Dubai, UAE: Leading global law firm Baker McKenzie Habib Al Mulla has advised Zenath Trading Enterprises LLC, the principal shareholder of Zenath Recycling & Waste Management LLC (Zenath Recycling), on the sale of Zenath Recycling to Averda, the leading integrated waste management services provider in the Middle East and Africa.
Zenath Recycling provides waste collection and disposal services to over 1,000 clients across Dubai. The sale will enable the company to enhance its long-term value and market position as a leading waste services operator in the UAE. It will also see Averda deliver on its growth in the Middle East market, inheriting a fleet of 38 trucks, which include 11 compactors, 11 chain loaders and 9 hook loaders as well as a workforce of 150 employees, as part of the sale.
The Baker McKenzie Habib Al Mulla team was led by UAE Head of Corporate and M&A Omar Momany along with senior associate Marcos Spanos and associate Farah El Masri. “We are delighted to have been able to support Zenath Trading Enterprises LLC in this strategic sale to Averda, reinforcing its market position as a leading waste services operator in the UAE,” said Omar Momany. “The Middle East market is ripe for consolidation across key growth sectors, buoyed by recent reforms to facilitate foreign investment. This transaction positions Zenath Trading and Averda to both capitalize on the growing waste management industry in the UAE and wider Middle East.”
About Baker McKenzie Habib Al Mulla
Baker McKenzie Habib Al Mulla brings over 30 years’ local know-how and extensive global resources to clients in the region, and is the only international law firm in the UAE with full rights of audience before all UAE and DIFC courts. We deliver unmatched on-the-ground support that reflects a deep understanding of local legal, regulatory and commercial practices. Our multidisciplinary team of 60 lawyers offers a full range of local and international legal advice across our offices in Dubai and Abu Dhabi, in both English and Arabic.
© Press Release 2019