Multi-Jurisdictional Maples Team Advise Swvl Inc. on Business Combination with Queen’s Gambit Growth Capital
Maples and Calder, the Maples Group’s law firm, was pleased to advise Swvl Inc. (“Swvl”) on both the British Virgin Islands (“BVI”) and Cayman Islands legal aspects of a business combination with Queen’s Gambit Growth Capital, a Cayman Islands special purpose acquisition company, that resulted in Swvl becoming a publicly listed company. The latest transaction further highlights the law firm’s market-leading experience and comprehensive capabilities as its international teams continue to be selected to act as legal counsel on SPAC IPOs and subsequent business combinations throughout the US, Europe and Asia.
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Swvl is a long-standing client of the firm and is a provider of transformative mass transit and shared mobility solutions and the combined public company is expected to be the first US$1 billion plus ‘unicorn’ from the Middle East to list on NASDAQ. At the time of writing, Swvl is the only tech-enabled mass transit solutions company to list on any stock exchange.
Chris Newton, a Corporate Partner based in the firm’s BVI office led the BVI legal team with the assistance of fellow Corporate Partner, Ruairi Bourke and Chartered Legal Executive, Chloe Harris. Michael Johns, a Corporate Partner based in the firm’s Cayman Islands office also advised Swvl on the Cayman Islands legal aspects of the business combination.
Commenting on the transaction, Chris said, “We are delighted to have supported the team at Swvl over the past four years, from its incorporation as a start-up entity all the way through to this transaction. Transactions like this demonstrate the BVI’s suitability as a jurisdiction for innovative businesses such as Swvl”.
The Maples Group’s unique ability to provide British Virgin Islands, Cayman Islands, Jersey, Irish and Luxembourg legal advice through its international law firm, Maples and Calder, in addition to its capacity to provide a wide range of corporate services to SPAC-related entities through its fiduciary business, makes the Group the perfect choice for international businesses considering SPAC IPOs and business combinations.