Water and Waste Management

Our key experience includes advising:

RWE AG on a capital restructuring of the Thames Water group and then its subsequent disposal (£4.8 billion). The restructuring included the issuance of £1.2 billion of new fixed rate and index-linked bonds and the restructuring of a further £875 million of capital markets debt.

Severn Trent on the financing aspects of the acquisition by Biffa, its UK waste management subsidiary, of Hales from RMC (UK) Limited for a total consideration of £141 million.

Thames Water on the sale of the majority of its unregulated commercial businesses, including Thames Water Services, to Veolia Water UK, part of the Veolia Environnement Group, for approximately £78 million.

Global Infrastructure Partners on a recommended offer for Biffa, the integrated waste management business, which values Biffa at approximately £1.23 billion.

Brambles Industries, a leading global provider of support services, on the sale of Cleanaway UK to Veolia ES Holdings for £595 million.

Waste Recycling Group, one of the UK’s leading waste management and energy recovery companies, on the demerger of its waste-to-energy business.