PreZero International GmbH signed an agreement to enter into exclusive negotiations to acquire Recycling & Recovery operations in Netherlands, Luxembourg, Germany and Poland of Suez SA (ENXTPA:SEV) for an enterprise value of €1.1 billion on September 16, 2020. In 2019, the target business generated approximately €1.1 billion in sales and approximately €100 million adjusted EBITDA. After completion of the transaction, PreZero will have a total of approximately 10,300 employees in Germany, Poland, the Netherlands, Belgium, Luxembourg, Austria, Italy and the USA. 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. As on April 14, 2021, the transaction was approved by The European Commission. Karl Hepp de Sevelinges and Michael Samol of Jeantet acted as legal advisor to Schwarz, parent of PreZero. Gerald Reger, Maurice Séché and Susanne Rummel of Noerr LLP and Ludomir Biedeck of Noerr Biedecki sp.k. acted as legal advisors to Schwarz Group. Margaretha Wilkenhuysen, Caroline Notté, David Al Mari, Marierose Schwarz and Nathalie Zure of NautaDutilh Avocats Luxembourg and Jaap Stoop, Harm van Schaijk, Arjan Koorevaar and Naomi Asscheman of NautaDutilh N.V. acted as legal advisors to Schwarz Group. Audrey Bontemps, Charlotte Breuvart and Laurent de Muyter of Jones Day acted as legal advisor to Suez. Pwc Legal acted as legal advisor to PreZero. PreZero International GmbH completed the acquisition of Recycling & Recovery operations in Netherlands, Luxembourg, Germany and Poland of Suez SA (ENXTPA:SEV) on May 31, 2021.