Blue Safari Group $4 billion merger with Bitdeer Technologies
Davis Polk is advising Blue Safari Group Acquisition Corp. on its business combination with Bitdeer Technologies Holding Company. The transaction values Bitdeer at an implied enterprise value of approximately $4 billion. As a result of the transaction, the combined company is expected to be renamed Bitdeer Technologies Group and remain a publicly listed company on the Nasdaq Stock Market. The transaction, which is expected to be completed in the first quarter of 2022, is subject to, among other things, regulatory approvals, the approval by Blue Safari's shareholders of the transaction and satisfaction or waiver of other customary closing conditions.
Blue Safari Group Acquisition Corp. is a blank check company sponsored by BSG First Euro Investment Corp., a British Virgin Islands company, and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Bitdeer is a technology company for the cryptocurrency mining community headquartered in Singapore. Bitdeer handles complex processes involved in mining such as miner procurement, transport logistics, mining datacenter design and construction, mining machine management and daily operations.
The Davis Polk corporate team includes partner Howard Zhang and registered foreign lawyer Beiming Liu. The tax team includes counsel Alon Gurfinkel and associate Kelli A. Rivers. The litigation team includes partner Patrick S. Sinclair, associate Katy Choi and registered foreign lawyer Jing Kang. The intellectual property and technology transactions team includes partner Pritesh P. Shah and associate Hilary Smith. Members of the Davis Polk team are based in the Beijing, Hong Kong, London and New York offices.