(Reuters) – Company flotations via so-called blank cheque firms, or SPACs, took U.S. markets by storm last year but Europe has been slow to embrace the way to list and traditional initial public offerings (IPOs) still dominate.
European SPACs have raised $6.6 billion so far this year, according to Refinitiv data. While that’s up from just $500 million in 2020 it’s still only about 5% of the value of the SPAC deals done in the United States in 2021.
Here are some of the larger European SPAC deals this year:
PEGASUS EUROPE
Raised 500 million euros ($586 million)
Launched by France’s richest man Bernard Arnault and former UniCredit Chief Executive Jean Pierre Mustier
Listed in Amsterdam on April 29
Aims to buy a financial services company
EFIC1
Raised 415 million euros
Launched by former Commerzbank chief executive Martin Blessing
Debuted in Amsterdam on March 26
Aims to acquire a financial services company
HEDOSOPHIA EUROPEAN GROWTH
Raised 400 million euros
Launched by British technology investor Ian Osborne
Listed in Amsterdam on May 14
Aims to buying a technology company in Europe
468 SPAC
Raised 300 million euros
Launched by German venture fund founder Alexander Kudlich
Listed in Frankfurt on April 30
To merge with children’s entertainment firm Boxine for about 1 billion euros
ACCOR ACQUISITION COMPANY
Raised 300 million euros
Launched by Europe’s biggest hotel group Accor
Listed in Paris on June 1
Targets acquisitions in the leisure, lifestyle and food sectors
LAKESTAR
Launched by German tech investor Klaus Hommels
Raised 275 million euros in its IPO
Listed in Frankfurt on Feb. 22
Merged with German travel tech startup HomeToGo which started trading on the Frankfurt stock market on Sept. 22.
I2PO
Launched by French billionaire Francois Pinault and banker Matthieu Pigasse
Raised 275 million euros
Listed in Paris on July 20
Aims to acquire a company operating in the entertainment or leisure sectors
ESG CORE INVESTMENTS
Raised 250 million euros
Launched by Dutch family-owned investment firm Infestos
Listed in Amsterdam on Feb. 12
Aims to acquire a European company focused on sustainable development
TRANSITION
Raised 215 million euros
Launched by French businessman Xavier Caitucoli and former investment banker Erik Maris
Listed in Paris on June 22
Aims to acquire one or more firms recognised in the energy transition sector and headquartered in Europe
DEE TECH
Raised 165 million euros
Launched by French businessmen Marc Menase, Michael Benabou and Charles-Hubert de Chaudenay
Listed in Paris on June 25
Aims to acquire a technology company
($1 = 0.8536 euros)
(Reporting by Anait Miridzhanian; Additional reporting by Pawel Goraj; Editing by David Clarke)
