Borislav Boyanov & Co successfully advised the chain store Lidl on all Bulgarian aspects of taking over the competitor Plus on 19 February 2010. In cooperation with Noerr Stiefenhofer Lutz, Borislav Boyanov & Co. supported Lidl on the acquisition of the shares in various companies resulting in acquiring all Bulgarian branches of Plus from the seller Tengelmann Group. The Borislav Boyanov & Co. team was led by partners Raina Dimitrova and Yordan Naydenov, senior associate Violeta Kirova and associates Nikolay Kolev, Martina Gyosheva and Mihail Vishanin (company law) as well as partner Nickolay Nickolov and associates Svetlana Tsvetkova, Iva Miteva and Georgitza Petkova (real estate law). With this transaction, the Lidl network in Bulgaria increases by 20 shops in addition to warehouses and administration. The approval of the European Commission must still be obtained.
Archive for February, 2010
Citigroup Global Markets Limited has won a tender to advise the Privatization Agency of the Republic of Bulgaria on the privatization of Bulgartabac Holding AD (the state-owned tobacco company of Bulgaria). Borislav Boyanov & Co. is a member of Citigroup’s team and will advise on all legal matters of the privatization.
This article (in Bulgarian), published in the Dnevnik daily newspaper, focuses on qualification of land transactions, performed between private entities and the State at an undervalue – as a state aid under EU state aid rules, and the implications of this for the treatment of these transactions and their beneficiaries in Bulgaria.
The article joins the public debate spurred by the discovery of a large number of such transactions done in the last decade, and the European Commission’s proceedings initiated in that respect.
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