LAST week, internet investment firm Catcha Group announced its proposal with automotive e-commerce platform Carsome Group to acquire the entire equity interest in iCar Asia Ltd in a transaction worth more than US$200 million (RM840 million). The deal involves Carsome acquiring a 19.9% stake in the Australia-listed iCar from Catcha Group, with the two parties subsequently making a joint proposal to acquire the remaining 80.1% stake in iCar. Upon completion of the merger between Carsome and iCar, Grove says the first development would be the presence of Carsome’s listings on iCar. In fact, he believes that it is more of a boon than a bane for both Carsome and iCar. It is hard to dismiss the synchronicity between the possible listing of the Carsome-iCar merged entity and Catcha Group’s US-listed SPAC, Catcha Investment.

Source: The Edge Markets July 27, 2021 06:56 UTC