Luxembourg-based SMG European Recovery SPAC SE has entered into a non-binding letter of intent with Sircle Hospitality Group Ltd., Larnaka, Cyprus for a potential business combination.
Sircle owns and operates hospitality assets across several European countries.
The transaction would involve the existing shareholders of Sircle rolling 100% of their equity and equity equivalents into the merged enterprise in exchange for new shares in the company. The combined entity would be listed on the Frankfurt Stock Exchange. Read more.
