Two Firms Guide $656 Million SPAC For Business Services Company

Norton Rose Fulbright is advising global professional services and consulting firm Aeries Technology on its proposed go-public merger with a US special purpose acquisition company.

Shearman & Sterling is representing Worldwide Webb Acquisition Corp. on the transaction, which calls for the Orem, Utah-based SPAC to merge with Mumbai, India-founded Aeries Technology and its parent company, Aark Singapore Pte Ltd.

At the transaction’s expected close in the third quarter, the combined company, re-named Aeries Technology, Inc., will be listed in the US. The deal values the combined company at a $656 million market capitalization, according to an SEC filing.

Aeries Technology’s website says it provides business process management, digital transformation and other technology services aimed at top management and other leadership of businesses including private equity sponsors and portfolio companies. Aeries says its clients include e-commerce company Digital River, utilities and telecom infrastructure company Sabre Industries, and Dutch business travel management company BCD Travel, among others.

Shearman said its team advising Worldwide Webb Acquisition Corp. is led by M&A partner Alain Dermarkar, capital markets partners Ilir Mujalovic and Bill Nelson, and tax partner Todd Lowther.