Wednesday 24 May 2017

DRB Hicom . Pretty Girl

Is the massive UK hit for Maggie Lindemann.

In January, I told you this deal was going to happen this year.

Reuters has the story. Read below, the story of this pretty girl :

China's Geely takes 49.9 percent stake in Malaysia's national carmaker Proton

Chinese automaker Zhejiang Geely Holding Group on Wednesday said it would buy a 49.9 percent stake in Malaysia's national carmaker Proton from conglomerate DRB-HICOM (DRBM.KL), marking another major Chinese auto investment in Southeast Asia.

Geely, parent company of Hong Kong-based Geely Automobile Holdings Ltd (0175.HK) and Sweden's Volvo Car Group, would also acquire 51 percent of Proton unit Lotus, the companies said.

The investment comes on the back of deals worth billions of dollars signed recently between China and Malaysia, but Proton is an asset wrapped in national pride as an emblem of the country's post-independence industrialization and economic growth.

"Proton will always remain a national car and a source of pride, as Proton will still have a majority hold of 50.1 percent," Malaysia's Second Finance Minister Johari Abdul Ghani said at a press conference to announce the deal.

"Our very own much-loved brand now has a real chance in making a comeback, a huge one I hope."

No value for the deal was released, but a statement from DRB-HICOM said an agreement with Geely was expected to be signed in July.