Estre Ambiental, Boulevard ink merger

Estre Ambiental, Boulevard ink merger

M&A Brazil

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

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