16 Jan '12, 10am

Malaysia sells stake in national carmaker Proton

Malaysia sells stake in national carmaker Proton

KUALA LUMPUR: Malaysia's state investment arm Khazanah Nasional said on Monday it had sold its 42.7 percent stake in struggling national automaker Proton to leading car distributor and importer DRB-HICOM. The deal, worth 1.291 billion ringgit ($410 million), followed several years of speculation over the fate of Proton that had included talks with Volkswagen and General Motors on possible tie-ups. The buyer must also offer to purchase the remaining Proton shares from other stakeholders, which could push the deal to as much as 3.02 billion ringgit, said Ahmad Maghfur Usman, a Kuala Lumpur-based analyst with OSK Research. Khazanah's managing director Azman Mokhtar said in a statement announcing the deal that the new Malaysian shareholder "will be able to bring Proton to the next level of strategic growth." "DRB-HICOM's proposed strategy and business plan provides an effectiv...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

Tweets

DRB Hicom takes Proton for RM 1.291 billion

bigdogdotcom.wordpress.com 16 Jan '12, 5am

Khazanah Nasional Berhad (“Khazanah”) wishes to announce the divestment of its 42.74% stake in Proton Holdings Berhad (“PR...

Proton, a final chance

Proton, a final chance

rockybru.com.my 16 Jan '12, 3am

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DRB-Hicom announces proposal to acquire Khazana...

paultan.org 16 Jan '12, 9am

In the proposal, DRB-Hicom also stated that it will not carry out any dealing with any Proton shares within two years from...

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anilnetto.com 16 Jan '12, 2pm

Ahmad Sobri says: 16 January 2012 at 11.04pm After Khazanah’s sales of Proton to DRB, is Proton still considered a nationa...

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bigdogdotcom.wordpress.com 15 Jan '12, 2pm

It is obvious that Khazanah Holdings Bhd neither have the right attitude nor plan for industry driven corporations under i...

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paultan.org 16 Jan '12, 3am

the battle for Khazanah Nasional Bhd 42.7% stake in Proton has had its winner. Trading of the national car maker’s shares,...

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paultan.org 17 Jan '12, 6am

There are more questions of course. What are DRB-Hicom’s plans for Proton? These details are all in the proposal to Khazan...

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