Deals & Cases

Borislav Boyanov & Co. Advises CVCI on Equity Investment in the Veterinary Pharmaceutical Sector


Citi Venture Capital International (CVCI) (an emerging markets private equity investor, and a subsidiary of alternative asset management platform Citi Capital Advisors, an arm of global investment bank Citigroup), signed a contract to acquire a significant minority stake in the Bulgarian animal health company Huvepharma.

Borislav Boyanov & Co. acted as Bulgarian law counsel to CVCI on the transaction, including conducting a legal due diligence of Huvepharma and its subsidiaries and advising on Bulgarian law matters relative to the transaction.

Huvepharma is a manufacturer of pharmaceuticals for the livestock market, specialising in the poultry, swine and cattle segments. It also produces nutritional feed additives and niche veterinary products. 65% of Huvepharma’s produce is exported to the EU and North America. Huvepharma is the majority shareholder of Biovet Peshtera, a leading European manufacturer and marketer of medicated and nutritional feed additives, enzymes, bulk active substances and pharmaceuticals for animal productivity and health.