Bulgaria

IFLR1000 Reviews

Financial and corporate
Boyanov & Co

Established in 1990, Boyanov & Co is a full service, independent Bulgarian firm based in Sofia. It is a founding member of SEE Legal, a legal network of 10 firms across Southeast Europe.  

The team is led by managing partner Borislav Boyanov and a wide range of other seasoned lawyers and professionals. The firm is active in advising as local Bulgarian counsel to prominent foreign financial service institutions and investors on cross border M&A and project financing transactions.  

 

Highlights  

Boyanov & Co advised a syndicate of UniCredit Bulbank, United Bulgarian Bank, Eurobank Bulgaria and Raiffeisen Bank International on the financing of the construction and operation of 160 MW photovoltaic power plant in Bulgaria. The team . advised the lenders on the transaction structure in general, the finance documents, the satisfaction of the condition's precedent and conditions subsequent, and carried out a full legal due diligence of the project. They also advised on the real estate and construction aspects of the project. The transaction closed in March 2024.  

The team also advised Generali Holding CEE in the acquisition of Unified Health Insurance Fund Doverie. This included obtaining several reuglatory and concentration clearances in Bulgaria and other jurisdictions. The team acted as lead counsel and was led by partner Yordan Naydenov.  

 

Key Clients  

UniCredit Bulbank AD; DSK Bank AD; United Bulgarian Bank AD; Eurobank Bulgaria AD; JP Morgan SEGenerali CEE Holding; Eurobank Bulgaria; Westinghouse Electric; Mondelez Bulgaria Holding; Dundee Precious Metals; Heidelberg Materials; Actis/Rezolv Energy 

 

Testimonials 2024/2025

We appreciate the team’s professionalism, creativeness, and proposing ideas with sound legal advice. These are practical solutions to achieve our common goals and serve out client in a positive way. The level of responsiveness is exceptionally high. (Banking & Finance) 

The firm has consistently demonstrated strong responsiveness and deep expertise. Their team is highly knowledgeable, not only in legal matters but also in understanding the nuances of our industry. They provide clear, practical advice and are proactive in addressing our needs. The partner assigned to our matters is always available, ensuring continuity and confidence in their support. Their professionalism and reliability make them a valuable legal partner. (M&A) 

Boyanov's team is extremely responsive and very knowledgeable about energy and natural resources matters. (Project Development) 

Boyanov's team stood out in their capacity to analyse a new industry sector, understand the main challenges and find solutions to address them. (Project Development) 

Alexander Chatalbashev's orientation on business focused solutions and good understanding of all transactional details, as well as his availability and responsiveness. (M&A) 

Alexander Chatalbashev is an extremely good listener and adapts very quickly to new situations. He is very responsive and very solution-oriented. (Project Development) 

Georgi Drenski provides well-justified legal advice and offers result driven solutions. He is easy to work with, accessible, and responsive. (Banking & Finance) 

Yordan Naydenov is an exceptional legal professional whose expertise and foresight consistently add value. He demonstrates a deep understanding of both the legal landscape and the specific needs of our business. His ability to anticipate client concerns and proactively offer solutions is particularly impressive. (M&A) 

Yordan Naydenov is always accessible and engaged, he brings clarity and confidence to complex matters, making him a trusted and indispensable advisor. (M&A)

 

Testimonials 2023/2024

Professional, efficient, knowledgeable.” - Bank lending

The professionalism allows for great flexibility in executing their tasks. The team of Mr. Simeonov and Mr. Drenski provided a quick response to our need for organizing all documentation within a tight timeline.” - Bank lending 

I was cooperating with lawyer Mr. Yordan Naydevov from BOYANOV law firm. I was very happy from our cooperation. Deep knowledge of commercial law, huge experience, consistency and prompt replies supported me in taking right decisions.” - Project development  

 

Damian Simeonov 

International, good lawyer, good market knowledge.”  

 

Georgi Drenski 

Communicating with the bank's lawyers on the Bulgarian legislation transposing the international requirements of the deal.”  

 

Yordan Naydenov 

Deep knowledge of commercial law, consistent, accessible, quick response, always on time and good listener to customer problems.”  

CERHA HEMPEL Gerginov

CERHA HEMPEL Gerginov is a corporate law firm with an office in Sofia, Bulgaria, established over 25 years ago. It has a team consisting of over 200 lawyers. The firm has an active presence in banking and finance, corporate and M&A and project development.  

 

Highlights  

CERHA HEMPEL Gerginov  acted as lead counsel for Semantic Web Company on the merger between the Bulgarian Ontotext and Austrian Semantic Web Company, forming the new company GraphwiseThe team’s advice included full due diligence of Ontotext, the drafting of all transaction documents, and a cross border contribution of shares. The transaction is currently ongoing.  

The firm also advised Tennant Company, headquartered in Eden Prairie, Minnesota, in the acquisition of M&F Management and Financing GmbH. The Bulgarian team was led by partner Boyko Gerginov and involved all CEE offices of Cerha Hempel. The transaction closed in February 2024.  

 

Key Clients  

Carl Zeiss AG; Semantic Web Company GmbH; Avenue India Emergence Pte. Ltd.; Pierer Produktion GmbH; Tannant Company 

Djingov Gouginski Kyutchukov & Velichkov

Djingov Gouginski Kyutchukov & Velichkov (also known as DGKV) was established in 1994. It has grown to more than 50 qualified lawyers in its headquarters in Sofia and it has a representative in Berlin. The firm is one of the markets most predominant independent firms in Bulgaria and regularly advises on some of the largest financial and corporate transactions.  

 

Highlights  

DGKV acted as Bulgarian law counsel of HPS Investment Partners, LLC as lender in connection with the financing of the acquisition of myPOS World Ltd and the myPOS group of companies by Advent International, L.P. This included advising the client on the accession of the Bulgaria based myPOS companies as guarantors to the financing and leading the structuring, drafting and negotiation of the Bulgarian law governed security documentation. The transaction closed in August 2024.  

The firm also advised Netherlands-headquartered investment firm PPF Group NV (“PPF”) on the Bulgarian law aspects of the sale by PPF of 50% plus one share in PPF Telecom Group’s (“PPF Telecom”) assets in Bulgaria, Hungary, Serbia and Slovakia, to Emirates Telecommunication Group Company ("e&"). The team acted as local counsel and was led by partners Violetta Kunze, Nikolai Gouginski, and Valentin Bojilov. The transaction closed in October 2024.  

 

Key Clients  

EBRD; UniCredit Bulbank; DSK Bank AD and OTP Bank Plc.; Bianor Holding ADAccenture Holdings B.V.; Dreamix OOD; Bright Consulting; PPF Group NV; Gilat Satellite Networks; Dronamics LTD; Aurubis Bulgaria AD; Contour Global; American University in Bulgaria 

 

Testimonials 2024/2025 

The team was very responsive, knowledgeable, and professional. (Financial Services Regulatory) 

We appreciate the team’s knowledge, accuracy, and professionalism. (Project Finance) 

Kaloyan Krumov is competent and responsive. (Project Finance) 

 

Testimonials 2023/2024

“The DGKV team I have the pleasure to work with is extremely professional, forward looking and very alive to the client's needs. Partner Kaloyan Krumov is very good at task, time and costs management and always maintains open communication. The whole interaction between the in-house counsel and the law firm was so easy to navigate - from the assignment of work to the flexibility of when we speak and meeting deadlines.” - Banking and finance  

“Experienced and well-prepared team, well structured, clients friendly.” - M&A 

 

Georgi Tzvetkov  

Problem solver, proactive.”  

 

Kaloyan Krumov  

Kaloyan Krumov is approachable, focused on the client's needs rather than issuing invoices and provides practical solutions. He is also very good at time and costs management and whenever appropriate delegates work to the members of his team.”

Eversheds Sutherland Bulgaria

Opened in 1998, Tsvetkova Bebov & Partners is a leading full-service Bulgarian firm based in Sofia. The firm is a member of the International Swaps and Derivatives Association, ISDA. The firm has a notably strong presence in Banking and finance and capital markets transactions, as well as experience acting as Bulgarian counsel on large cross border transactions.  

 

Highlights  

Eversheds Sutherland Bulgaria advised on all matters of Bulgarian law the Republic of Bulgaria in relation to its € 3,000,000,000 and US$ 1,500,000,000 triple-tranche issue under its GMTN Programme increased to € 20 billion. This included advice on a supplement to the GMTN Programme offering circular as well as Bulgarian securities, taxation, and constitution law. The transaction closed in August 2024 and was led by partner Nikolay Bebov.  

The team also advised Allianz Bank Bulgaria, as single transaction counsel, in the public issuance of € 50,000,000 million 4-year MREL notes. This included drafting the public offering and listing prospectus and all relevant documentation for the issuance of the bonds, assisting in the obtaining of prospectus approval by the Financial Supervision Commission, and advising the client throughout the entire public offer procedure. The issuance occurred in December 2024.  

 

Key Clients  

Energo-Pro a.s.; TBI Bank; KBC Asset Management; Republic of Bulgaria – Ministry of Finance; Allianz Bank Bulgaria 

 

Testimonials 2024/2025

Eversheds is an efficient team managed by a professional leader achieving milestone on a timely manner. The project was under time limit and the team managed to stick to all deadlines. (Project Finance) 

They are very competent and have a lot of experience. They know the bank market in Bulgaria and the reality in which the banks in the market operate. They try to understand the business logic of the respective tasks/requests and provide tailor made solutions. They are easy to communicate, react fast and manage to present the information in way understandable for everyone. (Banking & Finance) 

The Banking and Finance team, led by Nikolay Bebov, is excellent in every way. They are highly technically competent and have excellent collegiality and excellent commitment to the project and client service. (Banking & Finance) 

Nikolay Bebov's team, comprised of Petar Ivanov and Konstantin Mladenov were really capable and reliable. The firm is really good to work with. (Banking & Finance) 

Nikolay Bebov is very competent and experienced. He is professional and knows very well the bank business and the Bulgarian market. He analyses the requests and replies promptly to what extent and in what direction he can help us. If he is not the right person for the respective question, he provides somebody else but at the same time, he is personally deeply involved in the respective task and the discussion until the very end of the project. (Banking & Finance) 

Nikolay Bebov has gravity and seriousness of purpose. When he works on the deal people know that he is a serious and capable lawyer and even if he is on the other side from them, they take him seriously. (Banking & Finance) 

Petar Ivanov provides quick feedback and having full control over projects. (Project Finance) 

Petar Ivanov is very serious and committed. He works very hard to pull together all the strands on the CP checklist and make sure things get checked off. He is friendly and easy to work with on a deal. (Banking & Finance) 

Mariya Karacholova is very experienced and professional. She tries to understand the business logic in the projects and to provide the best possible solution. (Banking & Finance) 

Kinkin & Partners

Kinkin & Partners is an independent Bulgarian firm with a team of 16 lawyers. The team has the capacity to communicate in Bulgarian, English, Italian, German, Spanish, French and Russian. The firm has a focus for its corporate restructuring, M&A, banking and finance work and project development.  

 

Highlights  

Kinkin & Partners provided legal counsel to Ave Bulgaria Logistic Ltd., one of the shareholders owning 30% of the capital of a limited liability company operating in the field of logistics services. The team led the negotiations with the lawyers of the majority shareholder regarding the mechanism of the exit. The transaction closed in May 2024. The team acted as lead counsel and was led by partner Vladimir Kinkin.  

The firm also advised CAPITAL MARKETS, o.c.p., a.s. in their planned expansion into the Bulgarian market. The team assisted the client in the process of registration of a tied agent in Bulgaria. The transaction is currently ongoing and led by partner Adriana Nacheva.  

 

Key Clients  

CAPITAL MARKETS, o.c.p., a.s.; Green Power Ltd.; Highstock Investments Ltd; Mind Logistics Ltd.; Prime Development Ltd.; Ave Bulgaria Logistic Ltd.; Datalab Bulgaria Ltd.; Gama Electronics LTD; Chuchuline Trading LTD; Nikolai Schuler; Dino Boy LTD; VEZ Svoghe LTD 

 

Testimonials 2024/2025 

They are reliable, punctual and offer great expertise on the matter. (Banking & Finance) 

We appreciate the team’s professionalism, promptness, and kindness. (Capital Markets) 

The firm offers an individual approach as well as a highly motivated and experienced team with extensive expertise. (Project Development) 

Vladimir Kinkin is well-informed about the sector in question. (Banking & Finance) 

Adriana Nacheva has an extensive expertise in energy, infrastructure and commercial sectors. She is an excellent team manager. (Project Development) 

 

Testimonials 2023/2024 

We consider them as the best on the market.” - M&A  

I am very grateful to Kinkin & Partners for all the team do the deal to be successfully closed.” - M&A 

The Kinkin & Partners corporate team is always well prepared with original legal solutions to any problem.” - M&A 

Kinkin & Partners team is well-educated and we consider them one of the best in the field of corporate and commercial law.” - M&A 

 

Nikolay Radev  

He is an extremely good expert in the practices he is leading.” 

Nikolay is always available when the client has any need and always has original ideas how any problem to be resolved.”  

Mr. Radev is extraordinary professional with deep knowledges in the field of corporate and commercial law.”  

We are glad to cooperate with Mr. Radev as he is well-educated, intelligent and always at our disposal with the best solution of the case.” 

Spasov & Bratanov

Established in 1999, Spasov & Bratnov, is a premier full-service Bulgarian law firm centered in Sofia. The firm has 16 lawyers in total with experienced qualification in US and UK law. It is a founding member of Adriala law firm network, an independent premium law network covering nine jurisdictions in Southeast Europe. 

 

Highlights  

Spasov & Bratanov advised International Finance Corporation and Raiffeisenbank International on a term-loan secured financing of the 199MW St George solar PV park. The team handled the entire Bulgarian work stream, including the issuance of capacity and enforceability of security opinions. The transaction closed in November 2024.  

The firm also acted as lead counsel to Aviapartner SA in its acquisition of a minority stake in Omega Aviation Ltd., a local ground-handling operator. The transaction was valued at EUR 1,000,000 and closed in September 2024. The team was led by partner Vassil Hadjov 

 

Key Clients  

International Finance Corporation; Santander Bank; UniCredit SpA/UniCredit Bulbank; EBRD; US EximInercom; AES; Compass Capital; VP Brands; Avia Partner; Bulgaria Solar 

 

Testimonials 2024/2025 

We value Spasov Bratanov for their deep familiarity with our structure and regulatory landscape, which enables them to deliver precise, tailored legal solutions in all matters and projects they have advised us on. (Banking & Finance) 

The team - especially Vassil Hadjov, Boyko Bratanov and Nadia Hadjova - is very responsive, collaborative and trusted by us with high-stakes issues, working seamlessly with us and external stakeholders to finalize documentation and ensure smooth execution. (Banking & Finance) 

They are proactive and find solutions themselves. I do not have to chase them so that they offer me solution - they came with ready solution and with ready documents. (Banking & Finance) 

Spasov & Bratanov's team is very well structured, knowledgeable, reliable and providing support not only on pure legal matters but business-wise. Their efficiency is based on the excellent communication with the client and the strong expertise in the financial sector. This gives them the opportunity to suggest entirely new legal solutions to support the business needs. They are ready always to go an extra mile so that the identified legal risks are covered. (Banking & Finance) 

We appreciate the firm’s timely delivery of service, depth of understanding of cross border capital markets listings, and complexity of service from primary legal work to various aspects of legal support. (Capital Markets) 

Boyko Bratanov stands out for his deep technical command and strategic insight across multiple legal domains. He excels at drafting and negotiating complex finance documents, including credit facility agreements, pledges, and shareholder resolutions, ensuring that all legal instruments align with both Bulgarian and international standards. 

Boyko Bratanov’s responsiveness, clarity in communication and ability to distil complex legal issues into actionable guidance make him a highly valued legal partner. (Banking & Finance) 

Petar Dyankov is proactive and actively seeks solutions. (Banking & Finance) 

Petar Dyankov is very knowledgeable, diligent, detailed and organized. His expertise in the practical aspects of security establishment and perfection are indispensable. (Banking & Finance) 

Vassil Hadjov demonstrates strong legal acumen in structuring and executing complex financing transactions. He is particularly effective at coordinating across multiple stakeholders to ensure timely and accurate execution of finance documents. His attention to detail is evident in his handling of Bulgarian security documents and consents where he ensures alignment with both local legal requirements and lender expectations. (Banking & Finance) 

Vassil Hadjov contributes meaningfully to discussions on regulatory compliance and contractual structuring, often stepping in to clarify legal nuances and support decision-making under tight timelines. (Banking & Finance) 

Georgi Spasov is seasoned reputable attorney-at-law who possesses both outrageous academic background and legal practice. His palette of knowledge and experience is so wide and rich that it distinguishes him in the legal market. He has a solid expertise not only in financing but also in acquisition, competition rules, regulatory matters, employment and this list is not complete. (Banking & Finance) 

 

Testimonials 2023/2024

They work to solve the problems and to achieve the ultimate goals.” - Banking and finance  

A friendly, very efficient and highly expert team with a very business like approach to clients and stakeholders.” - Financial restructuring  

Smart, nice and effective.” - Financial restructuring  

They have very good expertise and communication.” - Financial service regulatory  

 

Vassil Hadjov  

Highly likeable individual qualified in at least two jurisdictions, with great international experience and business acumen. He is a top notch lawyer who provides very commercially-oriented advice.”  

Act legal Bulgaria

KDBM Lawis a Bulgarian corporate law firm with an office in Sofia, founded in 2004. 

 

Focusses / specialisms 

The firm is active in corporate and M&A and project development. It advises developers on projects, and clients on issuing shares, opening businesses and other corporate matters. It works with clients from various sectors, ranging from retail and technology to food production. 

 
Key clients 

Among its clients are Select Asset Management, Sky Asset Management, Bulgarian Receivables Fund, BenchMark Finance, Retail Park Pirdop, Retail Park Smolyan,CEO Angel Ventures, Mountainview Estate, Golden Agri Resources, Solidsun and Bausch.       

 

Client feedback: 32nd edition (2022/2023) 

Capital markets: Equity 

“KDBM Law' lawyers are extremely accessible, dedicated and knowledgeable in their field. The quote for their services was among the most affordable on the market while their services were exemplary!” 

 

M&A 

They are also consulting our date-to-date corporate business, as well as project finance acquisition of real estate. They are very pro-active and business oriented. 

CMS Sofia

Established in 2005, CMS Sofia is a full-service corporate law firm with an office in Sofia. It has a team of 32 lawyers, and it’s part of the international law firm CMS consisting of more than 4800 law and tax professionals in more than 40 jurisdictions.  

 

Focusses / specialisms 

The firm is active with mostly cross-border work in banking and finance, corporate and M&A, and project development.   

In banking and finance, it advises mostly lenders on direct financing, acquisition financing and refinancing.  

Its corporate and M&A practice consists of assisting sellers and also buyers on acquisitions in various industries, ranging from manufacturing to technology and telecommunications.  

In project development it advises developers, contractors and investors on projects in various industries, most notably in energy. 

 

Key clients 

Among its clients are EBRD, UniCredit Bulbank, UniCredit, OTP Bank, DSK Bank, Eurobank Bulgaria, Teda-MM, LDS Plast, Masco Europe, Cordeel Group, Elevator Ventures Beteiligungs, PCC DEG Renewables, B2 Holding, MTG Dolphin, Masco Europe, Arkad Consortium, OMV Petrom and PRISMA European Capacity.

Deloitte Legal Law Firm

Deloitte Legal Law Firm is a corporate law firm with an office in Sofia, Bulgaria since 1992. It is part of the international law and tax firm Deloitte with offices in more than 80 jurisdictions where more than 2,500 legal professionals provide a broad range of legal services.

 

Focusses / specialisms

The firm is active in banking and finance and corporate and M&A. Its banking and finance team advises borrowers on financing, as well as it assists banks and corporate clients with legal analysis and restructurings. It’s active in corporate and M&A where it advises buyers on acquisitions and regulatory matters in various sectors, including real estate, banking, finance, technology and energy.



Key clients

Among its clients are Eurobank Bulgaria and International Banking Institute.  

 

Client feedback: 32nd edition (2022/2023)

 

M&A 

"Professional legal services, provided legal opinions, structuring price offer and required legal advice."

 

PPP/PFI 

"Very professional attitude and high quality of completed work. Did not spare resources to engage with the relevant for the assignment counter parties. " 

Dimitrov Petrov & Co

Established in 1997, Dimitrov Petrov & Co is a corporate law firm with offices in Sofia and Varna, Bulgaria.

 

Focusses / specialisms

The firm is active in banking and finance, corporate and M&A and project development. 

In banking and finance, it advises debtors on debt restructurings and financings, as well as borrowers on acquisition finance. It also has experience in capital markets, advising debtors on bond loans and issuers on bond issues. 

In corporate and M&A it advises mostly buyers on spin-offs, acquisitions, establishment of corporate entities and structuring’s, and shareholders on corporate governance matters and share transfers. In addition, it has a track record in assisting clients on corporate restructurings. The firm is active in banking and finance, energy, real estate, infrastructure, aviation, financial technologies, retail, mining, media, healthcare, pharma and telecommunications. 

In project development it advises investors, buyers and developers on concessions, PPP projects and land acquisitions in various industries, including telecommunications, real estate and energy. 

 
 
Key clients 

Among its clients are Staghorn Capital, VM Petroleum, Tradenet Varna, Turnovopharma 1,Dobrichfarma, DHH, Cetin Bulgaria, Elta 90 M, Bulad Dent and Multiforce. 

 

 

Client feedback: 32nd edition (2022/2023) 

M&A 

“A very proactive team, autonomous so we can focus on the deal. Available all the time, very quick to respond with detailed answers. Lead us through the process and advising on all the critical points.” 

 

Private equity 

“They are very reliable, thorough and usually go beyond the immediate assignment, bringing big picture thinking and highlighting potential future issues.” 

Dinova Rusev & Partners

Dinova Rusev & Partners is a corporate law firm with an office in Sofia, Bulgaria since 2003.

 

Focusses / specialisms

The firm is active in banking and finance, corporate and M&A and project development.

In banking and finance it advises clients on financing, refinancing and structuring banking products.

In corporate and M&A advises clients on various corporate matters, as well as joint ventures and acquisitions in various industries, including mining and hospitality.

In project development it advises clients on tenders, concessions and projects in various industries, most notably in mining, energy, oil and gas and electricity.



Key clients

Among its clients are McDonalds, EkoBulgaria, Monsanto, AP Retail, Northrop Grumman, Danaos Development, Marks & Spencer, Sephora Bulgaria, Astron Chemicals, Mitsubishi Heavy Industries, Bulgarian Energy Holding, Kaliakra Wind Power, Assos Capital – AP Retail I and Energo Pro.

Dobrev & Lyutskanov

Dobrev & Lyutskanovis a corporate law firm with an office in Sofia, Bulgaria, established in 1989. 

 

Focusses / specialisms 

The firm is active in banking and finance, corporate and M&A and project development. 

In banking and finance, it advises the financing side on government bonds investments, financings and regulatory matters, related to the implementation of businesses. 

In M&A it advises buyers on acquisitions and transfers of shares, as well as shareholders in swap agreements. 

In project development it advises service providers and buyers on acquisitions of land and immovable assets, and licences. 

 
 
Key clients 

Among its clients are Prista Oil Holding and Molecor Tecnologia.

 

Client feedback: 32nd edition (2022/2023) 

M&A 

"Good knowledge, hands-on, committed to success." 

Georgiev Todorov & Co

Georgiev Todorov & Co is a corporate law firm with an office in Sofia, Bulgaria, founded in 1991. Today, the firm grew to 10 partners and 50 attorneys. 

 

Focusses / specialisms 

The firm is active in banking and finance, corporate and M&A and project development. 

In banking and finance it advises borrowers and lenders on project financing. 

In corporate and M&A it advises mostly buyers on cross-border and domestic acquisitions, share transfers and provides legal advice on various corporate matters. 

In project development it advises contractors EU-funded projects and developers on public procurement contracts and concessions in various industries, most notably in construction, transport and mining. 

 
 
Key clients 

Among its clients are G. P. Group, Toplofikacia Ruse, Progetti Plant, Boni Holding, Solar Energy Support, Antol, Dundee Precious Metals, Alliance Print, Dolna Mitropoliya Municipality, Galchev Engineering, Ingstroy engineering, MTK Trans,Sliven Municipality, Toplivo Corporation, Yambol Municipality, MTK Trans, AVAX,Galaxy, BMF Port Burgas and Tradefarma 

 

Client feedback: 32nd edition (2022/2023) 

Financial services regulatory 

"We highly value the overall legal services rendered by Georgiev, Todorov & Co. – the legal team always approaches our cases with high level of responsibility in order to find the most appropriate solution for our case. Georgiev, Todorov & Co.’s lawyers are experienced litigators prepared to protect our interests as well as to provide us with the competent legal advice." 

 

Project finance 

"Thorough and in-depth research on all matters referred to them." 

"Positive advice." 

Gugushev & Partners

Founded in 2007, Gugushev & Partners is a corporate law firm with an office in Sofia, Bulgaria. It comprises of four partners, 32 attorneys and four paralegals. 

 

Focusses / specialisms 

The firm is active in corporate and M&A. It has experience advising all sides of the table on acquisitions, sales, JVC establishment and various corporate matters. In addition, it advises on corporate restructurings and corporate financing. It’s active in a broad range of industries, including a track record in the IT sector. 

 
 
Key clients 

Among its clients are Delivery Hero, Malex Management, VT Investments, Leed-In International, Helios Energy Invest, Remix Global, Goldman Sachs, Morgan Stanley, Mizuho Securities USA, Barclays Capital, BofA Securities,IncRBC Capital Markets. 

 

Client feedback: 32nd edition (2022/2023) 

M&A 

"In addition to the high professionalism, Gugushev & Partners Law Office has won our trust with the comprehensive range of services they offer in various legal fields, timely assistance and an analytical and in-depth approach to work on multiple issues. 

Our Company is one of the leading online stores for second hand and outlet fashion in Europe. Given the enormous volume of services and workload, we have our in-house lawyers. They are permanently in touch with the Law Firm lawyers on many legal matters with complete transparency and trust in their expert opinion and tailored made solutions.  

Having the comfort of knowing that there is a team of top-tier lawyers behind our Company, ready to help at any time, is a great comfort and enables us to focus entirely on our business." 

The team is really strong both from a legal and business point of view. They are managing this highly complex and dynamic deal with an impressive approach and know-how. They have not only the legal knowledge and expertise to handle all of the complications around this acquisition but also the strong business acumen needed to swing the negotiations in our favour."

Hristov & Partners

Hristov & Partners is acorporate law firm with an office in Sofia. 

 

Focusses / specialisms 

The firm is active in advising buyers and sellers on acquisitions in various industries, ranging from real estate to technology and telecommunications, as well as on corporate matters. 

 

Key clients 

Among its clients are CTP, Culina Group, Reckitt Benckiser, HiiROC and Expedia. 

Ilieva Voutcheva & Co

Founded in 2002, BWSP Ilieva Voutcheva & Co is a full-service law firm with an office in Sofia, Bulgaria. It is part of Globalaw, a network of more than 180 firms independent law firms in more than 80 jurisdictions.

 

Focusses / specialisms 

The firm is active in M&A and project development. In M&A it advises buyers and sellers on acquisitions and corporate spin-offs in the real estate, renewable energy and hospitality sectors. In project development it advises investors on projects, mainly in renewable energy.

 
Key clients

Among its clients are Chirpan Solar Plant, Enery BG1, Tessa Energy, Kingsforth, Sara 03, Smart Soft, Property 777, Tessa Energy, Zara Consult, PIMK Holding Group and EDF Renewables.

 

Client feedback: 32nd edition (2022/2023) 

M&A 

“They are friendly, very business orientated and swift. They provide the most suitable solutions for every legal issue I face.” 

Kambourov & Partners

Kambourov & Partners is a corporate law firm with an office in Sofia, Bulgaria, established in 1988.

 

Focusses / specialisms

The firm is active in banking and finance, corporate and M&A and project development. 

In corporate and M&A it advises mostly buyers on acquisitions, sales, share transfers and spin-offs in a versatile list of industries, including oil and gas, healthcare, e-commerce and most notably in media and telecommunications. In addition, it has experience in banking and finance work such as advising creditors on debt collecting, refinancing and debt-restructuring, pledge agreements, recovery of assets and insolvency proceedings. 

In project development it advises bidders on bidding processes, concessions, and public procurements, as well as contractors on EPC contracts, and developers on projects. The project development team is also active in various industries, particularly visible in infrastructure, oil and gas and energy. 

 
Key clients 

Among its clients are Consultancy Engineering Group, HS Timber, Monolit,HSS-Monolit Sofia, Silverfleet Capital, Dentotal, Webjet, Bulgarian Telecommunications Company, University Specialised Hospital for Active Treatment of Obstetrics and Gynecology “Selena”, United Group, Alychlo NV, Cogeninfra, Abris Capital Partners, Slovenia Broadband, Erste Card Club, Barnes Bulgaria, IWG International Holdings, Silverfleet Capital, Vivid Money, Origin Enterprises, Bank of China Limited,ICBCIL Aviation Company Limited, Kapsch TrafficCom and Slovenia Broadband. 

 

Client feedback: 32nd edition (2022/2023) 

M&A 

“Extremely responsive, showing excellent knowledge of law combined with a practical approach. 

 

Project development 

Fantastic support, very timely and competent advises.”

Kinstellar

Kinstellar is a corporate law firm with an office in Sofia, Bulgaria, founded in 2014. It is part of the international law firm Kinstellar, with offices in ten jurisdictions and over 250 local and international lawyers.

 

Focusses / specialisms

The firm is active in all areas of corporate law and project development. 

In banking and finance, it advises borrowers and lenders on various sorts of financing structures and project financing, as well as regulatory and compliance matters such as payments and business models. 

In corporate and M&A it advises on concessionaires, buyers and sellers on winning bids, acquisitions, as well as clients on setting up business entities and various corporate matters. Its clients come from various industries, including energy, technology and infrastructure. 

In project development the firm advises concessionaires on projects in oil and gas, infrastructure and mining.   

 
 
Key clients 

Among its clients are ThredUp, KBC Group, GTT Communications, LC Interactive, GIC, Gebrüder Weiss, SOF Connect and Meridiam, European Bank for Reconstruction and Development, Eurasian Development Bank, Black Sea Trade and Development Bank, Meridiam, Astronergy and Trade Water House. 

 

Client feedback: 32nd edition (2022/2023) 

M&A 

"Strong local expertise in the financial services sector. Professionalism in organization of documents. Good client contact." 

Komarevski, Dimitrov and Partners

Komarevski Dimitrov & Partners is a Bulgarian law firm based in Sofia. 

 

Focusses / specialisms 

The firm has a particular focus on M&A and financial investment deals. 

 

Key clients 

Key clients of the firm include Kone, Eurolease Group, Mars, Takeda, Deutsche Bahn and Astra Zeneca. 

 

Client feedback: 32nd edition (2022/2023) 

M&A 

“Very diligent and structured analysis, with good presentation of findings and recommendations on various options with respective reasoning behind.” 

Nina Boteva Law Office

Nina Boteva Law Office is a corporate law firm with an office in Sofia, Bulgaria, established in 1994.

 

Focusses / specialisms

The firm is active in corporate and M&A, advising clients on various corporate governance and matters and acquisitions, as well as on corporate restructurings.



Key clients

Among its clients are Sony Electronics Bulgaria, VIP Trading, Game Trade, CNSys, Geowealth Development Bulgaria, Roys, Metrisys,YottaVolt and ANN 2. 

 

Client feedback: 32nd edition (2022/2023) 

Financial services regulatory 

“They are fast and reliable.” 

Penkov Markov & Partners

Established in 1990, Penkov Markov & Partners is a corporate law firm based in Sofia. It has a team of 31 lawyers.  

 

Focusses / specialisms 

The firm is active in banking and finance, corporate and M&A, and project development.  

In banking and finance, it advises clients on financing, refinancing and it’s active in providing regulatory advice. The team is also experienced in financial restructuring. 

In corporate and M&A it advises provides regulatory and transactional advice in various industries, most notably in energy, industrials and manufacturing, and transport.  

In project development has experience in advising on acquisitions of land plots.  

 

Key clients 

Among its clients are VE Staal,Accession Mezzanine Capital III, Infinity Capital, Unilink, Arteks Engineering, Paynetics, Gastrade, Enikom Sofia Sever, BGNova, ČEZ, Xella Bulgaria, Maillis Holdings and Crowley Carbon.    

 

Client feedback: 32nd edition (2022/2023) 

M&A 

“Flawless execution.”

Private equity 

“Good knowledge of the client regulations and needs. 

Peterka & Partners

Peterka & Partners is a corporate law firm with an office in Sofia, Bulgaria. The first office of the firm was established in 2000 in Prague, Czech Republic and today it has offices in Bulgaria, Hungary, Poland, Romania and Slovakia.

 

Focusses / specialisms

The firm is active in banking and finance, advising clients on loans, various financing agreements and regulatory and contractual matters.

Popov, Arnaudov & Partners

Popov Arnaudov & Partners is a corporate law firm with an office in Sofia, founded in 1998.

 

Focusses / specialisms

The firm is active in banking and finance, corporate and M&A and project development.

In banking and finance, it advises clients on various banking matters such as opening bank accounts and acquisition finance.

In corporate and M&A it advises buyers, sellers and shareholders on corporate and regulatory matters.

In project development it often advises contractors on public procurement procedures, construction projects and land acquisitions. It’s active in various sectors, including water utilities, electronics and has a track record of working with public administration.


Key clients

Among its clients are UniCredit Bulbank, BNP Paribas, Artzone, Cascadas Group, MD Immobilien, UniCredit Consumer Financing, Odelo Bulgaria, Ferro Corporation, Creditreform, Top Five, HCR Tech Huddle, Ministry of Regional Development and Public Works, Botevgrad Municipality, and Watter Supply and Sewage Company.

 

Client feedback: 31st edition (2020/2021)

M&A                  

"They are prompt and adaptive. Enter quickly into the case and understand the business logic in it. Always provide additional point of view."

 

Project development : Telecommunications networks                      

"Excellent understanding of the business needs - in terms of level of detail and structured feedback; timely, precise, to the point, capable of finding legal solutions rather than underlying the obstacles."

 

Project development               

"Competent, communicative, open to recommendations, flexible."

"The main strengths of this law office are mostly related to the precision and correctness of their work, as well as the quick reaction to each case."

"They pay attention to detail and stick to the legal framework."

 

Restructuring              

"A lot of competence; the conversations are conducted in whatever language the client wishes; always very professional."

Savov & Partners

Savov & Partners is a legal and tax firm based in Sofia. It has a team of 9 lawyers. 

 

Focusses / specialisms 

The firm is focused on providing advice on corporate and legal tax matters. 

 

Client feedback: 32nd edition (2022/2023) 

Financial restructuring 

We find Savov & Partners very responsive and knowledgeable, especially on international matters. They offer a very personalised services and are very approachable at any time of the day. 

 

M&A 

Apart from clearly having the experience and technical knowledge, we always appreciate their availability and ability to avoid complexity. Above all, the ability to work in the English language despite the complexity of the matters at hand.

Schoenherr

Established in 2004, Schoenherr is a corporate law firm with an office in Sofia. It’s part of the international law firm Schoenherr with 15 offices and 4 country desks in Central and Eastern Europe.   

 

Focusses / specialisms 

The firm is active in banking and finance, corporate and M&A, and in project development. 

In banking and finance, it advises clients on direct financing, acquisition financing and project financing. It’s also active in debt capital markets. 

In corporate and M&A it advises on acquisitions in various sectors, including energy and technology and telecommunications.  

In project development it advises clients in projects in a range of sectors, most notably in energy.   

 

Key clients 

Among its clients are United Group, Guggenheim Partners, China Development Bank, European Bank for Reconstruction and Development, ABN Amro, ING Bank, Siemens Bank, Investec Bank PLC, Deutsche Bank, RGreen Invest, MET Group, Edison Italy, OMV Bulgaria, Woodside Energy, Liechtenstein Group, Bulgarian Telecommunications Company, Ringier and DentaTechnika. 

 

Client feedback: 32nd edition (2022/2023) 

Project development 

"Timely accurate advice and legal services, insightful guidance, in handling the various external suppliers and consultants of the project."

Wolf Theiss

Wolf Theiss is a corporate law firm with an office in Sofia, Bulgaria, established in 2007. The Bulgarian office has 19 lawyers. It’s part of the international law firm Wolf Theiss with 340 lawyers in 13 countries.

 

Focusses / specialisms

The firm is active in banking and finance, corporate and M&A, and project development, advising clients on cross-border transactions. 

In banking and finance the firm advises lenders and borrowers on acquisition finance, project finance, bondholders and issuers on note issues, and financial services providers on regulatory matters. 

In corporate and M&A the firm advises mostly investors and purchasers on corporate governance matters, acquisitions, joint-ventures, and conduct due diligence analysis. 

 
 
Key clients 

Among its clients are Elpedison Energy, Enerjisa Europe, EEM RO Energy Management Romania, ENGIE Romania, DEPA Commercial, EBRD, Glovo, A&M Capital, HG Capital and Vista Equity Partners, Raiffeisen Bank, EIB and Standard Profil Automotive.