PreZero’s Acquisition Of SUEZ Recycling & Recovery Operations

Jones Day advised Suez SA on the deal. Noerr LLP, NautaDutilh N.V, Jeantet AARPI and PwC advised PreZero.

French listed company SUEZ SA completed its sale of SUEZ Recycling & Recovery operations – excluding plastic recycling and hazardous waste treatment activities – in four continental Europe countries: the Netherlands, Luxembourg, Germany, and Poland to PreZero, the environmental division of Schwarz Group, as part of exclusive negotiations. The parties also signed a memorandum of understanding to explore possibilities to develop strategic partnerships promoting innovative waste management solutions to accelerate the development of the circular economy in Europe.

SUEZ R&R benefits from leading positions in the Netherlands, Luxembourg, Germany, and Poland which covers the entire Recycling and Recovery value chain, from Collection to Sorting, Processing, and Treatment. It handles a broad range of waste types (wood, glass, paper, metal) within its 125 sites run by its c.6,700 employees. In 2019, the perimeter has generated c.€1,109 million in sales and c.€100 million EBITDA on a pro forma standalone adjusted basis. The contemplated transaction values the business transferred at €1,100 million (Enterprise Value).

During recent years, Schwarz Group, largest European multinational retail group that is family-owned and operates grocery shops under the Lidl and Kaufland brands, has been developing in waste and recycling management, notably after several acquisitions to further expand its geographical footprint and expertise in the sector. Schwarz Group positions itself as an innovation driver in the industry with the vision of creating a world in which resources are no longer wasted thanks to closed loops. Zero waste, 100% reusable material. After completion of the transaction, Schwarz Group will employ a total of approximately 10,300 employees in Germany, Poland, the Netherlands, Belgium, Luxembourg, Austria, Italy, and the U.S.

The transaction is expected to be completed in Q1 2021, subject to regulatory approval and customary closing conditions including the consultation of employee representative bodies.

The Jones Day team was led by Audrey Bontemps (M&A – Paris) and Jonas Van den Bossche (M&A –  Brussels), and included Charlotte Breuvart (Antitrust – Brussels), Laurent de Muyter (Antitrust – Brussels).

The Noerr team was led by Dr Gerald Reger, Dr Maurice Séché and Susanne Rummel and also included, all from 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).

The Noerr Biedecki sp.k. team from Poland included 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 Urbanska (Corporate/M&A, Warsaw), Wojciech Wasowicz (Liability & Insurance, Warsaw), Piotr Zabkiewicz (Corporate/M&A, Warsaw).

The NautaDutilh team consisted of Margaretha Wilkenhuysen, Vincent Wellens, Antoine Laniez, Caroline Notté, David Al Mari, Marierose Schwarz, Sigrid Heirbrant, Nathalie Zurel, Antoine Petronin, Jaap Stoop, Robert Woudenberg, Harm van Schaijk, Jasmijn van Koetsveld, Arjan Koorevaar, Daniël Kuiper, Naomi Asscheman and Florine Kuiperi.

Jeantet AARPI team included Karl Hepp de Sevelinges, Michael Samol, Ruben Koslar and Perrine Fuchs, while PwC team was led by Jürgen Scheidsteger.

Involved fees earner: Perrine Fuchs – Jeantet & Associates; Karl Hepp de Sevelinges – Jeantet & Associates; Ruben Koslar – Jeantet & Associates; Michael Samol – Jeantet & Associates; Audrey Bontemps – Jones Day; Charlotte Breuvart – Jones Day; Jonas Van den Bossche – Jones Day; David Al Mari – NautaDutilh; Naomi Asscheman – NautaDutilh; Sigrid Heirbrant – NautaDutilh; Arjan Koorevaar – NautaDutilh; Daniel Kuiper – NautaDutilh; Florine Kuipéri – NautaDutilh; Antoine Laniez – NautaDutilh; Caroline Notté – NautaDutilh; Antoine Petronin – NautaDutilh; Marierose Schwarz – NautaDutilh; Jaap Stoop – NautaDutilh; Jasmijn van Koetsveld – NautaDutilh; Harm van Schaijk – NautaDutilh; Vincent Wellens – NautaDutilh; Margaretha Wilkenhuysen – NautaDutilh; Robert Woudenberg – NautaDutilh; Nathalie Zurel – NautaDutilh; Gregor Barbers – Noerr; Jana Baumann – Noerr; Ludomir Biedecki – Noerr; David Bomhard – Noerr; Alexander Brandt – Noerr; Michael Braun – Noerr; Ines Coenen – Noerr; Daniel Dommermuth-Alhäuser – Noerr; Henrik Dornscheidt – Noerr; Aleksandra Drozdz – Noerr; Karolin Fitzer – Noerr; Svenja Gelshorn – Noerr; Madita Gosch – Noerr; Christian Haagen – Noerr; Korbinian Hartl – Noerr; Carsten Heinz – Noerr; Max Helleberg – Noerr; Benjamin Jahn – Noerr; Nicole Kaps – Noerr; Jaroslaw Karlikowski – Noerr; Nathalie Kibler – Noerr; Joanna Kuc – Noerr; Maximilian Kummer – Noerr; Felix Link – Noerr; Robert Marx – Noerr; Christian Mayer – Noerr; Mario Merget – Noerr; Oliver Moench – Noerr; Franziska Nebollieff – Noerr; Natalie Oei – Noerr; Falk Osterloh – Noerr; Gerald Reger – Noerr; Michael Reiling – Noerr; Thorsten Reinhard – Noerr; Diana Richter – Noerr; Christoph Rieken – Noerr; Daniel Rücker – Noerr; Susanne Rummel – Noerr; Joachim Rung – Noerr; Johannes Schäffer – Noerr; Eckhart Schleifenbaum – Noerr; Hendrik Schlutt – Noerr; Katja Schmitt – Noerr; Lisa Schmitt – Noerr; Martin Schorn – Noerr; Maxmilian Schulte – Noerr; Stefan Schwab – Noerr; Maurice Séché – Noerr; Ramon Sieven – Noerr; Mateusz Slodczyk – Noerr; Justyna Solarska – Noerr; Marek Solarski – Noerr; Ulrike Sommer – Noerr; Joanna Szacinska – Noerr; Frithjof Terberger – Noerr; Thomas Thalhofer – Noerr; Sylwia Urba?ska – Noerr; Wojciech Wasowicz – Noerr; Manuel Weiß – Noerr; Manuela Wickenhöfer – Noerr; Piotr Zabkiewicz – Noerr; Franziska Zahoransky – Noerr; Jürgen Scheidsteger – PwC Legal Germany ;

Law Firms: Jeantet & Associates; Jones Day; NautaDutilh; Noerr; PwC Legal Germany ;