VCI Global Limited (VCIG), Monday announced a legally binding term sheet to acquire a 51 percent controlling equity interest in RTCAR Comercializadora de Suministros Automotrices, S.A. de C.V., an automotive assembly and manufacturing platform.
The transaction is expected to provide VCI Global with an immediately operational, scalable industrial base to support high-volume production for a leading global automotive original equipment manufacturer expanding its footprint in North America.
The deal is also estimated to diversify the company's earnings base toward asset-backed, recurring industrial revenue.
The first delivery is anticipated in the fourth quarter of 2026, the company added.
In the pre-market hours, VCI is moving down 4.29 percent, to $0.61 on the Nasdaq.
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