Noerr advises Schwarz Group on partial purchase of SUEZ’s waste management and recycling business

Noerr is advising the Schwarz Group on an intended takeover and a strategic partnership with the French SUEZ Group in the waste disposal and recycling business. PreZero, which operates as Schwarz Group’s environment division, and SUEZ have entered into an agreement regarding the purchase of SUEZ’s waste management and recycling business in Germany, Poland, the Netherlands and Luxembourg. The parties have also agreed to evaluate the chances of a strategic partnership.

The agreement for the partial takeover of the waste management business of SUEZ, an international group of companies headquartered in Paris, includes the operations in the four said countries with a turnover of around €1.11 billion (2019) and a company valuation of €1.1 billion. The plastics recycling and disposal of hazardous/special waste divisions are not included in the deal. SUEZ employs around 6,700 people in these four markets.

After completion of the transaction, PreZero, one of the leaders in waste and recycling management, will have an additional workforce of around 1,700 in Germany. In total, the group will then employ around 10,300 people in Germany, Poland, the Netherlands, Belgium, Luxembourg, Austria, Italy and the USA.

The Schwarz Group and SUEZ have also entered into a memorandum of understanding to examine possibilities for establishing and developing a strategic partnership for the further development of the circular economy. Under such partnership the two groups would pool their competencies in waste and recycling management.

The transaction is subject to the approval of the employee representation bodies and clearance by the relevant antitrust authorities. Closing is expected to take place in the first half of 2021.

With Noerr’s assistance, the Schwarz Group in 2018 took over the fifth largest waste management company in Germany, Karl Tönsmeier Entsorgungswirtschaft GmbH & Co. KG, together with its seven subsidiaries in Poland. This year, Noerr also advised PreZero International GmbH on acquiring Polish environmental service provider Komart.

Advisors to Schwarz Group/PreZero:

Schwarz Group (in-house)

Dr Georg Heiß, Dr Andreas Pernfuß, Dr Human Behforouzi, Dr Stefanie Zugelder, Hannah Bursianis (Corporate and Legal M&A), Dr Bianca Vogt, Dr Ole Andresen  (Antitrust), Marcus Hillen (M&A Tax)

Team lead: Noerr LLP (Germany): Dr Gerald Reger (Corporate/M&A Munich), Dr Maurice Séché (Corporate/M&A, Düsseldorf), Susanne Rummel (Corporate/M&A, Munich)

Noerr LLP (Germany): Gregor Barbers (REIG, Düsseldorf), Jana Baumann (Corporate/M&A, Düsseldorf), Dr David Bomhard (Digital Business, Munich), Alexander Brandt (Data Protection, Munich), Dr Michael Braun (Capital Markets, Munich), Ines Coenen (Regulatory & Governmental Affairs, Munich), Dr Daniel Dommermuth (Employment & Pensions, Munich), Dr Henrik Dornscheidt (REIG, Düsseldorf), Karolin Fitzer (Compliance & Investigations, Frankfurt), Dr Svenja Gelshorn (Compliance & Investigations, Düsseldorf), Madita Gosch (REIG, Berlin), Christian Haagen (Corporate/M&A, Munich), Dr Korbinian Hartl (Digital Business, Munich), Dr Carsten Heinz (Tax & Private Clients, Munich), Dr Max Helleberg (Regulatory & Governmental Affairs, Berlin), Dr Benjamin Jahn (Employment & Pensions, Munich), Nicole Kaps (Private Equity, Munich), Nathalie Kibler (Employment & Pensions, Hamburg), Dr Maximilian Kummer (Digital Business, Munich), Felix Link (Capital Markets, Munich), Robert Marx (Private Equity, Berlin), Christian Alexander Mayer (Energy, Munich), Dr Mario Merget (Employment & Pensions, Berlin), Dr Oliver Moench (Telecommunications, Berlin), Franziska Nebollieff (Private Equity, Munich), Natalie Oei (Intellectual Property, Munich), Dr Falk Osterloh (Corporate/M&A, Düsseldorf), Dr Michael Reiling (Digital Business, Munich), Dr Thorsten Reinhard (Corporate/M&A, Frankfurt), Dr Diana Richter (Digital Business, Munich), Dr Christoph Rieken (Intellectual Property, Munich), Dr Daniel Rücker (Data Protection, Munich), Dr Joachim Rung (Regulatory & Governmental Affairs, Munich), Dr Eckhart Schleifenbaum (Private Equity, Munich), Dr Johannes Schäffer (Regulatory & Governmental Affairs, Berlin), Hendrik Schlutt (Regulatory & Governmental Affairs, Dreden), Katja Schmitt (Intellectual Property, Munich), Lisa Schmitt (Corporate/M&A, Frankfurt), Dr Martin Schorn (Compliance & Investigations, Düsseldorf), Maxmilian Schulte (Restructuring & Insolvency, Munich), Dr Stefan Schwab (Employment & Pensions, Berlin), Dr Ramon Sieven (Corporate/M&A, Hamburg), Ulrike Sommer (Tax & Pivate Clients, Düsseldorf), Dr Enno Stange (REIG, Berlin), Dr Thomas Thalhofer (Digital Business, Munich), Frithjof Terberger (REIG, Frankfurt), Dr Manuel Weiß (Private Equity, Munich), Manuela Wickenhöfer (Intellectual Property, Munich), Franziska Zahoransky (REIG, Frankfurt)

Noerr Biedecki sp.k. (Poland): Ludomir Biedecki (Corporate/M&A, Warsaw), Aleksandra Drozdz (Digital Business, Warsaw), Jaroslaw Karlikowski (Employment & Pensions, Warsaw), Joanna Kuc (Corporate/M&A, Warsaw), Mateusz Slodczyk (Corporate/M&A, Warsaw), Justyna Solarska (Liability & Insurance, Warsaw), Marek Solarski (Liability & Insurance, Warsaw), Joanna Szacinska (Corporate/M&A, Warsaw), Sylwia Urbańska (Corporate/M&A, Warsaw), Wojciech Wasowicz (Liability & Insurance, Warsaw), Piotr Zabkiewicz (Corporate/M&A, Warsaw)

NautaDutilh Avocats Luxembourg S.à r.l. (Luxembourg): Margaretha Wilkenhuysen, Vincent Wellens, Antoine Laniez, Caroline Notté, David Al Mari, Marierose Schwarz, Sigrid Heirbrant, Nathalie Zurel, Antoine Petronin, et al.

NautaDutilh N.V. (Netherlands): Jaap Stoop, Robert Woudenberg, Harm van Schaijk, Jasmijn van Koetsveld, Arjan Koorevaar, Daniël Kuiper, Naomi Asscheman, Florine Kuiperi, et al.

Jeantet AARPI (France): Karl Hepp de Sevelinges, Michael Samol, Ruben Koslar, Perrine Fuchs

PwC (Tax Due Diligence, all jurisdictions): Jürgen Scheidsteger (team lead)