First Amsterdam listing for Guernsey SPAC

Germany1 intends to acquire one or more operating businesses based in Germany, Austria or Switzerland, at valuations between €1.0bn and €3.0bn. The SPAC structure exists to enable public investors to undertake private equity-type investment. The Germany1 initial public offering raised €250m from an investor base including family offices and mutual funds. The flotation was advised by Guernsey law firm Carey Olsen. Difficult market conditions have meant the SPAC structure has not yet taken off in Europe, although it is seen as mainstream in the US. Peter Niven, chief executive of Guerns...