In general the protection of intellectual property rights over products related to or originating in a defined geographical area is based on the legal concept of a “geographical indication.” According to both legal theory and practice a geographical indication (GI) is a sign used on products that have a specific geographical origin and possess qualities or a reputation related to that origin.
Schoenherr has advised Bulgarian Eagle airlines, the ACMI (Aircraft, Crew, Maintenance, and Insurance) carrier recently founded by the Germania Group, on its expansion into Bulgaria and on obtaining an official air operator certificate from the Bulgarian authorities, which allows the airline to use aircraft for commercial purposes. After all the necessary licenses were issued and a demonstration flight was successfully completed, the Bulgarian aviation authority cleared the new airline for take-off.
Boyanov & Co. has advised UK Hystead Limited on its EUR 156 million acquisition of The Mall — the second biggest shopping center in Bulgaria. In particular, UK Hystead Limited acquires 100% of Bulgarian company AP Retail I Limited from Cypros Fortone Holdings Limited, which is ultimately owned by Greece's Assos Capital (85%) and Deutsche Bank and Goldman Sachs (a combined 15%). Dinova Rusev & Partners Law Office advised the sellers on the deal.
October 20, 2017 - Hyatt Regency Hotel, Belgrade
Acting for borrowers RES Techonogy JSCo and ASM-BG Investicii JSCo., both jointly owned by the Korean South East Energy Company (a subsidiary of KEPCO) and SDN Company Ltd., CMS Cameron McKenna Nabarro Olswang has advised on the largest renewable energy refinancing in Bulgaria to date with the completion of UniCredit’s EUR 62 million facility. CMS Reich Rohrwig Hainz advised UniCredit on the refinancing.
Schoenherr has advised Kronberg International on the acquisition of Mall Varna EAD from Raiffeisen Bank International AG. Deloitte Legal advised RBI on the deal, which closed in Q2, 2017. The purchase price was not disclosed.
DGKV, working with Baker McKenzie, London, has advised British American Tobacco on its over EUR 100 million acquisition of assets of Bulgarian cigarette maker Bulgartabac Holding, including Bulgartabac's Victory, Eva Slim, and GD tobacco brands and its distribution and retail assets in Bulgaria and Bosnia. The sellers -- Bulgartabac Holding AD and Blagoevgrad-BT AD -- were represented by in-house counsel on the deal.
DGKV has advised International Personal Finance Investments Limited, the leading British-based international home credit business provider, on the sale of Provident Financial Bulgaria (Provident) to Easy Asset Management (which operates under the Easy Credit brand). EY Law advised the buyers on the deal.
DLA Piper has advised Hungary-based Egis Pharmaceuticals on its acquisition of the D-Panthenol brand, the second largest brand in the dexpanthenol market in Russia, and of a Russian gynaecology portfolio consisting of Vagilac, Feminal and Folacin brands, from Jadran-Galenski Laboratorij. CMS advised the sellers on the deal.
As a result of several mid-sized acquisitions in 2016, many foreign companies interested in buying shares in limited liability companies in Bulgaria have faced questions about how the management of such business entities are controlled and what the risks are of detection, after the acquisition, of “hidden liabilities” due to the potentially non-compliant behavior of those companies’ statutory representatives with good corporate standards.