Liberty Resources Acquisition announced today the creation of an M&A Transition Taskforce to support the business combination with Caspi Oil Gas and execution of pre and post transaction business plans.
Malaysia-based Liberty entered into a business combination with Caspi in December. Through a restructuring, the combined company would become the resultant amalgamated parent company and is expected to continue a listing on the Nasdaq.
“The formation of the M&A taskforce is an important milestone as we accelerate our plans and strategies,” Liberty CEO Dato’ Maznah Binti Abdul Jalil said in a statement. “It is important we lay the necessary foundation for a successful asset before the business combination is complete. This foundation is planned to enable the implementation of our project development and implement management structures to support these plans.”
The SPAC earlier this week filed a proxy for another extension to complete the deal. The SPAC is asking shareholders to push the deadline back to February 2024.
The transaction represents a proforma enterprise value of $427.7 million for Caspi. Read more.
