The corporate practice at Penkov, Markov & Partners stands out for its recent work on complex M&A deals in the energy and real estate sectors. In addition to transactional work, the group excels in corporate restructurings, transfer of shares and data privacy matters. Three partners leads the team: Nikolay Cvetanov stands out for his work in complex M&A deals in the banking and TMT sectors, Boris Lazarov is an authority in cross-border acquisitions, and Roman Stoyanov is a key contact for privatisation deals, joint ventures and investments through equity in Bulgarian companies.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
- ‘Compared to other firms, Penkov and Markov distinguish themselves through their commitment to innovation. The practice has introduced forward-thinking initiatives in areas such as technology-enabled solutions, flexible billing models, and collaborative client engagement. Their investment in diversity and inclusion also stands out, fostering a culture that brings fresh perspectives and creative problem-solving to every engagement.’
- ‘The combination of her expertise, client-centric mindset, and innovative thinking makes Milena Gaydarska not only a highly skilled professional but also a trusted and preferred partner. I have full confidence in her ability to deliver exceptional results and would highly recommend her.’
- 'Care and passion: these are the first two feelings that seemed to have shaped the products that I received from Penkov, Markov & Partners. Their advice conveyed the message that everything that could have been done was done. This is of utmost importance when I deliver third party work to my client and I can only check quality on common-sense basis.'
- ‘I want to mention Roman Stoyanov as a real standout partner because of his exceptional work with us.’
- 'Penkov, Markov & Partners stand out as a practice that combines depth of legal expertise with a distinctly business-oriented mindset. What differentiates the team is their ability to translate complex legal frameworks into pragmatic, actionable strategies that align with clients’ commercial objectives. Unlike many firms that focus predominantly on the technicalities of law, this team consistently demonstrates a broader understanding of the hybrid business environment in which clients operate, offering advice that is not only legally sound but strategically valuable.'
Key clients
- Wealthlock Ltd.
- STAMH LTD
- Karelia Bulgaria EOOD
- BULGARIAN-ALBANIAN BUSINESS CHAMBER (BACB)
- Invenio Partners Fund II SCSp
- Plant for Optics AD
- Arteks Engineering AD
- Imobene EOOD
- Cola-Cola Hellenic Bottling Company
- Medical Center Aesthe Clinic Ltd.
Work highlights
Advised Plant for Optics AD on the structuring, negotiation, and execution of Zeiss’s acquisition of up to 70% of the company, including complex investment mechanics and full-scope due diligence.
Advised on the cross-border acquisition of all shares of Texim-90 in Coca-Cola Hellenic Bottling Company Bulgaria, including transaction structuring, regulatory compliance, and full legal documentation.
Advised INVENIO PARTNERS FUND II SCSp on the acquisition of 80% of both Multi-profile hospital for active treatment Skin Systems and Medical Centre Skin Systems.
Lawyers
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Practice head
Nikolay Cvetanov; Boris Lazarov; Roman Stoyanov
Other key lawyers
Milena Gaydarska