DGKV advised the Bulgarian aspects of the acquisition of certain assets and renewal rights of American International Group, Inc.’s business in many jurisdictions, including Bulgaria. The total transaction value is approximately USD 240 million and includes AIG’s insurance operations in Argentina, Chile, Colombia, Uruguay, Venezuela, Turkey, the Czech Republic, Hungary, Poland and Slovakia as well. DGKV’s services included advice on the Bulgarian aspects of the deal, inter alia legal due diligence, structuring advice, regulatory, compliance and transactional work. The deal was closed for Bulgaria on 31st May 2017 when it got regulatory nod from the Commission for Protection of Competition. The European Commission had approved the acquisition of the insurance business of the AIG in Bulgaria and Romania in February.
The law firm’s M&A team on the project was led by Partner Zdravka Ugrinova. She was assisted by Senior Associate Valentin Bojilov and Associates Rusalena Angelova and Nikola Minchev.