Noerr advises Veolia on strategic divestment

07.06.2016

With a team led by its Berlin partners Dr. Tibor Fedke and Dr. Christoph Spiering, Noerr has advised Veolia on the sale of its interest in Kompetenzzentrum Wasser Berlin gGmbH (KWB). The shares held by the long-standing Noerr client in the research institute will be taken over by shareholders belonging to the State of Berlin. While the Berlin Senate has already approved the sale, it now still requires the approval of the Berlin parliament.

For Veolia, this strategic divestment marks the close of the remunicipalisation of the Berlin waterworks. In 2013, Veolia sold its share in the Berlin waterworks to the State of Berlin for around EUR 600 million, also with the assistance of Noerr. At the time, the sale of the research institute was excluded from the negotiations. Following Veolia’s exit, Berliner Wasserbetriebe (BWB), Berlinwasser Holding (BWH) and Technologiestiftung Berlin (TSB) remain the shareholders of KWB. Veolia entered into a settlement agreement with the State of Berlin by paying EUR 12.4 million which have been passed on to KWB as earmarked funds.

Veolia is currently developing new fields of business in Germany, thereby relying on legal advice from Noerr and its M&A specialists for advice to companies from regulated industries. For instance, a team led by Tibor Fedke and Christoph Spiering advised Veolia in early 2016 on the takeover of Nuon Energie und Service GmbH from Vattenfall.

Advisors to Veolia Deutschland GmbH: Noerr LLP

Dr. Tibor Fedke, Dr. Christoph Spiering (joint lead, both Corporate/M&A), Dr. Carsten Heinz (Tax), Dr. Holger Schmitz (Regulatory & Governmental Affairs, all Berlin), Dr. Andrea Zwarg (Corporate/M&A, both Frankfurt)

Associates: Katrin Andrä (Lead Associate, Corporate/M&A, Berlin), Dr. Julia Gerzen (Corporate/M&A), Florian-Felix Marquardt (Tax, all Berlin)

PR team


Corporate
Regulatory and Governmental Affairs
Mergers & Acquisitions

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