NEW YORK and SÃO PAULO,
Dec. 22, 2017 /PRNewswire/ --
Boulevard Acquisition Corp. II (NASDAQ: BLVD) ("Boulevard") and
Estre Ambiental S.A. today jointly announced that their previously
announced business combination has closed following the receipt of
Boulevard stockholder approval. The newly combined company, named
Estre Ambiental, Inc. ("Estre"), will begin trading its ordinary
shares and warrants today on the NASDAQ under the symbols "ESTR"
and "ESTRW," respectively.
Sérgio Pedreiro, Chief Executive Officer of Estre, said, "We are
excited to have completed our combination with Boulevard and look
forward to continuing our strategy of pursuing organic and
acquisition growth opportunities. We will continue to work hard to
distinguish Estre as the leading waste management enterprise in
Latin America and maximize the
abundant opportunities ahead."
As previously announced, Estre's management team, led by Chief
Executive Officer Sérgio Pedreiro, will continue to lead the
company.
About Estre
Estre is the largest waste management company in Brazil and Latin
America, as measured by disposal capacity, collection volume
and market share. Estre provides collection, transfer, recycling
and disposal services to more than 31 million people in seven
Brazilian states where approximately 50% of Brazil's population is concentrated. Estre
landfill operations, which are currently focused around 13
strategically located landfills, dispose of approximately 6.0
million tons of waste annually. Estre also expects to add five
additional landfills to its operations over the next several years.
Estre's waste management infrastructure also includes two landfill
gas-to-energy facilities with an installed capacity of
approximately 14 MW, as well as three hazardous and medical waste
facilities. Additional information on Estre is available at
http://www.estre.com.br/en/.
About Boulevard Acquisition Corp. II
Boulevard was a public investment vehicle formed by Avenue
Capital Group for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses.
Boulevard's former officers and certain of its directors are
affiliated with Avenue Capital Group. Avenue is an established
global alternative investment firm founded in 1995 with
approximately US$10 billion in assets
under management. Avenue's primary focus is investing in credit and
other special situation investments in the United States, Europe and Asia.
Forward-Looking Statements
This press release includes certain statements that are not
historical facts but are forward-looking statements for purposes of
the safe harbor provisions under the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
statements generally are accompanied by words such as "believe,"
"may," "will," "estimate," "continue," "anticipate," "intend,"
"expect," "should," "would," "plan," "predict," "potential,"
"seem," "seek," "future," "outlook," and similar expressions that
predict or indicate future events or trends or that are not
statements of historical matters. These forward-looking statements
include, but are not limited to, statements regarding forecasts of
financial and performance metrics, projections of market
opportunity, macroeconomic outlook and the expected benefits of the
proposed business combination. These statements are based on
various assumptions and on the current expectations of Estre
management and are not predictions of actual performance. These
forward-looking statements are subject to a number of risks and
uncertainties, including general economic, political and business
conditions in Brazil; potential
government interventions resulting in changes to the Brazilian
economy, applicable taxes and tariffs, inflation, exchange rates,
interest rates and the regulatory environment; changes in the
financial condition of Estre's clients affecting their ability to
pay for its services; the results of competitive bidding processes,
which could lead to the loss of material contracts or curtail
Estre's expansion efforts; the outcome of judicial and
administrative proceedings to which Estre is or may become a party
or governmental investigations to which Estre may become subject
that could interrupt or limit Estre's operations, result in adverse
judgments, settlements or fines and create negative publicity;
changes in Estre's clients' preferences, prospects and the
competitive conditions prevailing in the Brazilian waste
management; those factors discussed in Estre's prospectus, dated
December 8, 2017, under the heading
"Risk Factors," and other documents of Estre filed, or to be filed,
with the SEC. These statements speak only as of the date they are
made and neither Boulevard nor Estre undertakes any obligation to
update any forward-looking statements contained herein to reflect
events or circumstances which arise after the date of this press
release.
Contacts
Fabio D'Avila
Estre
ir@estre.com.br
+55 11-3709-2358
Todd Fogarty / Aduke Thelwell
Kekst
todd.fogarty@kekst.com or aduke.thelwell@kekst.com
+ 1 212-521-4800
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SOURCE Boulevard Acquisition Corp II