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Swvl Inc. Announces Business Combination With Queen's Gambit Growth Capital

Deals & Cases
July 28, 2021
Swvl Inc. Announces Business Combination With Queen's Gambit Growth Capital Background Image
Deals & Cases
July 28, 2021

Vinson & Elkins advised Queen’s Gambit Growth Capital, the first special purpose acquisition company entirely led by women, in a definitive agreement for a business combination with Swvl Inc. (“Swvl”), a Dubai-based provider of transformative mass transit and shared mobility solutions, that would result in Swvl becoming a publicly listed company.

The transaction is to provide gross proceeds of up to approximately $445 million to the combined public company, including an upsized $100 million fully committed common share PIPE, led by global strategic and financial investors including Agility, Luxor Capital Group and Zain.

The V&E corporate team was led by partners Caroline Blitzer Phillips, Brenda Lenahan and Ramey Layne with assistance from associates Mariam Boxwala, Heather Brocksmith, Joe Milano, Alice Zhang, Victoria Bahrami-Negad, Waid Barfield, Julie Bontems, Nicole Cerullo and Tara Tegeleci. Also advising were partners Lina Dimachkieh and David Peck, senior associate Brian Russell and associates Jacob Walley and Olivia Sher; partner David D’Alessandro, senior associate Missy Spohn and associate Matt Green; partner Sean Becker and associate Peter Goetschel; partner Emilie Stewart and trainee solicitor Martin Bontea-Ungureanu; partners Fry Wernick, Jeff Johnston and Dave Johnson, counsel David Smith, senior associate Brian Howard and associates Alison Harmes, Tom Mitsch and Tyler Blake; partner Devika Kornbacher and associate Briana Falcon; counsel Sarah Mitchell; partner Maggie Peloso and associate Austin Pierce; and senior associate John Hughes and associate Arabella Robinson.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 11 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.

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