The Law Firm was engaged with a new M&A deal project lead by Isiklar Holding A.S., a major Turkish company that wished to acquire massive hunting ground in the Stara Planina mountain range as well as all facilities thereto to as part of his investment strategy in hunting tourism. We were glad to be a part of the project, not only because of the relations with this particular client, but also because of the increasing importance of Turkish investments in Bulgaria.
The project’s challenges were related to specific Bulgarian legislation regulating hunting and related hunting activities. Furthermore the legal status of the real estate was specific. Moreover, the Sellers engaged to participate in a tender procedure for a neighbouring hunting ground as a condition precedent for the acquisition.
We had to limit the risk for our client as well as to ensure that the company that shall be acquired will be valid owner of the assets required by our client and no hidden obligations shall be present. We successfully provided the plan for acquisition and the necessary steps for completion of the project. Our team drafted the memorandum for understanding, the share-purchase agreement and all related documents for completion.
We managed to close this quite complex deal in June 2019.