LONDON, July 15 (Reuters) - Former BP Plc Chief
Executive Tony Hayward will lead the listing of a $175 million
shell company aimed at investing in green energy projects in
Europe, a bank working on the deal said on Thursday.
The Special Purpose Acquisition Company (SPAC), named Energy
Transition Partners, will list in Amsterdam and focus on
investments in companies involved in efforts to decarbonise the
world's energy mix, the bank said.
Hayward will be chief executive of the firm.
SPACs are shell companies that raise funds through an
initial public offering to take a private company public through
a merger at a later date.
They are the latest craze in capital markets with record
amounts raised in the last year.
Hayward left BP in 2010 following the Gulf of Mexico
Deepwater Horizon disaster and became chairman of Glencore
.
(Reporting By Lawrence White)
Glencore (GLEN)
BP (BP.)
