Borislav Boyanov & Co., jointly with KWR’s Vienna office, is currently advising Petromaxx Energy Group on the financing of the construction of the Petromaxx petroleum refinery near the town of Silistra, north-eastern Bulgaria. This is a green-field project having an estimated worth in excess of USD 170 million.
Archive for December, 2006
On December 14, 2006 the acquisition of a majority shareholding of DZI Bank AD by EFG Eurobank Ergasias group was successfully completed. Borislav Boyanov & Co. advised jointly with Morgan Stanley as international business advisers, and Bulbrokers as local business advisers, the sellers with regard to the overall negotiation process and internal legal due diligence. The firm also acted for both the seller and the buyer in connection with the issuing of a concentration clearance for the transaction. The value of the transaction exceeds €157 million, and involves both a straightforward sale of shares and an equities exchange.
The firm acted for Emmis International Broadcasting Corporation, USA (“Emmis”), on an innovative acquisition and financing of Bulgarian radio operator Pleven Plus AD (“Radio Fresh”). The U.S. media company Emmis Communication Corporation owns radio stations in some of the largest cities in the USA, such as Los Angelis, New York and Chicago, and is ranked in the top ten US radio stations groups. The company owns also radio stations in Europe. Radio Fresh is the biggest in territorial coverage and licensed private radio network in Bulgaria. It plays today’s hits and has as target audience people aged 15-30. Its 24-hours program is broadcast in 20 major cities all over Bulgaria covering 64% of Bulgaria’s population, which means 4,5 million people.