Browne Jacobson advise environmental giant Suez on its £2bn international acquisition of former waste management business
Browne Jacobson’s lawyers have advised Suez SA and its shareholders on its acquisition of its former UK waste management business – Suez R&R UK - from French headquartered business Veolia for an enterprise value of £2 billion.
Browne Jacobson’s lawyers have advised Suez SA and its shareholders on its acquisition of its former UK waste management business – Suez R&R UK - from French headquartered business Veolia for an enterprise value of £2 billion.
Suez R&R UK is one of the largest recycling and recovery companies in the UK with a portfolio of more than 25,000 industrial and municipal customers, employing over 6,000 people and generating turnover in excess of £900 million. It specialises in delivering innovative and environmentally responsible solutions to manage waste and water to its broad customer base comprising, households, local authorities, and industry and commerce.
The deal which is still subject to required regulatory approvals will strengthen Suez’s waste management strategic plans including broadening its UK and international offering and expanding its global operation.
The large multi-disciplined Browne Jacobson advisory team, which gave advice on the diligence aspects of the transaction, was led by partner Paul Hill, who leads the firm’s Energy & Infrastructure practice with assistance from senior associates Kirk Glenn and Clare Hanna.
Paul Hill said of the transaction: “It has been a pleasure to support our client Suez in this significant transaction to re-purchase its former waste management operation in the UK.
“As it did before, the UK operation will thrive in the wider Suez group and the acquisition represents a major step in implementing the Group’s strategy and furthering its international growth ambitions.
“The transaction highlights our team’s strength and experience in the waste sector and advising on highly complex, multi-layered international deals which require real collaboration both internally and externally in order to efficiently deliver the best outcome to our client.
“It also puts a spotlight on our fast-growing credentials in the energy & infrastructure space and showcases our skills in building successful relationships with some of the leading UK and international businesses that are striving for meaningful change around the net zero agenda.”
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