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.”

To speak to us in relation to the deal or general M&A and transactional trends and activity in the Middle East, please feel free to contact one of the lawyers below.
Author

Omar Momany is the Head of the UAE Corporate & Commercial practice of Baker McKenzie Habib Al Mulla, based in Dubai. With over 15 years' experience in the Middle East, Omar focuses on public and private mergers and acquisitions, corporate restructurings, corporate governance, joint ventures, commercial matters and corporate/shareholders' disputes in the UAE and throughout the region.

Author

Marcos Spanos is a senior associate of Baker McKenzie Habib Al Mulla, based in Dubai. He is a corporate lawyer with a focus on mergers and acquisitions, private equity and joint ventures. Marcos has advised financial institutions, conglomerates, private equity firms and funds in connection with cross-border transactions.

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Farah El Masri is a junior associate in Baker McKenzie Habib Al Mulla's Dubai office. Farah has experience in corporate commercial transactions including joint ventures, M&A and corporate restructuring, competition and compliance work.

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