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Key contacts
Managing Partner: Georgi Spasov
Partner (Finance): Vassil Hadjov
Quick facts
Lawyers

20 full-time

Memberships

Adriala Network

Key practice areas
Banking and finance
Financial and corporate
M&A
Energy and infrastructure
Project development
Firm overview

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.

Client feedback

"Quality and delivery would be fit for any City of London law firm."

Key transactional practices
  • Banking
  • Capital markets
  • Competition/Antitrust
  • Financial services regulatory
  • M&A
  • PPP
  • Private equity
  • Project development
  • Project finance
  • Real estate 
  • Restructuring/insolvency
  • Structured finance/securitisation
Key practice contacts and recent transactional highlights

Mergers & Acquisitions:
Georgi Spasov, Managing Partner
Georgi.Spasov@sbn-law.com

Boyko Bratanov, Partner
boyko.bratanov@sbn-law.com

Recent transactional highlights:

  • Advising  MTG Modern Times Group on the disposal of its Bulgarian business;
  • Advising  Akuo Energy International on its acquisition of EDF Energies Nouvelles’ Bulgarian hydropower generation business 
  • Advising Inercom on the attempted acquisition of CEZ’ Bulgarian business 

Banking & Finance:
Vassil Hadjov, Partner
Vassil.Hadjov@sbn-law.com

Nadia Hadjova, Counsel
Nadia.Hadjova@sbn-law.com

  • Advising a Citigroup-led bank syndicate on EUR 500M term loan secured financing for BTC and subsequent financings
  • Advising KBC Bank, BNP Paribas Fortis, Cooperatieve Rabobank and ING Belgium on EUR 131M multi-currency term loan secured financing for Aliphos Bulgaria/Technophos
  • Advising HSBC and  Bank of China Macau Branch on their USD 80M term loan secured financing for the Hong Kong parent group of ISB;
  • Advising European Investment Bank on EUR 100M secured term loan financing

Competition/Antitrust:
Georgi Spasov
Georgi.Spasov@sbn-law.com
Kremena Yaneva, Senior Associate
Kremena.Yaneva@sbn-law.com

  • Defending Nova Broadcasting Group and affiliates against alleged abuse of dominant/stronger bargaining position 
  • Defended the Bulgarian subsidiaries of CEZ in various antitrust proceedings 
  • Representing Inercom in merger clearance towards proposed acquisition of CEZ’ Bulgarian business 

Project Development:

Vassil Hadjov, Partner
vassil.hadjov@sbn-law.om

Petar Dyankov, Senior Associate
petar.dyankov@sbn-law.com

 

  • Representing the consortium AdP/TAV in Sofia Airport Concession Tender
  • Advising greenfield investment in the heavy industry sector 
  • Advising South Stream Bulgaria (Gazprom subsidiary) on its’s assets disposal to BulgarTransGaz
Address:
Slavyanska Office Centre
29A Slavyanska Str., Floors 2/3
Sofia 1000
Tel:+359 2 980 1808 Fax:+359 2 980 2510 Email:Contact Us Web Address:http://www.sbn-law.com
2026 Edition
Banking and finance
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Tier 2

Kambourov & Partners
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Spasov & Bratanov
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Tier 3

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Tier 4

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Tier 5

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Ilieva Voutcheva & Co
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Kinkin & Partners
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Sabev & Partners
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M&A
28 firms ranked
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Tier 1

Boyanov & Co
5 practice areas
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CMS Sofia
5 practice areas
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Djingov Gouginski Kyutchukov & Velichkov
5 practice areas
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Kambourov & Partners
5 practice areas
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Kinstellar
4 practice areas
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Schoenherr
5 practice areas
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Tier 2

Dimitrov Petrov & Co
5 practice areas
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Penkov Markov & Partners
5 practice areas
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Wolf Theiss
5 practice areas
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Tier 3

CERHA HEMPEL Gerginov
4 practice areas
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Deloitte Legal Law Firm
4 practice areas
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Eversheds Sutherland Bulgaria
5 practice areas
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Hristov & Partners
3 practice areas
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Tier 4

Arsov Natchev Ganeva
5 practice areas
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Dinova Rusev & Partners
5 practice areas
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Gugushev & Partners
5 practice areas
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Ilieva Voutcheva & Co
4 practice areas
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Komarevski, Dimitrov and Partners
4 practice areas
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Spasov & Bratanov
5 practice areas
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Tier 5

Act legal Bulgaria
4 practice areas
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Dobrev & Lyutskanov
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Georgiev Todorov & Co
5 practice areas
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Kinkin & Partners
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Nina Boteva Law Office
3 practice areas
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Notable

CasePro
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Eurolex Bulgaria
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Peterka & Partners
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Popov, Arnaudov & Partners
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Project development
21 firms ranked
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Tier 1

Boyanov & Co
5 practice areas
View full profile
CMS Sofia
5 practice areas
View profile
Djingov Gouginski Kyutchukov & Velichkov
5 practice areas
View full profile
Kambourov & Partners
5 practice areas
View profile

Tier 2

Dimitrov Petrov & Co
5 practice areas
View profile
Kinstellar
4 practice areas
View profile
Penkov Markov & Partners
5 practice areas
View profile
Schoenherr
5 practice areas
View profile

Tier 3

Dinova Rusev & Partners
5 practice areas
View profile
Georgiev Todorov & Co
5 practice areas
View profile
Wolf Theiss
5 practice areas
View profile

Tier 4

Act legal Bulgaria
4 practice areas
View profile
Arsov Natchev Ganeva
5 practice areas
View profile
Deloitte Legal Law Firm
4 practice areas
View profile
Gugushev & Partners
5 practice areas
View profile
Kinkin & Partners
5 practice areas
View full profile
Komarevski, Dimitrov and Partners
4 practice areas
View profile
Spasov & Bratanov
5 practice areas
View full profile

Tier 5

Dobrev & Lyutskanov
4 practice areas
View profile
Ilieva Voutcheva & Co
4 practice areas
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Notable

Popov, Arnaudov & Partners
5 practice areas
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Linked Reviews
Financial and corporate
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)

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Deal Highlights
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