Former Intesa CEO prices largest SPAC in Italian history

PA-Passera
By Sam Kerr
29 Jan 2018

SPAXS, the special purpose acquisition company (SPAC) of Corrado Passera, the former chief executive of Intesa Sanpaolo and a former Italian minister, attracted a rapturous reception from investors on Friday, allowing it to increase the fundraising to €600m at pricing.

The deal grew from an initial fundraising range of €450m-€500m. Credit Suisse and Banca IMI were the global coordinators on the trade with Equita SIM acting as a joint bookrunner.

“The deal went very well, the SPAC market is very hot right now,” said a banker on the ...

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