Close Brothers GmbH advised Bilfinger Berger Facility Services on the sale of Passavant-Roediger to a strategic investor from the United Arab Emirates

Frankfurt/Main, 19 November 2009

Close Brothers GmbH advised Bilfinger Berger Facility Services GmbH, Neu-Isenburg, on the sale of 82% of its shares in Passavant-Roediger GmbH, Hanau, to an acquisition entity fully controlled by Drake & Scull International PJSC, Dubai. With sales of € 70 million Passavant-Roediger is a global leading specialist engineering, procurement construction (EPC) provider of turnkey wastewater treatment plants, drinking water structures and industrial process water plants. In line with the strategy to increasingly focus on service businesses, Bilfinger Berger disposes of a business that was no longer considered core to the group. The acquirer, Drake & Scull International, aims at integrating its own water and waste water engineering related activities into Passavant-Roediger and forming a new division within Drake & Scull's Water & Power group to substantially grow the business with a focus on the Middle East, North Africa (MENA) and China, leveraging on the remarkable infrastructure build up in these regions under way. Bilfinger Berger will retain a minority share for the time being.

Close Brothers GmbH acted as sole financial adviser to Bilfinger Berger Facility Services.

Background information on Passavant-Roediger GmbH

Passavant-Roediger, Hanau, is a global leading specialist engineering, procurement construction (EPC) provider of turnkey wastewater treatment plants, drinking water structures and industrial process water plants. The company has its core expertise in its highly regarded sludge digestion technology which has been built into hundreds of wastewater treatment plants globally.
www.passavant-roediger-anlagenbau.de

Background information on Bilfinger Berger Facility Services GmbH

Bilfinger Berger Facility Services, Neu-Isenburg, is Germany´s largest multi-services provider for the real estate industry with international operations in 22 countries.
www.facilityservices.bilfinger.de

Background information on Drake & Scull International PJSC

Drake & Scull International, Dubai, is a leading end-to-end contracting company providing Mechanical, Electrical and Plumbing (MEP), Infrastructure, Water & Power (IWP) and Civil Engineering Services. The company’s expertise in mechanical, electrical and plumbing (MEP) contracting spans from providing complete solutions through Design and Build, to Engineering Procurement and Construction (EPC), and civil contracting services across Dubai and Abu Dhabi, as well as maintenance and operations of District Cooling Plants across the MENA region.
www.drakescull.com

Background information on Close Brothers GmbH

Close Brothers GmbH with offices in Frankfurt, Zurich and Warsaw is part of Close Brothers Corporate Finance, a leading, independent corporate finance house. Headquartered in London, it has a strong regional and European presence, employing more than 250 professionals across offices in the UK, France, Spain, Germany, Switzerland and Poland. Close Brothers Corporate Finance offers advice in mergers and acquisitions, restructuring, debt and equity raising, as well as dedicated advice to the Private Equity industry. As a subsidiary of Daiwa Securities SMBC Europe Limited, Close Brothers Corporate Finance also has access to a global network of relationships in the Japanese investment bank's existing markets. This includes Japan, Asia (China, Hong Kong, Singapore, India and other countries), Russia, Bahrain, Dubai and other Gulf territories as well as into the US through Sagent Advisors, an alliance partner of Daiwa Securities SMBC Co. Ltd. From 1 January 2010 Daiwa Securities SMBC will be a 100% subsidiary of Daiwa Securities Group. The new company name will then be Daiwa Capital Markets.
www.closebrothers.de, www.closebrothers.ch and www.closebrothers.pl