“Indonesian online travel company Tiket.com is exploring going public through a merger with a special purpose acquisition company (SPAC) as it seeks to expand its business,” Bloomberg reported, citing sources familiar with the matter.

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Tiket is negotiating with Cova Acquisition Corp. for the potential deal, which is expected to push the valuation of the merged entity to US$2 billion. Goldman Sachs is advising the online travel startup, according to the sources.As part of the deal, Tiket may also raise about US$200 million through a private investment in public equity (PIPE).