Dechert Advises SK Group on Merger Control Aspects of SK ecoplant’s US$1 Billion Acquisition of TES
Dechert advised SK Group on global merger control aspects and represented it in the clearance process before Germany’s Federal Cartel Office in connection with SK ecoplant’s acquisition of TES Group, a leading supplier of IT and battery lifecycle services for US$1 billion from Navis Capital Partners.
The acquisition of TES is a milestone for SK ecoplant to become a leader in the growing global sustainable IT lifecycle services market. This acquisition will also maximize synergies that both companies have in battery recycling and plastics innovations. Headquartered in Singapore, TES has 43 locations in 21 countries across Asia, Europe, the USA, Australia and New Zealand and has been active in Germany since the acquisition of Elektro-Devices Recycling GmbH in Herten (EGR) in 2018. TES provide comprehensive services for technology devices throughout their lifecycle – from deployment to decommissioning, recycling and end-of-life repurposing. This includes innovating new processes to leverage the value locked in assets if they are to be recycled.
The Brussels and Frankfurt-based Dechert team that advised SK Group includes antitrust/competition partner Clemens Graf York von Wartenburg as well as counsel Michael Okkonen and associates Thirith von Döhren and Isabella Egetenmeir.
Dechert is a leading global law firm with 22 offices around the world. The firm advises on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.