Viernes, 22 Junio, 2018

Chinese automaker buys stake in Malaysia's Proton

Pic New Straits Times Pic New Straits TimesKUALA LUMPUR
Malita Javier | 23 Junio, 2017, 09:24

DRB-Hicom Bhd and Zhejiang Geely Holdings Group have signed the final agreement, which sees the latter acquiring 49.99% of auto manufacturer Proton and 51% of luxury sports vehicle brand Lotus.

Meanwhile, Syed Faisal said Zhejiang Geely - which also owns Sweden's Volvo Cars, London Taxi Company, LYNK & CO and the Geely Auto portfolio of vehicle brands - is the right partner for Proton.

Chinese billionaire Li Shufu said his Zhejiang Geely Holding Group will consider producing Lotus sports cars in China after agreeing to purchase stakes in Malaysian carmaker Proton Holdings Bhd and its British unit.

"From the agreement, we are also looking at moving Proton's plant completely to Tanjung Malim", he said.

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Con libertad condicional, el líder de las autodefensas reiteró que obedece los acuerdos impuestos por un juez de Uruapan. Aprovechó para agradecer a todos por las muestras de cariño y afecto que le llegaron por la situación presentada.

In a statement here, the company said, the acquisition was expected to be completed in three months, after which Geely would form a core management team recruited from a pool of global candidates to ensure the smooth operation of Proton.

Geely Holding Group is also paying $65 million for 51 percent of Proton-owned British sports vehicle maker Lotus.

Malaysian Prime Minister Najib Razak stands on stage waiting for a signing ceremony between Proton and Geely in Kuala Lumpur, Malaysia, Friday, June 23, 2017. Our partnership with DRB-Hicom will enable Proton to become the industry leader in Malaysia and a top three brand in Southeast Asia.

"With Zhejiang Geely making Proton their right hand-drive hub for the Asean region, Proton can now target the huge Asean passenger vehicle market for both our existing models and Geely's models". But he warned their revival will be hard in a highly competitive market.

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One of the three blocks found to have combustible cladding is on Camden Council's Chalcots estate, in north London . A public inquiry has also been launched and " no stone will be left unturned ", May promised Thursday.

"Their success with Volvo and London Taxi Company, and of course with their own Geely Auto brands demonstrates their capabilities both as a bonafide carmaker and as a partner".

Najib said Geely had, over the last ten years, quietly but successfully emerged as a major player in the automotive market.

Under the Proton stake sale deal, DRB-Hicom will pay off Proton's syndicated loan amounting 530 million ringgit and build a test track for 180 million ringgit, Syed said.

"This new chapter in Proton's journey is an example of the forward-looking Malaysia we are building", he added.

Boeing, Airbus in dogfight over orders at Paris Air Show
The leasing arm of China Development Bank signed agreements to buy airliners from both Airbus and Boeing . But asked earlier if Airbus had lost momentum, Leahy said orders had been expected to be lower this year.

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