Vci Global Limited Announces Memorandum Of Agreement To Acquire A 70% Stake In Locus-T Sdn Bhd
Acquiring Company
VCI Holdings Limited
Acquired Company
70
Description
VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, or the “Company”) today announced it has signed a Memorandum of Agreement (“MOA”) which summarizes the principal terms of its proposed 70% acquisition of LOCUS-T Sdn Bhd (“LOCUS-T”) by V Capital Kronos Berhad (“V Capital Kronos”), a wholly owned subsidiary of VCI Global for a purchase consideration of Ringgit Malaysia Thirteen Million Four Hundred and Forty Thousand (RM13,440,000.00) (equivalent to approximately US$3,028,391, based on the exchange rate of US$1.00: RM4.4380 as at April 20, 2023). As part of the principal terms of the acquisition, V Capital Kronos will also be granted a first right of refusal to purchase the remaining 30% stake in LOCUS-T from its existing vendor should they decide to sell.
Quick answer
VCI Holdings Limited is acquiring 70, announced April 20, 2023.
- How much did VCI Holdings Limited pay for 70?
- The deal value was not disclosed.
- What does VCI Holdings Limited do?
- VCI Holdings Limited is involved in various sectors, though specific details are limited in this context.
- Who are the decision-makers at VCI Holdings Limited?
- Fundz holds 1 contact at VCI Holdings Limited. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
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Who to call at VCI Holdings Limited, and when
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Frequently asked
Who acquired 70?
70 was acquired by VCI Holdings Limited. The deal was reported on April 20, 2023. VCI Holdings Limited is involved in various sectors, though specific details are limited in this context. The company is part of a merger agreement aimed at creating a new publicly traded entity in the U.S. VCI Holdings Limited is publicly traded (VCIG) and operates in Information Technology.
When did VCI Holdings Limited acquire 70?
VCI Holdings Limited's acquisition of 70 was reported on April 20, 2023. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does 70 do?
70 is the company acquired in this transaction. It is privately held.
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