Global Blue to merge with Far Point Acquisition Corporation
On January 16, 2020, Global Blue, a leading Swiss-based tax refund business, announced that it will become a publicly traded company on the New York Stock Exchange through a merger with Far Point Acquisition Corporation (NYSE: FPAC), a special purpose acquisition company co-sponsored by the institutional asset manager Third Point LLC and former NYSE president Thomas W. Farley. New investors, anchored by Ant Financial Services Group, a member of the Alibaba digital economy and operator of the world's leading payment and lifestyle platform Alipay, and Third Point have committed to invest a total of USD 350 million in the combined company at a EUR 2.3 billion enterprise valuation in the form of a private placement.
Lenz & Staehelin advises Ant Financial Services Group on Swiss law matters. The team comprises partner Tino Gaberthüel and associates Simone Ehrsam and Iliana Djagova.