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D’Ornano Partners Advises Groupama Group on Acquisition of Express Life Bulgaria

D’Ornano Partners has advised the Groupama Group on its acquisition of Express Life Bulgaria IJSC, a member of the OTP Group. Schoenherr advised the OTP Group on the deal.

Kambourov & Partners and Wolf Theiss Advise on DS Smith's Sale of Packaging Business to Liquibox

Kambourov & Partners has advised DS Smith on Bulgarian aspects of the sale of it plastic packaging business to Liquibox. Wolf Theiss reportedly advised Liquidbox on the deal.

Worried about COVID-19? During the outbreak, it is challenging for patients to seek in-person medical care. Self-quarantine is an important tool in managing disease transmission, especially among patients who are vulnerable to the risk of infection. This is where telemedicine becomes essential to ensure that patients have access to medical care and to boost community support. In times of a global public health emergency like the COVID-19 outbreak, healthcare systems should lean on remote medical check-ups, e-prescriptions and postal delivery of medicines in situations of quarantine and to tackle the further spread of the disease. Healthcare systems should expand beyond traditional healthcare tools and leverage existing telehealth tools to direct people to the proper level of healthcare for their medical needs (both to address their medical condition and to screen for COVID-19). Moreover, state administrations should make a historic effort to at least temporarily lift restrictions on telehealth usage (where such exist) to assist in the efforts to reduce patients' exposure to the virus and to ensure public health and safety.

Kinstellar Advises EBRD on First Financing in Bulgaria Under ESIF/EBRD Water Sector Financing Framework

Kinstellar has advised the EBRD on its first loan under the EUR 200 million Bulgarian Water Sector Financing Framework to Ruse Water Supply and Sanitation Company.

The Buzz in Bulgaria: Interview with Kostadin Sirleshtov of CMS

“The third year a Government is in power is when it usually feels the most confident to work on reforms,” says Kostadin Sirleshtov, Managing Partner at CMS in Sofia.” At the moment the Bulgarian Government is stable and active in various sectors, considering the very small possibility of a new election this year.”

The automobile part-and-component-production sector’s expansion in recent years has become a motor of the Bulgarian industry and economy. Since the Japanese company Yazaki’s investment some 15 years ago, and following Bulgaria’s EU accession in 2007 – and thanks to the common European market and the globalization of car production – Bulgarian car part manufacturers have successfully integrated into European and international supply chains as suppliers and subcontractors for global brands such as BMW, Mercedes, Renault, Nissan, Audi, Ford, Porsche, and Tesla. Nowadays, 80% of all cars have parts produced in Bulgaria. In some specific segments, Bulgarian manufacturers have become absolute market leaders - for example, 90% of the airbag sensors in all European cars are produced in Bulgaria.

Bulgaria is well-known for its roses, more precisely its oilseed roses (маслодайни рози). Oilseed roses are famously used to produce rose oil, which is one of the most expensive oils, commonly referred to as "liquid gold". Rose oil is used in the perfume industry, but the Bulgarian oilseed rose also has many other applications. The petals are used in jams, jellies, sweets and liqueurs. Products derived from processing the blossoms are used in cooking as flavouring, flavour enhancers and colouring agents. In addition to the oil, processing the oilseed rose blossom also produces rose water, which is used both in the perfumery and food industries.

Under Bulgarian anti-money laundering law, all obliged entities must adapt their internal rules in accordance with Article 101 of the Bulgarian Anti-Money Laundering Act ("AMLA") within six months following the publication of a national assessment of the risks related to money laundering and terrorism financing ("National Risk Assessment") on the website of the State Agency for National Security ("SANS").

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.

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