS‘ energy team is highly regarded for its breadth of expertise ranging from the construction and purchase of renewable energy facilities, environmental questions, public procurement processes and energy related arbitrations. Among its client roster are various Bulgarian and international energy and infrastructure companies including nuclear energy companies, oil and gas companies and investors in the area. The practice is jointly led by Kostadin Sirleshtov and Dimitar Zwiatkow . Sirleshtov is head of energy and climate change and is an expert in various energy sources, such as nuclear, renewables and oil and gas, while Zwiatkow focuses on projects, PPPs and public procurement along with renewables.Practice head(s):
Kostadin Sirleshtov; Dimitar Zwiatkow
Other key lawyers:
Denitsa Dudevska; Diyan Georgiev; Borislava Piperkova
Testimonials
‘CMS are professional, trustworthy and they understand the business and it’s problems. This makes it simply easy to work with them!’
‘High level involvement from the team members and management. Smooth and easy communication; high commitment to the assigned task. Excellent knowledge in the specific subject and the specifics of the Bulgarian legislation.’
‘We mostly worked with Mr. Kostadin Sirleshtov (Managing Partner) and Mr. Diyan Georgiev (Associate). Both team members were very committed to the specific task that was asked by us despite the urgent character of it and their professional workload. They showed high expertise with the topics in the area of energy efficiency and financing such projects. This distinguish them from the other companies in the energy topics.’
‘Kostadin Sirleshtov, Borislava Piperkova are both solution-oriented, they give mutual trust & respect and are highly engaged.’
‘A great team of professionals, with extensive expertise in the oil & gas industry. They provide very prompt and client-oriented advice in relation to our offshore oil & gas project in Bulgaria.’
‘Kostadin Sirleshtov (Partner) – exquisite professional, extensive expertise in the oil & gas sector, very client-oriented, strong connection with relevant authorities.’
‘Denitsa Dudevska (Senior Associate) – high quality professional, very knowledgeable in the oil & gas legislation, provides high standard legal advice and very promptly.’
Key clients
YGY Industries
RGREEN INVEST
RES Technology and/ ASM-BG Investments
Nikan Agro
Aksa Enerji
Vestas Development
Astronergy Solar Development
EKO Bulgaria
Enka İnşaat ve Sanayi A.Ş.
Work highlights
- Advised YGY Industries on the sale of the 229-megawatt St. George greenfield solar plant in Bulgaria’s Silistra municipality to Rezolv Energy.
- Advised Vestas Development on the due diligence of a large greenfield wind portfolio, negotiations with local developers and acquisition of two local projects of 600 MW.
- Advised Nikan Agro on the acquisition of 100 MW green field photovoltaic project and its licensing.
Bulgaria > EU and competition Tier 1
CMS covers the full array of competition matters, with Bulgarian and European antitrust, multijurisdictional merger control and unfair competition regulation standing out as practice strengths. The firm excels across a variety of industries, among them energy and renewables, banking and finance, technology and cosmetics. Nevena Radlova leads the practice and regularly assists international clients across central and eastern Europe on compliance with competition laws. Anna Tanova is another key member of the competition practice and is especially active in the IT and Media sectors.Practice head(s):
Nevena Radlova
Other key lawyers:
Testimonials
‘Extremely knowledgeable and hardworking team, and always available to provide you with any information necessary.’
‘Nevena Radlova is an outstanding person; she knows our business well and can easily understand the issues we face and come up with a practical solution. She is extremely knowledgeable, reliable and responsive. Great pleasure to work with!’
Key clients
Smartcom Bulgaria
EKO Bulgaria
Syngenta Bulgaria
Avon Bulgaria
Work highlights
- Represented Smartcom Bulgaria AD with regard to the preparation and filing of an appeal with the Commission for Protection of Competition (CPC) against a decision for opening a public tender in the field of IT and Telecommunications for an estimated value of BGN 18 million including representation of the client before the CPC and the Supreme court.
- Updated EKO Bulgaria’s Competition Compliance Program and training on competition law; obtaining merger clearance from the national competition authority in relation to assuming of control by EKO on a lasting basis over various petrol stations; advice on advertising campaigns.
- Advised Syngenta on a competition and dawn raid training, competition compliance matters in relation to the company’s daily business.
Bulgaria > Projects and PPP Tier 1
CMS' energy, projects and construction practice group maintains a strong position in the Bulgarian infrastructure projects sphere, with the firm demonstrating expertise across railway, oil and gas, and renewables infrastructure projects. The firm advises on all manner of tender documentation, procedures for construction work, and public-private partnerships, as well as assisting with the structuring of projects and their financing. A recent notable work highlight was the firm’s involvement in a successful public procurement procedure on behalf of Czech consortium Škoda Transportation and Škoda Vagonka for a contract working on the subway infrastructure in Sofia. Head of energy, projects and construction Kostadin Sirleshtov and Dimitar Zwiatkow, who specialises in project finance, regulatory matters and energy mandates, jointly lead the practice.Practice head(s):
Kostadin Sirleshtov; Dimitar Zwiatkow
Other key lawyers:
Denitsa Dudevska
Testimonials
‘A great team of professionals, with extensive expertise in the oil and gas industry. They provide very prompt and client-oriented advice.’
‘Kostadin Sirleshtov is a superb professional. He is very client oriented and has strong connections with the relevant authorities.’
‘Denitsa Dudevska is a high-quality professional, who is very knowledgeable about oil and gas legislation, provides legal advice to a high standard and is very prompt.’
Key clients
OMV Petrom, Total
Vier Gas Transport GmbH
BayWa r.e. Solar Projects GmbH
Vestas Development
Agroconsult
SC CIGA Energy SA
Unicorn Systems a.s.
Škoda
Work highlights
- Advised Vier Gas Transport GmbH on in the preparation, application and bidding processes of a public procurement procedure held by the Bulgaria-Greece gas interconnector company – ICGB AD.
- Supported Czech consortium Škoda Transportation and Škoda Vagonka in its successful participation in the public procurement procedure held by Metropoliten Sofia.
- Assisted Vestas Development with the due diligence on a large greenfield wind portfolio, negotiations with local developers and the acquisition of local projects.
Bulgaria > Real estate and construction Tier 1
Logistics, retail, construction and materials, energy and insurance are among the industries in which the extensive client base of the CMS real estate and construction team is active. The mandates handled by the team cover a broad spectrum, including the financing of retail, commercial, industrial, residential and leisure facilities, real estate transactions, due diligence reviews, the preparation of construction agreements and related disputes; it is frequently engaged on cross-border matters owing to the firm's global set up. Dispute resolution, public procurement and real estate expert Antonia Kehayova co-heads the practice alongside Jenia Dimitrova, who clients regard as ‘one of the best real estate lawyers in Sofia’.Practice head(s):
Jenia Dimitrova; Antonia Kehayova
Other key lawyers:
Vaska Solakova
Testimonials
‘They are highly specialised in real estate, not aggressive in their approach and have team members with different skillsets that complement each other.’
‘Jenia Dimitrova is one of the best real estate lawyers in Sofia. She has extensive experience and has advised on some of the largest transactions in the country within different segments – office, retail, industrial and others. She is very skilled in providing relevant and persuasive arguments.’
‘CMS have been extremely helpful. The team have provided timely and commercially minded advice. I highly recommend them.’
‘I worked with Jenia Dimitrova. She has excellent knowledge of the law and realities of the Bulgarian real estate market, coupled with strong organisational skills.’
‘Vaska Solakova is a bright, promising young practitioner with excellent communication skills. Her work ethic, technical knowledge, and studies and experience abroad clearly set her apart from other practitioners that I have come across in the region.’
‘The Bulgarian RE team at CMS were able to assemble a project team from their international offices in next to no time and were eager and able to assist us with what was a very complex project.’
‘Jenia Dimitrova was the focal point of our operation, effectively managing and directing her cross-border team to assist us with the project in question. I was really impressed with how she essentially conjured a fully functioning team from a standing start within just a few days.’
‘CMS have a great team and excellent expertise in commercial real estate leasing.’
Key clients
CTP
EKO Bulgaria
Cordeel Bulgaria EAD
Trans Vision
UniCredit S.p.A.
Work highlights
- Advised CTP on the acquisition of land and of over 10 logistics buildings located in two locations in Sofia.
- Assisted on the sale of EKO Bulgaria’s real estate assets in Sofia and Varna and assisted with the expansion of EKO’s gas station network.
- Advising UniCredit Italy on the full amendment and restatement of the real estate financing agreement for a shopping centre in Sofia.
Bulgaria > Healthcare and life sciences Tier 2
A standout feature of CMS‘ healthcare practice is its experience across Central and Eastern Europe, predominantly in multi-jurisdictional M&A transactions and divestments for pharmaceutical, biotechnology and medical devices clients. In addition, the team's varied caseload includes advice on clinical trials and non-interventional studies, as well as daily legal assistance on regulatory and commercial matters, data protection, marketing and employment queries. Litigation expert Assen Georgiev leads the practice alongside Anna Tanova, who covers various commercial matters pertaining to the life sciences and healthcare industry.Practice head(s):
Assen Georgiev; Anna Tanova
Key clients
Johnson & Johnson
Essity
Work highlights
- Advising Johnson & Johnson on a wide range of commercial, personal data protection, regulatory, contract review, IP and employment matters, as well as on the establishment and conduct of clinical trials and non-interventional studies in Bulgaria.
- Advising Essity on issues regarding possible retail brand compatibility and composability claims in Bulgaria.
Bulgaria > Intellectual property Tier 2
CMS is well versed in the full spectrum of IP matters, offering legal services related to the entire lifecycle of IP assets, including trade marks and passing-off, related litigation matters, and copyright and patent law. The team is especially active in the media, healthcare, IT, energy and consumer products sectors and often acts on cross-border matters in conjunction with its global offices. Nevena Radlova and Antonia Kehayova are joint practice heads, with the former specialising in competition and the full range of IP law matters, and the latter covering IP-related disputes.Practice head(s):
Nevena Radlova; Antonia Kehayova
Other key lawyers:
Anna Tanova; Eva Petrova
Key clients
Alliance of the Technology Industry
The Association of Bulgarian Broadcasters
Work highlights
- Acting as exclusive legal advisor to the Alliance of the Technology Industry, advising on IP matters including complex negotiations with the collective management organisations of copyrights and neighbouring rights holders.
- Acting as exclusive legal advisor to the Association of Bulgarian Radio and TV Broadcasters.
Bulgaria > TMT Tier 2
Matters across the media sector are the core focus of CMS‘ TMT practice. The team has extensive knowledge regarding IP and media regulations, positioning it well to advise clients on licensing rights, contract design, outsourcing with regard to data protection, and entry into the Bulgarian media market, in addition to compliance with local regulations. Four lawyers jointly lead the practice - Gentscho Pavlov, Atanas Bangachev and Veliko Savov focus on TMT-related corporate and commercial matters and M&A deals, and Anna Tanova is an expert in media and IP matters.Practice head(s):
Gentscho Pavlov; Atanas Bangachev; Veliko Savov; Anna Tanova
Other key lawyers:
Eva Petrova
Testimonials
‘The media and telecoms team at CMS is exceptional. The unique advantage of CMS lawyers is their in-depth knowledge of the media and telecoms industry, and their involvement in the legislative process and the development of the regulatory framework. Anna Tanova and Eva Petrova are very responsive, always ready to help and provide excellent ideas and solutions.’
‘Anna Tanova is an outstanding lawyer with significant expertise and experience in media and IP. She is dedicated to her work for us and has achieved great results for the industry. We see her as a leading professional in the TMT sector.’
‘Eva Petrova is a great support, with experience in the media sector and a deep understanding of the creative industries.’
‘Their assistance has been invaluable – I recommend them highly.’
‘Professionals with a very good understanding of our business and needs. Proactively communicate changes in the legislation or new laws and requirements to us.’
‘Very good communication and prompt responses to our queries. Always friendly and easy to access.’
Key clients
Miracle Mill
Revetas Capital Advisors
Smartcom Bulgaria
B2 Holding
DNEG
Barin Sport
HMD Global Oy
Lumen Technologies
Alliance of the Technology Industry
Association of Bulgarian Radio and TV Broadcasters
National Council for Self-regulation in Advertising
Work highlights
- Advising ATI on media and IP matters and assisting with complex negotiations with the collective management organisations of copyright and neighbouring rights holders, Prophon and Musicauthor.
- Performed a legal due diligence of the Bulgarian subsidiary of Miracle Mill, a Swedish-owned and operated cloud-first company.
- Advising ABBRO as an exclusive legal services provider, including representation before the regulatory bodies, the Ministry of Culture and other ministries, and before parliamentary committees.
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