LIC - Penkov, Markov & Partners

LIC - Penkov, Markov & Partners has offices in Sofia, Bourgas, Rousse, Lovetch, Dobrich, Varna, Pleven, Targovishte, Stara Zagora and Vratza.

LIC - Penkov, Markov & Partners is in cooperation agreements with Lansky, Ganzger & Partner, Vienna, Austria and Niebaum, Kohler, Punge, Söder, Dortmund, Germany and uses offices with its cooperation partners in Vienna and Dortmund.

Since 1999, LIC - Penkov, Markov & Partners has been the exclusive member of Lex Mundi, the world's leading association of independent law firms. Lega Interconsult is also an associated member of Eurojuris Germany.

The firm specialises in providing legal advice in the sphere of commercial, company, civil and tax law with their international aspects.

LIC - Penkov, Markov & Partners has participated in numerous major privatisation procedures in the field of breweries, banking, insurance, railway construction and maintenance, glass industry, food industry and agricultural production, construction, ceramic industry, plastic industry, specialized services, etc. We have consulted Brewinvest for the privatisation of one of the largest Bulgarian breweries, Zagorka, IEG for the privatisation of one of the largest Bulgarian fair and conference organising companies Bulgarreklama, Knauf for the privatisation of the Gipsfazer, Vidin (special cardboard production), Glassinvest for the privatisation of STIND, Sofia (glass production), Trierina Trading Limited for the privatisation of Ipoma, Sofia (plastics) and a large number of other privatisation transactions.

In 1997, LIC - Penkov, Markov & Partners became a member of two international consortia lead by Roland Berger & Partner, Germany and RES & Co., United Kingdom, assigned with ten majour privatisation deals under the PATA project of the PHARE SARA programme.

In 1998, we have participated as well in the two biggest privatisations completed in 1998- the privatisation of Post Bank on behalf of the National Bank of Greece and the privatisation of the Balkans' largest glass production plant Drujba, Plovdiv, on behalf of Bareck Overseas Ltd.

In 1998, LIC - Penkov, Markov & Partners has participated in the biggest for Bulgaria financing project by the EBRD and Baring of the activities of Domaine Boyar (owner of a large number of wineries) acting as legal counsel to Domaine Boyar, as well as in the project for financing of the activities of Celhart AD by EBRD and IFC acting as legal counsels to EBRD. In the last years we have also consulted EBRD as well on the acquisition of United Bulgarian Bank as well and with regard to a financing project for SODI Devnya and the privatisation of the dairy processing plant Serdika (Danone) as well as the Bulgarian Government with regard to financing project for SODI Devnya.

We have also acted on behalf of Titan Cement, Greece in their project for acquisition of one of the biggest cement plants in Bulgaria, Plevenski Cement AD and Zlatna Panega AD.

In 1999, LIC - Penkov, Markov & Partners has acted as a legal advisor on behalf of Telefonica Intercontinental in the privatisation of Bulgarian Telecommunications Company (BTC). In 1999 as well, we have advised and acted on behalf of Oiltanking for the establishment of joint venture with a Bulgarian subsidiary of Union Miniere, which shall operate the independent liquid bulk storage terminal in the Port of Varna-West, Bulgaria. We have also advised TBI Holdings for the acquisition of a stake of Bulgarian insurance company BULSTRAD. We also handled as well the establishment of the Bulgarian subsidiary of Hewlett-Packard. We have also conducted due diligence for 15 enterprises within the holdings Metal Constructions and Industrial Building, this task was assigned by the Ministry of Construction and Public Works.

In 2000, we have been engaged as local counsels of Gallaher Ltd., UK, in connection with the privatisation of BULGARTABAC HOLDING, the biggest producer of tobacco and tobacco products in Bulgaria.We have finalized the preparation of the legal due diligence assigned by the Ministry of Construction and Public Works for 9 big enterprises. We have also been involved in the rehabilitation procedure for Varna Shipyard, acting on behalf of Cammel Laird Plc. We have acted as local counsel of National Bank of Greece in connection with the acquisition by the latter of majority stake in United Bulgarian Bank.

One of the latest successful privatisation deals with the involvement of LIC- Penkov, Markov & Partners was in the sphere of railway construction and maintenance where a consortium between a local company and Koehne Gleisbau GmbH has purchased The Repair and Reconstruction Enterprise, Sofia City, an autonomous part of The Bulgarian State Railways National Company.

We have also participated in the establishment of several dozens of joint ventures with significant foreign interest in manufacturing, agriculture, electronics, telecommunications, chemical industry, soft drinks, trade and distribution, etc.

Some of the more significant recent assignments of LIC - Penkov, Markov & Partners are:

Advice to Hewlett Packard Company on the anit-trust and protection of competition issues including legal representation on these issues for the merger with Compaq Computer Corporation.

Advice to TBI Holdings in the privatisation of the biggest Bulgarian insurance company State Insurance Institute-DZI.

Advice to EBRD on its financing of the activities of Balkanfarma - a major pharmaceutical producer, for an amount of Euro 21,5000,000 for which we received a mark of record by the EBRD. EBRD was advised the same year as well on the finance retstructuring for Astera Holding- a cosmetics producer.

Advice and Legal Assistance to Siemens AG in the acquisition of the state-owned shares in DIGICOM Ltd. (later renamed to Siemens IC EOOD), thus becoming the single-owner of this company and continued to render regular legal services to Siemens AG and DIGICOM Ltd.

Advice to Strabag Bau Holding GmbH, Germany in its investment in a construction company in Bulgaria.

Legal representation of ESSO UK as a creditor in the insolvency procedure for Balkan Airlines.

Legal assistance rendered to ADVENT INTERNATIONAL in connection with the successful privatisation of the Bulgarian Telecommunications Company.

Acting as a consultant and privatisation intermediary of the Privatization Agency in relation to the preparation of the sale of the Bulgarian Commerical Sea Fleet (NaviBulgar) and Bulgarian River Navigation Fleet (the Danube Commercial Fleet), including conduct of the overall due diligence of these companies and preparation of proposals for privatisation strategy.

Legal support to TBIH group in connection with the restructuring of the Bulgarian companies by involvement of financial institution therein.

Legal assistance in relation to the acquisition of assets in the confectionery industry by Chipita International, though a special purpose vehicle.

Legal assistance to Titan Cement in connection with the purchase/sale of cement plants.

Legal assistance to Salini Costruttori S.p.A. in relation to the acquisition of concession rights for Hemus Motorway.

Legal assistance to DaimlerChrysler in connection with the performance of a pilot project with The Ministry of Defence.

Legal assistance to IFA Hotel & Touristik for concluding contract for managing of a complex Black sea resort hotels.