Spasov and Bratanov, working with Clifford Chance, has advised the International Finance Corporation and Raiffeisenbank International on the EUR 90 million financing for R Engineering to construct a solar power park. CMS advised R Engineering.

Attorney at Law Tsvetina Stefanova-Boyadzhieva has been promoted to Partner at Gugushev & Partners.

Tsvetkova Bebov & Partners, member of Eversheds Sutherland, has advised Allianz Bank Bulgaria on its issuance of EUR 50 million MREL notes due December 2028.

CMS has advised Toshiba International on a repair and rehabilitation agreement with the Bulgarian state-owned National Electricity Company for the pumping storage hydro power plant Chaira Unit 1.

Gessel and Kambourov & Partners have advised MS Galleon on its acquisition of Corab. TGS Baltic reportedly advised MS Galleon as well.

Many M&A practitioners are optimistic and predict a better year, higher deal values and volumes.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. As sunny days recede, the fall conference season is upon us, so we asked: How do you determine which Partner attends which events?

Navigating the challenges of Bulgaria’s legal and regulatory environment requires a careful balance, particularly in light of ongoing political instability, according to Karushkov Legal Solutions Founder Mitko Karushkov who takes aim at systemic issues affecting legislative processes, judicial stability, and regulatory reliability, while highlighting the importance of proactive risk management and the potential for growth amidst uncertainty.

On December 6, 2024, Kinstellar announced that UEG's acquisition of the 250-megawatt Simeonovgrad-Polyanovo PV project (as reported by CEE Legal Matters on April 10, 2024) has now closed.

The European Union’s Network and Information Systems Directive (NIS2) was introduced to enhance cybersecurity across the EU, aiming to protect critical infrastructure and essential services such as energy, transportation, and healthcare. NIS2 sets a high bar for all EU Member States, requiring them to improve their cybersecurity resilience, implement strong risk management practices, and report incidents within strict timelines. Yet, despite these clear guidelines, Bulgaria, like many other EU countries, has been slow to adopt the necessary changes and was unable to meet the deadline for transposing NIS2 (i.e., the 17^th of October this year). The delay has left Bulgaria facing several legal and operational challenges, compounded by the absence of a functioning Parliament.

Clifford Chance and Spasov & Bratanov have advised a consortium of lenders including Santander Bank Polska and the EBRD on a PLN 300 million financing granted by Santander Bank Polska to Benefit Systems. Norton Rose Fulbright reportedly advised Benefit Systems.

On November 14, 2024, banking and finance experts from Albania, Austria, Bosnia and Herzegovina, Bulgaria, North Macedonia, and Poland sat down for a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss digitalization and the impact of tech on the banking sector in CEE.

On 7 November 2024, Boyanov & Co. with the support of the European Investment Bank organised the international conference “Life-Cycle Challenges of the Start-Ups”. The event focused on navigating the landscape of the Bulgarian start-up ecosystem through its major challenges in 2025; government programs, grants, and EU funds for financing start-ups in 2025; and broadening horizons for international expansion of the CEE start-ups and venture capital funds. With this conference, Boyanov & Co. reaffirmed its commitment to supporting the start-up ecosystem in Bulgaria.

In today's digital age, social media has become a ubiquitous presence in our personal and professional lives. For employers, these platforms offer a valuable yet complex tool in the hiring process. While the potential to gather additional insights about job candidates is enticing, it also raises significant legal questions regarding privacy and data protection.

Kinstellar has advised Eleven Ventures on an investment in Cloud Office.

As Schonherr Head of Intellectual Property and Dispute Resolution practices in Bulgaria Ventsislav Tomov explains, Bulgaria’s delicate political situation and unreliable judicial system are creating a challenging environment for both local and international businesses. Amid these uncertainties, internal corporate investigations are on the rise, driven by cultural clashes between Western investors and Bulgarian management as well as growing concerns over compliance and governance.

CMS has advised the Czech Skoda Group on winning a second order from Bulgaria's Ministry of Transportation for five four-car electric trains.