SPACs in France and in the European Union

This article originally appeared in Thomson Reuters’ Practical Law. Reprinted with permission. Any opinions in this article are not those of Winston & Strawn or its clients. The opinions in this article are the author’s opinions only.

The number of special purpose acquisition company (SPAC) listings has grown significantly in the US in the past decade with increased interest from European investors and sponsors. This increased demand has made SPACs attractive to the European market. While the US historically has dominated the SPAC market, the recent SPAC boom has saturated the US market and spurred a global SPAC market. The current legal and regulatory framework in France and the EU is helping to promote a European SPAC market. This article outlines the basics of a SPAC and the process from incorporation to the business combination with target companies or assets in France and the EU. It also discusses proposed regulatory changes and current market trends in France and the European SPAC markets, as well as the benefits of launching a SPAC in France or the EU.

Read the full article here (subscription required).