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Euromoney Middle East's best bank for advisory 2021: Citi euromoney.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from euromoney.com Daily Mail and Mail on Sunday newspapers.
Grab to take Spac route for a $40 billion listing in US PUBLISHED BY Grab, south-east Asia’s super app that provides a wide array of services from food deliveries to digital payments is planning to list in the US through a special purpose acquisition company. It will raise $4.5 billion in cash to go public in a deal that will push its values to $40 billion. SoftBank-backed Grab was founded in 2012 and is the most valuable startup of the region. It will combine with the New York-listed Spac launched by Altimeter, a Silicon Valley group. Through the deal, the $4 billion of private investment through a public equity arrangement. ....
Grab, south-east Asiaâs most valuable start-up, has agreed to the largest-ever merger with a special purpose acquisition company, raising $4.5bn in cash to go public in a US deal that will value its shares at close to $40bn. Grab was founded in 2012 as the regionâs answer to Uber and morphed into a superapp that provides everything from food delivery to digital payments. It will combine with a New York-listed Spac launched by Altimeter, a Silicon Valley firm known for its backing of late-stage technology companies. The deal, which marks a significant moment for south-east Asian start-ups as well as the booming market for Spacs, shatters the record for the largest-ever merger by a blank-cheque vehicle as hundreds of competing entities search for private targets. ....
Mick Davis joins Spacs bandwagon as frenzy continues telegraph.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from telegraph.co.uk Daily Mail and Mail on Sunday newspapers.
Bernard Arnault helps Europe jump aboard the Spac bandwagon The market for blank cheque firms has got off to a slow start on this side of the Atlantic – but it is growing 17 February 2021 • 6:00am Bernard Arnault, one of the world’s wealthiest men, amassed his fortune through savvy M&A deals over a four-decade-long career, so it should come as little surprise that the LVMH boss is taking the European lead on the latest dealmaking craze: special purpose acquisition vehicles – or “Spacs”. Spacs are types of “blank cheque” firms typically listed as a cash shell on a stock exchange with a promise to swoop on a takeover target. ....