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2026 Edition

Act legal Bulgaria is a Bulgarian corporate law firm with an office in Sofia, founded in 2004. The firm is active in corporate and M&A and project development.

 

Highlights 

The firm has advised the developer of built-to-suit retail parks in the countryside on the entire projects. The advice is currently ongoing. 

The firm also provided legal advice on a regular basis for the capital increase of Craft Hub Ltd. via in-kind contributions of real estate made on two portions. The transaction is currently ongoing. 

 

 

 
BOYANOV & Co. maintains a strong financial and corporate practice in Bulgaria, advising domestic and international clients across banking and finance, M&A and complex corporate transactions. The firm is particularly active on cross-border mandates, acting for financial institutions, strategic investors and multinational companies on the Bulgarian aspects of significant transactions.

The practice advises on acquisitions, corporate structuring, financing arrangements and regulatory matters, with experience across financial services, energy, pharmaceuticals, technology and other regulated sectors. The team combines local market knowledge with experience coordinating transactions involving international investors and advisers.

The firm's client portfolio reflects its broad transactional and sector capabilities, including major international businesses and financial institutions.

Key clients

Westinghouse Electric; Generali Insurance; Eurobank Group; Warner Bros. Discovery; Sopharma.
CERHA HEMPEL Gerginov maintains an active financial and corporate practice in Bulgaria, advising domestic and international clients across banking and finance, corporate transactions and M&A. The team supports businesses and investors on acquisitions, corporate structuring, commercial arrangements and other transactional matters, including mandates with cross-border elements.

The firm also advises on project development matters, supporting investors and businesses on the corporate, financing and commercial aspects of projects in Bulgaria. Its client portfolio reflects experience advising major international companies across technology, industrial and consumer-facing sectors.

Clients include Carl Zeiss, Samsung, DXC Technology, Hewlett Packard Enterprise and Pierer, reflecting the firm's international corporate client base and experience supporting multinational businesses operating and investing in Bulgaria.

Key clients

Carl Zeiss; Samsung; DXC Technology; Hewlett Packard Enterprise; Pierer.

Established in 2005, CMS Sofia is a full-service corporate law firm with an office in Sofia. It has a team of over 30 lawyers, and it’s part of the international law firm CMS consisting of more than 4800 law and tax professionals in more than 40 jurisdictions. The firm is active with mostly cross-border work in banking and finance, corporate and M&A, and project development. 

 

Highlights 

The firm advised Rezolv Energy in securing up to EUR 90 million in debt financing from the International Finance Corporation (IFC) and Raiffeisen Bank International to support the construction of the ‘St. George’ solar park in north-eastern Bulgaria. The transaction closed in December 2024. 

The M&A team assisted CEE Realty Beteiligungs on the sale of the entire shareholding of its subsidiary, CEE Realty EOOD. 

 

 

 
 

Deloitte Legal Law Firm is a corporate law firm with an office in Sofia, Bulgaria since 1992. It is part of the international law and tax firm Deloitte with offices in more than 80 jurisdictions where more than 2,500 legal professionals provide a broad range of legal services. The firm is active in banking and finance and corporate and M&A.

 

Highlights 

The firm advised client Kongsberg Gruppen ASA, through its subsidiary Kongsberg Digital AS, which acquired the last portion to 100% of InterConsult Bulgaria. The transaction closed in June 2024. 

The team also acted as a legal adviser to the local subsidiaries of the Cargotec group, providing legal support to the client to meet local regulatory requirements so that their business can operate normally. The advice is currently ongoing. 

 

Established in 1997, Dimitrov Petrov & Co is a corporate law firm with offices in Sofia and Varna, Bulgaria. The firm is active in banking and finance, corporate and M&A and project development.

 

Highlights

The M&A team advised client New Capital Management throughout the whole process of acquisition of Olimex. The transaction closed in November 2024. 

The Banking & Finance team advised the same client during the purchase of a company from the portfolio of the Eurobank Bulgaria. The transaction closed in February 2024. 

 

Djingov Gouginski Kyutchukov & Velichkov (DGKV) maintains a leading financial and corporate practice in Bulgaria, advising major financial institutions, investors and corporates across banking and finance, M&A, capital markets and complex cross-border transactions. The firm is particularly active on sophisticated financing mandates, combining strong transactional capabilities with detailed knowledge of the Bulgarian financial and regulatory environment.

The banking and finance team regularly advises lenders and financial institutions on acquisition finance, corporate lending, project finance and other financing structures. The practice also supports international clients on transactions involving multiple jurisdictions, working closely with financial institutions, investors and other advisers on the Bulgarian aspects of significant mandates.

DGKV also maintains a strong project development and project finance practice, with particular experience across energy, renewable energy and infrastructure. The team advises lenders, investors, developers and contractors on the financing, development and regulatory aspects of major projects, allowing it to combine finance expertise with sector-specific knowledge.

Clients consistently praise the firm's technical expertise, responsiveness and commercially focused advice. Feedback highlights particularly strong lender-side capabilities, project finance and renewable energy expertise, as well as effective coordination on multijurisdictional matters. The banking team receives particularly strong recognition for its professionalism, commercial judgement and ability to provide practical solutions on sophisticated transactions.

Key clients

Citigroup Global Markets Europe; EBRD; UniCredit Bulbank; DSK Bank; OTP Bank; Santander Bank Polska; Noble Corporation; Gilat Satellite Networks.

Testimonials

“Market-leading banking and finance expertise.” (Banking and finance)

“Excellent lender-side capabilities and strong commercial judgement.” (Banking and finance)

“Deep project finance and renewable energy expertise.” (Project development / Project finance)

“Highly responsive and commercially focused advice.” (Financial and corporate)

“Strong coordination across complex multi-jurisdictional matters.” (Financial and corporate)

“Professional, practical and solution-oriented.” (Banking and finance)

Dobrev & Lyutskanov is a corporate law firm with an office in Sofia, Bulgaria, established in 1989. The firm is active in banking and finance, corporate and M&A and project development. 

  

Highlights

The firm advised BULGARCONSERV RUPITE Ltd. regarding a share transfer, the admission of new shareholders in the company, and the reduction of the shareholding of the majority shareholder. The transaction was valued at USD 17,250 and closed in December 2024. 

The team also advised Complete Dental Solutions Ltd. regarding the potential acquisition of another Bulgarian company registered as a medical facility. The transaction closed in October 2024. 

 

Eversheds Sutherland Bulgaria maintains a strong financial and corporate practice, with particular capabilities across banking and finance, capital markets and financial services matters. The team advises domestic and international financial institutions, corporates and investors on financing transactions, regulatory issues and complex corporate matters.

The practice is particularly experienced in cross-border banking and capital markets work, including mandates requiring coordination between Bulgarian and international legal and regulatory frameworks. Its client base reflects a strong institutional focus, including major banks, asset managers and public-sector entities.

The firm also advises international corporate clients on transactions and strategic matters in Bulgaria, combining local market expertise with experience supporting multinational businesses and financial institutions.

Key clients

Parker-Hannifin Corporation; Energo-Pro; TBI Bank; KBC Asset Management; Republic of Bulgaria – Ministry of Finance; Allianz Bank Bulgaria.

Georgiev Todorov & Co is a corporate law firm with an office in Sofia, Bulgaria, founded in 1991. The firm is active in banking and finance, corporate and M&A and project development. 

 

Highlights

The firm has advised Belozem Solar Park 2 on the approval by the Energy and Water Regulatory Commission of the bank financing for the construction and operation of a large-scale solar plant in Maglizh. The transaction was valued at EUR 103 million and closed in March 2024. 

The team also advised PV Plants on the approval by the Energy and Water Regulatory Commission of the bank financing for the construction and operation of a large-scale solar plant in Ihtiman. The transaction closed in January 2025. 

 

 

 

Founded in 2007, Gugushev & Partners is a corporate law firm with an office in Sofia, Bulgaria. The firm is active in corporate and M&A. It has experience advising all sides of the table on acquisitions, sales, JVC establishment and various corporate matters. 

 

Highlights

The firm advised the client on 10Y investment bank loan for the construction of a photovoltaic power plant wwith 1.2MWp installed capacity. The transaction closed in April 2024. 

The M&A team advised Dataciders Group on its acquisition of Bulgaria-based IT service provider ROITI. The transaction closed in December 2024. 

 

 

Founded in 2002, Ilieva Voutcheva & Co is a full-service law firm with an office in Sofia, Bulgaria. It is part of Globalaw, a network of more than 180 firms independent law firms in more than 80 jurisdictions. The firm is active in M&A and project development. 

 

Highlights 

In M&A, the firm provided legal counsel on the corporate restructuring of the client’s primary entity, focusing on the separation of distinct business lines into independent legal entities. The transaction closed in June 2024. 

The firm also advised a Bulgarian company specializing in hospitality in their attempted acquisition of a hotel in Greece. The transaction closed in July 2024. 

 

 
Kinkin & Partners maintains a broad financial and corporate practice in Bulgaria, advising domestic and international clients across banking and finance, M&A, corporate restructuring and capital markets matters. The firm supports businesses and investors on financing arrangements, acquisitions, corporate structuring and other transactional matters.

The practice also has experience advising on project finance and project development, supporting investors and businesses on the financing, corporate and commercial aspects of development mandates. Its client portfolio reflects activity across investment, development, financial services and other commercial sectors.

Key clients

Capital Markets o.c.p., a.s.; Future Investment; Alliance Service; Mind Logistics; Intershop Communications AG; Prime Development., Tower Distribution; Infragrup; Alliance Services; Millennium Gate Bulgaria; ID Venture.

Komarevski Dimitrov & Partners is a Bulgarian law firm based in Sofia. The firm is involved in M&A and project development deals. 

 

Highlights 

In M&A, the firm assisted a buyer in its acquisition of its Bulgarian supplier in a two-phase acquisition. While originally planed for 2026, phase two was accelerated and completed in April 2024. 

The M&A team also advised Ceres Property Services on the local legal aspects of a corporate restructuring in Bulgaria. The transaction closed in May 2024. 

 

 
 

Established in 1990, Penkov Markov & Partners is a corporate law firm based in Sofia. The firm is active in banking and finance, corporate and M&A, and project development.  

 

Highlights 

The firm advised their client, Unilink S.A., on the acquisition of the SDI Group AD. The transaction was valued at USD 54,297,000 and closed in March 2024. 

The M&A team assisted a client in the structuring, negotiating and execution of a transaction related to the acquisition 80 % of the equity shares of Multi-profile hospital for active treatment (MBAL) Skin Systems and 80% of the equity shares of Medical Centre (MC) Skin Systems, as well as acquisition of the hospital’s buildings and other related to the activity real estate. The transaction closed in January 2025. 

 

 

 
 
 

Peterka & Partners is a corporate law firm with an office in Sofia, Bulgaria. The first office of the firm was established in 2000 in Prague, Czech Republic and today it has offices in Bulgaria, Hungary, Poland, Romania and Slovakia.

 

Highlights

The firm provided legal support to a client with respect to the sale of a set of assets representing a complete manufacturing site, including land, production facilities, and a related photovoltaic electric power plant. The transaction closed in November 2024. 

The M&A team also advised a client in relation to the sale of one of the client’s subsidiaries in Bulgaria. The transaction closed in January 2025. 

 

Spasov & Bratnov maintains a strong financial and corporate practice in Bulgaria, advising banks, financial institutions, investors and corporates across banking and finance, investment transactions and corporate matters. The firm is particularly experienced in lender-side financing work, combining technical banking expertise with detailed transaction execution.

The practice advises on financing documentation, due diligence, investment and fund structures and other financial transactions. Its client portfolio includes major domestic and international financial institutions, alongside investment and corporate clients.

The firm also maintains an active project development practice, with particular experience in renewable energy. The team advises on the financing, development and commercial aspects of projects, supporting clients on complex matters that require an understanding of both project structures and financing considerations.

Clients particularly value the firm's technical banking expertise, thorough analysis and drafting capabilities. Feedback highlights its strength in lender-side mandates and the reliability of its financing documentation, alongside practical and commercially focused advice. Project development feedback similarly recognises the team's renewable energy expertise, commercial awareness and ability to simplify complex project issues.

Key clients

UniCredit Bulbank; UniCredit SpA; EBRD; Santander Bank; International Finance Corporation; US EXIM; AES; Bulgaria Solar; Impetus Capital.

Testimonials

“Exceptional quality of due diligence and financing documentation.” (Banking and finance)

“Highly thorough and reliable analysis.” (Banking and finance)

“Strong technical banking and finance expertise.” (Banking and finance)

“Practical and solution-oriented approach.” (Project development)

“Strong renewable energy expertise and excellent commercial awareness.” (Project development)

“Ability to simplify complex project issues.” (Project development)

CMS Sofia
5 practice areas
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Bulgaria
CERHA HEMPEL Gerginov
4 practice areas
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CERHA HEMPEL's motivated and multilingual Sofia team provides a full range of legal services, including in relation to mergers & acquisitions, corporate, real estate and construction, banking and finance, competition, and employment law. Bulgaria's economy and regulatory framework has developed rapidly since the country joined the European Union in 2007. Our team has helped clients successfully navigate the opportunities and challenges in this growing market. With its sound financial sector and a long-term positive outlook, Bulgaria offers investors attractive prospects in an emerging market within the EU.

Peterka & Partners
5 practice areas
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Bulgaria
Nina Boteva Law Office
3 practice areas
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Bulgaria
Boyanov & Co
5 practice areas
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Established in 1990, Boyanov & Co. (formerly Borislav Boyanov & Co.) has earned wide international and local recognition as the preferred law firm for many transnational businesses expanding their portfolios in Bulgaria. The firm has advised on most of Bulgaria’s landmark transactions. Its client portfolio includes over 3,000 local and international companies, governments, and institutions. Since its establishment, the firm has always been ranked as a market leader for the excellence of its integrated services, drawing on years of experience in international transactions and structures, on in-depth knowledge of local, European, and international law, and on the brilliance of its professionals.

Boyanov & Co. is a founding member of The South East Europe Legal Group (SEE Legal), a unique organisation of the leading national law firms across 12 countries in South-East Europe, aiming to provide a one-stop-shop for the best legal advice in the region.

Schoenherr
5 practice areas
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Bulgaria
Wolf Theiss
5 practice areas
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Bulgaria
Hristov & Partners
3 practice areas
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Bulgaria
Ilieva Voutcheva & Co
4 practice areas
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Bulgaria
Kambourov & Partners
5 practice areas
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Kambourov & Partners is a leading Bulgarian law firm. Since its foundation in 1988, it has been a reference point for corporate and institutional clients and has consistently supported local and international companies in their multijurisdictional transactions, as well as in their routine activity.

The firm is specialised in business law and provides services in a wide range of practice areas including Banking, Finance, Corporate, M&A, Energy, Employment, IP, TMT, Litigation & Arbitration, Real estate, Competition, Restructuring, Insolvency, Tax and more.  

The team possesses deep local insight coupled with solid global outlook and is distinguished by the blend of litigation expertise and legal advisory competence, thus guaranteeing a full-service client experience.

Georgiev Todorov & Co
5 practice areas
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For more than 25 years Georgiev, Todorov & Co. provides corporate law services with a particular emphasis on the financial sector, M&A, restructuring, insolvency, venture capital and secured lending for both large domestic clients and a range of foreign investors.  

Georgiev, Todorov & Co. is the leading Bulgarian law firm in dispute resolution, competition and litigation.

The firm has been involved in a number of complex international projects in the field of energy law, telecommunications, and banking as well as in the largest privatization transactions in Bulgaria.

The tremendous results accomplished by our highly qualified and competent team are what allow Georgiev, Todorov & Co. to be one of the leading law firms in Bulgaria.

Gugushev & Partners
5 practice areas
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Gugushev & Partners Law Office is a full service law firm based in Sofia. Our expertise enables us to advise on highly complex domestic and cross-border transactions in the field of Corporate and M&A, Banking and Finance, Energy, Tax planning, Real estate and Dispute Resolution. We are trusted advisor of banks and other financial institutions, international corporations, major public and private companies and government departments.

Dimitrov Petrov & Co
5 practice areas
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Bulgaria
DTT
3 practice areas
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Bulgaria
Dinova Rusev & Partners
5 practice areas
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Recognised as one of the leading firms in its jurisdiction, Dinova Rusev & Partners offers a results-driven and highly efficient service to some of the world's leading international companies investing in Bulgaria.

Djingov Gouginski Kyutchukov & Velichkov
5 practice areas
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For almost 30 years Djingov, Gouginski, Kyutchukov & Velichkov is one of the best full service law firms in Bulgaria, providing top-tier service and advice to primarily international corporate clients.

We work with a single-minded commitment to one goal: Providing our clients with the most timely, effective, and professional assistance possible.

In doing so, we prioritize a set of core values and principles:

  • Client Focus and Commercial-Mindedness
  • Hard Work and Innovation
  • Teamwork and Communication
  • Ethical Conduct

Our lawyers are leading specialists in their fields, offering advice in Bulgarian, English, German, and French to publicly and privately-owned companies investing in Bulgaria, major international investment and commercial banks, securities firms, institutional investors, venture capital funds, industrial, utilities, service, distribution, and retail companies, hotel corporations, real estate developers, non-profit organizations, and international financial and development institutions. We also advise the Bulgarian Government and EU institutions on transactional, regulatory, and compliance matters.

Dobrev & Lyutskanov
4 practice areas
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Bulgaria
Spasov & Bratanov
5 practice areas
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Spasov&Bratanov is a premier corporate and finance law firm which provides full range of legal services to financial institutions, companies and various investors on predominantly cross-border transactions. The firm has established relationships with leading law firms based in the City of London, on Wall Street, and in other leading financial centres in Europe and East Asia.

Novel Consult
5 practice areas
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We have been on the Bulgarian market for 20 years and counting, and maintain a constantly growing internationally oriented practice.

We are fully devoted to meeting and exceeding clients’ expectations and providing our clients with high-quality services.

Penev
3 practice areas
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Bulgaria
140 results140 results
1
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7
Deal Highlights
58 results58 results
Deal Name Deal Date Firm Name Jurisdiction Deal Type Lawyer Names Client Names Client Role
Bulgarian Energy Holding EAD - Bond Issue
2021-07-01
A&O Shearman
Bulgaria
Bond issue
Bulgarian Energy Holding EAD
Issuer
Bulgarian Energy Holding EAD - Bond Issue
2021-07-01
Djingov Gouginski Kyutchukov & Velichkov
Bulgaria
Bond issue
Citigroup, JP Morgan Chase
Underwriter
Bulgarian Energy Holding EAD - Bond Issue
2021-07-01
Linklaters
Bulgaria
Bond issue
Citigroup, JP Morgan Chase
Underwriter
Bulgarian Energy Holding EAD - Bond Issue
2021-07-01
Adriala
Bulgaria
Bond issue
Bulgarian Energy Holding EAD
Issuer
ThredUp Inc. - M&A
2021-07-26
Goodwin Procter
Bulgaria
M&A
ThredUp Inc.
Buyer
ThredUp Inc. - M&A
2021-07-26
Kinstellar
Bulgaria
M&A
ThredUp Inc.
Buyer
Chaos Software Ltd. - M&A
2022-01-11
Latham & Watkins
Bulgaria
M&A
Haya Aftab, James Leslie, Karl Mah, Oliver Bretton, Oscar Philipson, Robbie McLaren, Samuel Duncan
Chaos Software Ltd.
Target
NN Group NV - M&A
2021-02-11
Stibbe
Bulgaria
M&A
Bjorn van der Klip, Marc Habermehl, Rogier Raas, Suzanne Kroner-Rosmalen
NN Group NV
Seller
Raiffeisen Bank International AG - M&A
2021-11-17
Wolf Theiss
Bulgaria
M&A
Andrea Gritsch, Claus Schneider, Katerina Kraeva, Richard Clegg, Zeno Grabmayr
Raiffeisen Bank International AG
Seller
Infinity Capital AD - Financing
2022-02-26
Penkov Markov & Partners
Bulgaria
Financing
Ivan Markov, Atanas Valov
Infinity Capital AD
Project developer
Silicon Valley Bank - Financing
2022-02-26
Penkov Markov & Partners
Bulgaria
Financing
Nikolay Cvetanov, Roman Stoyanov
Silicon Valley Bank
Lender
Zenith Crop Sciences SA Liechtenstein - M&A
Kinkin & Partners
Bulgaria
M&A
Vladimir Kinkin
Zenith Crop Sciences SA Liechtenstein
Target
Three Seas Initiative Investment Fund SA - M&A
2021-05-01
Boyanov & Co
Bulgaria
M&A
Alexander Chatalbashev
Three Seas Initiative Investment Fund SA
Acquirer
Agria Group Holding JSC - M&A
Kinkin & Partners
Bulgaria
M&A
Vladimir Kinkin
Agria Group Holding JSC
Acquirer
Zenith Crop Sciences Europe srl - M&A
Kinkin & Partners
Bulgaria
M&A
Vladimir Kinkin
Zenith Crop Sciences Europe srl
Acquirer
BULAVTO LADA Ltd - Restructuring
Kinkin & Partners
Bulgaria
Restructuring
Vladimir Kinkin
BULAVTO LADA Ltd
Shareholder
Ergana Films - M&A
Eversheds Sutherland Bulgaria
Bulgaria
M&A
Irina Tsvetkova
Ergana Films
Acquirer
Kone EOOD - M&A
Eversheds Sutherland Bulgaria
Bulgaria
M&A
Irina Tsvetkova
Kone EOOD
Acquirer
Trinity Investment Ltd - M&A
Kinkin & Partners
Bulgaria
M&A
Vladimir Kinkin
Trinity Investment Ltd
Investor
Mercuria - M&A
2021-10-12
Eversheds Sutherland Bulgaria
Bulgaria
M&A
Nikolay Bebov
Mercuria
Investor
1
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3
By Firm
16 results16 results
Firm Name Jurisdiction Total Deals Deals (Last 12 Months)
A&O Shearman
2
0
Adriala
1
0
Boyanov & Co
Bulgaria
12
0
CERHA HEMPEL
7
0
Cooley
1
0
Djingov Gouginski Kyutchukov & Velichkov
Bulgaria
1
0
Eversheds Sutherland Bulgaria
Bulgaria
5
0
Goodwin Procter
1
0
Kinkin & Partners
Bulgaria
20
0
Kinstellar
Bulgaria
1
0
Latham & Watkins
1
0
Linklaters
1
0
Penkov Markov & Partners
Bulgaria
2
0
Pillsbury Winthrop Shaw Pittman
1
0
Stibbe
1
0
Wolf Theiss
Bulgaria
1
0
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