20 years together

Zoya Todorova


Ms. Zoya Todorova is a partner at Dimitrov, Petrov & Co. Law Firm, which she joined in 2005. Her current practice encompasses the areas of competition law, corporate and commercial law, M&A, energy law. She is Head of the Corporate Law, M&A and Competition Law practice groups. 
Ms. Todorova has broad practical experience being engaged in a number of large scale M&A projects. Acting both on the seller’s and the buyer’s side she advised clients throughout the whole process of acquisition transactions, including legal due diligence, representation, negotiations and execution of transaction documents. Ms. Todorova demonstrates rare expertise and accurate assessment in the sphere of corporate law, including business restructuring, contractual issues concerning establishment of joint ventures, outsourcing, overall structuring of transactions. She has been in charge of and brought to a successful end a number of landmark competition cases with regard to which some decisions of key importance to the market environment in the country were pronounced by the Bulgarian competition authority. Ms. Zoya Todorova possesses extensive experience in advising clients in connection with the performance of licensed activities in the energy sector.
Her impressive client work has earned her a Chambers Europe 2020 recommendation in the areas of competition/antitrust and employment. She has been also named leading individual in the areas of EU and Competition, Healthcare and Life Sciences, and Commercial, Corporate and M&A in the latest edition of the Legal 500. Zoya Todorova is also regularly distinguished as a highly regarded lawyer by the IFLR 1000.
Representative experience:
Corporate and M&A experience:
 Advises the venture capital fund NEVEQ II on а number of local and cross-border multimillion equity investments, including share swap structures; 
 Leads the team in the restructuring of the Bulgarian business of Şişecam Group;
 Leads the team that deals with the structuring and fundraising of a new high-profile ultramodern medical centre in Sofia, Bulgaria;
 Provides full legal counselling to a leading international network operator on a day-to-day basis on corporate and labour issues;
 Advises the structuring and fundraising of a company, which operates as a local certification services provider;
 Assists an international logistic service provider in the establishment of its business in Bulgaria; 
 Headed the law firm’s M&A team in the successful full acquisition of Huvepharma AD from the US private equity investor Rohatyn Group via one of the biggest corporate loans drawn by a Bulgarian company so far – EUR 275 million;
 Advised the preceding sale of 38% of the capital of Huvepharma AD by Advance Properties OOD to a foreign investor including renegotiation of a multimillion syndicated loan;
 Successfully consulted the exit of the founders of one of the biggest carrier neutral collocation data centers in Bulgaria;
 Worked on the seller’s side in the EUR 28 million sale of 82% of the shares of Net Info.BG JSCo. by one of the largest consumer magazine publishers in Europe – Sanoma Magazines;
 Represented Net Info.BG JSCo. in the execution of a series of acquisition transactions of Bulgarian small to mid-sized IT firms;
 Provided full legal assistance with regard to the restructuring of the local business of a Polish retail clothing company with a global reach, which has been successfully operating on the clothing market for over 20 years.
Competition experience:
– Advised British American Tobacco in the merger control clearance by the Bulgarian Commission for Protection of Competition of the €100 million acquisition of leading brands of Bulgaria’s Bulgartabac Holding;
 Advised the Bulgarian part of merger control clearance of the acquisition by the largest manufacturer of TVs in Europe Vestel Ticaret A.Ş. of Compal Electronics Europe sp. z o.o. within the scope of brand licensing agreement with Toshiba;
 Advises Google on a regular basis on compliance with competition rules of different campaigns;
 Provides comprehensive day-to-day legal counselling to the second biggest mobile operator in the country on various competition and regulatory issues arising in the telecommunications sector, including dozens of lawsuits before the Commission for Protection of Competition and the Supreme Administrative Court;
 Advises a major player on the pharmaceutical market on various competition matters arising within the day-to-day operations of the client in a regulated sector which involves a large number of competition issues to be analysed and addressed;
 Defended the interests of Sofia Airport EAD in a complex case before the Commission for Protection of Competition related to an alleged abuse of dominance in the form of predatory pricing;
 Successfully accomplished legal counselling of an international Fortune 500 company with regard to their distribution systems in Bulgaria;
 Evaluated and advised a leading international tire producer on the competition aspects of a promotional game organized for the customers of the company;
 Advised Fox International Channels EOOD, operating as a subsidiary of Twenty-First Century Fox, Inc., on compatibility with competition rules;
 Successfully represented before the CPC and the Supreme Administrative Court a major DTH television operator in an antitrust procedure regarding a case of abuse of dominant position;
 Represented a huge national agricultural fund before the Commission for Protection of Competition in a procedure for receiving competition clearance required for its sale under the merger control rules.
Energy experience:
 Legal consultant of the leading international electricity operator Alpiq AG group in relation to the establishment of its business in Bulgaria, its licensing, trading with electricity, day-to-day operations and in the conclusion of a Joint Venture Agreement with a Greek state commercial enterprise;
 Advises a hydroelectric power plant with regard to numerous regulatory matters in the renewable energy sector, including the registration of the power plant on the free energy market;
 Part of the team that consulted a huge natural gas distribution project of one of the leading world producers of natural gas by providing comprehensive analysis on the Bulgarian and EU gas sector specific regulations;
 Provided comprehensive legal advice to the top-level Austrian alternative energy producer Windkraft Simonsfeld AG on corporate and energy law matters.
Zoya Todorova is a member of the Sofia Bar Association and the International Bar Association, where she has also been appointed Regional Fora Liaison Officer of the European Regional Forum.
She speaks English fluently and has a good command of German.


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