Volkswagen and Proton are still in talks and it could end up with Volkswagen AG buying as much as 30% stake in Proton, or nothing at all.
Volkswagen and Khazanah Nasional officials met at the Proton Holdings Bhd HQ yesterday to discuss the matter.
Proton officials said that if there is no decision within a few days talk would be called off.
The deal is said to be involve MYR1.65 billion exchanging hands if it goes through. That translates to about RM10 per share. Proton shares were worth RM9.25 on the market on Thursday.
It’s said that the terms of the sale will involve Volkswagen AG gaining management control of the company.
Foreign CEO anyone?