Financiers to list cash shell on EuronextBy Kate Burgess in London
January 31 2008 02:15
Shares in a new cash shell are to be listed on Euronext early next month with the aim of buying into a European company worth between €3bn ($4.45bn) and €5bn within two years.
Nicolas Berggruen and Martin Franklin, who completed the biggest takeover by a “blank cheque” acquisition company in the US last year, are seeking to raise €700m for a new European “blank cheque” company called Liberty International.
It will be the biggest “special purpose acquisition company”, or Spac, to be launched in Europe and marks a new phase in the spread of these publicly-listed shells which are designed to raise cash from investors and then identify a business to buy.
Read more >>> Financial Times article
Feb. 10, 2008 Update >>> Berggruen Holdings and Marlin Equities List €600 Million Liberty International on Euronext
