Branson plots $3bn merger to take Virgin Orbit on to US stock market
- Date: 12-Jun-2021
- Source: SkyNews
- Sector:Financial Markets
- Country:Middle East
Branson plots $3bn merger to take Virgin Orbit on to US stock market
Sir Richard Branson is in advanced talks about a multibillion dollar merger to take Virgin Orbit, his satellite launch company, on to the US public markets.
Sky News can reveal that Virgin Orbit is close to finalising a deal to combine with NextGen Acquisition II, a special purpose acquisition company (SPAC) set up by George Mattson, a former Goldman Sachs banker.
Sources said this weekend that NextGen II was in exclusive talks with Sir Richard's Low Earth Orbit satellite business, which is 80%-owned by the tycoon's Virgin Group empire.
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