HERDEM advises Golden Falcon Acquisition Corp. in the SPAC merger with Turkey’s MNG Airlines in the transaction expected to have a pro-forma enterprise value of $676 million, assuming minimum gross transaction proceeds of $30 million, implying a 5.8x multiple on LTM Adjusted EBITDA as of 30 September 2022.
The proposed business combination, which has been unanimously approved by both the Board of Directors of Golden Falcon Acquisition Corp. and the Board of Directors of MNG Airlines, is expected to close in the first half of 2023, subject to approval by Golden Falcon Acquisition Corp.’s stockholders and other customary closing conditions.
