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European law firm Fieldfisher has advised Agilyx ASA, a leading and fast-growing chemical recycling company headquartered in Oslo, Norway, on its strategic acquisition of a 44% stake in GreenDot Global S.à r.l.
Fieldfisher provided comprehensive legal support throughout the transaction. Led by partner Jan Hartmann, a multidisciplinary and cross-border team supported Agilyx in the due diligence process and in ensuring compliance with all applicable regulatory requirements. The legal support comprised legal aspects in Germany, Austria, France and Italy.
The minority stake in GreenDot represents a key step in Agilyx’s European growth strategy and is subject to customary closing conditions. The transaction showcased Fieldfisher’s strong international footprint and sector-specific capabilities.
Agilyx focuses on licensing its proprietary chemical recycling technology and establishing supply chains for post-use plastics. With its patented innovations and strategic partnerships, the company is well-positioned to scale advanced recycling solutions globally. This investment marks a major milestone in Agilyx’s expansion in Europe and lays the foundation for a global platform to significantly broaden access to plastic waste feedstock and extend operational reach across the continent.
GreenDot is Europe's leading recycling platform and one of the three largest recycling companies in Germany. Operating in 29 countries, the company processes more than one million tonnes of packaging waste annually, including approximately 400,000 tonnes of plastic. As part of the investment, GreenDot is expanding its infrastructure with new sorting facilities in Austria and Italy. For 2025, revenues of around €400 million and a double-digit million-euro EBITDA are expected.
The transaction values GreenDot at an enterprise value of €197 million (post-money). Agilyx’s investment of €52 million consisting of approximately €32 million in newly issued Agilyx shares and approximately EUR20 million in cash in a combination of primary and secondary share purchases. Financing is provided by Agilyx’s existing investor base via a €20 million subordinated loan facility.
Closing is expected in the third quarter of 2025, subject to regulatory approvals, including merger control clearance under German foreign investment laws, lender consent to a change of control at GreenDot, and Agilyx shareholder approval for a new share issuance at an extraordinary general meeting.
Fieldfisher
Corporate: Jan Hartmann (Partner, Lead), Maximilian Franz (Senior Associate, Co-Lead), Bujar Preteni (Associate), Lucile Meriguet (Partner, France), Alexandre Matar (Associate, France)
Competition/Antitrust: Dr Sascha Dethof (Partner), Dr Alice Meissner (Partner, Vienna), Dr Jean Pascal Slotwinski-Michel (Senior Associate), Alexander Heitzinger (Director, Vienna)
Data Protection: Katharina Weimer (Partner), Celin Fischer (Associate)
IP: Matthias Berger (Partner), Dr Jörn Peters (Senior Associate)
Litigation (Italy): Ettore Bonaccorsi (Partner)
Commercial: Dr Susanne Weckbach (Partner), Judica Trieglaff (Senior Associate), Dr Patrick Born (Associate)
Employment: Marcus Kamp (Partner), Alexandra Bäumer (Associate), Janik Veken (Associate)
Regulatory: Joscha J. John (Associate)