Beijing Enterprises Holdings Limited (“BEHL”) has signed an agreement to acquire from EQT Infrastructure II (“EQT”) and its affiliates collectively 100% shareholding in EEW Energy from Waste (“EEW”), the market-leading energy-from-waste company in Germany, for approximately â‚¬1,438 million. The agreement is conditional upon obtaining an approval under German Foreign Trade and Payments Ordinance. The transaction is expected to close during first quarter of 2016.
Xinhao Jiang, Executive Director and Vice President of BEHL, said: “This transaction is in line with our long-term strategic focus and overseas expansion plan. EEW has an exceptional management team, solid track record, and strong expertise in constructing, operating and optimizing state-of-the-art energy-from-waste plants. We are confident that this transaction will introduce EEW’s operation excellence and know-how to China market, and improve our operation efficiency and management standards of waste business in China.”
Matthias Fackler, Partner at EQT Partners, Investment Advisor to EQT, said: “Over the past three years, we have used our industrial expertise to support EEW in strengthening its core business processes. Under the leadership of a new management and complementary industrial board, this has led to broadening EEW’s customer base and a very efficient organization, setting the business up well for the future. We are convinced that Beijing Enterprises Holding is the right partner to support the further development of EEW including its continued domestic and international growth.
Bernard Kemper, CEO of EEW, added: “EQT’s support and expertise have been instrumental to the optimization of business processes at EEW, and have provided a solid foundation for the company’s further growth. We look forward to future success together with Beijing Enterprises Holdings, and to the continued development of the company.”
Lazard and UBS acted as financial advisors to BEHL. Mayer Brown LLP acted as legal advisor to BEHL.
Beijing Enterprises Holdings Limited is a company incorporated in Hong Kong with limited liability, the shares of which are listed on the main board of the Stock Exchange (stock code: 392). The company and its subsidiaries are principally engaged in natural gas operations, brewery operations, sewage and water treatment operations, as well as solid waste treatment operations in the PRC.
Further information about BEHL can be found at www.behl.com.hk
EEW is the market leading energy-from-waste company in Germany, also active in Luxembourg and the Netherlands. With 1,050 employees the company operates 18 energy-from-waste plants and produces electricity, district heating and process steam for industrial use. The plants are modern facilities with state-of-the-art technology, frequently updated to meet the latest technological standards. EEW operates an installed waste capacity of around 4.7 million tonnes making an important contribution to European sustainable economy and playing a vital part in the local energy infrastructure, producing in total 6 TWh of energy. In 2014, EEW generated sales of about EUR 539million.
More information can be found on www.eew-energyfromwaste.com
EQT is a EUR 1.925 billion fund investing in medium-sized infrastructure businesses in the Nordic region, parts of Continental Europe, and North America. Investments targets are regulated infrastructure, concession-based infrastructure, market-based infrastructure and infrastructure-related services.
For further information, please visit www.eqt.se