The Swiss shell company VT5 has been looking for a concrete takeover target for a long time. Now a candidate has been found.
VT5, the first and only Swiss special purpose acquisition company (Spac), is considering a merger with R&S Group, a supplier of electrical infrastructure components in Switzerland and international markets.
The company, which is listed on the SIX Swiss Exchange, has entered into exclusive negotiations regarding a possible merger with R&S Group, according to a media release Monday.
Long Sought Acquisition
R&S Group is headquartered in Sissach, Switzerland, between Zurich and Basel. Its six production sites in Switzerland, Italy, Poland, and the Middle East supply home markets and European export markets. VT5 aims to complete the transaction by the end of the year and is planning a capital increase, it added.
VT5 was listed on the SIX in December 2021 and established to find a suitable takeover candidate within one year and to bring it to the stock exchange through purchase or merger. This listing of a privately held company through an existing shell company is the strategy of Spacs.
