Dimitrov, Petrov & Co. has assisted with the spin-off of CETIN Bulgaria from PPF Telenor.
The spin-off was part of a larger corporate restructuring of PPF Telecom Group’s telecom business in South East Europe (initially reported by CEE Legal Matters on July 10, 2020).
According to Dimitrov, Petrov & Co., the result was "probably the biggest spin-off in Bulgaria in the last few years," and the firm's work "included structuring a new entity — the tower company CETIN Bulgaria (which has become the owner of the entire infrastructure of Telenor Bulgaria) — and transferring the ownership of the network, including a portfolio of several thousand owned or leased sites, towers and other properties together with all backbone telecom and energy infrastructure."
According to DPC, the firm's lawyers "advised [on] the transferring of a permission for use of spectrum, through a complex procedure that had never been applied before in Bulgaria, as well as the structuring of the relationship between Telenor and CETIN going forward."
The DPC team was led by Partner Hristo Nihrizov.