Stoil Hristov advices and represents a broad range of domestic and multinational clients in connection with their business activities in Bulgaria, helping them to realize their investment objectives.

Stoil has a successful track record of delivering valuable advice to investors in the Real Estate and Construction industry. He advises developers, banks, investment funds and construction companies through the different stages of various projects, including their corporate structuring, acquisition, financing, development, leasing, management and operation.

Stoil has an extensive experience in handling Banking and Finance transactions. He advises on the different aspects of the structuring, negotiation and documentation of finance-related deals, acquisitions and restructurings. Clients value the clear advice Stoil offers in difficult situations.

Stoil Hristov also advises clients on a wide array of general Corporate, Commercial, Tax, Capital Markets and Securities-related matters.

Stoil is an Arbitrator at the Arbitration court of the German-Bulgarian Chamber of Industry and Commerce.

Notable clients Stoil has advised include Lidl, Porr, Alpine, Areva, Bloomberg, Standard and Poor’s, Decathlon, Eurocopter, Jordan Intentional Bank and Alpha Bank.

Stoil Hristov joined Arsov Natchev Ganeva in 2003 and was admitted as a partner in 2006.



Bulgarian Bar Association
International Bar Association

Arbitrator at the Arbitration court of the German-Bulgarian Chamber of Industry and Commerce

Qualification and education

University of Sofia, Faculty of law (2001);
Pallas Consortium, The Netherlands, LL.M in European Business Law - joint degree of the law faculties of eight leading European universities, (Achievement scholarship, 2003);
Korte Dierkes Künnemann - Law firm, Germany, Secondment (2005);
Amsterdam-Leiden-Columbia Summer Program in American Law, Amsterdam, the Netherlands (Scholarship 2003);
Nijmegen University, the Netherlands (Certificate in E-Commerce law, 2003);
King’s College, London, United Kingdom, (Certificate in  European Community Law, 2001);



  • For the last 10 year Stoil Hristov is playing a key role in the provision of comprehensive legal advice to the German supermarket chain Lidl with respect to its business activities in Bulgaria, including the successful acquisition and construction of more than 80 supermarkets and two logistic warehouses. Lidl ranks among the biggest green field investors in the country;
  • He counsels the Austrian construction company Porr in relation to two large scale construction projects and contracts concluded between Porr Bau and the National Railway Infrastructure Company (NRIC). The projects include rehabilitation, construction and engineering works for modernization of part of the railway system in Bulgaria. 
  • In the course of the recent decade Stoil Hristov advises Bloomberg on commercial, tax and other deriving regulatory matters in connection with the Bloomberg’s electronic trading platforms for securities and other financial instruments in Bulgaria.
  • He counseled the Austrian construction company Alpine Bau on various matters related to the construction of the hydro power project Tsankov Kamak. The project included the construction of a dam lake and a hydro power plant.
  • Stoil Hristov advised the Greek Alpha Bank on the legal available legal instruments for restructuring of a large debt exposition of the bank towards a major construction company.
  • Stoil advised the German investment company Parabel in the acquisition and development of ten photovoltaic power plants in Bulgaria.
  • Stoil Hristov took an active role in team that represented the EADS’ subsidiary company Eurocopter in the public procurement award and the negotiations for the purchase of 12 new helicopters for the needs of the Bulgarian Air Forces and Navy. Stoil is a co-author of the first Offset Agreement ever executed in Bulgaria.
  • Stoil counseled the London based Jordan International Bank on matters related to the securitization of the financing extended by the bank for the realization of an industrial project for the construction of a waste recycling factory and on a later stage on the direct share participation of the bank in the project company.
  • He counseled the Privatization and Post-privatization Agency on dispute settlement matters related to the sale of the state share’s participation in one of the major electricity distribution company in Bulgaria to the Czech owned - CEZ;
  • Stoil Hristov counseled the French nuclear equipment manufacturer Areva on finance and tax matters in relation to its participation as a subcontractor of the main contractor selected to construct the nuclear power plant Belene.
  • He advised the French chain sport goods Decathlon in the course of its expansion on the Bulgarian market.
  • Stoil represented the investment fund operating the brand Bricolage in the country in negotiation rounds with Sofia Ring Mal;
  • Stoil advised the Austrian construction company Alpine Bau on legal matters in relation to the company’s participation in the hydro power plant project Gorna Arda through setting up a joint venture company with the National Electric Company, EVN and the Turkish Ceylan Holding.
  • He represented the United Kingdom’s real estate investment fund DCM (Development Capital Management Bulgaria); 
  • Stoil Hristov represented the Bulgarian Energy Holding (BEH) on matters related to the BEH’s participation in the project company ICGB (Interconnector Greece-Bulgaria). ICGB is a natural gas pipeline interconnector between Bulgaria and Greece. The other shareholders in ICGB are the Greek company DEPA and the Italian company Edison.
  • He counseled the German supermarket chain Lidl in the process of establishing of securities / negotiations (mortgages over more than 50 properties) under separate loan agreements concluded with the World Bank and EBRD.  
  • Stoil Hristov negotiated on behalf of Bulgarian Property Investment Trust for the restructuring of mezzanine financing extended by one of the investors in a residential real property project at the sea coast.


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