14 03 2016Beijing Enterprises acquires EEW Energy
Mayer Brown, Clifford Chance and P+P P√∂llath have advised on the deal
Chinese company Beijing Enterprises acquired EEW Energy from Waste group, headquartered in Helmstedt in Lower Saxony, from Swedish private equity investor EQT. At almost EUR 1.44 billion, it is thus far the largest direct investment by a Chinese company in Germany. EQT acquired 51% of EEW Energy from Waste through E.on at the beginning of 2013 and took over the remaining shares last summer. The transaction requires a so-called clearance certificate of the German Federal Ministry of Economics.
With over 1,000 employees, EEW is one of the largest specialized suppliers in the generation of power and heat from thermal recycling and waste disposal in Germany. The company's 18 facilities in Germany, the Netherlands and Luxembourg can turn about 4.7 million tons of waste per year into electricity, industrial steam or district heating. The company's turnover in 2014 was approx. EUR 539 million.
The purchaser, Beijing Enterprises Holdings, is listed on the Hong Kong stock exchange and is interested in acquiring international know-how and new technology.
Mayer Brown has advised Beijing Enterprises with a team including¬† Klaus Riehmer (Picture), Chester Wong,¬† Ulrike Binder (M&A), Jan Kraayvanger (Dispute Resolution), Andreas Lange, Markus Strelow (Banking & Finance),¬† Jens Schmidt (Antitrust), Volker Junge (M&A), Jan Streer,¬† Marius Boewe, (M&A), Andreas Hilfrich (Real Estate), Malte Richter (M&A), Isabelle van Sambeck (Employment), Christiane M√ľhe (Banking & Finance), Konstantin von Werder, Ana Bruder¬†(IP&IT), Philipp Berrsche (Real Estate), S√∂ren Pru√ü, Stefanie Skoruppa, Tina Hoffmann (M&A), Marco Maurer, J√∂rg Salzmann (Employment), Edward Lau (Capital Markets).
Clifford Chance has advised EQT with a team led by Markus Muhs, Frederik M√ľhl, Kerstin Kopp, Joachim Hasselbach (M&A),¬† Bj√∂rn Heinlein (Energy), Taner Hassan (Banking & Finance), Barbara Mayer-Trautmann (Banking & Finance), Stefan Simon (Employment), David Elshorst (Real Estate), Marc Besen (Antitrust), Wenzel Richter, Caroline Lutz, Susanne Werry, Ayleen Hermann, Paul Bock, Christian Nordholtz (M&A),¬†Nicholas Kinnersley¬†(Banking & Finance), Matthias T√∂ke, Cristian Cranmore (Banking & Finance), Martin Weitenberg, Lukas Ernst (M&A)
P+P P√∂llath + Partners advised EQT with regard to the existing management participation model with Benedikt Hohaus (Executive Compensation), Barbara Koch-Schulte (tax), Lorena Joana Echarri (Executive Compensation) and Julian Winkler (Executive Compensation). Involved fees earner: Benedikt Hohaus - P+P P√∂llath + Partners; Lorena Joana Echarri - P+P P√∂llath + Partners; Julian Winkler - P+P P√∂llath + Partners; Barbara Koch-Schulte - P+P P√∂llath + Partners;
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