Blackgarden is a boutique advisory firm with a wide network of contacts in the global investment community specializing in domestic and cross-border mergers and acquisitions, investments, business reorganizations, corporate law, and tax.
Blackgarden was founded by a group of senior executives with long experience from transactions and investments. We have significant practical experience in general corporate law matters, investments, M&A deals structuring, as well as attracting financing and financial restructuring in various sectors of the economy.

Our mission is to assist company owners and management teams in achieving a successful transition of their business. We are passionate about what we do and about helping our clients in preparing, planning, and managing complex issues through a structured process with efficiency and integrity.

Our experience and network extends to markets such as Azerbaijan, Turkey, Russia, Kazakhstan, Uzbekistan, Ukraine, Switzerland,  UK & USA. Through our local partner network we are helping individuals and businesses in the acquisition, sale and establishment of joint venture partnerships in those markets.



Emin Karimov, Managing Partner

Emin has a legal and business background combined with over a decade of experience in the investments and corporate advisory. He is an experienced business advisor with diverse experience in cross-border M&A, private equity transactions, legal and tax advisory including in corporate governance and compliance matters. Emin focuses on business sale and acquisition transactions, joint ventures and business partnerships, business reorganization, holding structuring/re-structuring, corporate law and tax as well as corporate/commercial disputes. He graduated in law from University of Minnesota Law School (USA).

He speaks Azerbaijani, Turkish, English, and Russian.

Recent major projects involved:

  • Acquisition of the 100% shares in Vodafone Ukraine PJSC from MTS (AFK Sistema).
  • Securing the LBO financing from JP Morgan and Raiffeisen Bank International for acquisition of Vodafone Ukraine PJSC.
  • Issue of the USD500mln Eurobonds (LPN) by Vodafone Ukraine PrJSC.
  • Advised the sale of 100% shares in Azercell.
  • Advisory of a leading corporate bank in its irrevocable reimbursement undertaking agreement with foreign bank (URR 725).
  • Advised an oil company on its major cross-border letter of credit arrangement with foreign counterparty under UCP 600.
  • Formation of vertically oriented holding through the corporate reorganization of the group of companies
  • Spin-off and sale of a production unit business.
  • Establishment of the Kazakhstan and Ukraine offices and production lines for the Azerbaijani oil services business through acquisition.

Reach Emin at [email protected]
Elchin Abdullayev, Partner

Elchin is a seasoned entrepreneur, investor and strategic business advisor whose experience encompasses cross-border business projects, joint ventures and private equity transactions across the US, Europe, and Middle East. Elchin focuses on strategic advisory, business reorganization, turnarounds, co-advisory engagements, M&A, sell-side and buy-side transactions as well as start-up advisory. He has vast experience with oil & gas, petrochemical, production, manufacturing and commercial real estate industries. Elchin has been servicing as an advisor to business owners and family offices on strategy, growth and business turnarounds. He graduated in business and economics from George Mason University (USA).

He speaks Azerbaijani, Turkish, English, and Russian.

Recent major projects involved:

  • Acquisition and successful turnaround of engineering firm / 10X sales and personnel growth in 3 years.
  • Formation of a management company for the diversified group of companies in Azerbaijan.
  • Advised development and management of industrial/commercial real estate project.
  • Advisory on spin-off of a major production unit into a standalone business.
  • Establishment of the Kazakhstan and Ukraine offices and production lines for the Azerbaijani oil services business through acquisition.
  • Acquisition and successful turnaround of the distressed logistics business in the USA.
  • Establishment of partnership of an oil and gas procurement business and successful exit through the share sale.
Reach Elchin at [email protected]


18 May

Venture Capital and Private Equity investment contractual tools in Azerbaijan (AZE only)

Venture Capital və Private Equity investisiya müqavilələrinin mexanizmlərinin Azərbaycanda tətbiqi
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16 Apr

Korporativ konfliktlərin həlli - Spiker Emin Kərimov

Korporativ konfliktlərin həlli - Spiker Emin Kərimov
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05 Mar

Bakcell completes purchase of Vodafone Ukraine

Azerbaijani mobile operator Bakcell – part of the Neqsol group – has completed the USD734 million takeover of Vodafone Ukraine from Russia’s Mobile TeleSystems (MTS)
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37 Khojali Avenue AZ1025, Baku
00994 (012) 408 04 74
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