Mustier says European Spacs ‘answer real need’ as Pegasus sets template

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The $100 billion raised by special purpose acquisition companies (Spacs) since the start of 2020 might be stoking fears of a speculative bubble in some quarters of the market.

However, for Jean Pierre Mustier, the former UniCredit chief executive who is among a team that is launching a European Spac, the structure has a credible future in a region lacking a deep and unified capital market.