In Bulgaria, the Directive has been implemented in Chapter XVI, new Section V of the Commercial Act (promulgated in State Gazette issue No. 48/18.06.1991, last amended, SG No. 108/19.12.2008 (the Act)). The provisions under Section V of the Act are applicable only to mergers by acquisition and mergers by formation of a new company, where at least one of the companies involved has its registered office in another EU or EEA member state and is of a company type specified in Art. 1 of the 1st Council Directive (68/151/EEC). A Bulgarian company involved in a cross-border merger may be either a limited liability company (), a stock corporation () or a partnership limited by shares (). Under the Act, a merger by acquisition or merger by formation of a new company is called a „transformation of companies“ and the companies involved are „transforming companies“.
