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PARIS/BEIJING, May 23 (Reuters) - Chinese automaker Zhejiang Geely Holding Group has agreed to buy struggling Malaysian manufacturer Proton from DRB-Hicom, sources with knowledge of the matter said.
Geely, parent company of Hong Kong-based Geely Automobile Holdings, will acquire 49 percent of Proton, two sources said. DRB-Hicom earlier asked for its shares to be suspended pending a material announcement.
Reporting by Laurence Frost and Norihiko Shirouzu