L Catterton Asia SPAC to merge with Geely-owned Lotus EV unit
A US-listed special purpose acquisition company (SPAC) launched by L Catterton Asia has agreed to merge with Lotus Technology, an electric vehicle (EV) unit under the Lotus luxury car brand owned by Chinese automaker Geely Holding.
The deal gives Lotus Tech a pro forma enterprise value of USD 5.45bn, implying a revenue multiple of 0.9x based on projections for the 2024 financial year. Geely acquired a 51% interest in Lotus, a sports...
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