Geely acquires Proton stake and all of Lotus

DRB-Hicom Berhad has signed an agreement for China’s Zhejiang Geely Holding Group (ZGH) to take a 49.9% equity in Malaysian carmaker Proton Holdings Berhad (Proton). DRB also sold its entire stake in Lotus Advance Technology to ZGH and Etika Automotive. The signing came 30 days after both parties signed a heads of agreement on the deal in Putrajaya.

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