20 April 2016
Gernandt & Danielsson advises Studsvik in divestment of business area
Gernandt & Danielsson advises Studsvik AB (publ) in its divestment of its waste treatment business in Sweden and Great Britain to the French energy corporation EDF for a preliminary purchase price of SEK 355 million on a debt free basis.
The scope of the transaction includes Studsvik’s waste treatment assets and facilities situated at the Studsvik site, near Nyköping in Sweden, and the Metal Recycling Facility near Workington in the UK. EDF S.A makes the acquisition through its wholly owned subsidiary EDF Dévelopment Environment SA.
Studsvik and EDF have as part of the transaction entered into a cooperation agreement within the areas of waste treatment, consultancy services and nuclear decommissioning.
The transaction is conditioned upon the granting of necessary licenses and permits by the relevant authorities.
Studsvik, which shares are traded on Nasdaq Stockholm, retains the business areas Fuel and Materials Technology and Consultancy Services. EDF, whose majority shareholder is the French State, is a global energy group with revenue in 2015 of approximately EUR 75 billion and approximately 160 000 employees.
Gernandt & Danielsson advices Studsvik with a team consisting of Partner Mikael Borg, Senior Associate Erik Åslund and Associates Philip Rämsell, Helén Landenberg and Martin Bengtsson. Counsel Rolf Larsson has advised on competition law matters and Senior Associates Adrian Della Morte Pålstam on financing law matters and Erik Sandgren on intellectual property law matters.