BOYANOV & Co. advised NewMed Energy Balkan on the Acquisition of Interest in a Black Sea Gas Exploration License from OMV Offshore Bulgaria
March 2025
Our member firm BOYANOV & Co. advised NewMed Energy Balkan, a subsidiary of the Israeli company NewMed Energy, on the acquisition from OMV Offshore Bulgaria, a subsidiary of OMV Petrom, of a 50% interest in the oil and gas exploration permit for the 1-21 Khan Asparuh Block, located in the exclusive economic zone of Bulgaria in the deep Black Sea.
The transaction was completed on 12 March 2025 by the Ministry of Energy of Bulgaria singing the relevant agreement with the two parties after approval of the Bulgarian Council of Ministers.
NewMed Energy is Israel’s leading energy…
BOYANOV & Co. Facilitates Successful Acquisition of United Health Insurance Fund Doverie by Generali CEE
February 2025
Our member firm BOYANOV & Co. has announced the successful closing of the acquisition of United Health Insurance Fund Doverie by Generali CEE Holding, which took place on 11 February 2025.
Generali’s acquisition of Doverie is expected to bring substantial benefits to policyholders, including enhanced service offerings and broader access to healthcare services. This move aligns with Generali’s long-term strategy to strengthen its market position and deliver exceptional customer value. As a result of this strategic acquisition, Generali has become the second-largest player…
The “Right of Free Movement” in the Light of EU Cross-border Transformation
January 2025
Hristian Gueorguiev, Senior Associate
BOYANOV & Co.
The Bulgarian Parliament has recently adopted an Act to amend and supplement the Bulgarian Commercial Act¹ implementing the requirements of Directive (EU) 2019/2121 of the European Parliament and of the Council of 27 November 2019 amending Directive (EU) 2017/1132 as regards cross-border conversions, mergers and divisions.
I. INTRODUCTION OF CROSS-BORDER DIVISIONS
1. General requirements
Prior to the adoption of the amendments, the Commercial Act provided for a possibility only for cross-border mergers under…
The EU Strategy for Cooperation in the Indo-Pacific Revisited: A Transformative Opportunity for Bulgarian Business Companies
January 2025
Ambassador Petar Andonov, Business Development Director(*)
BOYANOV & Co.
Introduction
The European Union’s Strategy for Cooperation in the Indo-Pacific, launched in October 2021, marked a significant shift in the EU’s foreign policy. It represented a comprehensive approach to engaging with the region of the Indo-Pacific, which is increasingly recognized as a global economic and strategic hub. Together, the Indo-Pacific and Europe hold over 70% of global trade in goods and services, as well as 60% of foreign direct investment (FDI) flows.
Assessment of Present-Day Position
Almost…
Technology M&A Guide 2025 - Bulgaria
January 2025
Our member firm BOYANOV & Co. has authored the chapter for Bulgaria in the newly published "Technology M&A 2025" guide by the leading global legal directory Chambers and Partners.
This comprehensive resource is designed for both businesses and legal professionals seeking insights into the evolving landscape of technology mergers and acquisitions.
You may access the chapter for Bulgaria here.
BOYANOV & Co. Assists Sopharma in Completing Initial Stage of Strategic Pharmaceutical Portfolio Acquisition
December 2024
Sopharma AD, Bulgaria’s leading pharmaceutical company, initiated an acquisition of a substantial portfolio comprising consumer healthcare and prescription products.
At the end of November 2024, Sopharma announced the completion of the due diligence procedures, marking the conclusion of the first stage of the acquisition. At this juncture, an amount of EUR 40 million was disbursed. The subsequent steps involve the transfer of marketing authorisations and trademarks, alongside the organisation of trading activities in the respective markets.
Our member firm, BOYANOV & Co.,…
Key Takeaways of the International Conference "Life-Cycle of Start-Ups: Challenges"
December 2024
On 7 November 2024, BOYANOV & Co. with the support of the European Investment Bank organised the international conference “Life-Cycle Challenges of the Start-Ups”. The event focused on navigating the landscape of the Bulgarian start-up ecosystem through its major challenges in 2025; government programs, grants, and EU funds for financing start-ups in 2025; and broadening horizons for international expansion of the CEE start-ups and venture capital funds. With this conference, BOYANOV & Co. reaffirmed its commitment to supporting the start-up ecosystem in Bulgaria.
Here…
Conference: Life-Cycle Challenges of Startups (Sofia, Bulgaria)
October 2024
Our Bulgarian member firm, BOYANOV & Co., in collaboration with the European Investment Bank (EIB), is organising a conference dedicated to the key challenges faced by startups throughout their life cycle. The event will bring together entrepreneurs, investors, financial and legal experts, and will take place on Thursday, 7 November 2024, at Hilton Sofia, starting at 9:00 AM.
The main topics will include navigating the startup ecosystem and venture capital funds before the start of 2025, lessons for startups and venture capital funds from the experience of leading foreign lawyers,…
BOYANOV & Co. Assists Sopharma on the Аcquisition of a Large Pharmaceutical Products Portfolio
October 2024
On 4 October 2024, the biggest Bulgarian pharma company Sopharma AD (SFA: Bulgarian Stock Exchange, SPH: Warsaw Stock Exchange) initiated a transaction to acquire a large pharmaceutical product portfolio, consisting of both CHC and prescription products.
The acquisition covers 68 marketing authorisations with 14 well-known brands in 10 of the traditional markets of Sopharma. The transaction will take effect in several stages, and its closing is subject to certain conditions precedent.
BOYANOV & Co. played a crucial role in assisting Sopharma with successfully negotiating and…
BOYANOV & Co. Represents Generali in the Acquisition of United Health Insurance Fund Doverie
August 2024
BOYANOV & Co. has announced that it has successfully represented Generali CEE Holding in acquiring United Health Insurance Fund Doverie, one of Bulgaria’s largest health insurance providers. This strategic acquisition marks a significant milestone in Generali’s expansion within the Bulgarian market.
The deal, announced on 1 August 2024, underscores Generali’s commitment to enhancing its presence in the health insurance sector and providing comprehensive healthcare solutions to its clients. BOYANOV & Co.’s legal expertise and dedication were instrumental in navigating…
The Supreme Administrative Court Has Ruled: Failure to Declare Is No Reason to Pay Default Interest on Correctly Accrued And Timely Paid Advance Corpo...
July 2024
Author: Meglena Konstantinova, Senior Associate
The Supreme Administrative Court (SAC) ordered the National Revenue Agency (NRA) to repay default interest charged on precisely defined and fully paid advance corporate income tax instalments that were not declared.
The court, in a final decision dated 21 March 2024, ruled that a company’s appeal against an act of set-off and recovery issued by the NRA was justified. By the act of set-off and recovery, the NRA refused to reimburse the company for the default interest charged on the advance corporate income tax instalments for 2021,…
BOYANOV & Co. Advised UniCredit Bulbank and United Bulgarian Bank on the Financing of the Acquisition by Plastchim-T of Manucor S.p.A, Italy
May 2024
Plastchim-T is a Bulgarian company, that is one of the leading privately owned European manufacturers of biaxially oriented polypropylene films (BOPP), cast polypropylene films (CPP), and flexible packaging products. Manucor is an Italian company founded in 1987 and has grown to become a major biaxially oriented polypropylene (BOPP) manufacturer. The acquisition will expand the existing joint manufacturing capacity up to 200,000 tons annually, strengthen the logistics and distribution network in Europe, as well as allow film lineup by adding a significant base of loyal clients.
The team…
