News & Deals


Borislav Boyanov & Co. Advises and Implements Redundancy for International Food Manufacturer

The firm provided advice in connection with the complete shutdown of an international food producer’s operations in Bulgaria, including regulatory advice on collective redundancy requirements and legislation, handling negotiations with trade unions and employees regarding severance packages and other related issues.     Copyright picture:


Construction / Real Estate Work Highlights until 2007

The firm advised Deutsche Bank on the sale of the biggest office building complex in Bulgaria – Business Park Sofia; The firm provided advisory services on the acquisition of around 115,000 sq. m. of real estates for the construction of a logistic park near Plovdiv; The firm provided advisory services on the acquisition of the […]


Energy Derivatives Transactions for a US Investment Bank

Borislav Boyanov & Co. acted for a major US investment bank by providing advice on various aspects of trading in commodity derivatives including electricity, gas and emissions.   Copyright picture:


Petroleum Refinery Project in Silistra

  The firm acts for the Petromaxx Energy Group on corporate, financing and other legal matters related to the planned Petromax petroleum refinery construction near the town of Silistra, in the north-east of Bulgaria – a green-field project with an estimated value of over $170 million.   Copyright picture:


Firm Acts for Creditors in Former Bulgarian National Arilines’ Bankruptcy Proceedings

Following the insolvency of the former Bulgarian national flag carrier Balkan Airilnes, Borislav Boyanov & Co. represents a number of creditors of the airline in its ongoing bankruptcy proceedings. Our clients include Laufer Aviation, Amadeus GTD, ATR France, Air BP Ltd., companies from Total Group, and others.     Copyright picture:


Construction Products Joint Venture Established by Fisher Profil

Borislav Boyanov & Co. provided assistance and support to Fisher Profil (a subsidiary of Corus, part of Tata Steel) on the setting up and future development and expansion of its joint-venture plant in Bulgaria.     Copyright picture:


EFG Local Banking Group Reorganization Assisted by Borislav Boyanov & Co.

EFG Eurobank successfully completed the reorganization of its banking group in Bulgaria after it acquired DZI Bank. The reorganization comprised the merger of its existing banking subsidiary EFG Eurobank Bulgaria (formerly Bulgarian Post Bank) with newly acquired DZI Bank. Borislav Boyanov & Co. provided outside counsel advice to the  merger (on both corporate and regulatory matters) that […]


New Structure of McDonald’s in Bulgaria

After McDonald’s decided to introduce a new business model in Bulgaria, Borislav Boyanov & Co. assisted them in transferring their existing Bulgarian business to a third party and then to enter into a franchise with the new owners. The firm continues to act as outside counsel to the restaurant chain in Bulgaria, currently operated by […]


DZI Group Sale

The firm represented and provided assistance to the DZI Group’s majority owner on the sale of its interest in two major insurance companies (DZI (Life Insurance) and DZI General Insurance) and DZI Bank. The targets were acquired by KBC and EFG Eurbank. The firm’s team was involved in the vendor due diligence, organizing the buyer due diligence […]


SBS Investments in the Radio and TV Markets in Bulgaria

The firm advised SBS Broadcasting (the second largest media company in Europe) on the acquisition of several radio networks in Bulgaria, including Radio Vitosha, Ritmo and Atlantic, Radio Vesselina and Radio Express, and on the acquisition of a music TV channel in Bulgaria. Following the acquisitions, the firm has been handling the client’s current legal matters […]


Multinational EUR 285 Million Financing for Warburg Pincus

In July 2006 – November 2006, Borislav Boyanov & Co. assisted Warburg Pincus on the refinancing of its Bulgarian acquisitions, within the scope of a larger refinancing transaction covering several East and South European jurisdictions with total value above EUR 285 mio.   Copyright picture:


VAT Tax Cases for a Major Commodities Trading Company

Borislav Boyanov & Co.’s litigation team represented a major international commodities trading house, in a VAT litigation relating to its purchasing and export of grains from Bulgaria. The total interest defended was over BGN 700,000. On judicial review the Supreme Administrative Court annulled the tax assessments issued against the client, and ruled that the Bulgarian company had the right to VAT […]


Landmark Judgment for the Pharma Industry Delivered by the Supreme Administrative Court

Borislav Boyanov & Co., represented the Association of the Researched-based Pharmaceutical Manufacturers (ARPharM), the Association of the American Pharmaceutical Companies at the American Chamber of Commerce in Bulgaria and the Bulgarian Association for Protection of Patients in a claim with Sofia City Court against a decision of the Management Board of the National Health Insurance […]


Boyanov & Co. Advises TNK-BP on Burgas-Alexandroupolis Oil Pipeline

Borislav Boyanov & Co. has been advising TNK-BP and other major multinational oil companies supporting the implementation of the long-discussed Burgas – Alexandroupolis transit oil pipeline project. The more than 1 billion USD project has been discussed since 1993 and is now gaining impetus. Borislav Boyanov & Co. has provided advice for companies supporting the […]


Borislav Boyanov & Co. Advised Enel in Respect of its Acquiring Full Control of Maritsa East 3 Power Plant

The firm advised Enel Produzione SA in 2003 on its participation as main sponsor together with the Entergy, USA in a €580 million project finance transaction involving the privatisation and modernisation of one of the biggest thermal power stations in Bulgaria (Maritsa East 3 Project). In a subsequent transaction Enel acquired the stake held by Entergy in the […]


Borislav Boyanov & Co. Advises Major US Nuclear Technologies Provider on the Belene Nuclear Power Plant Project

As part of the biggest investment initiative yet in Bulgaria’s energy sector (estimated value of around Euro 2 billion), the firm’s services were retained by a major US based energy solutions provider in connection with its potential participation in the construction of the Belene nuclear power plant. The Belene nuclear power plant is a brownfield project […]


Property Team Advises DC Management on Real Estate Acquisitions

Borislav Boyanov & Co. has advised and assisted DC Management (formerly known as the Black Sea Property Fund) for the financing and acquisition of a number of hotel and residential complexes located at the Black Sea coast and in the capital of the country based on sophisticated schemes.     Copyright picture:


Boyanov & Co. to Advise the Bulgarian Ministry of Transport

In February 2006, the UK law firm Addleshaw Goddard and Borislav Boyanov & Co. were appointed to advise the Bulgarian Ministry of Transport on the current disputes between the Ministry and the Austrian construction company Strabag with respect to the construction of the new terminal of the Sofia Airport.     Copyright picture:


EBRD Finances Major Resort Development

Borislav Boyanov & Co. in co-operation with the London office of Bird & Bird advised the European bank for Reconstruction and Development on its financing provided to a major developer of hospitality real estate on the Bulgarian Black Sea Coast – for construction and opening of Kempinski Grand Hotel Hermitage in the resort Golden Sands […]


Borislav Boyanov & Co. Acts for Financing Parties on EUR 875 Million Syndicated Loan Facilities to Bulgaria Telecom and its Parent

Borislav Boyanov & Co. acted as Bulgarian special counsel to a syndicate of international banks and other financial institutions led by Citigroup and Landsbanki providing finance to Viva Ventures Holding GmbH, Austria, the holding company of the Bulgarian Telecommunications Company (the incumbent fixed line telecommunications operator in Bulgaria), in the amount of EUR 525 million […]