HomeToGo seals merger with Lakestar SPAC in German stock market first

BERLIN (Reuters) – Travel tech startup HomeToGo on Wednesday became the first company to seal a deal to float on the German stock market by merging with a listed shell company, as it tied up with venture capitalist Klaus Hommels’ Lakestar SPAC I.

The merger puts an equity value of 1.2 billion euros ($1.4 billion) on HomeToGo, a Berlin-based marketplace for vacation rentals that connects travellers with online travel agents and independent landlords. ($1 = 0.8475 euros)

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