How much did Geely pay for Proton?
In September Chinese carmaker Zhejiang Geely Holding Group bought a 49.9% stake in Proton Holdings in a deal valued at $107 million. With access to Geely’s technology and models, the two companies expect the 35-year-old Proton to regain its status as Malaysia’s leading carmaker.
Does Proton still own Lotus?
Proton was the owner of Lotus Cars from 1996 to 2017. In May 2017, DRB-HICOM announced plans to sell a 49.9% stake in Proton and a 51% stake in Lotus to Geely Automobile Holdings. The deal was signed in June 2017, and since then, Lotus ceased to be a unit of Proton.
Is DRB-Hicom a GLC company?
But more interestingly, the GLICs also own substantial shares in competitor firms. Eg: Maxis (23.5%) and DiGi (26.3%). Last year, the proposed merger between Axiata and Telenor (owner of DiGi) was called off.
How much of Volvo does Geely own?
8.2-percent
What’s The Future of The Brand? Volvo has been producing their car and truck lines separately since 1999. The Zhejiang Geely Holding Group currently owns the car lineup and has invested an 8.2-percent stake in the truck lineup, with the ultimate goal of reuniting them.
Is proton a private company?
Proton, which remains a major source of national pride, went public in 1992 and its delisting will remove the company from public scrutiny. Bursa Malaysia said that DRB-Hicom has already received 99.08% acceptance for its general offer for Proton, which priced each share in the car company at RM5.
Who is buying proton from DRB-HICOM Bhd?
PUTRAJAYA: DRB-HICOM BHD is selling a 49.9% stake in loss-making Proton Holdings Bhd to China-based Zhejiang Geely Holding Group Co., Ltd (Geely Holding). As part of the deal, Geely would also buy the entire stake in Lotus, British sports carmaker from Proton.
Why is DRB-HICOM still a loss making company?
Since March 19, DRB-Hicom’s share price has rallied 82% to RM2. However, the counter has been stuck at the RM2 to RM2.20 band since Aug 21 as if awaiting a price catalyst. Part of the reason could be DRB-Hicom’s own performance. Despite Proton’s stellar sales and the steady turnaround of Pos Malaysia, DRB-Hicom remains loss-making.
What’s the target price for DRB HICOM stock?
Hong Leong Investment Bank Research analyst Daniel Wong has a “buy” call on DRB-Hicom with a target price of RM2.52, despite the group’s net loss of RM479.4 million in the first half of financial year ending Dec 31, 2020.
When did DRB-HICOM sell its stake in Lotus?
DRB-Hicom said on Wednesday it had reached an agreement for the sale of the stake. Both parties expect to sign the definitive agreement in July 2017. It currently owns 100% of the manufacturer of the first national car. The deal will also see Geely buying a 51% stake in British carmaker Lotus and EASB taking up the 49%.