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Boyanov & Co Advise Black Sea Property on Acquisition of Grand Hotel Varna

Boyanov & Co Advise Black Sea Property on Acquisition of Grand Hotel Varna

Bulgaria
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Boyanov & Co has advised Black Sea Property on its acquisition of Grand Hotel Varna.

According to Boyanov & Co, “Grand Hotel Varna owns GHV-Dolphins, a Bulgarian company holding the title to real estate comprising of three hotels and a beach marina resort situated in a prime location on the Black Sea Coast." It added that "for financing the acquisition, Black Sea Property PLC has raised an additional EUR 21.1 million through the issue of EUR 10.8 million of loan notes and a placing of 645,000,000 new ordinary shares at a price of EUR 0.016 per share, raising EUR 10.32 million. The total consideration paid for Grand Hotel Varna was EUR 28.05 million.”

The Boyanov & Co team included Partners Yordan Naydenov and Borislav Notovsky.

Boyanov & Co was unable to disclose additional information about the deal.

Bulgaria Knowledge Partner

Schoenherr is a leading full-service law firm providing local and international companies stellar advice that is straight to the point. With 15 offices and 4 country desks Schoenherr has a firm footprint in Central and Eastern Europe. Our lawyers are recognised leaders in their specialised areas and have a track record of getting deals done with a can-do, solution-oriented approach. Quality, flexibility, innovation and practical problem-solving in complex commercial mandates are at the core of our philosophy.

Firm's website: www.schoenherr.eu

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