Penkov Markov moves up a tier this year after receiving strongly positive feedback from the clients and peers. The firm went on something of a hiring spree this year, taking on a number of associates from rival firms and from in-house positions....
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Penkov Markov moves up a tier this year after receiving strongly positive feedback from the clients and peers. The firm went on something of a hiring spree this year, taking on a number of associates from rival firms and from in-house positions. The team of Vladimir Penkov and Milena Gaidarska is described as "excellent" by one client, while Svetlin Adrianov and Ivan Markov are also singled out for praise by clients.
One of the firm's highlights this year was advising the Bulgarian Privatisation Agency and the Bulgarian government on the privatisation of 70% of the Bulgarian Maritime Fleet. Led by managing partner Vladimir Penkov, the deal was the largest privatisation of the year and the second-largest ever in Bulgaria on price-per-share.
Greek private-equity house Global Finance mandated the firm in a number of transactions this year. A team consisting of Vladimir Penkov and Milena Gaidarska the company on a multi-stage M&A transaction for Bulgarian insurance company Euroins, which required an issuance of convertible preferred equity certificates and substantial local regulatory advice. Penkov and Gaidarska also advised Global Finance on the financing of a construction project, and the implications of a private bond issue.
Vienna Insurance Group mandated the Ivan Markov on its acquisition of TBI Bulgaria, which involved the transfer of TBI's insurance group to Vienna Insurance Group and the negotiation of substantial regulatory hurdles set by the Commission for the Protection of Competition and the Financial Supervision Commission.
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