August 2020
Global law firm Dentons advised WELLE on the acquisition of EuRec in Germany and on the restructuring of its management team. Through this deal, WELLE’s subsidiary in Luxembourg, which was the majority shareholder, will acquire 100% of the shares and gain full control of EuRec.
WELLE Environmental Group was founded in China in 2003, and has been listed on the GEM Board since 2011. The company is a leader in organic waste reduction, recycling and reuse – including waste leachate treatment, food and kitchen waste treatment, biogas and bio-methane generation, VOC recovery and other segments.
EuRec is a German-based company, which specializes in the manufacture, delivery, assembly, commissioning, maintenance and repair of waste processing and recycling technology.
Dentons represented WELLE in negotiations with the minority shareholder and the directors of EuRec, and in all legal aspects of the share transfer and the restructuring of the company’s management.
Shaohui Zhang, Partner at Dentons Luxembourg and Head of Dentons Europe China Collaboration Group, led the multijurisdictional legal team on the deal. Frankfurt-based partners Daniel Fritz (Restructuring, Insolvency and Bankruptcy), Clemens Maschke (Corporate and M&A), and Frank Lenzen (Employment and Labor) advised on German law. The team also included senior associates Wiebke Schulz and Lieor Koblenz and associate Johannes Fritzen in Frankfurt, and associate Chen Wu in Luxembourg.