France’s richest man, Bernard Arnault, and former UniCredit chief Jean Pierre Mustier plan to list another “white check” company, also known as SPAC, raising € 200 million, according to Reuters, citing the managers of the offer book.
Earlier this year, the “duo” raised 0.5 billion euros through the special purpose acquisition company (SPAC) Pegasus Acquisition Company Europe BV, which is looking for “acquisition targets” in the financial sector.
On Tuesday, the same group of investors announced that they will introduce a second “vehicle”, the Pegasus Entrepreneurial Acquisition Company Europe, on the Amsterdam Stock Exchange, which will focus on the business sector.
SPACs are companies listed on a stock exchange by a group of entrepreneurs, with the aim of acquiring a private company with the funds they raise when they are listed on the board. In this way they provide the target company with the opportunity to be listed on the stock exchange avoiding the laborious process of public listing.
Mustier is working with former Bank of America banker Diego De Giorgi and SPACs investor Pierre Cuilleret on the € 200 million listing of Pegasus Entrepreneurial Acquisition Company Europe.
Cuilleret said he would focus on companies controlled by entrepreneurs or families.
Pegasus is supported by institutional “sponsors” such as Tikehau Capital and Financière Agache and by “sponsors” De Giorgi, Cuilleret and Mustier. Citi, Goldman Sachs and BNP Paribas are the book managers.
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Source From: Capital
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