A team of lawyers from our global Tech team has advised Blockchain Coinvestors Acquisition Corp. I (BCSA), a special purpose acquisition company (SPAC), with respect to an agreement to acquire financial technology company Qenta Inc.
The transaction includes an implicit combined pro forma total enterprise value of approx. $622 million, assuming no shareholder redemptions.
Qenta is a global company that empowers the world’s citizens and businesses through its frictionless, accessible, secure and compliant financial ecosystem. With a vision to digitize all the world’s assets and transactions, the company started with a focus on the precious metals sector. By introducing Digitized Responsible Gold”, and multiple recognitions for ESG, innovation and Sharia compliance, Qenta brought gold into the digital age as an efficient store of value and gave it real utility as a medium of exchange.
Davey Brennan, partner and co-chair of global Tech at Gowling WLG, led the deal team on the transaction, which included Abby Parkin, associate (London), Alexandre Brazeau, partner (Dubai), Jon Parker, partner (Dubai), Simon Elliot, principal associate (Dubai), Samantha Yung, Senior Associate (Dubai), Joy Kadi, Associate (Dubai) and Beth Bloor, Associate (Dubai). The team was assisted by the firm’s network of best friend firms in Austria, Bosnia, Brazil, the Cayman Islands, Germany, Ghana, Pakistan and Switzerland. Our team worked closely with lead counsel Pillsbury Winthrop Shaw Pittman LLP and Perkins Coie LLP.
Davey said: “The acquisition involved a number of countries and time zones and was a fantastic transaction to work on alongside our US co-advisors. The deal is further evidence of our global technology capabilities and ability to handle multi-jurisdictional deals thanks to a combination of our brilliant people across our international platform operating as one team, and the strength of our country office network.”
Read the original article at GowlingWLG.com
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