DGKV advised DOHLE Trading Group Holding LLC & Co. LP, the German founder and operator of HIT hypermarkets with annual turnover of EUR 1.45 billion, in relation to the divestment of their local subsidiary.
The signing of definitive binding transaction documents took place in June 2019 as the completion of the transaction is subject to approval of the Bulgarian competition watchdog. In addition to assistance in the extensive commercial negotiations, DGKV was also responsible for the structuring advice, vendor due diligence exercise and preparation of transaction documents on the seller’s side. The team was led by Partner Zdravka Ugrinova and comprised of Partner Viara Todorova, Senior Associates Kaloyan Krumov, Vladislav Antonov and Kamen Gogov, and Associates Martin Dimitrov, Elena Shopova, Dessislava Ivanova, and Peter Angov.
The German company specializes in retail with consumer goods and rent of commercial properties. It entered the Bulgarian market with the opening of shop in r.d. Mladost, Sofia, in 2004, and a second one – a year later in Lyulin, Sofia. The divestment shall have an impact on two local markets in the country: retail with consumer goods (both food and non-food) and rental of commercial property.