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STRABAG acquires WTE Wassertechnik: A billion-dollar business for the future!
WTE Wassertechnik is acquired by STRABAG for 100 million euros to expand water infrastructure in the Middle East.
STRABAG acquires WTE Wassertechnik: A billion-dollar business for the future!
In a remarkable decision, WTE Wassertechnik GmbH has said goodbye to its international project business. The sale to STRABAG SE represents a strategic step for the company within the EVN Group. How Juve reported, the transaction includes significant parts of the European business as well as activities in Kuwait and Bahrain. However, completion of the deal is still subject to approval from antitrust authorities and is expected within the next six months.
With an agreed purchase price of 100 million euros, STRABAG is doing good business. This amount also includes the existing shareholder loans associated with the acquisition of the water technology. Freshfields, the global business law firm, plays a central role and advises EVN AG on this sale. This partnership shows how important sound legal support is in such significant transactions.
Expansion of the water technology division
The purchase of WTE Wassertechnik GmbH allows STRABAG to significantly expand its water technology business. This step will make the company a full-service provider of water infrastructure. Noerr highlights that the combined portfolio in this business area will achieve an annual output of around 400 million euros. STRABAG is thus positioning itself as an important player in water management and opening up new perspectives in this industry.
A team of experts, including partners from Germany and Austria, is managing the legal framework of the takeover. The positive approach is also reflected in the strong regional support, involving local counsel from 13 different jurisdictions. This ensures that all legal matters are comprehensively covered, regardless of whether it concerns markets in Slovenia, Kuwait or other countries.
With this step, STRABAG is pulling the right levers in the area of water technology in order to remain competitive and innovative in the future. The takeover of WTE Wassertechnik GmbH could prove to be a golden opportunity for the Viennese company, which is now more firmly anchored in international business.