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Carousell, L Catterton SPAC Merger Talks End Amid Rout

  • Deal talks have recently ended without a merger agreement
  • The merger could have created a $1.5 billion listed entity
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Carousell Pte, a Singapore-based online classifieds marketplace operator, has recently ended talks to go public through a merger with blank-check company L Catterton Asia Acquisition Corp. amid market volatility, according to people familiar with the matter.

The special purpose acquisition company, which has been conducting due diligence on Carousell over the past few months, has not been able to reach a merger agreement with the Southeast Asian business, the people said, asking not to be identified because the matter is private.