The blank cheque company set up by the former chair of European banking at Barclays has signed a deal to take logistics and transport company, MNG Airlines public.

The special purpose acquisition company called Golden Falcon Acquisition Corp was unveiled in December 2020 with a number of big-name finance executives at the helm. It raised $345m through an IPO and has now announced plans to merge with MNG, with an enterprise value of $676m. The deal is expected to complete in the first half of 2023 and will see the company listed on the New York Stock Exchange.