A listed shell company promoted by venture capitalist Klaus Hommels plans to acquire travel portal HomeToGo in a deal that, if completed, would be the first of its kind to bring a company to the Frankfurt stock exchange, Reuters reports.
Hommels, founder of venture fund Lakestar, floated a SPAC in February with the goal of enabling a tech startup to stay in Europe rather than take the well-travelled route of listing in the United States, the news service noted.
Lakestar SPAC I raised 275 million euros ($333 million), saying it would seek to merge with a company worth between 750 million and 4 billion euros.
“Europe needs to create its own digital sovereignty to strengthen control of its tech innovations,” Hommels said of the proposed deal. Read more.
