Through its decision dated 21 August 2025 the Competition Protection Commission (CPC) granted unconditional merger clearance to Bulgarian Development Bank EAD and Electricity System Operator EAD to implement a concentration through the establishment of two joint ventures – a special purpose investment company and a servicing company. The project is of strategic importance and aims to optimize energy consumption, reduce electricity costs, achieve energy independence, and promote self-generation and consumption of electricity from renewable energy sources, primarily for public institutions and entities. Given the significant public interest in the project, the CPC ruled its decision to have immediate effect. Spasov & Bratanov had the pleasure of advising the founding parties on all aspects related to the contemplated concentration, including the initial analysis regarding the necessity of obtaining a merger clearance, collection of the required documents and information, preparation of the merger notification, and legal representation before the CPC. Our team was led by the Managing Partner Georgi Spasov and included Name Partner Boyko Bratanov, as well as Senior associates Kremena Yaneva-Ivanova (competition law expert) and Ina Raikova (capital markets expert).
Date: August 2025
Source: Spasov & Bratanov Lawyers’ Partnership