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Portrait of Ivan Gergov

Ivan Gergov

Senior Associate
Attorney-at-law

CMS Sofia
Landmark Centre
14 Tzar Osvoboditel Blvd
1000 Sofia
Bulgaria
Languages Bulgarian, English, German
Private Equity

Expertise

Ivan Gergov is an attorney-at-law and Senior Associate working in the private equity practice of CMS Sofia. 

In this capacity, he acts on behalf of portfolio companies and their managers and structures and executes various transactions, with a particular focus on leveraged buyouts, private debt financings and private real estate transactions. In the recent years, he has also focused on distressed acquisitions of offices, the purchase of non-performing loan portfolios as well as the provision of loans to technology companies by investment managers. In addition, Ivan Gergov has successfully negotiated various shareholders’ and management incentive schemes.

Previous professional experience / education

Prior to joining CMS, Ivan worked with a leading international law firm and two investment banks

Publications

Public M&A – Getting The Deal Through, 2018

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Relevant experience

  • Advising a major international bank on the restructuring of its EUR 57 million real estate financing of a shopping centre.
  • Advising a leading Bulgarian bank on multiple sales of NPL portfolios with an overall value of more than EUR 500 million.
  • Advising a leading multinational telecommunications company on the EUR 200 million acquisition of a Bulgarian internet provider.
  • Advising a US-based private equity fund on the acquisition of three NPL portfolios with an overall value of more than EUR 250 million as well as the conclusion of ancillary profit-sharing agreements with the banks involved.
  • Advising a syndicate of private investors on the provision of a EUR 300 million general purposes facility and a EUR 330 million incremental facility to a FinTech payment services provider.
  • Advising a Swiss-based family-owned holding company on the acquisition of the ICT leader in Bulgaria.
  • Advising three Austrian real estate investors on the largest sale of office space in Bulgaria.
  • Advising a consortium of lenders on the acquisition financing of three shopping centres.
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Publications

  • Country chapter on Bulgaria in Getting The Deal Through: Public M&A 2018
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Education

  • 2013 – University College London (UK), Master of Laws (LL.M.)
  • 2012 – University of Birmingham (UK), Bachelor of Laws (LL.B.)
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Banking & Finance

Expertise

Ivan Gergov is an attorney-at-law and Senior Associate in the banking & finance team at the CMS office in Sofia. His practice focuses on advising international financial institutions, agents, large corporations and arrangers on a wide range of national and cross-jurisdictional matters, in particular debt financings, restructurings and non-performing loans.

Ivan Gergov is particularly experienced in advising financial institutions and corporate clients on real estate and project financing transactions. He has acted for a wide range of lenders and borrowers alike, having extensive expertise regarding the particulars of financing office buildings, shopping centres and renewable energy projects. Recently, he has also been involved in a number of restructurings and the sale of non-performing loan portfolios. Ivan Gergov has been leading the restructurings of several high-profile financing deals as well as the largest NPL sales in Bulgaria, supporting both sellers and buyers.

As Ivan Gergov also has a strong corporate and private equity practice, he can comprehensively advise his clients, covering all aspects of their transactions in Bulgaria and the wider CEE region.

Previous professional experience / education

Prior to joining CMS, Ivan Gergov worked at a leading international law firm and two investment banks.

Publications

Public M&A – Getting The Deal Through, 2018

more less

Relevant experience

  • Advising a major international bank on the restructuring of its EUR 57 million real estate financing of a shopping centre.
  • Advising a leading Bulgarian bank on multiple sales of NPL portfolios with an overall value of more than EUR 500 million.
  • Advising a leading multinational telecommunications company on the EUR 200 million acquisition of a Bulgarian internet provider.
  • Advising a US-based private equity fund on the acquisition of three NPL portfolios with an overall value of more than EUR 250 million as well as the conclusion of ancillary profit-sharing agreements with the banks involved.
  • Advising a syndicate of private investors on the provision of a EUR 300 million general purposes facility and a EUR 330 million incremental facility to a FinTech payment services provider.
  • Advising a Swiss-based family-owned holding company on the acquisition of the ICT leader in Bulgaria.
  • Advising three Austrian real estate investors on the largest sale of office space in Bulgaria.
  • Advising a consortium of lenders on the acquisition financing of three shopping centres.
more less

Awards & Rankings

  • Rising Star for Banking and Finance, IFLR1000 (2022)
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Publications

  • Country chapter on Bulgaria in Getting The Deal Through: Public M&A 2018
more less

Education

  • 2013 – University College London (UK), Master of Laws (LL.M.)
  • 2012 – University of Birmingham (UK), Bachelor of Laws (LL.B.)
more less
Corporate / M&A

Expertise

Ivan Gergov is an attorney-at-law and Senior Associate working in the corporate/M&A practice of CMS Sofia. He advises clients on a broad range of corporate law matters, with a particular focus on M&A deals, corporate governance and capital markets.

Ivan Gergov has extensive experience in advising clients on complex mergers and acquisitions in a broad range of industries. He has advised both sellers and buyers, having extensive expertise in TMC, real estate and energy mandates. More recently, Ivan Gergov has gained significant experience in the area of capital markets. In particular, he has worked on multiple acquisitions of public companies, compliance with mandatory provisions by public companies and on obtaining licenses for investment intermediaries and AIFMs.

In addition, Ivan Gergov co-authored the Bulgarian chapter on Public M&A for the 2018 edition of Getting The Deal Through.

Previous professional experience / education

Prior to joining CMS, Ivan worked with a leading international law firm and two investment banks

Publications

Public M&A – Getting The Deal Through, 2018

more less

Relevant experience

  • Advising a major international bank on the restructuring of its EUR 57 million real estate financing of a shopping centre.
  • Advising a leading Bulgarian bank on multiple sales of NPL portfolios with an overall value of more than EUR 500 million.
  • Advising a leading multinational telecommunications company on the EUR 200 million acquisition of a Bulgarian internet provider.
  • Advising a US-based private equity fund on the acquisition of three NPL portfolios with an overall value of more than EUR 250 million as well as the conclusion of ancillary profit-sharing agreements with the banks involved.
  • Advising a syndicate of private investors on the provision of a EUR 300 million general purposes facility and a EUR 330 million incremental facility to a FinTech payment services provider.
  • Advising a Swiss-based family-owned holding company on the acquisition of the ICT leader in Bulgaria.
  • Advising three Austrian real estate investors on the largest sale of office space in Bulgaria.
  • Advising a consortium of lenders on the acquisition financing of three shopping centres.
more less

Publications

  • Country chapter on Bulgaria in Getting The Deal Through: Public M&A 2018
more less

Education

  • 2013 – University College London (UK), Master of Laws (LL.M.)
  • 2012 – University of Birmingham (UK), Bachelor of Laws (LL.B.)
more less
12/05/2022
10 key as­pects of the re­vised EU com­pet­i­tion law in the field of dis­tri­bu­tion...
The new Ver­tic­al Block Ex­emp­tion Reg­u­la­tion (VBER) and the new ac­com­pa­ny­ing Ver­tic­al Guidelines (VGL) were pub­lished on 10 May 2022. The new VBER will enter in­to force on 1 June 2022 and ap­ply for the next twelve years. The new VBER/VGL in­tro­duce sev

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16/02/2022
CMS Sofia ad­vised El­ev­at­or Ven­tures on the in­vest­ment in a Bul­gari­an e-com­merce...
CMS Sofia suc­cess­fully ad­vised El­ev­at­or Ven­tures (EV) – a ven­ture cap­it­al firm part of Raif­feis­en Bank In­ter­na­tion­al, on the third round of in­vest­ment for Cloud­Cart.As part of its strategy to in­vest and grow di­git­al busi­nesses in the CEE re­gion, EV pin­pointed Cloud­Cart as the next rising star among European tech com­pan­ies. Cloud­Cart’s plat­form of­fers end-to-end solu­tions for SMEs grow­ing their sales on­line or start­ing e-com­merce busi­nesses from scratch.  Our loc­al team led by Di­m­it­ar Zwi­atkow to­geth­er with Ivan Ger­gov and Elitsa Hinova ad­vised EV on all leg­al as­pects re­lat­ing to the con­clu­sion of the equity doc­u­ments. Set­tling for­eign in­vestor re­la­tion­ships with loc­al busi­nesses at times is par­tic­u­larly chal­len­ging due to the spe­cif­ics of the na­tion­al le­gis­la­tion.  Deals in the private equity and ven­ture cap­it­al seg­ment seem to grow in the CEE re­gion and to be­come in­creas­ingly at­tract­ive for in­vestors across vari­ous in­dus­tries.
09/09/2021
CEE Mer­ger Clear­ance Mat­rix 2021
Cross bor­der M&A trans­ac­tions that re­quire mer­ger con­trol ap­provals in sev­er­al jur­is­dic­tions have be­come com­mon­place. To re­duce time delays and keep costs down, it is es­sen­tial to identi­fy at the early...
04/08/2021
Fu­ture NPL port­fo­lio sales in Bul­garia could at­tract in­ter­na­tion­al in­vestors
The sale of port­fo­li­os of non-per­form­ing loans (NPLs) in Bul­garia is once again a hot top­ic. Lenders ex­pect the per­cent­age of work-out ex­pos­ures to in­crease as the gov­ern­ment's vari­ous stim­u­lus pack­ages...
03/08/2021
CMS Ad­vises Uni­Cred­it Bul­bank on Re­fin­an­cing Sol­ari­an Hold­ings Port­fo­lio
Pub­lished on ceeleg­al­mat­ters.com­CMS has ad­vised Uni­Cred­it Bul­bank on the re­fin­an­cing of Sol­ari­an Hold­ing­s' 21-mega­watt op­er­a­tion­al photo­vol­ta­ic port­fo­lio in Bul­garia.Ac­cord­ing to CMS, the EUR 36 mil­lion re­fin­an­cing pro­ject relates to a num­ber of spe­cial-pur­pose com­pan­ies, in­clud­ing Con­sult Sol­ar EOOD, Sol­ar R1 EOOD, Sol­ar RAS EOOD, Green En­ergy Park EOOD, and Vento Eco En­ergy EOOD, all op­er­at­ing un­der the con­tracts-for-premi­um scheme, in­tro­duced by Bul­garia in or­der to re­place the feed-in tar­iff un­der the Second Re­new­able En­ergy Act.
23/07/2021
Reg­u­lat­ing al­gorithms in the EU: the im­port­ance of AI le­gis­la­tion from...
The European Uni­on's (EU) push for har­mon­ised reg­u­la­tion of ar­ti­fi­cial in­tel­li­gence (AI) sys­tems entered a new chapter when the European par­lia­ment and the Coun­cil re­cently pro­posed Reg­u­la­tions that har­mon­ised...
13/05/2021
Bul­garia en­acts EU dir­ect­ives on reg­u­lated con­sumer di­git­al en­vir­on­ment
On 4 March 2021, the Bul­gari­an par­lia­ment ad­op­ted the Act on the Sup­ply of Di­git­al Con­tent and Di­git­al Ser­vices and the Sale of Goods, which im­ple­ments the pro­vi­sions of Dir­ect­ive (EU) 2019/770 on con­tracts...
31/03/2021
Dis­cus­sion on the M&A mar­ket in Bul­garia
CMS Sofia Part­ner Gentscho Pavlov and Seni­or as­so­ci­ate Ivan Ger­gov dis­cuss trends on the M&A mar­ket in Bul­garia in an in­ter­view for “Man­ager” magazine (the in­ter­view is in Bul­gari­an). Read the in­ter­view...
19/03/2021
Un­fair trad­ing prac­tices in the ag­ri­cul­tur­al and food sup­ply chain
Com­pan­ies act­ing in the food sup­ply chain for 2021 should re­vise their sup­ply agree­ments and har­mon­ise their busi­ness prac­tices with the new na­tion­al laws im­ple­ment­ing Dir­ect­ive (EU) 2019/633 on un­fair trad­ing prac­tices in B2B re­la­tion­ships in the ag­ri­cul­tur­al and food sup­ply chain. The un­fair trad­ing prac­tices (so-called UT­Ps) scheme must be trans­posed to na­tion­al le­gis­la­tions by 1 May 2021. WHAT? The UT­Ps scheme seeks to com­bat B2B prac­tices in the ag­ri­cul­tur­al and food sup­ply chain that grossly de­vi­ate from good com­mer­cial con­duct, are con­trary to good faith and fair deal­ing, and are uni­lat­er­ally im­posed by one trad­ing part­ner on an­oth­er. In short, the in­ten­tion of the rules is to shield ag­ri­cul­tur­al pro­du­cers or any nat­ur­al or leg­al per­son selling ag­ri­cul­tur­al and food products from UT­Ps. The Dir­ect­ive en­vis­ages that na­tion­al laws will ap­point com­pet­ent au­thor­it­ies to en­force the UTP rules. WHO? The rules are not auto­mat­ic­ally ap­plic­able to all sup­pli­er-buy­er re­la­tion­ships. The rules ap­ply when there is a sig­ni­fic­ant im­bal­ance in ne­go­ti­ation power, which is as­sessed by com­par­ing the an­nu­al turnovers of the parties. HOW? Pre­cau­tion­ary meas­ures for de­term­in­ing busi­ness re­la­tion­ship con­di­tions must be ap­plied since na­tion­al laws have a wide dis­cre­tion in de­fin­ing the UT­Ps, provided that at least those spe­cified in the Dir­ect­ive are in­cluded. The list of UT­Ps is di­vided in­to prac­tices that are al­ways for­bid­den (e.g., pay­ment peri­ods longer than 30 or 60 days (de­pend­ing on the type of products), uni­lat­er­ally chan­ging cer­tain terms of a sup­ply agree­ment, etc.) and those for­bid­den de­pend­ing on the cir­cum­stances (e.g., re­quir­ing the sup­pli­er to bear the costs of dis­counts or ad­vert­ising, or to ac­cept back un­sold products without the ob­lig­a­tion of the buy­er to pay for them or for their dis­pos­al).
10/02/2021
Bul­gari­an com­pet­i­tion com­mis­sion in­tro­duces pre-mer­ger no­ti­fic­a­tion dis­cus­sions
On 1 Janu­ary 2021, the Bul­gari­an Com­mis­sion for Pro­tec­tion of Com­pet­i­tion (CPC) in­tro­duced a new pro­ced­ure for com­mu­nic­at­ing with ap­plic­ants in mer­ger no­ti­fic­a­tion pro­ced­ures be­fore the no­ti­fic­a­tion...
22/12/2020
Law and reg­u­la­tion of Cov­id-19 loan morator­i­ums in Bul­garia
1. De­scrip­tion of the le­gis­la­tion 1.1 Is there a morator­i­um on loans le­gis­la­tion im­ple­men­ted in your jur­is­dic­tion? Yes. 1.2 If no: Are there any on­go­ing dis­cus­sions re­gard­ing a po­ten­tial in­tro­duc­tion...
Comparable
05/11/2020
The European Com­mis­sion State Aid Tem­por­ary Frame­work – a SEE per­spect­ive
State aid meas­ures that dis­tort com­pet­i­tion and trade with­in the European Uni­on are gen­er­ally pro­hib­ited un­der the Treaty on the Func­tion­ing of the European Uni­on. Still, the European Com­mis­sion has the...
20/10/2020
Re­struc­tur­ing and Mass Re­dund­an­cies
Em­ploy­ment Snack