Chambers Europe

Chambers Global

Legal 500


Banking and Finance


Kambourov & Partners managing partner Vladimir Rangeloff heads the banking and finance practice, which was strengthened in 2007 by the arrival of senior associate Yonko Hristov. Highlights include advising Providence Equity Partners, part of the consortium which successfully acquired BTC, in a deal worth €1.1bn. The practice acted for Gramercy International on the financing of Cable Tel’s €42m programme of acquisitions of cable operators and network equipment in Bulgaria and Macedonia. The firm also advised Gramercy on €50m-worth of investments in two major domestic production companies: Prista Oil and MonBat. Additionally, the practice acted for QVT Financial in the financing of the Super Borovetz projects, valued at €500m. Other banking clients include Volksbanks International, Piraeus Bank and Municipal Bank.

Privatisation, PPP and foreign investment


In March 2007 the firm closed on the four-year privatization of Boyana Film, the National Film Centre of Bulgaria, acting for Nu Image, the local subsidiary of Universal Studios. The practice has provided post-privatization support to E.ON Bulgaria, particularly in relation to the unbundling of the supply and distribution activities of the Varna and Gorna Oryahovitza electricity companies. The firm, in association with Norton Rose LLP – acted for the IFC and the Bulgarian government advising on the design of a national sustainable PPP water supply project. One satisfied client was keen to stress that “they would not consider using any other firm in Bulgaria”.

Projects, energy and natural resources


Headed by partner Stefan Tzakov, Kambourov & Partners has one of the leading energy practices in Bulgaria. One client that has instructed the firm for three years notes: “Kambourov & Partners is the best law firm in the energy sector in Bulgaria due to their great experience in all areas: electricity production, distribution, regulated supply, electricity trade, gas distribution and supply, heat supply”. The Bulgarian operation of major international player E.ON is a key client of the firm, with the practice assisting the company across all its routine operations as well as advising on core issues such as unbundling of supply and distribution activities. In 2007, working in association with Dewey & LeBoeuf, the firm began advising Russian contractor ZAO Atomstoyexport on the Nuclear Power Plant NPP Belene project, Bulgaria’s second power plant, valued at €4.9bn.

Real Estate and Construction


Kambourov & Partners’ real estate and construction practice is headed by Kiro Kirov, who was made partner in 2007. The firm advised Carrefour Marinopolous and South Management Company on two major commercial developments. The first was the European Trade Centre in Sofia (ETC), valued at in excess €35m: the other – the Mall of Bourgas Izgrev (MBI), on the Black sea coast and worth approximately €13m. During the year Kambourov & Partners advised LINK, Bulgaria on the preparation for a sale of a large plot of commercial land on Sofia’s main road artery, Tsarigradsko Chausses, worth €46m. In addition to a considerable caseload of real estate transactions, the firm was also invited to review mortgage and real estate laws in four member states – France, Germany, Italy and Spain – for the cadaster and Registry Agencies, financed by the World Bank. Clients describe the lawyers as “competent and specialists in real estate”.



Mitko Karushkov heads the TMT practice at Kambourov & Partners, which advised both TeliaSonera, Sweden and Providence Equity Partners in relation to their acquisition bids for BTC. The firm also acted for Nokia Corporation on the Bulgarian end of its global merger with Siemens and continues to provide ongoing support to Nokia Corporation and the newly merged entity, Nokia Siemens Networks. Other sector clients include Cable Tel, Global Films and Global Vision. One client complimented: “if we had our legal department, for sure serious attempts would be made to appoint Atanas Shopov as head”.