Kinstellar announces new promotions to Partner and Counsel

March 2022 – Kinstellar is delighted to announce the promotions to Partner of Nina Tsifudina (Sofia) and to Counsel of Atanas Mihaylov (Sofia).


Nina Tsifudina, Sofia

Nina has over 14 years of experience advising on large international transactions. She is counsel to local and multinational companies on a wide range of commercial matters and cross-border deals, reorganisations and market-entry strategies, with a focus on the TMT, pharma and financial services sectors. She also represents private equity and venture capital firms on acquisitions, disposals and restructurings, as well as portfolio companies on all corporate matters.

Nina is highly experienced in all employment aspects of multi-jurisdictional transactions and often takes the lead in high-profile TUPE transactions, share sales and outsourcing/offshoring arrangements of her clients. Her expertise extends to labour regulations, restructurings, senior executive severance, complex contentious matters, harassment and discrimination claims.

Nina’s recent experience includes advising:

  • KBC BANK on its EUR 1,025 million acquisition of Raiffeisenbank Bulgaria, the largest-ever banking transaction in the country, as well as on its EUR 77.7 million acquisition of NN’s Bulgarian pension insurance and life insurance businesses.
  • THREDUP, one of the largest online fashion resale platforms, on the acquisition of its European peer Remix Global for approx. USD 28.5 million—an elaborate transaction resulting from the complex shareholding structure of the target.
  • GTT COMMUNICATIONS, a multinational telecoms and tier-1 network provider, on the USD 2.15 billion sale of its infrastructure business to I Squared Capital. Nina coordinated the pre-closing carve out of the infrastructure business across Bulgaria, the Czech Republic, Hungary, Romania, Slovakia, Serbia and Ukraine.
  • FORSTA, an EQT portfolio company, on various M&A and employment matters in Bulgaria, including the merger with Verdane portfolio company Confirmit AS (Norway).
  • HCL TECHNOLOGIES, an Indian IT services company, on Bulgarian labour law matters, including negotiations and consultations with trade unions.

Nina joined Kinstellar as a Senior Associate at our launch in Sofia in 2014. She became Counsel in 2021. Nina is regularly praised by clients and peers in legal directories. In the recent edition of Chambers Europe, clients describe her as ‘‘responsive and detail-oriented‘‘, and one impressed client praises her flexibility, adding that: ‘‘She reacts quickly‘‘.


Atanas Mihaylov, Sofia

Atanas has more than 18 years of experience as a senior legal and tax advisor on some of the country’s most notable infrastructure and real estate development projects as well as M&A transactions.

He has advised infrastructure clients and international real estate developers on all aspects of their projects, including land acquisition, zoning, planning, engineering, procurement and construction, permitting, operational agreements, project finance and regulatory matters. Atanas’ tax expertise includes advising on the tax aspects of acquisitions and disposals of assets and/or business. He has also successfully defended clients in high-profile court disputes with the Bulgarian tax authorities. In the area of corporate law, his experience encompasses M&A, joint ventures and restructurings, including regulatory and tax aspects of share-purchase agreements, corporate reorganisations and joint ventures. In his work he has also advised insurers in structuring W&I insurance policy terms. Atanas has also successfully advised clients on commercial litigation and arbitration matters.

His recent experience includes advising:

  • CTP, a leading CEE industrial real estate developer, on several acquisitions of land plots and buildings in Bulgaria, including the acquisition of the production facility of tier-1 automotive supplier Willie Elbe and the logistics facility of DSV Road, both implemented through sale-and-leaseback agreements.
  • PARK LANE DEVELOPMENTS on the sale of a Class A office building to the software company SAP, the largest office sale in Bulgaria in 2021.
  • ALLIANZ BULGARIA on the lease agreement between Allianz and Park Lane Developments for the lease of office space (6,000 sq. m.) in Park Lane Office Center following a built-to-suit concept – the largest office property deal on the Bulgarian market in 2020.
  • KIN + CARTA on the Bulgarian tax aspects of its acquisition of Melon Group, a digital transformation consulting firm, for EUR 23.5 million.
  • THREDUP, one of the largest online fashion resale platforms, on the tax aspects of the acquisition of its European peer Remix Global for approx. USD 28.5 million, and in particular on the share considerations from a tax perspective as part of the transaction structuring.
  • GTC, a leading commercial real estate developer, on all real estate aspects of the acquisition of land for the expansion of its office buildings near Business Park Sofia. Atanas also advised on GTC’s long-term lease arrangements with two landmark tenants, the World Bank and Commerzbank.

Atanas joined Kinstellar as a Managing Associate in 2020. Prior to joining Kinstellar, he worked for leading international law firms and at Ernst & Young Bulgaria. He has been ranked in Chambers Europe for nine years in a row. Clients praise him as ‘‘a skilled professional with a long-term approach to every case’’ (Legal 500, 2021) and ‘‘highly efficient, diligent, and always focused on finding solutions‘‘ (Chambers Europe, 2022).

Patrik Bolf, Firm Managing Partner comments: ''I congratulate them on this achievement and thank them for their hard work and contribution to the firm!  Both are truly stellar individuals who have consistently demonstrated the highest levels of client service, exceptional skills in winning and managing transactions, dedication, teamwork and commitment to our values. We look forward to their contribution going forward, and we wish them success in their new leadership roles!’’

For more information please contact Adela Ene, at .

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