Seize agrees world’s greatest SPAC merger, valued at almost $40 billion By Reuters

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© Reuters. FILE PHOTO: A Seize brand is pictured on the Cash 20/20 Asia Fintech Commerce Present in Singapore

By Anshuman Daga

SINGAPORE (Reuters) – Southeast Asia’s greatest ride-hailing and meals supply agency Seize Holdings agreed a merger on Tuesday with U.S.-based Altimeter Progress Corp in a deal that values Seize at an preliminary proforma fairness worth of about $39.6 billion and can result in a public itemizing

The merger, the most important blank-check firm deal ever, underscores the frenzy on Wall Avenue as shell companies have raised $99 billion in the USA up to now this yr after a document $83 billion fundraising in 2020.

Singapore-based Seize’s settlement with a particular function acquisition firm backed by Altimeter Capital features a greater than $4 billion personal funding in public fairness by buyers together with BlackRock (NYSE:), Constancy Worldwide, Janus Henderson Buyers and Temasek Holdings.

Seize mentioned its determination to change into a public firm was pushed by robust monetary efficiency in 2020, regardless of the pandemic.

Reuters earlier reported that Seize would announce the deal on Tuesday.

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