ESGL Holdings Limited announced on March 04, 2025, the signing of a definitive share purchase agreement to acquire the entire issued share capital of De Tomaso Automobili Holdings Limited. The acquisition will be executed through the issuance of newly issued ordinary shares of ESGL, subject to certain closing conditions.
This transaction has received unanimous approval from the directors of both ESGL and De Tomaso Automobili. The business combination is anticipated to close in the second quarter of 2025, pending necessary approvals and customary closing conditions.
Quek Leng Chuang, CEO of ESGL, stated that this partnership is a strategic step to deliver long-term shareholder value by strengthening financial positioning, diversifying the portfolio, and unlocking new revenue streams. Norman Choi, CEO of De Tomaso Automobili, noted that leveraging ESGL’s expertise in low-impact manufacturing could enhance vehicle production and expand global market presence.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.