Look out Europe: a SPAC craze is around the corner

Teract SA

29/12/2020 09:53

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are his own.)
    By Christopher Thompson
    LONDON, Dec 29 (Reuters Breakingviews) - Such listings have
been big in America but rare across the pond, where they have a
bad rap. But a dearth of typical IPOs will keep investors keen.
French rainmakers Xavier Niel and Matthieu Pigasse have broken
the ice. Andrea Orcel, Ivan Glasenberg and others should take
note.  
    Full view will be published shortly.
    On Twitter https://twitter.com/CGAThompson
    
    CONTEXT NEWS
    - 2MX Organic, the Paris-listed special purpose acquisition
company led by French telecoms magnate Xavier Niel and banker
Matthieu Pigasse, said it had raised 300 million euros for
acquisitions among environmentally responsible consumer goods
companies, according to a statement on Dec. 7. 
    - While $63 billion has been raised through 190 SPAC
listings in the United States this year, according to Refinitiv
data, the only other attempt at a major European deal - Martin
Franklin's $750 million The Harvester Holdings - was cancelled
due to a lack of demand.  
    - European bankers are working on 10 separate listings of
SPACs, according to a Reuters report on Dec. 4 citing anonymous
sources.  
    - For previous columns by the author, Reuters customers can
click on  THOMPSON/ 
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2MX Organic prospectus     https://live.euronext.com/sites/default/files/2020-11/2MX%20Organic%20S.A.%20-%20Prospectus.PDF
Europe set to tiptoe into SPAC-land as shell company deal
pipeline builds       urn:newsml:reuters.com:*:nL8N2I6568
BREAKINGVIEWS - Regulatory loophole lets SPAC outlooks fly for
now       urn:newsml:reuters.com:*:nL1N2IG1YY
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 (Editing by Neil Unmack and Karen Kwok)
 ((Christopher.G.Thompson@thomsonreuters.com; Reuters Messaging:
Christopher.G.Thompson.thomsonreuters.com@reuters.net))