BOYANOV & Co. acted as local counsel for Piraeus Bank SA on the sale of its shareholding stake (99.98%) in Piraeus Bank Bulgaria AD to Eurobank Bulgaria AD (the “Transaction”).

On 13 June 2019 the sale was successfully closed after completing an internal assets reorganisation for Piraeus Bank Bulgaria AD and a number of other pre-closing steps. The instrumental support of BOYANOV & Co. was highly appreciated by all parties in the Transaction who also gave consent BOYANOV & Co. to support the buyer Eurobank Bulgaria AD, as its long-term client, on the issuance of competition clearance and BNB clearance for the Transaction. The Transaction was also approved by the Hellenic Financial Stability Fund.

Mediobanca acted as financial adviser to Piraeus Bank, whilst White & Case LLP acted as international legal counsel for the Transaction. BOYANOV & Co.’s team was led by partner Yordan Naydenov and also included partner Peter Petrov, senior associate Borislav Notovsky and associate Adriana Bakalova.