Unnamed sources told the NST’s Business Times paper today that PSA Peugeot Citroen will be sending a top team to meet with Proton’s top management as well as officials from the Ministry of Finance and Khazanah Nasional on the proposed purchase of Proton shares.
Apparently this brief was scheduled to be presented later, but the time was brought forward due to pressure from the news of Volkswagen’s renewed interest in Proton’s manufacturing arm last week.
The proposal will include a proposed stake purchase in Proton’s manufacturing arm as well as technical tie-ups between the two car manufacturers that will benefit both parties. Possible collaboration in areas such as product development, manufacturing, quality initiatives, vendor development, contract assembly and distribution will be discussed.
On a side note, updates on this blog from now until next Wednesday might be scarce and sporadic as I will be out of the country – updates will depend on the availability of internet access in the hotel.