Chinh Chu, who lead the 2016 $600 million CF Corporation, looking to file SPAC #2
U.S. News and World Report just released an article stating that Chinh Chu, a former Blackstone Group dealmaker, has partnered with Pinnacle Foods Chairman Roger Deromedi, for a new SPAC focused on the consumer sector.
The SPAC is reportedly expected later this year and Chu, Deromedi and Jason Giordano (another ex-Blackstone colleague on the team), have already hired investment banks. Deal size is rumored to be in the $500 million range.
This would be Chinh Chu’s second SPAC, following the $600 million CF Corp., which bought U.S. annuities and life insurer Fidelity & Guaranty Life in a deal worth around $1.84 billion.
You can read the full article here.
Any guesses as to which banks are going to underwrite this one? If CF Corp. is any indication, Citigroup, Credit Suisse and BofA were on the cover. Sounds like a nice line-up for SPAC #2.