Tikehau and Financière Agache join forces with Jean-Pierre Mustier to launch a Spac

Posted on Feb 15, 2019 2021 at 9:48Updated Feb 15, 2019 2021 at 14:58

After Tidjane Thiam, Matthieu Pigasse and Xavier Niel, or the investment bank Lazard, it is Jean-Pierre Mustier’s turn to launch his Spac. The former boss of UniCredit is preparing to launch a “Special purpose acquisition company” (Spac), in other words a listed vehicle dedicated to acquisitions. Concretely, the objective of these empty shells is to carry out in a relatively short time (often between 6 months and two to three years) acquisitions of unlisted companies which thus gain rapid access to the market without having to carry out a long process of ‘Initial Public Offering.

Named Pegasus Europe, the latest in the Spac galaxy, will have four sponsors in all. Jean-Pierre Mustier will be accompanied by Diego De Giorgi, former banker of Bank of America, for the operational. The entity will be mainly supported by Tikehau Capital (of which Jean-Pierre Mustier was a partner in 2015-2016) and by Financière Agache. The latter is one of Bernard Arnault’s holding companies (of which the group, LVMH, owns “Echos”) and has also been a minority shareholder of Tikehau Capital since 2006. “ On the announcement of the departure of Jean-Pierre Mustier from UniCredit [dont il a démissionné fin novembre , NDLR], Tikehau and Financière Agache contacted him because they were considering the opportunity to set up a Spac ”, explains a source close to the matter. “The project then became more precise both in terms of sector and geography. “

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