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Finland's first SPAC looks for a firm with "strong ties" to country

Finland's first SPAC aims to identify and acquire a company with strong long-term growth and profitability potential and "strong ties to Finland".

Photo: Pexels: Tapio Haaja.

Two members of Finland's Ehrnrooth family have established the first Special Purpose Acquisition Company (SPAC) in Finland, which is expected to be listed in mid-June.

The company, Virala Acquisition Company (VAC) has already secured investments worth EUR 26m from Visio Asset Management and five family companies Ahlstrom Invest, Jussi Capital, Julius Tallberg, GW Sohlberg and Hammarén & Co, reports Kauppalehti.

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