Funds managed by Blackstone Inc. (NYSE:BX) and EQT Infrastructure VI Fund, managed by EQT AB (publ) (OM:EQT) agreed to acquire URBASER, S.A. from funds managed by Platinum Equity, LLC in a transaction valued at ?5.6 billion on February 12, 2026. As per the transaction, EQT and Blackstone will each own 50% of Urbaser and jointly manage the company. As part of the transaction, Platinum Equity will retain Urbaser's waste management business in Argentina. The transaction is subject to customary conditions and approvals.
JPMorgan Chase & Co., UBS Investment Bank acted as financial advisors and Simpson Thacher & Bartlett LLP of and Kirkland & Ellis LLP acted as legal advisors to Blackstone Inc. Morgan Stanley & Co. International plc and Banco Bilbao Vizcaya Argentaria, S.A. acted as financial advisors and Simpson Thacher & Bartlett LLP and Kirkland & Ellis LLP acted as legal advisors to EQT AB. Citigroup Inc. and Santander US Capital Markets LLC acted as financial advisors and Latham & Watkins LLP acted as legal advisor to Platinum Equity, LLC. Uría Menéndez acted as legal advisors to Blackstone and EQT. Javier Martí-Fluxá and José Luis Rodríguez of Cuatrecasas acted as legal advisor to Platinum Equity. Esteban Arza, Elena Rodriguez, José Giménez and Alejandro Meca of Linklaters LLP acted as legal advisors to EQT AB and Blackstone Inc. Jake Keaveny, Warren Newton, Philip Bowden, Peter Mason and Court Tisdale of Proskauer Rose LLP advised the lead arrangers and underwriters in connection with the financing being provided to support the acquisition of Urbaser S.A.
EQT AB is one of the leading private equity fund management companies in Europe. The group also provides investment advisory services. Net sales break down by activity as follows:
- management of private equity funds (57.8%);
- management of real estate and infrastructure funds (40.4%);
- other (1.8%).
At the end of 2024, EQT AB had EUR 269 billion in assets under management.
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