CMS has advised YGY Industries on the sale of the 229-megawatt St. George greenfield solar plant in Bulgaria's Silistra municipality to Rezolv Energy. Boyanov & Co and, reportedly, Clifford Chance advised Rezolv Energy.

May 2023 marks five years since the application of the General Data Protection Regulation, better known as "GDPR", and its requirements still pose a number of challenges for organizations. On one hand, this is because ensuring compliance with GDPR is not a "one-time exercise" but a continuous process "from within", requiring synchronization with all other activities in the organization. On the other hand, companies must also take into consideration innovations "from the outside", including new regulations and technologies, by promptly addressing data protection risks.

Djingov, Gouginski, Kyutchukov & Velichkov has advised ALC Clover Ireland Limited on the lease of a new aircraft to Fly Lease and its subsequent sublease to Bulgaria Air.

Eversheds Sutherland Bulgarian member firm Tsvetkova Bebov & Partners has advised the TBI Bank on the public placement of its EUR 10 million first tranche of senior non-preferred MREL bonds due 2026.

Gugushev & Partners has advised Next Basket on an investment from the Innovation Capital Fund. Sole practitioner Sylvia Marushkina reportedly advised Innovation Capital.

Did You Know that a total of 14 partners at Bulgarian law firms have worked on multiple client matters in that country so far this year? That group is led by Boris Teknedzhiev of Tokushev & Partners, who has worked on five reported Bulgarian client matters in 2023.

Bulgaria's outlook is improving, with its elected government working hard to catch up on crucial EU legal updates, while the country continues to attract investments in banking, energy, healthcare, and technology, according to Penkov Markov & Partners Associated Partner Boris Lazarov.

Schoenherr has advised Bulstrad Life Vienna Insurance Group Bulgaria on the acquisition of AmeriMed medical center. Reportedly, Stanev & Partners advised the sellers.

Tsvetkova Bebov & Partners (member of Eversheds Sutherland) has advised on Allianz Bank Bulgaria’s issue of senior preferred MREL bonds.

Boyanov & Co has advised Borealis on the Bulgarian aspects of the sale of its indirect shareholding in Neochim to Agrofert. Wolf Theiss advised Agrofert.

Partners Stephan Kyutchukov and Zdravka Ugrinova have assumed joint management responsibilities as the Co-Managing Partners of Djingov, Gouginski, Kyutchukov & Velichkov.

Boyanov & Co, working with Troutman Pepper, has advised the Deluxe Corporation on the sale of its Hostopia Bulgaria EOOD subsidiary to HostPapa.

Djingov Gouginski Kyutchukov & Velichkov has successfully represented the Miele Center Max Group before the Commission on Protection of Competition in antitrust proceedings initiated against Miele Bulgaria.

Although companies’ financing in Bulgaria remains primarily bank-based, a transformation towards the growing importance of alternative financing has been observed in recent years. 

The EU Directives on Work-life balance and on Transparent and predictable working conditions were introduced into the Bulgarian national legislation in August 2022 and brought about significant changes and obligations for the employers. What do they mean for businesses?

Wolf Theiss, working with Ropes & Gray, has advised Astorg on the separation of price-reporting agency Fastmarkets from businesss and financial information company Delinian.

Eversheds Sutherland member Tsvetkova Bebov & Partners has advised the Bulgarian-American Credit Bank on a EUR 15 million private placement of senior non-preferred MREL notes.

On May 25, 2023, CEE Legal Matters reported that Hristov & Partners had advised e-commerce-focused digital company Aiopsgroup on its sale to IT development and services tech group Valantic. CEELM reached out to Hristov & Partners Partner Pavel Hristov to learn more about the deal.