King & Wood Mallesons (KWM) has advised Chinese Chengdu Techcent Environment Group (Techcent Group) on the acquisition of Bilfinger SE’s division Water Technologies. The transaction is subject to the approval by the relevant cartel authorities. The transaction is expected to close at the end of the first quarter of 2016. The purchase price amounts to approximately €200 million.

After having acquired a participation in CNP-Technology Water and Biosolids GmbH in 2014 as well as a majority stake in Centrysis Corp. (USA) in 2015, the purchase of Bilfinger’s division Water Technologies is the third cross-border acquisition by Techcent in the environmental/water technology area.

Techcent Group, headquartered in Chengdu, Sichuan province (China), was founded in 2001 and specializes in the research, development and production of energy-saving and environmental protection equipment. The company is listed on the Shenzhen Stock Exchange (300362.SZ). For many years, Techcent Group has been operating in the field of water technology – an area which has become one of the essential parts of the group’s business. 

Bilfinger Water Technologies – a division of the engineering and service group Bilfinger SE – is a global leader in the supply of systems, components and services in the water and wastewater technology area. Around 1,600 employees of the division generated revenues of about €300 million in 2015.

The European KWM team was led by Frankfurt-based corporate partner Michiel Huizinga, in close cooperation with Chengdu-based KWM partner Gao Chunkai, leading the Chinese team. Further practice areas located at KWM offices in Frankfurt, Munich, Milan, Madrid, Paris and Chengdu provided additional expertise.
 
Advisors to Chengdu Techcent Environment Group:
King & Wood Mallesons, Germany

Corporate/M&A:

* Michiel Huizinga (lead partner), Johanna Marniok (managing associate), Marc Oliver Stock (associate), Michael Gläsner (associate, all Frankfurt), Weirong Zhang (associate), David Leonte (associate, both Munich), Stefan Sattler (PSL), Xin Li (PSL, both Frankfurt)

Tax:

* Markus Hill (partner, Frankfurt)

Banking and Finance:

* Sabine Schomaker (partner), Ulf Gosejacob (counsel), Michael Beyer (associate), Markus Nielsen (associate, all Frankfurt)

IP/IT:

* Manuela Finger (partner), Miriam Siegle (associate), Timo Conraths (associate, all Frankfurt)

Employment:

* Barbara Geck (partner), Franziska Fiedler (associate), Daniela Gudat (associate, all Frankfurt)

Real Estate:

* Lars Reubekeul (partner, Frankfurt/Munich), Florian Biesalski (counsel, Munich), Christina Ulrike Konzelmann (associate, Frankfurt)

EU/Competition: 

* Tilman Siebert (partner), Helge Aulmann (associate, both Munich)

King & Wood Mallesons, China

* Gao Chunkai (partner), Liu Feng (senior associate), Wang Mian (associate, all Chengdu)