Milbank, Tweed, Hadley & McCloy LLP has advised the engineering and services group Bilfinger on the sale of its Water Technologies division. The buyer is the Chinese company Chengdu Techcent Environment Group, which has been active in the water technology sector for many years. Bilfinger’s net proceeds from the sale are expected to amount to approximately 200 million euros.

In the Water Technologies division, about 1,600 employees generated an output volume of approximately 300 million euros in 2015. The transaction is still subject to approval by the cartel authorities.

A Milbank team headed by Norbert Rieger and Andrea Eggenstein comprehensively advised Bilfinger on corporate and tax law in relation to the transaction.

Advisor to Bilfinger SE: Milbank, Tweed Hadley & McCloy LLP

Norbert Rieger (Corporate/M&A, Munich), Andrea Eggenstein (Corporate/M&A, Frankfurt, joint lead), Christoph Rothenfusser (Corporate/M&A, Munich), Thomas Kleinheisterkamp, Matthias Schell (both Tax, Munich), Alexander Rinne (Antitrust, Munich), Thomas Ingenhoven (Finance, Frankfurt), Fiona A. Schaeffer (Antitrust, New York), Leopold Riedl (Corporate/M&A, Frankfurt), Dominic Köstner, Timo Schwarzwälder (both Corporate/M&A, Munich), Chiara Balbinot, Carsten Hohmann (both Tax, Munich)