Speakers

Christoph Lindinger Christoph Lindinger

Christoph Lindinger has been the managing partner of Schoenherr since 2001. Under Lindinger's leadership, the Vienna-headquartered firm expanded to create a comprehensive network across Central and Southeastern Europe, with offices in 11 CEE jurisdictions joining the Bucharest office that had already been launched in 1996. In addition to his management role, Christoph Lindinger heads Schoenherr’s Dispute Resolution practice. He focuses on domestic and international arbitration proceedings conducted under the rules of the world's leading arbitration institutions (such as ICC and VIAC), with a particular emphasis on arbitration proceedings arising under bilateral investment treaties and post-M&A arbitrations.

Mark Crandall Mark Crandall

Mark co-founded Morgan Stanley’s energy business in the early 1980s. In 1993 he became a founding partner in Trafigura, an energy trading company which grew to €25 billion in sales and 1,000 employees in 58 offices worldwide. In his last several years at Trafigura he was responsible for electricity trading across Europe, which fired his interest in renewable generation technologies and deepened his understanding of the fundamentals of the power markets in Central Europe. He started CWP in 2005 by investing in Polish and Romanian wind development before eventually bringing in outside capital when CWP was officially formed in 2007.
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Gabor Orban Gabor Orban

Gabor Orban is Senior Advisor at Rothschild since September 2015 and Managing Director of ECOFIN Group Kft. Prior to that from April 2013 to July 2015 he was State Secretary for taxation and Financial Sector Regulation at the Hungarian Ministry for National Economy. At the ministry he was in charge of the ministry’s activities in the following areas: debt management, relations with financial international institutions, in particular the European Commission and EIB, preparation of legislation regulating the financial sector, macroeconomic analysis and forecasting, tax legislation, tax rulings, tax administration and fighting tax evasion, supervision of the national tax authority, and accounting. He was the chief negotiator of an intergovernmental loan arrangements related to a major infrastructure project, and several EIB loan agreements. He negotiated the Memorandum of Understanding between the EBRD and the Government of Hungary on the future of the Hungarian banking sector. He also participated in the creation of the Banking Union and several sovereign bond issues, including an exchangeable bond.
Gabor is founding Chairman of the Board of Bank Resolution Fund in Hungary, which was set up following the transposition of the EU’s Bank Resolution and Recovery Directive (BRRD) into Hungarian legislation. He is also Member of the Board of the Deposit Guarantee Fund in Hungary. He participated in several depositor compensation procedures following bank failures and financing of DGF following its depletion in 2015.
From May 2013 to May 2014 he was member of the Supervisory Board of the National Bank in Hungary.
From October 2007 to March 2013 Gabor was Head of the Fixed Income Desk at AEGON CEE Asset Management where he was in charge of the team that managed the fixed income investments of Aegon Group and their clients in Hungary, Slovakia, Czech Republic, Poland and Romania. Prior to that he was Senior Economist at the National Bank of Hungary and Economist at the European Central Bank in Frankfurt in External Developments Division, Global Economy Section.
Gabor holds a diploma in Finance and in Economy Policy from the Budapest University of Economic Sciences and Public Administration.

Klaus Imhof Klaus Imhof

Klaus Imhof is a Managing Director within RBI heading the M&A activities in Vienna. He has more than 15 years of M&A experience in numerous sell- and buy-side mandates in the consumer and pharma sector, as well as a long corporate finance and consulting experience.
Prior to joining RBI in 2002, Klaus spent more than 3 years at Ernst & Young Vienna , where he was a project manager within Austria and CEE focusing on FI-post merger integration. He has lead the closing of more than 10 deals in the last few years, including one of the largest transactions on the Balkans market, such as the Delta Maxi acquisition of Delhaize Group in 2011 and the sale of Knjaz Milos and Bambi Banat in Serbia, both completed in 2015.
Klaus holds a PHD in Business Administration from University of Economics and Business Administration in Vienna and has successfully completed a post-graduate Master in Finance at Bocconi SDA in Milan.
Klaus likes to spend time with his family as well as to play tennis and biking in his leisure time. He also loves hiking in the summer and skiing in the winter.















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Bill Fawkner-Corbett Bill Fawkner-Corbett

Bill has over 20 years' experience of deal making in the CEE region, both as an investor and as an advisor. Although based in CEE Equity’s office in Warsaw, he spends much of his time travelling in CEE / SEE.  
He joined CEE Equity in October 2013, and was initially responsible for 15 of the Fund’s 16 countries. He initiated and started the execution of the Fund’s first investment outside Poland – the partial buy-out of Hungary’s leading private university in December 2014. 
More recently he initiated and led the execution team in CEE Equity’s co-investment with Black Peak Capital into Walltopia, the world leader in the manufacture and installation of indoor climbing walls, which completed at the end of August 2015. CEE Equity is both pleased and excited to have made an investment into this fast growing Bulgarian company. 
His area of responsibility is now (slightly) more manageable - Czech, Slovakia, Bulgaria, Romania and all of former Yugoslavia. 










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Ivailo Gospodinov Ivailo Gospodinov

Ivailo Gospodinov is a managing partner at BlackPeak Capital, one of the selected fund managers by the European Investment Fund (EIF), which will manage a co-investment venture capital fund under the JEREMIE initiative. The Fund, already operating with an initial capital of 10 million euros, focuses on investing in small and medium enterprises.
Previously, Mr. Gospodinov was Managing partner of Entrea Capital. He has more than 10 years of M&A experience in numerous sell- and buy-side mandates, as well as a long corporate finance and audit experience.
Prior to joining Entrea Capital in 2013, Ivailo spent more than 8 years of M&A experience in Raiffeisen Investment, where he was a Managing Director for Bulgaria. There, he has been involved in a number of transactions, advising both large corporates and financial investors. He has lead the closing of more than 10 deals in the last few years, including one of the largest transactions on the Bulgarian market, such as the €1.1bn AIG acquisition of BTC from Novator in 2007 and the €230m Contour Global acquisition of TPP Maritsa East III from Enel.
Prior to that he was also a Director of Corporate Finance at Forem Consulting, where he was actively involved in a variety of sell and buy side mandates, as well as privatisations. Ivailo also spent 9 years at Andersen and E&Y as an Audit Manager leading the audits of a range of large companies.
Ivailo holds a BA in Business Administration from Portsmouth University and has successfully completed all ACCA exams.
Ivailo likes to play football and volleyball in his leisure time. He also loves hiking in the summer and skiing in the winter.

Dimitar Kostadinov Dimitar Kostadinov

Dimitar Kostadinov is a Managing Partner at Entrea Capital. Dimitar joined the firm in 2008 and has been instrumental for its development as the leading independent investment banking service provider in Bulgaria. He successfully executed multiple fundraising, debt restructuring and M&A transactions with a focus on the FMCG and industrials sectors.
Prior to joining Entrea Capital, Dimitar Kostadinov served as the executive director, head of clients, and a member of the management team at ING Bank, Bulgaria. Dimitar was responsible for ING’s portfolio of corporate clients, strategic positioning, and all aspects of business origination and relationship management in the country. During his tenure at ING, Dimitar led the overall development of structured finance and corporate banking operations in the country through leveraging ING’s international product expertise.
In 2004, upon returning to Bulgaria, Dimitar acted as the financial and economic advisor to the country’s Deputy Prime Minister and Minister of Transport and Communications, advising him on policy issues in the transportation, infrastructure, and telecommunications sectors. Dimitar managed senior staff in the restructuring and strengthening of key state-owned enterprises in the telecommunications and marine transport sectors.
From 2001 to 2004, Dimitar was an equity research analyst at UBS Investment Banking, initially in Tokyo, Japan, and subsequently in London, the UK. At UBS, Dimitar covered the Consumer Goods and TMT sectors. While at UBS London, Dimitar published research reports and recommended investment strategies with a focus on the European FMCG sector. He liaised with companies’ senior management to discuss financial results and corporate strategic positioning. While as UBS Tokyo, Dimitar researched Japanese media stocks with a focus on advertising, broadcasting, and satellite sectors. He also helped develop the bank’s proprietary trading desk and worked on the IPO of Dentsu, the largest Japanese advertising agency.
Dimitar started his financial career with Salomon Smith Barney in the US where he developed and implemented equity and mutual funds investment strategies for high-net-worth investors.
Dimitar holds an MBA degree in International Finance from Brandeis University and a BA degree in Business Administration from the American University in Bulgaria (AUBG).

Ivaylo Spasov Ivaylo Spasov

Ivaylo Spasov co-founded Entrea Capital in 2007 and has subsequently established it as the leading independent Bulgarian investment banking firm. Ivaylo has more than 10 years of experience in numerous sell- and buy-side mandates, as well as privatization transactions.
Prior to co-founding Entrea Capital, Ivaylo was a Senior Manager at Ernst & Young, where he was a member of the transaction advisory services team. Ivaylo had started his carrier as an auditor at Arthur Andersen. During that time, Ivaylo worked on numerous audit engagements with high profile clients, including MTEL and Socotab, as well as with many TMT and industrial companies.
Ivaylo’s area of expertise and experience includes transaction support services, valuation services, M&A advice, financial analysis, investment appraisals, restructuring and privatizations. He has extensive experience in a large number of buy-side and sell-side due diligence and valuation processes across various industries, including manufacturing, construction, financial services, energy and utilities, telecommunications, power generation and distribution, food and drink, etc.
Ivaylo holds an MA degree in International Economic Relations from the University of National and World Economy in Bulgaria.

















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Ilko Stoyanov Ilko Stoyanov

Ilko Stoyanov is a local partner of Schoenherr in Sofia, where he specialises in Corporate, M&A and Competition Law.
Ilko has graduated in law from the Sofia University and has an LL.M. degree from the Columbia Law School.
Ilko regularly acts for clients on multinational acquisitions and corporate restructurings in the telecom, technology, insurance, manufacturing and energy industries. Ilko is speaker on conferences regarding foreign investments and author of publications in the field of the mergers and acquisitions in Bulgaria (The International Comparative Legal Guide to: Mergers & Acquisition (Global Legal Group, 2008, 2009, 2010, 2011).


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Ilian Grigorov Ilian Grigorov

Co-founder and Managing Director of City Clinic He is an executive with 14 years of experience in private equity and M&A advisory. Ilian has led Bedminster Capital (formerly Soros Investment Capital) office in Bulgaria for 8 years. He has experience in investing in various industries including cable, media and healthcare. Ilian has held directorship positions in Eurocom Cable, Digital City Media, Golden Pages, United Medical and United Health Insurance. From 2009 until leaving Bedminster, Ilian was Co-CEO of United Medical, the first private integrated healthcare provider in Bulgaria. Prior to Bedminster, Ilian worked for KPMG in Bulgaria BDO in the Netherlands. Ilian graduated from University of National and World Economy with a Master in Economics and Finance and University of Amsterdam with Master in International Finance. Currently, he is completing an Executive Master in Healthcare Administration at the University of Minnesota.

Todor Todorov Todor Todorov

Todor Todorov is Director Financial Advisory at Deloitte Bulgaria. 
Todor started his career as an investment banker in the New York office of J.P. Morgan in the M&A department of the bank. Four years later he co-founded a small hedge fund investing in U.S. equities and derivative products.
Over the last 7 years Todor has been advising Bulgarian companies and locally present multinationals in business combinations, capital raising and restructuring projects. Todor is currently part of the financial advisory team in Deloitte Central Europe and is responsible for the M&A advisory business in Bulgaria.
In his career Todor contributed to the successful execution of transactions with an aggregate value in excess of €4bln.








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Diana Nikolaeva Diana Nikolaeva

Diana Nikolaeva is a Managing Partner of EY Bulgaria, stationed in Sofia. She has a Master’s degree in International Economic Relations. She has attended the Pew Economic Freedom Fellows Programme, a leadership programme of Georgetown University, Washington D.C. (USA). Diana is a Board member of the Chamber of the Professional Valuers in Bulgaria. She is a member of the CFA Institute (USA) and a CFA Charter holder. She is also a licensed appraiser.
Diana Nikolaeva is leading the Transaction Advisory Services offering and she has been involved in the largest corporate transactions in Bulgaria. She has also advised governments and institutions related to macro-economic analysis, privatization and M&A since early 1990.
Her leadership experience includes numerous projects in Bulgaria and other CSE countries related to business valuation, corporate management, financial analysis and investments consulting, restructuring and financial due diligence services.
Diana has been ahead of the teams involved in transaction support engagements and valuation projects for major international and Bulgarian pharmaceutical companies in relation to acquisitions of distributors, wholesalers, retailers and chain of pharmacies in Bulgaria.
Diana is the Quality & Risk Management leader for EY practice in 21 CSE countries in EY.

Julian Gikov Julian Gikov

Julian Gikov is CEO of Raiffeisen Investment (Bulgaria) and M&A Director responsible for SEE region, where he has been involved in deal advisory for the last 8 years. He has consulted on numerous large international M&A transactions – many of those jointly executed with Lazard. He has extensive investment banking experience in the energy, telecommunications, heavy industry, consumer goods, retail, agriculture, ТМТ, RE and other sectors. In 2011, Julian Gikov received "Best M&A Deal in CEE" prize awarded to Raiffeisen Investment by the international EMEA Finance magazine for consulting a EUR 545 million deal in the energy sector in Bulgaria.
Prior to that, as part of KPMG’s Financial Services team, Julian has worked on assurance and corporate finance projects including audit, due diligence, IPOs and securitizations in various industries with focus on financial institutions. Julian has previous experience at UBS, London - Investment Banking and Fixed Income divisions and as well as at Ernst & Young, Stuttgart - Corporate Finance Dpt. where he was involved in M&A, squeeze-out transactions and enterprise valuations. He also had internship at Bloomberg, London. 
Mr. Gikov is PhD in Economics. He is MBA from SIU in Germany and USA, and holds a Bachelor in Financial Management & Accounting from The Buckingham University in the UK. He has also specialised in Banking at LSE, London.



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Evgeny Angelov Evgeny Angelov

Evgeny Angelov has been an Economic Advisor to the President of the Republic of Bulgaria since January 2012. His efforts are directed at raising the competitiveness of Bulgarian companies, promoting energy efficiency, strengthening the innovation ecosystem and improving the business environment.
From the summer of 2009 until the end of 2011, Mr. Angelov held the position of Deputy Minister of Economy, Energy and Tourism. He was responsible for economic, investment and innovation policy formulation and implementation; supervision of over fifty state-owned companies; and the governance of the €1.2bn Operational Programme "Competitiveness". During this time, he served as the Chairman of the Board of both the Bulgarian Energy Holding and the National Electricity Company. Concurrently, he was the Head of the Investment Board of JEREMIE Bulgaria, a €350mm Holding Fund, which provides equity and debt financing to start-ups and SME's. Between 2011 and 2014, he was Bulgaria's SME Envoy to the European Commission.
Between 2005 and 2008, he was Director at Trigranit Development Corporation, a leading real estate development company in Central and Eastern Europe. From 1995 to 2003, Mr. Angelov held various positions at the European Bank for Reconstruction and Development, where he structured, negotiated and executed debt and equity transactions in the financial services, pharmaceutical, cement, real estate and chemical industries in ten Central and Eastern European countries.
Evgeny Angelov holds an MBA degree from Harvard Business School and a BA degree from London Guildhall University.

Elvin Guri Elvin Guri

Mr. Elvin Guri is an investor and entrepreneur with a successful track record in financial services. He is currently CEO of River Styxx Capital, an investment and advisory firm. In addition, Mr. Guri is the CEO of Empower Capital Advisor, which will manage the 15 mln. euro co-investment fund as part of the Jeremie programme. He started his career as Auditor at Price Waterhouse in Sofia. Starting from October 1996, he spent more than five years with the European Bank for Reconstruction and Development (EBRD), both in London and in Sofia.  Mr. Guri co-founded JetFinance International (JetFinance), a consumer finance institution, in 2001-2002. Post JetFinance, Mr. Guri has been involved, as an investor and as a mentor, in financial services and in technology ventures.







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Todor Breshkov Todor Breshkov

Todor is a managing partner at LAUNCHub (Launch hub), a EUR 9M seed & acceleration fund, focused on investing in bright entrepreneurs from Bulgaria and the region with ideas mainly in the ICT sector. The investments of the fund range from EUR 25K to 200K per company and is supported by a mentor-led program.
Todor has a substantial banking experience and his professional expertise varies within the areas of Business Management, Finance, Business Development, VC and entrepreneurship.
Mr.Breshkov is a founder and Chairman of the Board of Bulgarian Real Estate Fund (BREF), the largest listed real estate fund.He has been a Managing Director of one of the largest brokerage and corporate finance boutiques in Bulgaria – First Financial Brokerage House (2001 – 2009) and also a Member of the Board of Directors of the Bulgarian Stock Exchange (2003 – 2009).Todor was a Member of Supervisory Board (2003 – 2011) and member of the Audit committee of First Investment Bank, the 5th largest Bulgaria Bank.
Todor holds a Masters degree in Organizational Development and Bachelor degree of Business Administration from St. Kliment Ohridski University in Sofia, Bulgaria. He also holds a brokerage certificate WMBA from London.

Valeri Petrov Valeri Petrov

Valeri Petrov is Partner at Axxess Capital.
Previously, he was partner at Bancroft Private Equity covering the company’s activities on the Balkans. Before joining Bancroft he was Investment Director with the private equity firm Global Finance, running the company’s activities in Bulgaria. Valeri led and co-led many transactions in different countries across the SEE region.
Prior to moving to the Private Equity industry Valeri was running the biggest paints& coatings company in Bulgaria (backed by private equity funds) as CEO where he did a complete turnaround bringing the company up to high profit levels and increasing its market capitalization almost ten times.
Valeri also worked for the Royal Dutch/Shell, and held various positions within the organisation.
Valeri holds an MSc in Engineering from the Technical University of Sofia. He also attended Management Academy in London and ETP on Business Management in Delaware University, Sofia branch.