Indonesian Travel Startup Considers $2 Billion SPAC Deal
- Tiket.com is in talks with Crescent Cove’s COVA Acquisition
- Goldman Sachs advising Tiket, part of business empire Djarum
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Indonesian online travel company Tiket.com is exploring going public through a merger with a special purpose acquisition company as it seeks to expand its business, according to people with knowledge of the matter.
The startup is in talks with COVA Acquisition Corp. for a deal that would value the combined entity at about $2 billion, according to the people, who asked not to be identified because the talks are private. Goldman Sachs Group Inc. is advising Jakarta-based Tiket, which is valued at more than $1 billion and owned by diversified Indonesian conglomerate Djarum Group, they said.