On December 20, 2022, PPG Lawyers announced that KKCG's and Aricoma Group International’s acquisition of Musala Soft (reported by CEE Legal Matters on August 22, 2022) had closed.
PPG Lawyers and Nedelka Kubac Advokati advised Aricoma Group International on the merger control and regulatory approval process for its acquisition of Bulgarian software company Musala Soft and its subsidiaries. The Bulgarian Commission for the Protection of Competition issued its approval decision on November 1, 2022.
As previously reported, Schoenherr advised the KKCG Group and its portfolio company Aricoma Group International on the acquisition of Musala Soft and subsidiaries. CMS reportedly advised the sellers.
The Aricoma Group is a Central European IT services provider with a presence in Scandinavia. Musala Soft is a software engineering services provider.
The PPG Lawyers team was led by Partner Mariya Papazova.
The Nedelka Kubac Advokati team was led by Partner Radovan Kubac and Junior Associate Ondrej Cizek.
Schoenherr’s team included Bulgaria-based Partners Ilko Stoyanov and Stefana Tsekova, Attorneys at Law Katerina Kaloyanova-Toshkova, Ivelina Vasileva, and Ventsislav Tomov, and Associate Gergana Roussinova-Ivanova as well as North Macedonia-based Partner Andrea Radonjanin, Attorney at Law Andrea Lazarevska, and Associates Magdalena Petreska, Martin Ivanov, and Sofijana Markovska.