KGK Law Firm advised VP Management in the acquisition of Grand Hotel Nirvana | Ashton

In the end of 2023, KGK Law Firm successfully finalized the acquisition by VP Management of Grand Hotel Nirvana, located in Sunny Beach, which was previously owned by Slovenian State Holding with principal – the Ministry of Finance of the Republic of Slovenia. The value of the deal exceeds BGN 10 million.

The leading counselor on the deal by KGK Law Firm was the partner Stanislav Georgiev, whose practice is focused on Corporate&Commercial. Trayan Kosev was also actively involved in the different phases of the deal.

KGK Law Firm advised VP Management in all stages of the acquisition – from conducting a detailed due diligence, examining the ownership and lack of encumbrances of over 75 individual objects located in the hotel complex, through the participation in the tender in Slovenia, which VP Management won, preparation and obtaining all the necessary documents for finalizing the transaction, assistance and representation before the financing bank, representation before all state and municipal institutions, until its finalization with the acquisition of the ownership by VP Management and the establishment of the necessary collateral afterwards.

The deal itself was of particular complexity, as one of the participants in it was a foreign, state body, and the subject of the transaction included not one, but over 75 individual objects, of which Grand Hotel Nirvana consists. Given the lengthy nature of the operation, a strategic approach by KGK Law Firm and the Buyer was the offer of a lease agreement for the Summer 2023 season, as a result of which VP Management was able to raise additional funds while the acquisition work, negotiations with banks, municipal, state institutions and the Seller was in full swing.

KGK Law Firm advised VP Management for the acquisition of Grand Hotel Nirvana

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