Scholz Group completed the equity recapitalization of Scholz Recycling GmbH, a direct and wholly-owned subsidiary of Scholz Holding GmbH, through a EUR 80m cash capital increase from Chiho Environmental Group Limited. The additional capital will be used to repay a EUR 59m senior bridge loan due at the end of June 2017 and to meet working capital requirements. The capital increase was made through Chiho Renewables International Holding Ltd., a direct and wholly-owned subsidiary of Chiho Environmental Group Limited. The transaction closed on June 29, 2017.

Duff & Phelps served as an independent financial advisor to the board of directors of Scholz Holdings GmbH related to the equity recapitalization of Scholz Recycling GmbH.

About Scholz Group
Scholz Group is a leading European scrap recycler with a regional presence in Germany, Poland, Austria, the Balkans, the Czech Republic, Denmark, the United States of America and Mexico. Furthermore, it is one of the largest international recycling companies for ferrous and non-ferrous metal. Scholz Group is a member of Chiho Environmental Group Limited and is headquartered in London, United Kingdom. Dentons served as legal counsel to Scholz Holding GmbH.

About Chiho Environmental Group Limited
Chiho Environmental Group Limited (SEHK: 976) is an investment holding company engaged in the recycling of mixed metal scrap in the People's Republic of China. It operates through 3 segments: Metal Recycling Business, Foundry Business, and Wholesales Business. The company was formerly known as Chiho-Tiande Group Limited and is headquartered in Hong Kong, Hong Kong.Latham & Watkins served as legal counsel to Chiho Environmental Group Limited.