Chambers Europe

Chambers Global

Legal 500


Banking and Finance


Kambourov & Partners provides a very good and well-resourced service to a broad portfolio of banks, corporates, sponsors and venture capital firms. Project finance is the driving force behind much of the firm’s most significant work, and in this regard it advised RWE Power on the financing of Bulgaria’s second nuclear power plant, NPP Belene. As well as big-ticket financing work, the team continues to provide ongoing legal advice to Emporiki Bank in Bulgaria on various issues regarding internal restructuring. One of the core members of the team Yonko Hristov, displays “excellent attention to detail” and provides “diligent research” while Vladimir Rangeloff and Yavor Kambourov are also recommended.

Capital Markets


Led by managing partner Vladimir Rangeloff, Kambourov & Partners provides professional and personal capital markets advice. The practice advised the Law Debenture Trust Corporation in its role as trustee of a EUR320m bond issuance by Balkan Steel Finance and has handled a significant amount of work for funds including the Black Sea Property Fund, ELANA Agricultural Land Opportunity Fund and Gramercy Emerging Markets.

Corporate and M&A


Kambourov & Partners has an excellent pedigree in the market as a result of its ability to provide commercial and pragmatic advice to clients from various industries engaged in M&A activity, as well as more routine commercial matters. The practice provides diligent research, good advice and close attention to detail. Noted for its ability to advice on the concomitant tax and competition issues which regularly arise, the firm is regularly instructed on significant mandates requiring a full-service approach. Highlights included advising Austrian company Grain on the local law issues associated with its acquisition of Consulteam. Praised for his remarkable knowledge of the strategic processes in the country, Vladimir Rangeloff has played a key role in many of the most significant instructions, handled by the firm, including advising Lithuanian company Maxima on its acquisition of Bulgarian supermarket chain Evropa. Mitko Karushkov heads a six-partner team whose clients include RWE Power, the National Bank of Greece, the European Trade Centre and WITTE Automotive.

Privatisation, PPP and foreign investment


Recognized for its ability to provide ‘sound legal judgment that takes into consideration both economic and political ramification’ Kambourov & Partners is a natural choice for clients engaged in politically sensitive mandates. For example, in what was one of the country’s largest PPPs to date, the firm successfully advised RWE Power on its selection by the Bulgarian National Electricity Company in a public procurement process to become the private owner of 49% of the country’s second nuclear power plant. Praised for his outstanding knowledge in competition issues, Stefan Tzakov is head of the firm’s energy and natural resources, public procurement and concessions group.

Projects, energy and natural resources


Undoubtedly, one of its strongest suits, Kambourov & Partners’ energy practice continues to grow from strength to strength, particularly in relation to gas and energy production, distribution and regulation. It continues to receive a significant flow of work from energy giant E.ON in relation to its operations in Bulgaria, on both the contentious and non-contentious side. For example, as well as advising it in relation to obtaining a licence for the purposes of electricity trading, the firm also continues to represent it in various appeals against the decisions of the Energy Regulator before the Supreme Administrative Court. On the renewables front, led by outstanding department head Stefan Tzakov, the team continues to represent Greenergy in the development and construction of a wind power plant. Clients appreciate the firm’s ability to provide “a blend of legal expertise and a peculiar coolness which they seem to be breeding and encouraging”.

Real Estate and Construction


Praised for its in-depth knowledge and excellent negotiation skills, Kambourov & Partners has the corporate clout and gravitas to represent clients in some of the markets most significant transactions. The ‘highly impressive’ Atanas Shopov heads the team and is regularly at the forefront of many of the firm’s most complex mandates. Recently, Shopov has advised MULTI Development Bulgaria on mall development and has also been involved in the development and construction of a chain of stores for the Austrian retailer BauMax. Aided by “a superior finance capability”, the firm has also picked a number of mandates from funds investing in property. For example, it is currently representing the Black Sea Property Fund in acquiring and developing land for the purposes of four residential real estate projects along the Black Sea coast. Emil Emanuilov is appreciated by clients for his high-level of service and responsiveness”.



One of the clear market leaders in the media and entertainment sector , Kambourov & Partners offers ‘tremendous knowledge, experience, dedication and creativity’ to a fantastic roster of clients including televisions channels, movie producers and radio stations. For example, the practice continues to advise leading domestic TV production companies Global Films and Global Vision across a range of regulatory and contractual issues. Department head Mitko Karushkov ‘has very solid knowledge” of all laws related to the entertainment business in Bulgaria and is consequently very creative in his advice. Senior associate Margarita Guigova is lauded by clients for her overall IP expertize. ‘You can tell she researches every issue to the core and covers every possible perspective before delivering the advice.’