LONDON : SPEAR Investments I, a special purpose acquisition company (SPAC), is in advanced discussions to acquire QEV Technologies, a Spanish electric vehicle firm, at a valuation of 209 million euros ($234 million), the companies said on Thursday.The deal will see QEV Technologies, which recently won a
LONDON : SPEAR Investments I, a special purpose acquisition company , is in advanced discussions to acquire QEV Technologies, a Spanish electric vehicle firm, at a valuation of 209 million euros , the companies said on Thursday.
The deal will see QEV Technologies, which recently won a tender to operate a former Nissan manufacturing facility in Barcelona, merge into SPEAR Investments I and trade on the Amsterdam bourse. It will come as a boost to the bruised SPAC market, after many acquisition vehicles launched in the dealmaking rush that followed the COVID-19 pandemic have been forced to return money to investors after struggling to find targets.
SPEAR Investment I, backed by corporate finance houses STJ Advisors and AZ Capital, listed in Amsterdam in late 2021. Last week, it extended a deadline to strike an acquisition to mid-August. The planned merger will see QEV Technologies' existing shareholder Inveready make a further investment in the company alongside new investors to help support its growth.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Leipzig sign Dutch midfielder Simons on one-year loan from PSGGermany's RB Leipzig have signed Netherlands midfielder Xavi Simons on a one-year loan from French champions Paris St Germain, both clubs said on Wednesday.The 20-year-old returned to PSG on Wednesday, signing a four-year contract following a year at Eredivisie side PSV Eindhoven.In the Netherlands
Read more »
Dutch urge stricter digital coins, videogame loot boxes EU rulesBRUSSELS: The European Commission should better protect children with stricter consumer rules for digital coins and videogame loot boxes, the Dutch government said, according to a discussion paper seen by Reuters on Wednesday (Jul 19). The EU executive late last year sought feedback on whether to overhaul
Read more »
ASML to hire 100 researchers leaving PhilipsAMSTERDAM : Dutch semiconductor equipment maker ASML will hire 100 researchers who are leaving Philips, the companies said on Tuesday.The hires were first reported by Dutch newspaper Het Financieele Dagblad.ASML was founded as a joint venture between Philips and ASM International in 1984 and has be
Read more »
EU courts further controversy by adding mining to green rulebookIt wants to make sure it has enough resources to boost clean technologies. Read more at straitstimes.com.
Read more »
'Hurt' de Vries breaks silence after AlphaTauri exitNyck de Vries spoke on Wednesday of his hurt at losing his AlphaTauri Formula One seat to Australian Daniel Ricciardo after only 10 races and before he got a chance to race at his home Dutch Grand Prix.The 28-year-old was dropped by the Red Bull-owned team last week and replaced by eight times grand prix
Read more »
ASML ups full-year sales forecast as China demand stays strongAMSTERDAM : Dutch semiconductor equipment maker ASML reported second-quarter earnings that beat expectations on Wednesday and boosted its full-year sales outlook, citing strong demand from Chinese customers.Peter Wennink, CEO of Europe's biggest tech company by market value, increased ASML's full-year sal
Read more »