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The Zaoui brothers ’trading partner has teamed up with several renowned European executives to create a company with a special goal of 300 million euros to invest in the region’s health and technology businesses.
The Odyssey Acquisition will list it on the Euronext exchange in Amsterdam, according to people familiar with the situation, as the main beneficiary of a post-Brexit change in the euro-denominated equity negotiation from London appears as the capital of Spac. Europe.
List the Spacs on the stock market and then go looking for a company that wants to join. Driven by a plethora of U.S. activities, they have raised nearly $ 110 billion this year from 381 listings this year, according to data provider Refinitiv, and there are more than 500 expected to make purchases. The European market is lagging behind: 18 Spacs alone have raised about $ 5 billion this year, according to Refinitiv.
After an 18-month hiatus, the activity continues slow down Since the so-called Pipe financing in the US – a crucial source of funding for empty companies to complete their purchases – has dried up.
Michael Zaoui is the president of Odyssey and his brother Yoël Jean Raby, the former CEO of Natixis Investment Management in Paris.
Michael Morgan was a former head of European mergers and acquisitions at Stanley, and while Yoël Goldman was head of global M&A at Sachs before the pair started on their own and founded the London-based investment banking boutique Zaoui & Co. In 2013.
Odyssey Zaoui & Co. will assist you at all stages of the negotiation until the goals are identified and finalized. Michel Combes, President of SoftBank International, and Michel Combes, CEO of the Sprint, Altice and Alcatel-Lucent telecommunications teams, will provide advice on telecommunications, the media and technology. For healthcare offerings, it will draw on the experience of Olivier Brandicourt, former head of the French pharmaceutical group Sanofi and a consultant for the Blackstone company.
“It’s an experienced team, and the European Spac market is underdeveloped compared to the U.S.,” said Peter Schoenfeld, founder of PSAM, a $ 3 billion hedge fund in New York that is buying Zaouis’s checkbook. company on the first day.
“As Europe emerges from the pandemic, I expect private companies to seek large-scale capital. The Odyssey Acquisition is in a position to deliver this capital more effectively than the traditional IPO process.”
Odyssey’s reason, the IPO by Goldman Sachs and JPMorgan, is to contribute to the development of European businesses at a time when the pandemic has accelerated behavioral changes and the digital transformation of entire industries.
At the crossroads between health and technology, European private companies worth more than a billion dollars in Europe are emerging. Such companies launching health insurance Alan; Doctolib, an online medical appointment management service linking patients and health professionals; and OngileAI, which develops the technology of artificial intelligence and computational medicine.
Spac creators attract potential grand prizes from a successful purchase goal. Vehicle sponsors often receive 20% of the shares for a nominal fee. Last week short seller Jim Chanos accused some of the company of taking the company to the public via “Spac” to “play” fast and loose with their projections ”in an effort to attract retail investors, it also has that drawn from the study U.S. Securities and Exchange Commission.
The 300 million euro measure would place Odyssey among the largest Spacs in Europe. In April, the white check company Created by Bernard Arnault, General Manager of LVMH and Jean Pierre Mustier, a former UniCredit chief, raised € 500 million to invest in European financial companies on the Amsterdam list.
Since its launch in 2013, Zaoui & Co has provided 225 billion euro transaction advice. Lately, him advised SoftBank British chip maker Arm Holdings for selling $ 40 billion to Nvidia, and the Peugeot family A $ 50 billion merger Between the French PSA and the Italian-American rival Fiat-Chrysler.
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