DRB-Hicom Officially Confirmed As Buyer Of Proton Stake

DRB-Hicom Bhd, a government-linked company involved in the local assembly and distribution of cars for Suzuki and Volkswagen among others, has been announced as the buyer of a 42.74 percent stake in Proton from Khazanah Nasional Bhd, the investment arm of the Malaysian government. The price consideration has been set at RM 5.50 per Proton share or a total sum of RM 1.291 billion, subject to the approval of the shareholders of DRB-Hicom, which beats out competition from Proton Chairman Datuk Seri Mohd Nadzmi Salleh.

Khazanah Nasional emphasized that the major decision was made with the full confidence that DRB-Hicom is capable of alleviating Proton to “the next level of strategic growth” consistent with “the aspirations of the industrial development of the national automotive sector”. DRB-Hicom will be obligated to make a mandatory general offer for the remaining Proton shares—costing a total of RM 1.7 billion at the same RM 5.50 price—upon completion of the sale and purchase agreement. Proton will then become a subsidiary of DRB-Hicom if the mandatory general offer were to be accepted by Proton share owners.

AboutSeow Yaohan

Seow Yao Han strives to bring you the latest and the most comprehensive information on cars available in Malaysia. But it's never easy for him to talk and write cars in this part of the world because what you lust after is often not what you drive home. When the euphoria of test-driving that branded, super-expensive sports car dies down, he just goes home in his less-than-glamorous ride.

Proton Authorised Distributor

Company	Phone
Proton Edar Sdn Bhd	1300 880 888
Address	Website
Centre of Excellence Complex KM 33.8 Westbound Shah Alam Expressway, 47600 Subang Jaya, Selangor D.E	www.proton.com