Avenue Capital-backed blank check company to merge with Estre Ambiental

Boulevard Acquisition Corp II, a blank check company from Avenue Capital Group, is combining with Estre Ambiental SA. Estre, a leading management company in Brazil and Latin America, will become a public company with an initial enterprise value of $1.1 billion. Existing Estre shareholders will own 43 percent of the public company, while existing Boulevard stockholders will own the rest. The deal is expected to close in fourth quarter.

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