Latham & Watkins has advised French industrial group Seche Environnement on its S$605 million ($445 million) agreement to buy Singapore’s ECO Industrial Environmental Engineering from Beijing Capital Eco-Environment Protection Group (Beijing Capital).

Zhong Lun Law Firm has acted for the seller, Beijing Capital, in the deal.

ECO is the largest operator in Singapore’s hazardous waste recovery and treatment market, with a market share of around 32 per cent. Reuters had reported earlier that the sale had attracted a number of interested buyers, such as global infrastructure investors Actis and I Squared Capital.

The Latham team was led by Singapore partner Farhana Sharmeen and Paris partner Alexander Crosthwaite, with support from Paris partner Thomas Margenet-Baudry on finance matters.

The Zhong Lun team was led by Hu Jun and Li Lei (M&A team), and participated by Tang Zhoujun and Xu Jie (capital markets team).