Platinum Equity, LLC entered into a definitive agreement to acquire URBASER, S.A. from China Tianying Inc. (SZSE:000035) for an enterprise value of approximately €3.5 billion on June 6, 2021. Upon closing, José María López Piñol will continue to lead Urbaser as Chief Executive Officer. URBASER generated approximately €2.3 billion in revenue for fiscal year 2020. Santander and Bank of America lend 2,000 million to Platinum for the purchase of Urbaser. The objective is to refinance this bridge loan and place the debt among investors. The sale is subject to China Tianying shareholder and customary regulatory approvals and it is expected to be completed during the third quarter of 2021. Citigroup Inc. (NYSE:C) and Banco Santander, S.A. (BME:SAN) acted as financial advisors and Latham & Watkins LLP acted as legal advisor to Platinum Equity, LLC in this transaction. Javier Martí-Fluxá, Juan Felipe Vera, Santiago Ferrer and Francisco Santos Costa of Cuatrecasas, Gonçalves Pereira, S.L.P. acted as legal advisor to Platinum Equity, LLC. Société Générale Société anonyme (ENXTPA:GLE), Crédit Agricole S.A. (ENXTPA:ACA) and Deutsche Bank Aktiengesellschaft (XTRA:DBK) acted as financial advisor to China Tianying Inc.