If completed, the deal would be the first blank-cheque merger in the city-state. Kacific’s valuation after a merger is expected to be about US$1 billion ($1.38 billion), according to one of the people. Terms including valuation are preliminary and talks could still break down, the people said.
Kacific Broadband Satellites Ltd. is in advanced talks to go public via a special purpose acquisition company, with Singapore’s Pegasus Asia Corp. the leading contender, according to people familiar with the matter.
Kacific, which provides high-speed internet access by satellite, has agreed to enter into exclusive negotiations with one SPAC after months of negotiations, giving the potential partner a few weeks to conduct due diligence and finalize a deal, said the people, asking not to be named as the matter is private. Pegasus Asia, led by Chief Executive Officer Neil Parekh, won the exclusivity in part because of its deep-pocketed backers and its location in Singapore, said one of the people.
