The Latest SPAC News and Rumors: June 18, 2021


The Latest SPAC News and Rumors: June 18, 2021

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: Malaysia’s Carsome mulls merger with U.S. SPAC, Paris Plays Catch-Up With Frankfurt in SPAC Race, and European companies compete in SPAC race

Malaysia’s Carsome Weighs U.S. Listing With SPAC as Option

Online used car platform Carsome Sdn. is weighing going public in the U.S. in a deal that would make it Malaysia’s first unicorn, people with knowledge of the matter told Bloomberg.

The startup is working with advisers and is seeking a valuation of approximately $2 billion, which could be a merger with a SPAC or a conventional IPO, said sources. A deal to take the company public could take place as soon as the end of the year.

Kuala Lumpur-based Carsome is conducting a pre-IPO funding round that aims to raise about $150 million.


Paris Plays Catch-Up With Frankfurt in SPAC Race

Paris-based investment banker Erik Maris, who co-founded boutique Messier Maris, plans to raise up to 245 million euros for a SPAC dubbed Transition, targeting green energy producers. His announcement came a day after entrepreneur Marc Menasé unveiled Paris’s first e-commerce SPAC, called DEE Tech, seeking to raise a maximum of 195 million euros.

Despite shares in 2MX Organic, the shell belonging to French billionaire Xavier Niel and ex-Lazard banker Matthieu Pigasse, soaring on their debut last year, Gallic SPACs have been a rarity.

Only one 300 million euro deal, backed by hotel group Accor, has come to market so far in 2021. The latest flurry puts Paris on par with Frankfurt by deal count, but still trails Amsterdam, according to Reuters.


UK Financial Services Group True Potential Mulls $2 Billion SPAC After JPMorgan Buys Nutmeg

Leading UK wealth management firm True Potential is mulling a potential $2 billion SPAC float just a day after JPMorgan bought the Nutmeg platform for £700 million.

Credit Suisse is working on plans to merge True Potential with a SPAC to propel it onto the US stock exchange, sources told the Evening Standard.


Germany’s 468 SPAC to Acquire Children’s Entertainment Firm Boxine

German blank check firm 468 SPAC said on Thursday it had entered exclusive negotiations to buy children’s entertainment firm Boxine for about 1 billion euros or $1.2 billion.

468 SPAC, which was set up by German tech entrepreneurs, has signed a letter of intent that includes raising 100 million euros through a PIPE for Boxine, it said.