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Veliko Savov

Counsel
Head of TMC Group, Head of Hotels & Leisure Sector Group

Contact
CMS Sofia
Landmark Centre
14 Tsar Osvoboditel Blvd.
Floor 1
1000 Sofia
Bulgaria
Languages Bulgarian, English

Veliko Savov is a counsel in the Corporate practice group of CMS Sofia and head of the TMC practice group and Hotels & Leisure in Bulgaria. Veliko specialises in mergers and acquisitions, cross-border transactions, joint ventures and corporate governance matters. Veliko has extensive experience in leading large teams on complex transactions and has participated in some of the most prominent M&A deals in Bulgaria.

Instructed by technology, start-up and new business clients, Veliko has advised major investors on landmark deals in the country.

Before joining CMS, Veliko was an associate in the largest publicly listed telecommunications company in Bulgaria, dealing mainly with corporate and commercial matters.

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"Impressive lawyer."

Chambers Europe

"Communicative and open, a pleasure to work with."

Chambers Europe

Relevant experience

  • Enel Green Power, the renewable energy arm of Italy's Enel Group, on the sale of a 42MW wind park in Bulgaria to the Switzerland-headquartered energy company MET Group.
  • Malta-based ACF Renewable Energy, a subsidiary of ACWA Power, BlackRock and Crescent Capital, on the sale of its 60.4 MWp photovoltaic (PV) power plant in Bulgaria to Enery Development GmbH, an Austrian investor and project developer in the renewable energy sector. The deal was named CEE Deal of the Year 2020 by CEE Legal Matters Magazine.
  • Advent International and its portfolio company Zentiva on the acquisition of the CEE business of global generic and over-the-counter (OTC) pharmaceuticals manufacturer Alvogen. The deal was awarded CEE Deal of the Year 2019 by CEE Legal Matters Magazine.
  • Hugo Pfohe on the sale of its Bulgarian subsidiary Moto Pfohe Group to Sumitomo Corporation. The transaction was awarded Bulgarian Deal of the Year 2017. 
  • KJK Sports on the sale of KJK’s 60% shareholding in Leader 96, an electric bicycle producer, to the Rohatyn Group, a global asset management firm.
  • The shareholders of Musala Soft AD on their 100% exit by sale to ARICOMA Group, part of KKCG.
  • European Bank for Reconstruction and Development (EBRD) on the acquisition of a minority share in a Bulgarian publicly listed technology company. 
  • PPF on the Bulgarian aspects of the planned acquisition of Nova Broadcasting Group, including its subsidiary Net Info AD.
  • Riverside Europe Partners LLC, a private equity fund, on the acquisition of a majority shareholding in the Bulgarian technology company Fadata.
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Memberships & Roles

  • Sofia Bar Association
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Awards & Rankings

  • Ranked for TMT, Legal 500, 2023
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Education

  • 2003 – LL.M., Faculty of Law, Sofia University “St. Kliment Ohridski”
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21/10/2016
CMS advises AIG on sale of CEE assets to Fairfax
CMS has advised American International Group, Inc. (NYSE:AIG) on the Central European aspects of the sale of some of its insurance operations to Fairfax Financial Holdings Limited (TSX: FFH, FFH.U). As...
20/12/2016
CMS advises Advent International on sale of Devin AD to Spadel Group
CMS has advised Advent International, one of the largest and most experienced global private equity investors, on the sale of Devin AD, a Bulgarian company dedicated to bottling and selling of mineral...
08/09/2017
CMS advises Swedish investor on acquisition in CEE region
CMS has advised Axel Johnson International, a privately owned Swedish industrial group and part of Axel Johnson, one of the Nordic region’s leading trading groups, on an acquisition of a majority stake...

Feed

09/05/2023
Online gambling law and regulation in Bulgaria
Find out more about gambling laws in Bulgaria. Last updated: April 2023
31/05/2021
CMS Network Sharing 4.5
On the brink of a new generation
21/02/2018
CMS advises PPF Group on acquisition of Nova Broadcasting Group
CMS has advised Czech investment fund, PPF Group on the acquisition of Bulgarian media company, Nova Broadcasting Group (‘Nova’), 95% in the company was bought from Modern Times Group (‘MTG’)...
01/01/2018
Winning together
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14/12/2016
M&A: HR Do's and Dont's – Bulgaria
Mergers & Acquisitions are meant to strengthen a company’s position on the market. But success is not always assured. Neglecting to address HR issues until too late is not unusual. So how can you make...
11/12/2012
Bulgaria: Distance selling laws to be amended
Protections for consumers entering into distance sales contracts are to be amended. Amendments to the Consumer Protection Act were filed in Parliament on 29 November 2012. This includes a new paragraph...
19/10/2012
Bulgaria: CRC rules on contracts regulated by the Electronic Com­mu­nic­a­tions...
The Communications Regulation Commission has announced its position on distance sale and standard terms contracts agreed under the Electronic Communications Act. Distance sale contracts The Electronic...
11/10/2012
Bulgaria: FSC to implement EU guidance on market manipulation
The Financial Supervision Commission (FSC) has adopted 3 - level guidance on the common operation of the Market Abuse Directive issued by the Committee of European Securities Regulators (CESR). The...
27/09/2012
Bulgaria: compulsory earthquake insurance for state buildings
From 1 January 2013, all state-owned buildings must be insured against earthquakes and natural disasters, under draft changes filed in Parliament. The requirement for compulsory insurance excludes...
27/09/2012
Bulgaria: proposed change to wage guarantee on employer insolvency
A proposal to alter the guaranteed recovery of payments due to employees and workers when their employer becomes insolvent has been filed with Parliament. The Labour and Social Policy Com­mis­sion’s...
18/09/2012
Bulgaria: new FSC practice statement on repo and reverse repo deals
The Financial Supervision Commission has issued its first detailed statement of practice on treating repo deals/reverse repo deals with securities that are registered in the Bulgarian Central Depository...
14/09/2012
Bulgaria: new draft Tourism Act adopted at first reading
Draft legislation to replace the current Law on Tourism has been adopted at first reading in Parliament. If enacted, the legislation would: • ensure the conditions for the sustainable development of...