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DGKV and CMS Advise on UniCredit Acquisition Financing for Bulpros Consulting

DGKV and CMS Advise on UniCredit Acquisition Financing for Bulpros Consulting

Bulgaria
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Djingov, Gouginski, Kyutchukov & Velichkov Law Firm has advised Bulpros Consulting AD on acquisition financing it received from Unicredit Bulbank AD for an acquisition by its German subsidiary of a majority interest in a global software business held by GROUP Business Software Europa GmbH, GBS Pavone Groupware GmbH, and GROUP Business Software (UK). CMS advised UniCredit on the financing. According to DGKV, "the transaction creates one of the largest Bulgarian IT services and solutions suppliers."

According to CMS Partner Elitsa Ivanova, who led the firm's team advising UniCredit Bulbank on the deal, "in terms of value it was not a large deal but in terms of structure and documentation, it was a complex cross-border acquisition finance that included three jurisdictions, combined with a very challenging time frame (I think we achieved financial close from start to finish in less than one month)."

DGKV describes Bulpros as "a fast-growing European IT Services company operating already on many European and global markets and providing customized solutions with a focus on IT and BPO consulting." According to the firm, "Bulpros is the fastest growing technology company in Bulgaria."

DGKV’s work included the review and negotiation of a term loan and guarantee issuance facilities agreement with Unicredit Bulbank AD, as well as related documents and instruments (including security documentation governed by Bulgarian law). The firm's team was led by Partner Georgi Tzvetkov and included Senior Associate Kaloyan Krumov and Associate Lora Aleksandrova. Gleiss Lutz worked alongside DGKV in conducting "a limited high-level legal review of certain legal issues under German law relating to the German targets."

Ivanova, at CMS, was responsible for the English and Bulgarian law advice, with Partner Thomas de la Motte from CMS Hamburg responsible for German law aspects of the transaction. The firm's team included Plamena Kostadinova, Andreas Keller, Borislava Piperkova, Juliana Muteva, Anita Soomrova, Bridget Nichols, Thomas Jessop, and others from the firm's offices in Sofia, Hamburg, and London.

Bulgaria Knowledge Partner

Schoenherr is a leading full-service law firm providing local and international companies stellar advice that is straight to the point. With 14 offices and 4 country desks Schoenherr has a firm footprint in Central and Eastern Europe. Our lawyers are recognised leaders in their specialised areas and have a track record of getting deals done with a can-do, solution-oriented approach. Quality, flexibility, innovation and practical problem-solving in complex commercial mandates are at the core of our philosophy.

Firm's website: www.schoenherr.eu

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