DRB-Hicom, Geely finalising Proton deal details

PETALING JAYA: DRB-Hicom Bhd and China’s Zhejiang Geely Holding Group are still in the process of finalising details of the stake sale in Proton Holdings Bhd.

DRB-Hicom said in a statement today that the first priority for both parties is to formulate a solid business plan that can ensure Proton will be on a solid footing as it embarks on its new journey.

The statement was made with reference to various news reports on changes of key personnel at Proton.

DRB-Hicom signed a definitive agreement on June 23, 2017 to sell a 49.9% stake in Proton to Geely while its sports car unit Lotus will be sold to Geely and Etika Automotive.