Abreu Advogados advised a group of private shareholders in the sale of a majority stake at Sirplaste, the largest Portuguese company in the recycling of plastic waste, to SCG Chemicals, one of the largest petrochemical companies in Asia.
The transaction was led by a multidisciplinary team from Abreu Advogados, led by Cláudia Santos Malaquias, Associate Partner, with the overall coordination of Manuel Santos Vítor, Partner, both from the Corporate, Commercial and M&A team.
Sirplaste is a pioneer company in Portugal with over 45 years of experience in the world of plastic waste recycling, an activity that is becoming increasingly relevant for global sustainability. Sirplaste has been developing its activity with recognition, and expanding it in several European countries. With the completion of this transaction, the company will be able to continue its expansion and growth to reach other world markets.
The transaction is expected to be completed by the end of 2021.