Cohen Circle Acquisition Corp. I, a special purpose acquisition company listed on the Nasdaq under the symbol CCIRU, recently disclosed the signing of a letter of intent (LOI) with VEON Ltd. (Nasdaq: VEON), a global digital operator, through a joint press release. This move is aimed at facilitating a business combination with the objective of indirectly listing Kyivstar, VEON’s digital operator in Ukraine, on the Nasdaq Stock Market LLC in the United States.
The LOI outlines that following the completion of the Business Combination, it is expected that VEON will retain a minimum 80% majority stake in the publicly listed entity resulting from the transaction. While additional specifics regarding the Business Combination are anticipated to be announced post the finalization of a definitive agreement by the second quarter of 2025, certain conditions must be met, including board approval from both VEON and Cohen Circle, endorsement from Cohen Circle’s shareholders, regulatory consents, and customary closing conditions.
The disclosed LOI enables VEON and Cohen Circle to explore a business combination between VEON Holdings B.V. and Cohen Circle, with the intention to indirectly list Kyivstar, a subsidiary of VEON Holdings, on the Nasdaq. As part of the preparatory phase for the Business Combination, VEON is commencing a reorganization of VEON Holdings via a Dutch legal demerger expected to be concluded by March 2025.
It is essential to note that this press release contains forward-looking statements. VEON and Cohen Circle have emphasized that uncertainties and significant factors might affect the actual achievements or results compared to the future undertakings stated in the release.
The mentioned Business Combination is subject to the completion of a definitive agreement, approval from the concerned boards and shareholders, regulatory authorizations, and other standard closing conditions.
Press release details and additional supplementary information regarding the demerger process and consent solicitation are available on VEON’s official website.
No invitations or solicitations concerning securities or the proposed Business Combination have been made via this press release, and no sales will occur where such actions are prohibited under securities laws without appropriate registration or qualification.
For further information, please contact VEON at [email protected] or [email protected]
(END OF ARTICLE)
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Cohen Circle Acquisition Corp. I’s 8K filing here.
