Milbank Advises Veolia Affiliate SULO on Sale of its Environmental Technology Division
Munich, 27 July 2007 – SULO Group (SULO), an affiliate of the French environmental services provider Veolia Environnement (Veolia), has signed an agreement to sell its environmental technology division to French publicly-listed Compagnie Plastic Omnium. In early July, SULO had been acquired by Veolia. The international law firm Milbank, Tweed, Hadley & McCloy LLP advised Veolia on all corporate aspects of the transaction. The deal volume has not been disclosed by the parties involved. The completion of the takeover is subject to approval by the respective antitrust authorities.
Veolia has more than 270,000 employees worldwide and recorded revenue of around EUR 28.6 billion in 2006. Plastic Omnium employs almost 12,000 people in 26 countries and recorded revenue of around EUR 2.3 billion in 2006.
The Milbank team representing Veolia included Peter Nussbaum (partner, lead) and Ludger Schult, both corporate/M&A, Munich.
Milbank has advised SULO for several years, representing the company in transactions such as the acquisition of Cleanaway Deutschland in 2005 and Henning Umwelt Management GmbH in January 2007 and on its sale to Veolia in early July.
About Milbank
Milbank, Tweed, Hadley & McCloy LLP is a preeminent global law firm that for more than 140 years has provided innovative legal solutions in many of the world’s largest, most complex, “first-ever” corporate transactions and litigation. Our transactional expertise includes capital markets, corporate finance and transactions, project finance, acquisition finance, and other major fields of law practice. Milbank litigation teams resolve disputes involving mergers and acquisitions, proxy battles, financings and securities offerings, intellectual property, white collar crime, and corporate restructurings, among others. Our clients range from prominent multinational financial, industrial and commercial enterprises to governments, institutions and individuals. The Firm is headquartered in New York, Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, Singapore, Tokyo, and Washington, DC.
Milbank set up its first European office in London in 1979. The firm’s German offices were opened in Frankfurt in 2001 and in Munich in 2004. Milbank’s European presence has more than doubled in the last two years with growing practices in capital markets, corporate, finance, private equity, outsourcing and litigation. By combining the skill and experience of the lawyers in Milbank's German offices with that of the finance, corporate and tax lawyers based in other Milbank offices, in particular London and New York, Milbank Germany offers its clients fully integrated legal advice at the highest level in these core areas under German, English and US law.