August 25, 2017
Brazil's Estre Ambiental and Boulevard Acquisition Corp have agreed to join forces and a merger is due to close in Q4, the companies said in a joint statement.
The merged entity will likely target a public listing in New York and an initial enterprise value has been set at roughly $1.1bn. This implies a 7.7x multiple of projected 2018 EBITDA.
Estre shareholders are due to take on 43% of the new company, while Boulevard will retain the rest.
Greenberg Traurig LLP and Demarest Advogados were le
Newly-combined Brazilian waste management company now sets sights on New York listing