DRB-Hicom to complete Proton's stake disposal exercise by mid-2017

SETIA ALAM: Conglomerate DRB-Hicom Bhd aims to complete Proton Holdings Bhd's stake disposal exercise by the middle of next year.
Speaking to reporters after the launch of new Proton Saga here today, Group Managing Director Datuk Seri Syed Faisal Albar Syed Ali Rethza Albar said currently, the group was studying proposals from five potential buyers.
"We are at the stage of understanding their strategic proposals where we will be meeting up with them for more deeper discussions to understand what they can offer before we can decide how much stake we are willing to give up.
“We hope to identify the potential partner by next year and complete the exercise at least by the middle of next year. However, we will strive to conclude the deal by the first quarter,” he said.
Syed Faisal said there were three main categories that would be taken into consideration in deciding the strategic partner, namely strategic, operational and cultural. — Bernama