Bulgaria’s infrastructure sector has seen major projects completed and many more are planned. With the country facing political turmoil and corruption still an infrastructure buzzword, Kinstellar Partner Antonia Mavrova and Gugushev and Partners Senior Partner Victor Gugushev navigate the intricacies of Bulgarian infrastructure.
If You Build It, They Will Come: Charting Bulgaria’s Capital Markets Resurgence
For Bulgaria’s capital markets, the past ten years saw several landmark developments, large IPOs, and programs and initiatives tailored for small and medium-sized enterprise needs. Penkov Markov & Partners Associated Partner Boris Lazarov, Djingov Gouginski Kyutchukov & Velichkov Partner Gergana Monovska, and Tokushev and Partners Managing Partner Viktor Tokushev walk us through the highlights.
CMS Helps Global Biomet Obtain License for Photovoltaic Plant in Bulgaria
CMS has helped Global Biomet obtain a license for a photovoltaic plant in its portfolio – the 100-megawatt AC capacity Aratiden project – before the Bulgarian State Energy and Water Regulatory Commission.
Closing: Sale of BNP Paribas Personal Finance Bulgaria to Eurobank Now Closed
In June 2023, Boyanov & Co announced that the sale of BNP Paribas Personal Finance Bulgaria to Eurobank (reported by CEE Legal Matters on February 14, 2023) had closed.
Renewables in Bulgaria
Contributed by Gugushev & Partners Law Office
Banking & Finance in Bulgaria
Contributed by CMS.
The Corporate Sustainability Reporting Directive (CSRD) – What It Is and Whom It Concerns
Today, the majority of large companies produce sustainability reports covering their ESG practices. However, one major obstacle to voluntary ESG reporting is the inconsistency of the shared information Companies have the liberty to select their ESG reporting framework and decide what information to disclose, which results in difficulties for investors and other stakeholders to compare ESG risks and impacts uniformly.
CMS and Ivanov & Co Advise on Astronergy Acquisition of Boychinovtsi Photovoltaic Project in Bulgaria
CMS has advised Astronergy on the acquisition of the Boychinovtsi 60-megawatt photovoltaic project in Bulgaria. Ivanov & Co advised the sellers.
Hristov & Partners, BDK Advokati, Legal Advisory Group, and Boyanov & Co Advise on Sale of Aiopsgroup to Valantic
Hristov & Partners and the Legal Advisory Group, working with Hogan Lovells, have advised Aiopsgroup on its sale to Valantic. BDK Advokati and Boyanov & Co, working with Heuking Kuhn Luer Wojtek and Spectrum Legal India, advised Valantic.
Out of Focus: EC Proposals for Changes in The European Pharmaceutical Legislation that Went Unnoticed – Part II
In the previous article, we reviewed in detail some of the proposals of the European Commission for a comprehensive overhaul of European pharmaceutical legislation, contained in the new draft Directive on the Union code relating to medicinal products for human use (the “Directive”) and in the draft Regulation laying down Union procedures for the authorisation and supervision of medicinal products for human use and establishing rules governing the European Medicines Agency (the “Regulation”), which were not addressed by the Bulgarian media.
CMS Advises Astronergy on EUR 54 Million PV Portfolio Refinancing
CMS Sofia has advised Astronergy Solar Bulgaria on receiving a EUR 54 million refinancing for its portfolio of ten operational photovoltaic plants from the recently merged KBC United Bulgarian Bank.
Boyanov & Co Advises Note on Acquisition of ATM Electronics
Boyanov & Co has advised Swedish manufacturing company Note on its acquisition of Bulgarian electronics manufacturer ATM Electronics.
Out of Focus: EC Proposals for Changes in The European Pharmaceutical Legislation that Went Unnoticed – Part I
On 26 April 2023, the European Commission presented its long-awaited proposal for a comprehensive reform of the European pharmaceutical legislation.
Bulgaria Stable Despite Misstep: A Buzz Interview with Alexandra Doytchinova of Schoenherr
In the midst of ongoing political gridlock following Bulgaria's fifth parliamentary election in two years, industries such as energy, renewables, high-tech, and healthcare still make the country an attractive investment destination, according to Schoenherr Office Managing Partner Alexandra Doytchinova.
Capital Markets in Bulgaria
Contributed by Tsvetkova Bebov and Partners, a member of Eversheds Sutherland.
Schoenherr and Freshfields Advise on EUR 1.4 Billion Sale of Cargo-Partner Subsidiaries to Nippon Express
Schoenherr, working with Luther and Hogan Lovells, has advised the Cargo-Partner Group Holding on its EUR 1.4 billion sale of Cargo-Partner GmbH and 60 other subsidiaries to Nippon Express Holdings. Freshfields Bruckhaus Deringer advised the buyer.
Bulgaria: Trends Toward Floating Solar, Agrivoltaics, and Offshore Wind
Bulgaria has great potential and is currently attracting major investors interested in large-scale renewable energy projects. Currently, over 1,500 megawatts of solar and over 800 megawatts of wind projects are operating. Still, the country’s power generation is highly dependent on its baseload power capacity coming from thermal power plants (over 3,600 megawatts). However, to meet the net zero economy targets, renewables could be the solution to replace these capacity volumes. Thus, at least 2,600 megawatts in RES capacity are expected to be installed by 2025, to allow Bulgaria to meet its target of 30.33% of energy produced from renewable sources.
Kinstellar, ODI, Jadek and Pensa, and Bradvica Maric Wahl Cesarec Advise on TAWAL's EUR 1.2 Billion Acquisition of United Group CEE Tower Assets
Kinstellar and ODI Law, working with Morgan Lewis London, have advised TAWAL on its bid to acquire the Bulgarian, Croatian, and Slovenian tower assets of the United Group for EUR 1.2 billion. Jadek and Pensa and Bradvica, Maric, Wahl, Cesarec advised the United Group. Paul Weiss and Kambourov and Partners reportedly advised United as well.