Tidjane Thiam, former CEO of Credit Suisse and now responsible for a blank check company, is negotiating with the Mexican fintech group Credijusto to go public in the New York Stock Exchange.
The idea is to merge Credijusto with corporate data provider CIAL Dun & Bradstreet and, together, hit Wall Street by the end of 2021.
Blank check companies are entities that do not have a specific business purpose and their business model is focused on participating in a merger or acquisition with other companies.
The kind of companies like the ones you run Tidjane thiam They go public as a Special Purpose Purchasing Company (SPAC), that is, with the intention of raising capital for the potential merger or acquisition of a future company or start-up. In this case, Credijusto.
The news was published by the Financial times, saying that the CEO of Credit Suisse targets Credijusto for “its rapid growth among small companies in Latin America.”
The idea is to combine Credijusto’s creditworthiness with CIAL’s data and analytical capacity to accelerate the growth of loans to small and medium-sized companies in Mexico and the rest of Latin America.
If the Spac merger is successful, Credijusto founders David Poritz (32 years old) and Allan Apoj (31) would continue to lead their business.