02:35 AM EDT, 04/28/2026 (MT Newswires) -- Maha Capital (MAHA-A.ST) signed a nonbinding letter of intent for a potential business combination with US-based special purpose acquisition company Blue Water Acquisition Corp. IV, or BWIV.

BWIV, which holds $130 million in cash, will acquire Maha's subsidiaries along with their respective assets and contracts, and form a publicly traded company that will be listed on the New York Stock Exchange, according to a Tuesday release. A deal will be negotiated based on Swedish financial products and technology company Maha's equity market cap of 4.52 billion kronor.

Maha and BWIV expect to close a deal in 90 days, subject to due diligence and regulatory approvals. Maha added that it intends to separate its fintech business from its pure-play Venezuela energy business into two independent entities.