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Geely to acquire Malaysian carmaker Proton -sources
May 23, 2017 / 3:22 PM / 6 months ago

Geely to acquire Malaysian carmaker Proton -sources

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

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