Deepti Sri · · 1 min readCarousell in talks for $1.5b SPAC deal for US listing
Online classifieds giant Carousell is in talks for a merger with blank-check company L Catterton Asia Acquisition Corp to list itself in the US, potentially valuing the joint entity at US$1.5 billion, Bloomberg reported.
L Catterton, a consumer-focused private equity firm, launched a special purpose acquisition company (SPAC) that raised about US$250 million in its initial public offering in February 2021.
While Carousell could take its company public through the merger with the SPAC as early as this quarter, the blank-check firm will carry out its due diligence on the classifieds company over the coming weeks.
Carousell has been exploring a listing via the SPAC route over the past year. Should it push through with the merger, Carousell will join the likes of Southeast Asian tech giant Grab, which chose the same route to list itself in the US last year.
See also: The leading Asian tech players eyeing an IPO in 2021 and beyond (Updated)
Editing by Collin Furtado and Lorenzo Kyle Subido
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