Ravi Thakran's SPAC plans merger with aviation business
A special purpose acquisition company (SPAC) launched by Ravi Thakran, formerly head of L Catterton’s Asia operation, plans to merge with Wheels Up – a US-based aviation business described as Uber for private jets – at a valuation of $2.1 billion.
The SPAC, Aspirational Consumer Lifestyle Corp, which raised $240 million towards the end of last year, will take an 8.8% interest in the merged entity, while the SPAC sponsor will hold 2.2%. Sponsors...
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