Penkov, Markov & Partners Acts as Legal Advisor to AIG Capital Partners, Inc. in the acquisition of the Bulgarian Telecommunication Company

10 September 2007

AIG Global Investment Group, through its member company AIG Capital Partners, Inc. has acquired a 90% stake in Bulgarian Telecommunications Company from Viva Ventures Holding GmbH and certain minority shareholders, following the receipt of relevant EU and other regulatory approvals. The transaction was successfully completed on August 17, 2007, on the floor of the Bulgarian Stock Exchange. The value of the transaction reached BGN 2.77 billion (approximately €1.4 billion), the largest M&A deal ever in Bulgaria and the largest deal in Eastern Europe for the year 2007. Penkov, Markov & Partners acted as a legal counsel for the buyer AIG Capital Partners, Inc. in this legally complex acquisition. Penkov, Markov & Partners continues to represent AIG Capital Partners, Inc. on other legal issues following the successful closing of the transaction.