There are rumors going around that Dubai’s waste disposal services company Averda is in talks to go public via a SPAC merger with blank check firm Better World Acquisition Corp (BWAC). The exact size of the deal is still up in the air, but sources say a deal could be announced in the coming weeks.

Averda was founded in 1964 and is the leading waste management and recycling company in the developing world, with more than 60,000 clients in the private and public sectors across the Middle East, Africa, and India. Averda focuses on providing sustainable solutions for extracting value from waste.

Better World Acquisition Corp went public in an IPO back in November of 2020 where it raised $126m. The special purpose acquisition company focuses on making deals in “healthy living industries” that benefit from strong ESG profiles.