Majic Wheels Corp. completed the acquisition of CGCX Private Limited in a transaction valued at approximately $150 million.

Majic Wheels Corp. (OTCPK:MJWL) executed a binding letter of intent to acquire CGCX Private Limited on May 21, 2021. CGCX reported $150 million in revenues. Majic Wheels Corp. (OTCPK:MJWL) completed the acquisition of CGCX Private Limited in a transaction valued at approximately $150 million on June 30, 2021. As consideration, CGCX shareholders received restricted and preferred shares of Majic.