Gugushev & Partners has advised Helios Energy Invest on its EUR 65 million acquisition of Helios Projects from H1 Venture Swiss Holding. Djingov Gouginski Kyutchukov & Velichkov advised the seller. Spasov & Bratanov advised China Development Bank as the project finance lender.
The transaction was financed by UniCredit Bulbank and was subject to clearance by the Commission for Protection of Competition and the Energy and Water Regulatory Commission.
Helios Projects is a photovoltaic company in Bulgaria that owns a solar park with a capacity of 50 megawatts-hour.
According to Gugushev & Partners, "the transaction, representing the sale of a foreign asset by a Chinese company in an open bankruptcy proceeding, was supervised by the bankruptcy trustee and the bankruptcy court in China."
The DGKV team was led by Partner Milan Pandev and Senior Associate Krassimir Stephanov.
The Spasov & Bratanov team included Partner Vassil Hadjov and Associate Vladimir Tashev.