Boyanov & Co. has advised Silver Star Group on its acquisition of a group of assets and services related to the Mercedes distribution business in Bulgaria from Vienna Real Estate / Balkan Star Group. Penkov, Markov & Partners advised Balkan Star on the deal.
Silver Star Group is owned by Saudi businessman Sheikh Khaled al Juffali, the Managing Director of Ebrahim A. Juffali and Brothers – which Boyanov & Co. describes as "Saudi Arabia’s largest commercial enterprise."
According to Boyanov & Co., in April, Silver Star Motors EAD was appointed by Daimler AG as General Distributor for the sale of Mercedes-Benz trucks, cars, commercial vans, Evobus, Fuso trucks, Maybach and Unimog in Bulgaria. In the process of setting-up its distribution network in Bulgaria, and in a series of separate transactions, Silver Star acquired two showrooms in Varna and Plovdiv and certain movable assets and inventory from Vienna Real Estate and Balkan Star Group (the former Mercedes distributor in Bulgaria). The parties also agreed on the rent of showroom in Sofia and the provision of certain services by Vienna Group to Silver Star Group.
The Boyanov & Co. team was led by Partners Nikolay Zisov and Nickolay Nickolov, with Senior Associate Georgi Drenski advising on the bank financing aspects of the transactions.
The Penkov, Markov & Partners team included Partners Milena Gaidarska, Svetlin Adrianov, and Svetoslav Dimitrov, supported by lawyers Maria Pashalieva, Radost Georgieva, Yura Mincheva, Assen Apostolov, and Lora Georgieva. The team worked under the general supervision of Chairman and Senior Partner Vladimir Penkov.