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– Expected to Close in the Second Half of 2022, Subject to SEC Process and Shareholder Approval –
NEW YORK--(BUSINESS WIRE)-- Cartesian Growth Corporation (“Cartesian”) (NASDAQ:GLBL), a publicly traded special purpose acquisition company, today announced that it has received the required pre-closing approvals from the applicable regulatory and governmental authorities in certain jurisdictions where Tiedemann Group (“Tiedemann”) and Alvarium Investments Limited (“Alvarium”) operate with respect to the previously announced business combination among Cartesian, Tiedemann and Alvarium. Upon closing of the transaction, the combined company will operate as Alvarium Tiedemann Holdings (“Alvarium Tiedemann - AlTi”) and will be listed on NASDAQ under the ticker symbol “GLBL,” consistent with Cartesian’s current listing. The successful closing of the transaction, expected in the second half of 2022, is subject to the satisfaction of customary closing conditions, including the registration statement being declared effective by the Securities and Exchange Commission (“SEC”) and shareholder approval.
"These pre-closing approvals are a crucial milestone as we continue to build a world-class wealth and asset management platform that serves clients all over the globe," said Michael Tiedemann, CEO of the Tiedemann Group. "We believe that we have the right team and strategy to capitalize on long-term trends that persist beyond recent market turbulence. The fundamentals of the constituent firms remain strong, and we believe they are positioned to advance our mission of being the trusted global advisor to multi-generational stakeholders through offering financial services, a differentiated suite of integrated capabilities, as well as impact and innovation opportunities.”
“We are energized by the progress Alvarium Tiedemann - AlTi has made as we approach the closing of the transaction,” Peter Yu, Chairman and CEO of Cartesian added. “Alvarium Tiedemann - AlTi has a unique vision and given the evolving needs of clients in this dynamic market, we believe the combined company is well-positioned to capture significant market share among high-net-worth families and foundations given its exceptional offering and global presence.”
Posted In: GLBL
