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Hyundai Electric advised by CMS on sale of Hyundai Heavy Industries Bulgaria


Korean firm Hyundai Electric & Energy Systems Co. Ltd. has sold its Bulgarian subsidiary Hyundai Heavy Industries Co. Bulgaria AD to the IBG Group. Hyundai Heavy Industries Bulgaria develops, manufactures and distributes transformers and tap changers for large-scale industrial applications. It operates a corresponding production facility in Sofia.

An international CMS team from Germany and Bulgaria headed by lead partners Martin Kolbinger and Gentscho Pavlov advised Hyundai Electric on all legal aspects of the international auction procedure.

With more than 2,500 employees worldwide, Hyundai Electric generated sales of almost EUR 1.5 billion in 2018. It is part of Hyundai Heavy Industries, one of the largest shipbuilding companies in the world with consolidated group sales of more than EUR 21 billion (2018).

CMS Bulgaria
Gentscho Pavlov, Partner
Marin Drinov, Senior Associate, both Corporate
Antonia Kehayova, Senior Associate, Intellectual Property

CMS Germany
Martin Kolbinger, Lead Partner
Michael Suh, Foreign Attorney
Lukas Stegemann, Associate, all Corporate
Peter Endres, Partner
Martin Maurer, Senior Associate, both Commercial
Stefan Lüft, Partner
Annika Lindemann, Associate, both Intellectual Property
Markus Häuser, Partner, Information Technology
Björn Herbers, Partner, Competition

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Portrait of Gentscho Pavlov
Gentscho Pavlov
Portrait of Antonia Kehayova
Antonia Kehayova
Marin Drinov