Geely favourites to buy 51% stake in Proton and presumably Lotus

Geely favourites to buy 51% stake in Proton and presumably Lotus

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China’s Geely Automobile Holdings has emerged the clear leader ahead of France’s Renault and Peugeot parent PSA in the queue of suitors for Malaysia’s Proton carmaker.

That’s great for Geely – the news it is in pole position to buy a 51 per cent controlling stake in the country’s largest carmaker has sent its shares to an all-time high (they have tripled in the last 12 months) and sets up its push into Southeast Asia. If the deal goes through, Geely will get access to Proton’s assembly line in Malaysia, allowing it to ship vehicles tax-free anywhere in the Association of Southeast Asian Nations block, a combined market of 623 million people.

The Proton Saga: why would Malaysia sell its ?symbol of dignity? to China? | This Week In Asia | South China Morning Post

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Geely favourites to buy 51% stake in Proton and presumably Lotus