The sweeping digital transformation has significantly changed the economic and financial landscape, and at the heart of this change is the emerging phenomenon of cryptocurrencies. With this innovative fusion of finance and technology, the pertinent question of how to tax these new assets arises. Bulgaria, like its global counterparts, is grappling with the complexities of this issue. Dive in for an in-depth look at Bulgaria’s approach to taxing crypto assets.
Crido Advises Borgestad ASA on Refinancing for Agora Bytom Shopping Center
Crido has advised Borgestad ASA on refinancing the credit for the Agora Bytom shopping center with Bank Pekao. CMS reportedly advised the bank.
Did You Know: 2023 International and Domestic Law Firm Leaderboards
It was another strong year for the leading law firms in Central and Eastern Europe, which, combined, worked on over a thousand deals and other client matters across the region reported on by CEE Legal Matters this year. According to the Activity Rankings function of the CEELMDirect website, Clifford Chance, which worked on an impressive 95 CEELM-reported CEE client matters in 2023, led the international firms in the region, with Schoenherr, which worked on 90, close behind. Dentons (82), CMS (71), Wolf Theiss (65), Cobalt (66), Kinstellar (50), White & Case (45), and Allen & Overy (42) took notable places on the leaderboard as well.
CMS Advises Touzimsky Airlines on Sale of Stake in Kiwi.com
CMS has advised Touzimsky Airlines on the sale of its shareholding in Kiwi.com to General Atlantic. Weil Gotshal & Manges reportedly advised General Atlantic.
White & Case and Havel & Partners Advise on CVC and Emma Capital's Acquisition of Packeta Group from JSK
White & Case has advised CVC Capital Partners on its acquisition of the Packeta Group, alongside co-investor Emma Capital. Havel & Partners advised JSK Investments and its shareholders, Simona and Jaromir Kijonka, on the sale of Packeta.
CMS Advises Rezolv Energy on Licensing 229-Megawatt PV Project in Bulgaria
CMS has advised Rezolv Energy on the licensing of its 229-megawatt St. George photovoltaic project before the Bulgarian Energy and Water Regulatory Commission.
CMS and Ivkovic & Kruc Advise on Global Offshore Engineering Group Acquisition of Adria Winch
CMS Bardek Lisac Musec Skoko and Partners has advised Global Offshore Engineering Group owner Matko Zuanic on the full acquisition of Adria Winch, including the indirect acquisition of Dalstroj. Ivkovic & Kruc advised Adria Winch Group shareholders Marin Srzentic, Milivoj Peruzovic, and Ivo Jercic on the sale.
CEELM10 Interview: A Decade of Energy in Bulgaria
CMS Bulgaria Managing Partner Kostadin Sirleshtov talks about the evolution of the energy sector and their role as legal advisors in Bulgaria over the last 10 years.
CEE M&A Outlook: Steady As She Goes
With CMS’s recently published European M&A Outlook report taking the temperature of the M&A activity across the continent, CMS Romania Managing Partner Horea Popescu and CMS Vienna Partner Alexander Rakosi share their insights on M&A trends in the CEE region.
The Corner Office: Balancing the Books – Overdue Bills and Unpaid Invoices
In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. Shifting our focus to the financial aspects of legal work, we asked: What percentage of your issued bills end up being overdue, what percentage end up never paid, and what is your firm’s/office’s standard methodology to handle both cases?
Dentons and CMS Advise on Modus Asset Management's EUR 58 Million Financing for 93-Megawatt PV Portfolio
Dentons has advised Modus Asset Management on obtaining EUR 58 million in debt financing from BNP Paribas Bank Polska and PKO Bank Polski to finance and refinance the acquisition of a 93-megawatt portfolio of photovoltaic projects in Poland. CMS advised BNP Paribas Bank Polska and PKO Bank Polski.
Dentons and CMS Advise on Heimstaden Poland Refinancing Two Residential Complexes in Warsaw
Dentons has advised Heimstaden on the refinancing of the acquisition of two residential complexes in Warsaw – Heimstaden Bokserska and Heimstaden Grzybowska – via a EUR 47.2 million loan from Santander Bank Polska. CMS advised Santander Bank.
CMS Advises ING-led Syndicate on Restructuring Repayment Terms for Kernel PXF
CMS has advised a syndicate of banks led by ING Bank on the adjustment to the loan repayment terms under the USD 450 million pre-export facility for Ukraine’s Kernel Group. Allen & Overy reportedly advised Natixis, one of Kernel Group's creditors. White & Case reportedly advised the Kernel Group.
PeliPartners and CMS Advise on Mitiska REIM Sale of 25 Retail Parks in Romania to LCP Group
PeliPartners has advised Mitiska REIM on the sale of 25 retail parks in Romania to the LCP Group, part of M Core Property, for EUR 219 million. CMS advised M Core Property.
Vlasceanu & Partners and Wolf Theiss Advise on Raiffeisen EUR 60 Million Financing for Ratesti Solar Plant
Vlasceanu & Partners and Wolf Theiss have advised the Ratesti Solar Plant – an Econergy group and Nofar group subsidiary – on the EUR 60 million financing from Raiffeisen Bank International and Raiffeisen Bank Romania to finance part of its EUR 102 million 155-megawatt solar project in Ratesti, Romania. CMS reportedly advised Raiffeisen Bank.
Schoenherr Advises Borealis on Acquisition of Integra Plastics
Schoenherr has advised Borealis AG on the agreement to purchase Bulgarian polyethylene and polypropylene recycler Integra Plastics. Boyanov & Co and CMS reportedly advised on the deal as well.
CMS Advises on Astronergy’s Acquisition of Two Solar Projects in Bulgaria
CMS has advised Astronergy on the acquisition of the Karlovo and Novi Pazar greenfield solar projects in Bulgaria, with a combined capacity of 120 megawatts. Schoenherr reportedly advised the sellers.
Redcliffe Partners and Avellum Advise on USD 480 Million Loan to MHP
Redcliffe Partners has advised the IFC, EBRD, and DFC on their USD 480 million loan to Ukrainian poultry and grain producer MHP. Avellum advised MHP. CMS and Harneys reportedly advised the DFC and EBRD, with Harneys and Baker Botts reportedly advising the IFC.