Lincoln International advises the Spanish Group Befesa Medio Ambiente S.A. on the acquisition and financing of three German salt slag recycling facilities out of insolvency

Madrid, June 2009 - Publicly quoted Befesa Medio Ambiente S.A. ("Befesa") has reached agreements with the insolvency administrators of Aluminium-Salzschlacke Aufbereitungs GmbH i.I., Hannover and Alsa Süd GmbH i.I., Töging, both subsidiaries of insolvent German quoted company Agor AG, to acquire the three recycling plants in Hannover, Lünen and Töging that have a replacement value of more than EUR 100m. The facilities are equipped with state of the art technology and a joint treatment capacity of 380,000 tonnes of salt slag per year.

Befesa currently has two similar recycling plants, one in Valladolid (Spain) and the other in Wales (United Kingdom) with a joint capacity for handling 230,000 tonnes per year. "With this acquisition, Befesa becomes the leading company in salt slag recycling in Europe with five production plants spread strategically across the continent", says Federico Barredo, Managing Director at Befesa and he adds: "Lincoln International was a great support in a complicated transaction in a difficult market environment. Their integrated Spanish-German team worked very well with our internal resources and steered the transaction to a successful end."

Befesa, the environmental services subsidiary of Abengoa, has a presence in more than 20 countries and specializes in the integral management of industrial waste and the generation and management of water. In 2008, the company generated sales of some EUR 874m.

Please contact Ramón Vecino, President & Managing Director at Lincoln International Spain, and/or  Dirk Langenbach, Managing Director at Lincoln International Germany, for more information on this transaction.

About Lincoln International

Lincoln International specializes in merger and acquisition services, debt advisory services, UK pension advisory services and providing fairness opinions and valuations for leading organizations involved in mid-market transactions. With offices in Chicago, Frankfurt, London, Los Angeles, Madrid, New York, Paris, Tokyo and Vienna, and strategic partnerships with China Everbright in China and ICICI Securities, Inc. in India, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com

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