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Seize to announce merger with U.S. SPAC, to be valued at practically $40 billion 

© Reuters. FILE PHOTO: A Seize brand is pictured on the Cash 20/20 Asia Fintech Commerce Present in Singapore

By Anshuman Daga

SINGAPORE (Reuters) – Southeast Asia’s largest ride-hailing and meals supply agency Seize Holdings is ready to announce afterward Tuesday a merger with U.S.-based Altimeter that’s set to worth Seize at practically $40 billion and result in a public itemizing, three folks instructed Reuters.

The merger will make it the largest blank-check firm deal ever.

Seize’s settlement with a particular objective acquisition firm (SPAC) backed by Altimeter Capital features a $4 billion personal funding in public fairness (PIPE) from a gaggle of Asian and world traders together with Constancy Worldwide and Janus Henderson.

Singapore-based Seize declined to remark. There was no response from Silicon Valley-based Altimeter to an emailed request for remark.

The 2 fund managers additionally didn’t reply to an emailed question.

The sources declined to be recognized because of the sensitivity of the matter.

The practically $40 billion valuation relies on a proforma fairness worth, two of the sources stated.

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