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Clifford Chance Advises on Refinancing and Recapitalization of KKCG Group's Technology Pillar

Clifford Chance Advises on Refinancing and Recapitalization of KKCG Group's Technology Pillar

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Clifford Chance has advised KKCG Group's Technology pillar on the complete refinancing of its existing bank indebtedness and the further recapitalization of its members, including those in Bulgaria, North Macedonia, Poland, and Serbia.

The KKCG Technology pillar consists of two major brands, Aricoma and Qinshift. According to the firm, it forms the largest ICT holding in the Czech Republic, and provides a wide range of services, starting with the design of ICT architecture, through infrastructure, cybersecurity, cloud services, and the implementation of corporate applications, up to the development of custom comprehensive software solutions and outsourcing.

"The transaction formed part of the company’s complex strategy of development of investments, thus enabling further growth of the entire group, enhancing further cooperation with the club of major Czech banks at the same time," Clifford Chance announced.

Back in 2022, Clifford Chance had also advised KKCG's Aricoma Group on the original financing for its acquisition of Musala Soft (as reported by CEE Legal Matters on September 7, 2022).

The Clifford Chance team was led by Partner Milos Felgr and Counsel Dominik Vojta and included Prague-based Senior Lawyer Stanislav Holec and Junior Lawyers Tomas Kubala and Lukas Ljubovic.

Clifford Chance did not respond to our inquiry on the matter.

Editor's Note: After this article was published, Dentons confirmed it had advised the lenders, including CSOB and Ceska Sporitelna. The firm's team was led by Prague-based Partner Daniel Huryc and included Associates Martin Fiala and Jan Koristka; Warsaw-based Partner Bartosz Nojek, Counsel Patrycja Polasz, and Associates Dominika Krysiak-Bogdzio and Weronika Lakoma; and Bratislava-based Partner Patricia Gossanyiova, Counsels Miroslav Kapinaj and Petra Strbova, Senior Associate Richard Marcincin, and Associate David Stanek.

Boyanov & Co. advised Ceska Sporitelna – leading a syndicate of banks including Ceskoslovenska Obchodni Banka and Komercni Banka – on Bulgarian law. The firm's team was led by Partner Damian Simeonov and included Principal Associate Ralitsa Nedkova and Associate Dimitar Mihaylov.

The Andric Law Office and the Polenak Law Firm reportedly advised the lenders as well.

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