You wait three months for a European special purpose acquisition company (Spac) listing and then, like London buses, two turn up in quick succession.
On October 7, shares in Disruptive Capital Acquisition Corp (DCAC) – which is led by Edmund ‘Edi’ Truell and targets legacy pensions, insurance, asset management or related financial business in Europe – began trading on Amsterdam.
On October 14, GFJ ESG Acquisition SE, led by Gisbert Rühl, former chief executive of steel company Klöckner & Co, launched a €150 million placement of shares on the Frankfurt Stock Exchange and began hunting for a European tech company focused on supporting decarbonization.
The two are taking different investment approaches.
Rühl, who was behind the digital transformation of Klöckner from a traditional steel company to more of a platform business, is now joining a number of Spacs searching for growth in clean-tech.
The sponsor team points out that the path to net zero may...
Access this research
Enter your work email address to sign in or check whether your organisation already has access to Euromoney.
