Wednesday, 14 March 2012

Flash: DRB-Hicom mulls selling Lotus if does not meet performance target

KUALA LUMPUR (March 14): DRB-HICOM BHD [] mulls selling Lotus Group International if it does not meet the performance objectives, wire reports said.

The reports said other options included a potential change in the management of Lotus, which is owned by Proton.

DRB-Hicom had on Wednesday received its shareholders’ approval to buy the 42.7% stake in PROTON HOLDINGS BHD [] for RM1.29 billion.

The purchase of Proton is expected to be completed in seven days.

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