Former Bulgari Chief’s SPAC Merging with Comparison Site Supermoney in $215M Deal

Supermoney and Dutch VAM SPAC have signed a binding accord aimed at taking the online price comparison provider public, the companies said.

Shareholders of Supermoney, which offers price comparison and technology services mainly in the energy, gas and telecoms sectors, will buy a majority stake in VAM SPAC, which in turn will take 100% of the broker's capital.

The companies said that Supermoney's equity was valued at 200 million euros ($215 million) before a planned capital increase.

Amsterdam-listed VAM SPAC will change its name to Supermoney Holding and become a joint-stock company on completion of the deal, which is expected by July 21.

VAM SPAC is backed by VAM Investments, a firm led by Chief Executive Marco Piana and chaired by former Bulgari CEO Francesco Trapani, Reuters reports. Read more.

Source: Former Bulgari Chief's SPAC Merging with Comparison Site Supermoney in 5M Deal