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This content is provided by Penkov, Markov & Partners.

Chairman and Senior Partner: Vladimir Penkov
Managing Partner: Nikolay Cvetanov
Number of partners: 6
Number of lawyers: 30
Languages: Bulgarian, English, German, French, Russian

Firm Overview:
Established in 1990 Penkov, Markov & Partners is one of the first law firms in Bulgaria having nowadays the biggest and most significant client portfolios and being respected both domestically and internationally. The firm currently has approximately 40 partners and associated members, several external legal consultants, 12 trainees, 12 assistants and staff members. The firm publishes its own newspaper PMP Legal News, circulation 2200 (published in Bulgarian, English and German languages) which is also available on its website. PM&P is a member of Lex Mundi and FLI Net and is the first law firm in Bulgaria certified under the ISO 9001:2000 and later recertified under ISO 9001:2008 and ISO 9001:2015 standards by Bureau Veritas Certification. In 2019 PM&P was awarded Superbrand of the year award for a fourth time (2007, 2015, 2017) as recognition for exceptional reputation of the trademark Penkov, Markov & Partners among its current and potential clients, partners and investors.

Main Areas of Practice:

Banking & Finance:
3 partners, 7 fee earners
■ Representation of KBC Group and its local affiliate United Bulgarian Bank in various matters Partners: Ivan Markov, Nikolay Cvetanov
■ Representation of micro-credit companies (Finances Center and Tamga Invest - Bulgarian subsidiary) in procedures before the Bulgarian National Bank for registration as financial institutions. Partner: Nikolay Cvetanov
■ Acting as central contact point of MoneyGram International SPRL for Bulgaria, regularly advising the payment institution on various matters in the banking and finance sphere (PSD2 related issues, currency exchange, payment limitations, remote provision of services rules, etc.), as well as AML/CFT regulations. Partner: Nikolay Cvetanov
Key clients: KBC Group, Finances Center, Tamga Invest, MoneyGram International SPRL
Contact: Mr. Vladimir Penkov / Mr. Ivan Markov / Mr. Nikolay Cvetanov
Tel: + 3592 971 39 35
Email: [email protected] / [email protected] / [email protected]

Anti-Money Laundering, Terrorist Financing, Fraud Prevention:
2 partners, 4 fee earners
■ Structuring of AML/CFT policies, procedures and internal rules of more than 50 companies (some of them leading Bulgarian financial institutions, wholesalers, pharma companies, contracting entities in the public procurement field, leasing undertakings, etc.) obliged under the new Bulgarian AML Act. Partners: Nikolay Cvetanov, Roman Stoyanov
■ Provision of legal advice and assistance to more than 100 companies with regard to statutory UBO identification and registration. Partners: Nikolay Cvetanov, Roman Stoyanov
■ Development of leading practice on the Bulgarian market as regards conduct of statutory AML/CFT trainings to directors, employees and staff of various categories obliged entities under the AML Act. Partners: Nikolay Cvetanov, Roman Stoyanov
Key clients: Zagorka (part of Heineken Group), Doverie (the largest Bulgarian pension fund part of Vienna Insurance Group), 4finance (part of Finstar Group), MoneyGram International SPRL, Karelia Bulgaria (part of Karelia Group), UBER, Bulgartransgas (the largest combined gas operator in Bulgaria), IKEA, , Stihl (part of Stihl Group), , Berlin Chemie, MVB Truck and Bus Bulgaria (the exclusive MAN distributor for Bulgaria).
Contact: Mr. Nikolay Cvetanov
Tel: + 3592 971 39 35
Email: [email protected]

Commercial, Company & M&A:
1 partner, 7 fee earners
■ Representation of Colibra (the winner of the 2019 Startup World Cup – Bulgaria competition) in the acquisition of 25 % of the company from one of the largest Bulgarian business/investment groups, structuring of the transaction, attracting financing.
Partner: Nikolay Cvetanov
■ Partial restructuring of Teletek Group – acquisition of 100 % of the capital of Siltek Engineering by Polistar Group, including arrangement of related external relations – public procurement obligations, bank financing, etc.
Partner: Nikolay Cvetanov
■ Representation of Basildon Holding SaRL in the exit from Euroins Insurance Group AD by transfer of its 10.64 % stake on stages to the majority shareholder Eurohold AD.
Partners: Atanas Valov, Milena Gaidarska
■ Representation of Bul Dom OOD in the post-closing period of the EUR 253,000,000 transaction regarding the shares in Bulfeld EOOD, owner of Paradise Shopping Mall in Sofia, Bulgaria.
Partner: Milena Gaidarska
■ Representation of Integrated Food SaRL in the acquisition of Peltina EOOD, an owner of fast-developing canning factory.
Partner: Milena Gaidarska
■ Representation of ČEZ a.s. – sale of the local Bulgarian assets of the Company, providing full scale of legal services in connection with this international transaction.
Partner: Ivan Markov
Key clients: Colibra, Teletek Group, ČEZ a.s., Integrated Food SaRL, Basildon Holding SaRL, Bul Dom OOD
Contact: Mr. Nikolay Cvetanov
Tel: + 3592 971 39 35
Email: [email protected]

Competition, Antitrust & Consumer Protection:
1 partner, 5 fee earners
■ Provision of legal assistance and support to ČEZ a.s. and EMCO Ltd., one of the leading players in the special (military) production market within the overall merger control procedures before the Competition Protection Commission related to a transaction for sale of the local Bulgarian assets of ČEZ a.s., respectively a transaction for acquisition of sole control over another leading participant on the same market , including in-depth investigation part thereof and further representation before the competent Bulgarian administrative courts for challenging the Commission’s bans on concentration.
Partner: Ivan Markov
■ Representation before the Competition Protection Commission of two of the participants in the alleged cartel on the markets for the preparation of audits to determine the technical characteristics and technical passports of buildings and the preparation of audits for the energy performance of buildings and the prescription of the necessary energy-saving measures, by manipulating a procurement procedure under the National Program for the Energy Efficiency of Multifamily Residential buildings.
Partner: Ivan Markov
■ Provision of a tailor-made legal advices on Bulgarian competition and consumers’ protection aspects and effects of the contemplated change of the price policy of a commercial and marketing practice of a European chain of discount shops and, respectively the commercial and marketing practice a leading participant on the market of fast-moving goods.
Partner: Ivan Markov
Key clients: ČEZ a.s., EMKO Ltd., Uber
Contact: Vladimir Penkov
Tel: + 3592 971 39 35
Email: [email protected]

Energy & RES:
4 partners, 5 fee earners
■ Representation of CEZ a.s. in the transaction of electricity distribution company and electricity grid operating company, the biggest electricity trading companies operating in both free and regulated markets, few electricity production plants, including from renewable energy and electricity software servicing company.
Partner: Ivan Markov
■ Representation of Mondi Stambolijski EAD in connection with implementation of a project for commissioning of a cable line (110-6,3 kV) and an electricity substation on the territory of the plant.
Partner: Ivan Markov
■ Representation of Mondi Stambolijski EAD, Zlatna Panega Cement EAD, etc. in obtaining state funding in connection with their financial burden as large investors and producers within the territory of the country.
Partners: Ivan Markov, Roman Stoyanov
Key clients: ČEZ a.s., Mondi Stambolijski EAD, Zlatna Panega Cement EAD, Minstroy Group, EMR Kaolinovo EOOD
Contact: Nikolay Cvetanov
Tel: + 3592 971 39 35
Email: [email protected]

Real Estate:
2 partners, 6 fee earners
■ Representation of Arteks Engineering AD and Artkes Zlaten Vek OOD in the development of a number of luxury residential projects in Sofia with a total market value of the projects of above EUR 250,000,000.
Partners: Milena Gaidarska, Atanas Valov
■ Representation of Kambana Bourgas AD in sale of a regulated plot needed for the project on extension of Galleria Mall, Burgas.
Partner: Milena Gaidarska
■ Representation of Siko Service EOOD on the negotiations for a long-term lease of logistics facility with EdgeConnex.
Partner: Milena Gaidarska
■ Representation of Nedvizjimi Imoti SIPJV in a deal for the sale of plot in Sofia designated for expansion of the Kaufland chain and the associated procedures before court for disputing of the regulation plan.
Partners: Milena Gaidarska, Atanas Valov
■ Representation of Kontrol Engineering AD with respect to the negotiations and entering into Hotel Management Agreement with ACCOR Group.
Partner: Milena Gaidarska;
Key clients: Arteks Engineering AD, Artstroy Group, Siko Service EOOD, Bul Dom OOD, Nedvizjimi Imoti SIPJV, B & B Hotels
Contact: Milena Gaidarska
Tel: +3592 971 39 35
Email: [email protected]