small_lotus_logo.jpgProton has loaned the Lotus Group £40 million, or RM272 million ringgit, to cover the Lotus Group’s third successive year of losses. This loan will be converted to equity, which actually means Proton is basically giving Lotus money in exchange for more shares. While new CEO Michael Kimberley has a 5-year plan to turn Lotus around, it is not expected to return to profitability until after 2009.

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