Tidjane Thiam’s special purpose acquisition company (SPAC) is holding deliberations with Mexico-based fintech Credijusto and CIAL Dun & Bradstreet to reach a deal that will merge all companies.
The deal, which is expected to be finalized before year-end will not only merge the firms but also automatically see them listed on the New York Stock Exchange.
Fintech Credijusto’s success and increased popularity with merchants in Latin America is the driver of the interest Thiam and his company have now shown in the firm.
According to a report, Thiam and his SPAC are impressed by Credijusto’s feat and sees great potential in merging Credijusto’s lending capabilities with CIAL’s expertise in data and analysis. Hopefully, this will allow for the disbursement of more loans to SMEs.
Should the deal work out, the firms will merge with Freedom Acquisition a blank cheque firm led by Thiam, and the combined firm will be valued at US$1.5 billion, have operations in a total of 43 countries, and limitless expansion possibilities.
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