A Bulgarian Operator Launched the First Ever Satellite for the Balkan Region

The Bulgarian pay-TV and broadband operator Bulsatcom launched in 2017 a geostationary communications satellite produced by the Space Systems/Loral (SSL) based in the Silicon Valley. The satellite costs around EUR 150 million and will enable Bulsatcom to provide DTH services directly to households in Southeast Europe. At least 60% of the capacity will be offered to other operators. This is the first ever communications satellite, which will serve specifically the Balkan region.

Investment Proposal from Agria Group Holding JSC

Agria Group Holding JSC, which is a company specializing in agricultural production, grain and oil-bearing cultures’ trade, storage, processing, transportation and logistics, announced an investment proposal for the construction of Port for public transportation with regional importance for dry and liquid non-hazard bulk on the territory of Beloslav, which may be funded by the European Investment Bank.

Loans for Completion of Major Infrastructure Projects in Bulgaria

At least six major infrastructure projects (mostly in the railway sector) for over EUR 1 billion, initially financed through the EU operational programmes, will need to be completed with funding from the state budget and borrowed funds.

Sofia Civil Airport

A concession procedure for the Sofia Civil Airport has been announced on 2 July 2018 by the Minister of Transport of the Republic of Bulgaria for designation of a concessionaire and award of a concession for construction of Civil Public Airport Sofia, which is a public state property. The announced concession has an estimated value of EUR 3,898 229 907 excluding VAT. The term of the concession is 35 years. The concessionaire shall pay the initial concession remuneration that amounts to BGN 550 million excluding VAT. The minimum investment requirement amounts to EUR 600 million for the term of the…

CEZ Withdraws Its Investments from Bulgaria

At the beginning of 2018, the Czech electricity distribution company CEZ EAD announced that it is selling its assets in Bulgaria to the Bulgarian company Inercom at a price of EUR 320 million. In September 2018 the deal was suspended by the Bulgarian Commission for Protection of Competition.

Telus International Europe Plans to Expand their Business in Bulgaria

The largest BPO company in Bulgaria, Telus International Europe, through its subsidiary Callpoint New Europe, plans to expand its personnel in Bulgaria by opening 2000 new jobs until the 2020. The Bulgarian unit of Telus Interantional Europe services nearly 50 international companies, primarily in the sectors of telecommunications and technology, digital services, logistics, tourism, IT, gaming and finance.

BOYANOV & Co. Contributed to Getting the Deal Through: Product Liability 2018

Kina Chuturkova, Head of the Dispute Resolution Practice Group, and Stela Sabeva, Senior Associate and Co-Head of IP Department (Trademarks), contributed to the Bulgarian chapter of Getting the Deal Through: Product Liability 2018, published by Law Business Research Ltd, London in July 2018. The edition provides comparative analysis of product liability regulation in 23 jurisdictions worldwide, offering expert local insight with answers to crucial questions in areas such as: civil litigation system, evidentiary issues and damages, litigation funding, fees and costs, sources of legal framework,…

NPP Belene's Project Reopened

In June 2018, the Bulgarian Parliament adopted a decision to reopen the search of options for building the NPP Belene. The National Electric Company said that besides the official statements made by Russian and Chinese companies, a Korean investor is also interested in the project.

BOYANOV & Co. Acted as Special Bulgarian Counsel to BNP Paribas, Citigroup Global Markets Limited and J.P. Morgan Securities plc

BOYANOV & Co. acted as special Bulgarian counsel (alongside Allen & Overy as lead international counsel) to BNP Paribas, Citigroup Global Markets Limited and J.P. Morgan Securities plc in their capacity as the Joint Bookrunners...

BOYANOV & Co. Advised Vivacom

BOYANOV & Co.’s finance team, led by Partner Damian Simeonov and Senior Associate Ralitsa Nedkova and Freshfields’ Vienna-based English law finance team, led by Blair Day advised Vivacom, a leading Bulgarian telecommunications business, on the successful refinancing of its EUR 400m senior secured notes. The refinancing involved EUR 345m of debt from a syndicate of more than a dozen financial institutions, granted on more favourable terms. For more information, please see the press release of Vivacom by clicking here.

BOYANOV & Co. Advises Texas Instruments on the Bulgarian Aspects of the Sale of its Stake in MM Solutions AD to ThunderSoft

On 28 March 2018 the sale of the Bulgarian leading graphics and imaging technology company MM Solutions to China’s Thunder Software Technology (ThunderSoft) was completed. BOYANOV & Co. advised one of the sellers – Texas Instruments on the Bulgarian legal aspects of the sale of its shareholding in MM Solutions. BOYANOV & Co.’s team was led by Nikolay Zisov, Partner.

Borislav Boyanov, President of The Maltese-Bulgarian Business Chamber and Joseph G. Grech, President of The Gozo Business Chamber Signed a Memorandum ...

As part of the Bulgarian-Maltese Business Forum, held on 5th February 2018 in Sofia, Mr. Borislav Boyanov, President of The Maltese-Bulgarian Business Chamber and an Honorary Consul of Malta in Bulgaria signed a Memorandum of Understanding with Mr. Joseph G. Grech, President of The Gozo Business Chamber in Malta. The Bulgarian-Maltese Business Forum was organised in Sofia by the Bulgarian Small and Medium Sized Enterprises Promotion Agency as part of the Maltese President H.E. Marie-Louise Coleiro Preca’s state visit in Bulgaria. During the Forum four agreements and memoranda of understanding…