Exela surges on $220 million SPAC deal to take European arm public

XBP Global Holdings

10/10/2022 14:08

** Shares of business process automation provider Exela
Technologies Inc  XELA.O  up 13.5% at 42 cents premarket
    ** Exela's European arm XBP Europe aims to list in the U.S.
by merging with a blank check firm CF Acquisition Corp VIII
 CFFE.O , companies said in a joint statement on Monday  
    ** Exela will indirectly own a majority of the combined
company called XBP Europe Holdings Inc and will list on Nasdaq
under the symbol 'XBP' 
    ** Transaction values XBP Europe at $220 million, including
debt
    ** XELA, CFFE shares halted earlier on Monday 
    ** Deal expected to close in the first half of 2023
 (Reporting by Mehnaz Yasmin in Bengaluru)
 ((Mehnaz.Yasmin@thomsonreuters.com))