DGKV advised Arco Vara AS, an Estonian real estate group listed on Nasdaq Tallinn, on the structuring and negotiation of its €6.3 million agreement to sell its remaining 75% stake in Botanica Lozen EOOD, the company developing the Botanica Lozen residential project near Sofia.

The transaction, structured as a management buyout, represents the final stage of Arco Vara’s exit from real estate development in Bulgaria after almost two decades of activity in the market. It forms part of the group’s strategy to streamline its international portfolio and focus its resources on development opportunities in Estonia.

DGKV supported Arco Vara in structuring and managing the exit transaction, advising on its legal and commercial framework, the negotiation of the transaction terms, and the coordination of the corporate, contractual and completion arrangements. The mandate involved addressing the various legal and transactional considerations arising from the disposal of Arco Vara’s remaining investment in Bulgaria.

Under the preliminary agreement announced on 29 September 2026, Arco Vara will sell its 75% stake to Kamaleo Invest OOD, which acquired the remaining 25% in May 2026. Completion is expected in Q1 2027, subject to the agreed conditions.

The DGKV team was led by Partner Kaloyan Krumov, supported by Senior Associate Peter Angov and Associate Preslava Petrova.