Drew & Napier acted as Singapore legal counsels for Beijing Capital Eco-Environment Protection Group Co., Ltd. in the sale of its shares in ECO Industrial Environmental Engineering Pte Ltd
12 Nov 2024
Director Wu Geng and team, comprising Senior Associate Joelle Fang, Associate Sarah Tan, and Legal Executive Zhang Yueyun, acted as legal advisers on Singapore law to Beijing Capital Eco-Environment Protection Group Co., Ltd. ("Beijing Capital") in the sale of 100% of its shares in ECO Industrial Environmental Engineering Pte Ltd ("ECO") and its subsidiaries to Seche Holdings (SG) Pte. Ltd. (a wholly owned subsidiary of French hazardous waste treatment and disposal company, Séché Environnement) for a consideration of around SGD 605 million. Drew’s involvement in the deal covered various aspects of the disposal from start to completion including the due diligence conduct of ECO and its subsidiaries, assistance in the competitive bidding process, as well as advising on the transactional documents.
In addition, Director Dr. Corinne Chew and team as well as Director April Mak advised on competition law and real estate aspects of the deal respectively.
ECO stands as the number one operator in Singapore’s hazardous waste recovery and treatment market. This divestment was a part of Beijing Capital's strategy to focus on its core environmental businesses in the People's Republic of China.
You may read more about the transaction on The Business Times here and The Straits Times here.