Proton Holdings has sold it’s 57.57 percent stake in MV Agusta Spa to an Italian company Gevi Spa. Gevi Spa will assume MV Agusta’s debts and working capital requirements totalling 139.44 million euros, as announced today to Bursa Malaysia by Proton Holdings as part of it’s non-core asset divesting exercise.
Interesting to note that Proton originally acquired MV Agusta Spa last year on July 7 2004 for 70 million Euro, and finally sold it for a token sum of 1 Euro (RM4.48).
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AI-generated Summary ✨
Comments express mixed sentiments about Proton’s sale of MV Agusta at 1 Euro, with many criticizing the deal as a poor investment resulting in heavy losses, suggesting mismanagement and corruption. Some see it as a strategic move to cut losses, while others feel it harms Malaysia's image and national pride. While supporters highlight Proton’s positive milestones and local industry contributions, critics are disappointed by financial missteps, poor quality, and political interference, emphasizing a need for improved management and accountability.