Dubai Waste Firm Averda Said in Better World SPAC Merger Talks - Bloomberg
Dubai-based provider of waste-disposal services Averda is in talks to go public through a merger with Better World Acquisition Corp., a blank-check firm, according to people with knowledge of the matter, in what would be a rare deal involving a U.S.-listed SPAC and a Middle Eastern company.
The transaction’s size couldn’t immediately be learned. A deal, if reached, could be announced in coming weeks, one of the people said.
Averda representatives and a Better World spokesperson declined to comment.
Led by Chief Executive Officer Malek Sukkar, Averda is one of the largest waste management firms in the Middle East and Africa. The privately owned business has in the past considered an intial public offering and sold a 33% stake to Bahrain-based private equity firm Growthgate Capital in 2008.
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