Better World Acquisition Corp, a blank check company, is in talks with Dubai-based waste management and recycling firm Averda to take it public through a merger, according to reports.
Averda has operations in India, the Middle East and Africa, with more than 60,000 clients across the private and public sectors. Better World Acquisition, which focuses on firms with a strong ESG profile, is formed by New York based venture investor NGEN Partners.
"The transaction’s size couldn’t immediately be learned. A deal, if reached, could be announced in coming weeks," Bloomberg reported.
Averda representatives didn’t immediately respond to requests for comment outside of Dubai’s business hours. A Better World spokesperson declined to comment, the Bloomberg report said.
Averda offers its clients sustainable waste management and environmental services. By the end of 2024 Averda's portfolio will be concentrated more on recycling, composting and energy recovery, according to its website.
Malek Sukkar is the CEO and Director of Averda, which was founded in 1964. It currently employs more than 15,000 people globally.
(Reporting by Seban Scaria; editing by Anoop Menon)
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