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Thursday, 10 June 2021 23:18

Cuatrecasas counsels Platinum Equity on the acquisition of Urbaser for €3.5 bn

The consultancy was carried out by the Cuatrecasas offices in Mexico City, Santiago de Chile, Bogota, Madrid and Lisbon

 Cuatrecasas, through its offices in Madrid, Santiago de Chile, Bogotá, Mexico City and Lisbon, has advised Platinum Equity on the acquisition of Urbaser, one of the world's largest environmental services providers, from China Tianying Inc. (CNTY) in a transaction with an enterprise value of around 3.5 billion euros.

This transaction is subject to customary regulatory approvals, as well as CNTY shareholder approval, and is expected to be completed in the third quarter of 2021.

Platinum Equity is a global investment company, founded by Tom Gores, with more than $25 billion in assets under management and a portfolio of approximately 40 operating companies serving clients around the world. With this acquisition, the US management company continues its ambitious investment plan in Europe.

Urbaser is a business that mainly comprises three segments: urban services (waste collection, street cleaning and water management), municipal waste treatment and industrial waste treatment, concentrated, among others, in Spain, Chile, Argentina, France and the Nordic European region.

Cuatrecasas' team was led by Javier Martí-Fluxá, a partner in the Madrid office's Commercial practice, with the participation of lawyers Álvaro López de Ceballos, Álvaro Vierna and Marta Gómez Gutiérrez; from the Santiago de Chile office Roberto Guerrero(pictured top left), Josefina Yávar (pictured top centre)and Tomás Kubick(pictured top right); from the Bogotá office Juan Felipe Vera(pictured bottom left), Pablo Martínez García; from the Mexico City office Santiago Ferrer(pictured bottom centre), Juan Carlos Galicia(pictured bottom right); and from the Lisbon office Francisco Santos Costa and Francisco Martins Caetano. In certain jurisdictions, Latham & Watkins has advised Platinum Equity in conjunction with Cuatrecasas.