Feb 14 (Reuters) – Blank-check companies backed by buyout
firm Warburg Pincus and billionaire real estate investor Barry
Sternlicht are in talks to take security services firm Allied
Universal public in a $20 billion deal, according to a source
familiar with the matter.
The deal will involve three special purpose acquisition
companies (SPACs) – Warburg Pincus Capital Corp I-A,
Warburg Pincus Capital Corp I-B and an affiliate of
Sternlicht’s JAWS Estates Capital LLC.
The SPACs are currently in talks to raise a so-called
private investment in public equity (PIPE), said the source,
asking not to be identified as the information was private.
A representative for Warburg declined to comment, while JAWS
Estates did not immediately respond to a Reuters request for
comment.
Allied Universal’s unique agreement highlights how several
SPAC sponsors are trying to come up with new structures and
alternative funding sources, as the charm…