Djingov Gouginski Kyutchukov & Velichkov


IFLR1000 Reviews

Financial and corporate

Djingov Gouginski Kyutchukov & Velichkov (also known as DGKV) was established in 1994. It has grown to more than 50 qualified lawyers in its headquarters in Sofia, as well as a representative in Berlin.


Focusses / specialisms

The firm is one of the most prominent independent firms in Bulgaria and often advises on the market's largest financial and corporate transactions. 

In banking and finance the firm is most active on the lender side, advising domestic and foreign banks on acquisition financings. It also represents banks as creditors on debt restructurings.

In the capital markets space the firm is experienced in debt and equity work.

In M&A the firm regularly works for strategic and financial buyers.

In the projects space the firm has strong infrastructure and PPP expertise. It is also notable for advising participants on public procurement tenders across transport, electricity and oil and gas sectors.


Key clients

The firm has worked on behalf of important banks such as OTP Bank, DSK Bank and EBRD. It has alos advised private investment firms, such as PFF or SSM partners. 


Research period review: 30th edition (2019/2020)

During the research period the frim was active in banking and finance, M&A and projects.

The firm was recently active for lenders on financing transactions, working on cross border and domestic deals. It did work for borrowers too, including for investment firms, to fund projects in Bulgaria. 

In M&A, the firm did work on buy and sell side in numerous transactions.

The firm worked on project development mandates, counselling private parties on tender procedures in PPP (private-public partnerships) and advising foreign investors on regulations and transactions in Bulgaria.


Deal highlights: 30th edition (2019/2020)

Bulsatcom restructuring

Delfort acquisition of Flexprint

Globe Trade Centre €50 million financing 

Horizon Capital acquisition of TechHuddle

Iron Mountain €5 million acquisition of Hamilton data

PPF $2.1 billion acquisition of CEM Group

SSM Partners acquisition OF Kukui Corp

Terra Tour Service €120 million refinancing


Client feedback: 30th edition (2019/2020)


“They are responsive and reliable.”



“They are quite sophisticated, in other words when I work with them as an M&A counsel on a deal they are as aware of the issues and the overall strategy, tactics, commercial approach as the international law firms that I have worked with or on the other side of. It makes it much easier when you are working together because they very quickly grasp the issues and understand the dynamics of what steps we should be taking to deal with the issues. They are responsive, they are polite and pleasant to work with. They are quite non-nonsense and suitably concise in their advice.”


Valentin Bojilov

“Very friendly, calm, knowledgeable and concise. I enjoyed working with him a lot, he was non-nonsense and at the same time, smart and to the point. He had very good industry knowledge and matching legal knowledge.”


Ralitsa Gougleva

“Provide professional advice on all issues we raise”