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Funds News

Tidjane Thiam's SPAC in merger talks with Credijusto, CIAL Dun & Bradstreet - FT

Aug 6 (Reuters) - Former Credit Suisse CEO Tidjane Thiam's blank-check company Freedom Acquisition I Corp is in merger talks with Mexican fintech group Credijusto and Latin American corporate data provider CIAL Dun & Bradstreet, the Financial Times reported here on Friday.

The combined Credijusto-CIAL entity could be valued at around $1.5 billion and will be listed in New York later this year, the report said, citing people familiar with the matter.

Freedom Acquisition, Credijusto and CIAL did not immediately respond to a Reuters’ request for comment.

Thiam, who resigned as Credit Suisse chief executive officer last year after a spying scandal, had raised $345 million in March through an initial public offering (IPO) of Freedom Acquisition on the New York Stock Exchange.

The special purpose acquisition company (SPAC) is also in discussions with new and existing investors about investing more money in the deal through the private investment in public equity (PIPE) route, as per the report.

The combined company would have operations in 43 countries and, once the deal is complete, it will be expanded to other parts of the world such as the United States, Africa and the Middle East, FT said.

Reporting by Ann Maria Shibu in Bengaluru; editing by Uttaresh.V

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