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New Deal


Announced

ZG Group to go public via a SPAC merger with Aquila Acquisition in a $1.27bn deal.

Financials

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Transaction Value£1,001m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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De-SPAC

Private

Single Bidder

Private Equity

Pending

Friendly

Acquisition

Merger

Reverse Takeover

online platform

Online and Social Platforms

China

B2B Commerce

steel trading

Domestic

Synopsis

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ZG Group, which operates a website for steel transactions, agreed to go public via a SPAC merger with Aquila Acquisition, a blank-check company, in a $1.27bn deal. The companies expect the deal to close in the fourth quarter. ZG Group will still need to file a new listing application with the Hong Kong exchange, meaning that it also needs a green light from China's securities regulator for the listing.

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