Veolia Environment, global leading supplier of environmental services, which is listed on the NYSE and Euronext Paris, has acquired the German SULO group from Blackstone and Apax Partners. Veolia Environment was advised on the tax aspects of this transaction by a Franco-German team of lawyers from CMS Bureau Francis Lefebvre and CMS Hasche Sigle headed by partners Edouard Milhac (CMS Bureau Francis Lefebvre) and Dr Heino Büsching (CMS Hasche Sigle). The acquisition, for an enterprise value of €1,450 million (including financial debt), remains subject to the approval of the antitrust authorities.
Veolia Environnement is the world leader in environmental solutions. With more than 300,000 employees, the company operates in its business activities the world over. It provides tailor-made solutions to meet the needs of industrial and public authority clients in four complementary segments: water management, waste management, energy management and passenger transportation. With annual revenue of around €1.3 billion in 2006, Sulo is the second largest waste management operator in Germany. Sulo is the market leader in the collection of municipal waste and packaging (“Duales System�?). The company is also a specialist in paper and plastics recycling and has high-level expertise in sorting and organic recovery. It holds strong market positions in Eastern Europe and the Baltic states. Sulo employs 7,700 people, including 6,300 employees in Germany.
In addition to the acquired positions in Germany, Veolia Environmental Services strengthens its role in the materials recovery and recycling businesses in Europe. Furthermore, this transaction strengthens Veolia Environmental Services' presence in the high-growth markets of Eastern Europe and the Baltic states.
Advisors Veolia Environment (Tax)
CMS Hasche Sigle:
Dr Heino Büsching, Partner, Hamburg (Tax)
Dr Björn Demuth, Partner, Stuttgart (Tax)
Dr Justus Westerburg, Associate, Hamburg (Tax)
Dr Alexander Hille, Associate, Hamburg (Tax)
Alexandra Müller, Associate, Frankfurt/Main (Tax)
CMS GmbH Steuerberatungsgesellschaft:
Hans-Hermann Bühl, Gesellschafter (Tax)
René Dachner (Tax)
CMS Bureau Francis Lefebvre:
Edouard Milhac, Partner (Tax)
Tiaré Muller, Associate (Tax)
Contact CMS Hasche Sigle:
Dr Heino Büsching
Tel.: +49 (0) 40 / 37630-260
E-Mail: Heino.Buesching@cms-hs.com
CMS Hasche Sigle is one of the leading German law firms with more than 480 lawyers. It covers the entire area of commercial law and provides legal advice to major German and international companies from a wide spectrum of industry. It has offices in Berlin, Cologne, Duesseldorf, Frankfurt, Hamburg, Leipzig, Munich, Stuttgart, Chemnitz, Dresden, Brussels, Belgrade, Moscow and Shanghai.
CMS Hasche Sigle is a partnership of lawyers and tax consultants; for register details / list of partners see www.cms-hs.com.
CMS Hasche Sigle is a member of CMS, an alliance of leading independent European law firms. With over 595 partners, a total of 2,000 lawyers and tax consultants and around 4,200 support staff we advise our clients at commercial locations in 48 business centres in Europe and further afield on legal and tax issues.
In addition to CMS Hasche Sigle, the following firms are also members of the CMS alliance: CMS Adonnino Ascoli & Cavasola Scamoni (Italy), CMS Albiñana & Suárez de Lezo (Spain), CMS Bureau Francis Lefebvre (France), CMS Cameron McKenna LLP (Great Britain), CMS DeBacker (Belgium), CMS Derks Star Busmann (the Netherlands), CMS von Erlach Henrici (Switzerland) and CMS Reich-Rohrwig Hainz (Austria). CMS has 58 offices in 25 countries around the world.
For further information on CMS Hasche Sigle see www.cms-hs.com and on the CMS alliance see http://www.cmslegal.com.
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