Sircle Hospitality Group to go public via merger with SMG European Recovery SPAC.

Sircle Hospitality Group, an Amsterdam-based lifestyle hotels and hospitality holding group, is set to go public via merger with SMG European Recovery SPAC, a blank check company. The transaction values the combined company at a pro forma enterprise value of around €425m. The transaction is expected to close in the second quarter of 2024, and the shares of the combined company will be listed on the Frankfurt Stock Exchange (General Standard).