Zhejiang Geely‘s acquisition of a 49.9% equity stake in Proton will not change the way the automaker is run, with the management of the national carmaker continuing to be led and overseen by its parent company, DRB-Hicom.
According to The Sun, international trade and industry minister Datuk Seri Mustapa Mohamed was informed that the deal will have no significant impact on the executive aspect of Proton.
“We understand that DRB-Hicom will continue to lead in the management of Proton. That’s the information I received. Of course, it’s a business decision. So whatever it is, we leave it to the company to decide what is best for them,” he told reporters.
The deal, which will see Geely and DRB-Hicom signing the definitive agreement before the end of July 2017, will also see the Chinese company acquire a 51% majority stake of Lotus Cars from Proton. The latter had also announced that it was selling off Lotus Cars in its entirety, with the remaining 49% stake to be sold to Etika Automotive.
