Skip to content
Europe 2022
Bulgaria Corporate/Commercial
Band 1

2 Ranked Lawyers


Provided by Djingov, Gouginski, Kyutchukov & Velichkov

    • Our experience spans for more than 28 years of advising major domestic and international clients of the law firm in some of the largest M&As and privatizations to ever originate on the Bulgarian market and on the most significant global transactions with Bulgarian law aspects;
    • DGKV’s has the largest corporate and M&A team on the Bulgarian legal market with highly qualified and experienced local lawyers. We have 12 partners, 8 senior associates and 8 associates who spent considerable amount of efforts and time on corporate, commercial and M&A matters;
    • DGKV’s team has a superb reputation for advising on local and cross-border M&A transactions in Bulgaria with an impressive track record in the outsourcing, IT, banking, energy, TMT, pharma, and real estate sector;
    • What sets us apart:
      • ability to handle large scale transactions requiring simultaneous multidisciplinary approach;
      • unique for the Bulgarian legal market combination of sector-specific in-depth knowledge and tailor-made legal services;
      • strong local expertise and deep understanding of the Bulgarian legal environment and international business transactions;
      • supreme quality of legal service, thoroughness, and uncompromising attention to detail;
      • uniquely experienced in providing highly sophisticated and creative structuring solutions in complex transactions.

Chambers Review

Provided by Chambers
Corporate/Commercial - Bulgaria
Band 1
What the team is known for

Djingov, Gouginski, Kyutchukov & Velichkov is a market-leading practice admired for acting on large-scale cross-border M&A transactions. The department is supported by top-ranked TMT, real estate and energy teams for transactions in those sectors. The law firm also maintains top rankings in competition and employment, enabling it to advise on the full life-cycle of the transaction. The team boasts an impressive client portfolio made up of blue-chip multinational and domestic companies and is particularly popular with clients from the private equity and manufacturing sectors. It provides additional expertise in cross-border corporate restructuring matters.


A client enthuses that the team is "very good in providing practical advice" and adds that "the work was performed efficiently and communication was timely."

Market commentators underline the depth of DGKV's team, with one reporting that it is a "solid, good, big firm," and adding that the firm is "an institution."

Work highlights

Advised The Walt Disney Company on the Bulgarian aspects of its global acquisition of 21st Century Fox.

Notable practitioners

Zdravka Ugrinova is a market-leading lawyer assisting private equity houses and corporate clients with acquisitions across a variety of sectors, including retail and manufacturing. She also offers notable expertise in incorporating the Bulgarian subsidiaries of multinational companies. A client appreciates that "Zdravka Ugrinova is very hands-on and strict when it comes to deadlines," while another enthuses: "She is knowledgeable and knows where the important points are and focuses on that."

An interviewee describes Stephan Kyutchukov as "one of the deal makers" and adds that he "finds easy solutions." He also regularly assists multinational clients from the technology sector with the sale or acquisition of Bulgarian assets. Additionally, he advises startups on investment rounds.

Ranked Lawyers at
Djingov, Gouginski, Kyutchukov & Velichkov

Provided by Chambers
Filter by



Zdravka Ugrinova
Zdravka Ugrinova
Band 1
Stephan Kyutchukov
Stephan Kyutchukov
Band 3


Provided by Djingov, Gouginski, Kyutchukov & Velichkov

Georgi Gouginski

Ivan Punev

Krassimir Stephanov

Lilia Kisseva

Marius Velichkov

Maya Mircheva

Ralitsa Gougleva

Silviya Apostolova

Valentin Bojilov

Vlada Tsenova

Member photo

Zdravka Ugrinova

Head of Department


Provided by Djingov, Gouginski, Kyutchukov & Velichkov

ABN AMRO Capital



Acibadem Sirketler Grubu


AmRest Sp. z.o.o


ArcelorMittal Limited

Axxess Capital

Bank Austria

British American Tobacco



CallPoint Limited

CallPoint New Europe

Carlsberg Breweries A/S

Central Europe Media Enterprises

China CEFC Energy Company Limited

Chipi Bulgaria


City Hospitals and Clinics Sarl

Cleantech I SE

Coffeeheaven Holdings Limited (part of Costa group)

ContourGlobal L.P.


Deutsche Telecom


Edmond De Rothschild Private Equity Management Ltd.

Enel Green Power


Fairfax Financial Holdings Ltd

Ford Motor Company

GE Commercial Finance

HVB Bank Bulgaria

Hewlett-Packard International Sàrl

Hitachi Solutions

Hungarian Telephone and Cable Corp.



ING Bank N.V.

KBC Bank

KBC Insurance

Konica Minolta Business Solutions


Magyar Telekom Rt

Merck KGaA

Michigan Magnetics Inc.

Mid Europa Partners Limited

Miller Development

Mitsui & Co. Ltd.

Molson Coors Brewing Company

Mundus Services

Novator Partners LLP

OTE International S.A.

Olympia Development

PCCW Limited

Paddy Power, plc

Palfinger GmbH

PepsiCo International

Petrotechnical Data Systems B.V.

PharmaSwiss Bulgaria

Pharmastore pharmacies chain

Pirelli RE&C

ProSiebenSat.1 Media AG

Progress Software

RWE Power AG

Raiffeisen Energy & Environment


Sanoma B.V.

Solar World Aquiris S.A.R.L.

State General Reserve Fund of Oman

Taylor Corporation

TeleTech Holdings, Inc.


Teracom A

The Bulgarian Post Privatization Fund

Third Point LLC

Tymbark Maspex Romania SRL

VMware, Inc.

Verint Systems Inc

Watson Pharmaceuticals, Inc


 Hitachi Solutions


Provided by Djingov, Gouginski, Kyutchukov & Velichkov

Automobiles & Parts


Commercial & Professional Services

Construction & Materials



Financial Services

Food & Drink Producers


Health Care

Industrial Engineering



Pharmaceuticals & Life Sciences

Real Estate


Software & Computer Services

Technology, Hardware & Electronics