SULO Group is Sold to Veolia Environnement
Milbank Acts as Advisor to the Selling Financial Investors Apax and Blackstone
FRANKFURT/MUNICH, 27 April 2007 – SULO Group, Germany’s second largest waste management company, is sold. Veolia Environnement today announced the signature of an agreement with the Blackstone Group and Apax Partner with the view to acquiring SULO. The French company Veolia Environnement is the world leader in environmental solutions. The international law firm Milbank, Tweed, Hadley und McCloy LLP advised Apax and Blackstone in the transaction which is valued at € 1.45 billion and subject of European antitrust authorities.
SULO employs more than 7,700 people, including 6,300 in Germany, and recorded revenue of around € 1.3 billion in 2006.
The stock listed company Veolia Environnement (Paris Euronext: VIE and NYSE: VE) has more than 300,000 employees worldwide and recorded revenue of € 28.6 billion in 2006.
The Milbank team representing SULO Group included Dr. Peter Nussbaum (Partner, Corporate/M&A, Munich), and associates Stefan Kroeker, Dr. Michael Pujol und Ludger Schult (all Corporate/M&A, Munich), Dr. Thomas Kleinheisterkamp (Tax, Munich) and Jan Wilms (Finance, Frankfurt).
Milbank has acted as advisor to the SULO Group in its acquisition of Cleanaway Germany in 2005 and Henning Umwelt Management GmbH in January 2007.