ESGL and De Tomaso Extend Merger Agreement Term, Reaffirming Commitment to Business Combination

ESGL Holdings and De Tomaso Automobili have extended the term of their merger agreement to October 31, 2025, reaffirming their commitment to the business combination. The merger is currently in the later stages of Nasdaq review, with the closing anticipated to occur following Nasdaq approval. Both parties remain committed to unlocking new growth opportunities as a combined entity.

ESGL Holdings (NASDAQ: ESGL) and De Tomaso Automobili have extended the term of their merger agreement to October 31, 2025, reaffirming their commitment to the business combination. The merger is currently in the later stages of Nasdaq review, with the closing anticipated to occur following Nasdaq approval. Both parties remain committed to unlocking new growth opportunities as a combined entity.

The merger agreement extension comes as both companies continue to navigate the advanced stages of Nasdaq review. ESGL's CEO, Quek Leng Chuang, emphasized the potential for long-term shareholder value creation through the merger. Norman Choi, CEO of De Tomaso Automobili, echoed this sentiment, expressing the company's commitment to completing the merger and building a strong, value-driven public company together.

The extended term reflects the intent of both parties to proceed to closing and unlock new growth opportunities as a combined entity. De Tomaso Automobili, a historic Italian luxury sports car manufacturer, is known for iconic models such as the Pantera, Mangusta, and Vallelunga. ESGL Holdings Limited, a Singapore-based carbon-neutral enviro-tech company, is dedicated to transforming industrial waste into circular products.

The merger agreement extension underscores the strategic partnership between ESGL and De Tomaso Automobili. Both companies are committed to sustainability and innovation, with ESGL focusing on environmental solutions and De Tomaso on artisanal, coachbuilt manufacturing. The combination of these two entities is expected to create synergies that can drive growth and innovation in both sectors.

The extended merger agreement term provides additional time for both companies to complete the necessary regulatory reviews and integrate their operations. The closing of the merger is expected to occur promptly following Nasdaq approval, with both parties remaining optimistic about the potential benefits of the business combination.

References:
[1] https://www.stocktitan.net/news/ESGL/esgl-and-de-tomaso-extend-term-of-merger-agreement-reaffirming-amqb76avaz6x.html