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Geely seals deal as 49.9% shareholder in Proton

Mimi Sabreena 4:51:00 PM Informasi

KUALA LUMPUR (June 23): DRB-Hicom Bhd and China's Zhejiang Geely Holding Group Co Ltd today inked a definitive shareholders agreement to bring in the latter as the new 49.9% substantial shareholder in Proton Holdings Bhd for a total consideration of RM460 million.

Of the total consideration, Geely will provide a cash injection of RM170 million to Proton — unchanged from its previous announcement. The balance RM290 million will come from transfer of Geely's platform for its best-selling vehicle, the Boyue SUV, to the ailing automotive company.

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