BOYANOV & Co. Advises Banks on Financing of ARICOMA Group’s Acquisition of Musala Soft

September 2022 BOYANOV & Co. advised a syndicate of banks led by Česká spořitelna and including Československá obchodní banka and Komerční banka on the Bulgarian law aspects of financing to support the acquisition by KKCG Group and its portfolio company ARICOMA Group International AB of Musala Soft, a prominent Bulgarian software company, and its subsidiaries. ARICOMA Group is a leading Central European IT services provider with a significant Scandinavian presence. The company provides services to 1000+ clients in 18 markets from its 15 European delivery centers. With the acquisition…

BOYANOV & Co. Advised Mondelez International on the Acquisition of Chipita S.A.

August 2022 After successfully advising Mondelez International (Nasdaq: MDLZ) on all Bulgarian law aspects in the acquisition of the Greek snacking company Chipita S.A. (for approximately USD 2 billion), since the beginning of this year, BOYANOV & Co. has advised Mondelēz International, Inc. on the Bulgarian legal aspects of the formal integration of the Chipita S.A.’s business in Bulgaria. It was completed at the beginning of July 2022 (press release is available here). The process was complex and involved the transfer of shares, in-kind contributions, and sales of parts of the going…

BOYANOV & Co. Advised Yara International ASA

August 2022 BOYANOV & Co. advised Yara International ASA regarding all legal matters on the sale of separate parts of Yara International ASA’s Bulgarian and Romanian business related to the provision of agricultural software services (namely the software AgroOffice). The transaction was structured as a sale of the respective parts of the going concerns of Yara Bulgaria EOOD and Yara Digital Romania SRL and was completed successfully earlier this month. BOYANOV & Co.’s team included Corporate and M&A Partner Yordan Naydenov, IP Partner Stela Sabeva, and Counsel Mihail Vishani…

Metinvest Group is Considering Building a New Plant in Bulgaria

July 2022 The Ukrainian mining and metallurgical group Metinvest (owner of the destroyed plant Azovstal) is considering building a new metallurgical plant in Bulgaria or Italy.

Armored Vehicles Plant in Bulgaria

July 2022 Leading producer of specialized armored vehicles International Armored Group (IAG) announced its intentions for building a plant in Burgas. The construction of the plant is planned to begin at the end of 2022. The main production facility is expected to be finished in 2024. The initial investment in the facility is estimated at BGN 20 million.

Eberspaecher is Building a Plant in Bulgaria

July 2022 German automotive supplier Eberspaecher will build a factory for electrical heaters for electric vehicles and plug-in hybrid models in Ruse. The company is planning to start production in 2023.

Personal Data Protection Risks of Employee Diversity and Inclusion Programmes in Bulgaria

June 2022 Authors: Nikolay Zisov, Deyan Terziev, BOYANOV & Co. Over the last few years, diversity and inclusion have become more than policies, programmes, or headcounts. More and more companies in Bulgaria aim to achieve a certain percentage of employees who belong to a religion or ethnic group, as well as the inclusion of such persons at different work process levels, including by respecting their customs and traditions. However, such initiatives often face legal challenges, specifically in view of compliance with the applicable personal data protection laws. Partner Nikolay Zisov and…

BOYANOV & Co. Nominated Best Law Firm: Central Eastern Europe at the International Legal Alliance Summit & Awards

June 2022 BOYANOV & Co. was nominated in the category Best Law Firm: Central Eastern Europe at the 13th edition of the International Legal Alliance Summit & Awards (ILASA) held in Paris on 1 June 2022. The ceremony brought together more than 500 senior representatives from leading law firms as well as general counsel from all around the world. BOYANOV & Co. is the only Bulgarian law firm that has been listed among the best law firms in Central Eastern Europe and we are proud to receive this special recognition by this prestigious jury of ILASA.

BOYANOV & Co. advised on the acquisition of Star Motors – the authorized Mazda dealer in Bulgaria and Republic of North Macedonia

May 2022 BOYANOV & Co. advised the buyer’s side on the acquisition of Star Motors EOOD. Star Motors, Sofia ( and Star Motors, Skopje ( are well-established and successful dealerships of the Japanese brand MAZDA in the region. The Star Motors Group offers the full range of new Mazda cars produced for the European market, as well as the full range of related services – from after-sales service-mechanical repairs, paint and bodyshop repairs, spare parts, lifestyle accessories, and extended warranty. BOYANOV & Co. provided full legal assistance…

Development of Two Wind Farm Projects

April 2022 It was announced that Germany-headquartered renewable energy developer wpd, is planning to invest in the construction of two wind farms located near the city of Dobrich in north-eastern Bulgaria. The company plans the construction of two wind farms with a total power capacity of 75 –100 megawatts. The estimated value of the investment in such capacity is expected to be worth between EUR 90 and 120 million.

11th Balkan Legal Forum 2022 - Legal Practice Transformation

The 22-year Anniversary of the Balkan Legal Forum ("BLF") of the International Bar Association will be held on 30 June and 1 July 2022 in Vienna, Austria. Our special focus will be put on the legal practice transformation - applying the lessons we learnt from the past 20 years and discussing the challenges that we are going to face in the next 20 years. All sessions of the Forum will be led by highly regarded international managing partners and consultants from Europe, the USA, Latin America, and Asia. The Forum is marked by the personal support of Mr. Horacio Bernardes Neto, President of the…

BOYANOV & Co. and KALO & ASSOCIATES Advised on the Sale of One Telecommunications

March 2022 After having advised on the acquisition (including the acquisition financing) of One Telecommunications - the second-largest mobile operator in Albania, in 2019 from OTE / Deutsche Telekom and the refinancing of the original acquisition financing in 2021, at the end of 2021 and the beginning of 2022 BOYANOV & Co. and KALO & ASSOCIATES advised the sellers on the sale of One Telecommunications to the Hungarian IT service management company 4iG. The transaction was successfully closed on 21 March 2022. BOYANOV & Co.’s team was led by partner Damian Simeonov and included…