Tetre Rouge Assets listed on London Stock Exchange
Thursday, 15 December 2022 at 9:45:00 UTC
SPAC lists on London Stock Exchange
Tetre Rouge Assets has listed on the Main Market of the London Stock Exchange and the special purpose acquisition company (SPAC) will invest in classic cars and motorcycles.
This is the first time that collectable vehicles have been recognised as an alternative asset class on a major stock exchange. Headed by Steven Schapera and André Ahrlé, Tetre Rouge is also joined by David Coulthard, Mika Hakkinen, and Allan McNish.
Tetre Rouge is looking to acquire exceptional high-end classic cars and motorcycles with a view to short- and long-term investment.
André Ahrlé, CEO of the company, said: ‘Our mission is to build a business that creates generational wealth through access to exceptional tangible assets, with full liquidity, and proper regulation. With this team, we are very confident we can achieve it.’
Mika Hakkinen added: ‘I’ve spent my whole life around cars, and I see immense value in investing in these tangible assets. Top-of-the-line cars and motorcycles, with a unique history, are known to be stable investments and are well insulated from the market’s volatility. I’m looking forward to putting my knowledge to good use and collaborating with the TRA team to offer more people the opportunity to diversify their asset portfolios.’