"Eurolex Bulgaria" Ltd. - News - Purification plant project - News

At the end of the last year the Company was engaged in preparation of package of laws between a Bulgarian Municipality and a foreign investor specialized in Waste Water Treatment Plant Construction. The concept is establishment of a joint venture for purification plant building and operation. It is one of the first projects of such type where the purification plant will be constructed with investors’ funds but not with State Budget money or European funds. The Municipality’s contribution to the joint venture represents municipal land intended for the purification plant construction and the foreign investor participates with funds and know-how.

Recently, Eurolex Bulgaria Ltd has successfully completed the purchase of about 20 000 square meters regulated land plot situated in the town of Plovdiv together with the commercial site built thereon for one of its foreign clients. The deal is the forth alike acquisition for the same client – large foreign company, one of the world leaders in construction and management of urban and out-of-town commercial centers.

Recently Elitsa Parvanova and Violeta Dikova have joint our team in Sofia and we would like to present them in brief:

Elitsa Parvanova is a junior lawyer, registered in Sofia City Bar Association since 2006. She is a full-time assistant in rhetoric and a lecturer in legal rhetoric in the Faculty of Law of Sofia University. She has a lot of publications in different legal magazines. She is fluent in English and French. Her professional interests are in the field of concessions, commercial legislation, civil law and civil procedures, administrative, property and obligation law, international private law, heritage law, etc.

Violeta Dikova is a lawyer, registered in Sofia City Bar Association since 2004. She has specialised in in the field of property law, companies law and labour law. She has worked as an expert in Ministry of Justice, directorate "International Legal Cooperation, European Integration and International Legal Assistance", dealing with european and international projects coordination in the public sector.

Recently Gergana Kostova (Kostakieva) and Desislava Gradeva have joint our team in Varna. We have the pleasure to  present them in brief:

Gergana Kostova (Kostakieva) is a lawyer since 2004. She is a PhD student in Civil and Family Law in the Institute for Legal Studies at the Bulgarian Academy of Sciences. She has participated as a lecturer in many international seminars and has published articles in Legal World magazine, connected with her professional interests in the fields of medical legislation, healthcare and pharmaceutical activities; obligation,  property and procedural law.

Desislava Gradeva is a specialist in the field of property and civil law. She has worked as consultant for one of the most popular and one of the earliest established real estate agencies in Bulgaria - Gradev Ltd.

As a legal consultant of CEZ in the exclusively complicated deal for privatization of TEC Varna, we have the pleasure to inform that after 21 months of hard work, it is already accomplished fact.

CEZ is the new owner of all 572 821 shares. Thus the Czech company, already possessing the energy distributing companies in the capital, in Sofia-region and in Pleven, has become the only owner of the seashore termal electric station for the record privatization price of 206 003 616,23 euro.

Within this privatization project CEZ will invest  99 879 680,27 euro for 16% increase in the capital of TEC Varna. In addition to that, according to a memorandum signed between CEZ and the Ministry of economy and energy, CEZ has undertaken the obligation to invest in the next 4 years another 40 million euro in the fields of renewable energy sources, hydroelectric power stations, biomass burning and infrastructure projects.

In the end of July the lawyers of Eurolex Bulgaria Ltd finalized successfully two deals on acquisition of 70 % of the capital of local radios /Radio Gong and Retro Radio/ on behalf of a foreign investor. The deals were realized after receiving duly permissions by the side of Communications Regulation Commission and Council for electronic media. Eurolex Bulgaria Ltd realized the entire legal service of the procedures on permission receipt as well as on the preparation and successful realization of all stages of the complicated factual composition of the acquisition deals.

In the middle of July the attorneys of Eurolex Bulgaria Ltd. finalized a very difficult deal for the acquisition of large area intended for construction of a new business centre in Sofia. The deal was particularly complicated because of the enlargement of the area, including more than 20 real estates bought from more than 87 owners. The deal was finalized within an extremely short period of time.
 

We have the pleasure to inform all our clients and friends that we have opened a new office in our Black sea metropolis Varna. The office is situated in the city centre on the following  address: No 75, 8-mi Primorski polk street.

The Privatization agreement for the sale of TEC Varna EAD was signed on May'04 2006.

Eurolex Bulgaria Ltd., together with the czech branch of White&Case - multinational law company from USA, one of the biggest and one of the most active on the Bulgarian market, as well as the British Linklaters, consulted the buyer CEZ in this deal, described by the Privatization agency as the biggest on base of asset value/price ratio.

The total price paid by CEZ is about 350 million euro - including 206 million euro for 100% of the shares, 108 million euro for increase of the capital of the company at the moment of acquisition of the shares and 40 million euro for the establishment of Energy Invesments Fund for investments in the Bulgarian Energy Sector within the next four years.

The European Competence Center at HVB Bank Biochim and Hebros Bank has included Eurolex in the recommended list of consultants qualified for preparation and management of projects under European and other international programmes.