CMS has advised Portugal's MGI Capital on the sale of Bezmer Energy to Philicon-97.
Bezmer Energy is a Bulgarian company operating a four-megawatt photovoltaic project. According to CMS, the project was put into operation in 2010 and "enjoys a 25-year feed-in tariff since 2010, which was transformed to a contract for premium in 2016."
Philicon-97 is a Bulgarian food company with a 70-year history, producing fruit and vegetable canned products, juices, nectars, and drinks.
Last year, CMS successfully represented Bezmer Energy in a dispute against the Ministry of Finance of the Republic of Bulgaria involving the country's feed-in tariff (as reported by CEE Legal Matters on January 7, 2021).
The CMS team included Partners Assen Georgiev and Atanas Bangachev, Counsel Veliko Savov, Senior Associate Iveta Manolova, and Associate Elena Yotova-Yordanova.