Better World Acquisition in merger talks with Dubai waste management company Averda

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Better World Acquisition Corp, a blank check company, is in talks with Dubai-based waste management and recycling company Averda to make it public through a merger, according to reports.

Averda is present in India, the Middle East and Africa, with more than 60,000 clients in the private and public sectors. Better World Acquisition, which focuses on companies with a strong ESG profile, is formed by venture capitalist NGEN Partners based in New York.

“The size of the deal could not be learned immediately. A deal, if done, could be announced in the coming weeks,” Bloomberg reported.

Averda representatives did not immediately respond to requests for comment outside of Dubai opening hours. A Better World spokesperson declined to comment, according to the Bloomberg report.

Averda offers its customers sustainable waste management and environmental services. By the end of 2024, Averda’s portfolio will be more focused 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 over 15,000 people worldwide.

(Reporting by Seban Scaria; editing by Anoop Menon)

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© ZAWYA 2022

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