28 Sep '16, 11am

DRB-Hicom shortlists five potential parties for Proton stake sale; results to be announced by 1H2017

DRB-Hicom shortlists five potential parties for Proton stake sale; results to be announced by 1H2017

During a press conference following the launch of the new Proton Saga , DRB-Hicom CEO Datuk Seri Syed Faisal Albar revealed that the company has shortlisted five proposals from foreign bidders looking to own a stake in the national carmaker . However, he stated that DRB-Hicom will continue to keep a significant stake in Proton. “I think this is something that is still up in the air. If you ask me whether or not we’re going to sell 80%, 70% (of Proton), definitely not. I think its highly premature at this juncture to look at that, because we have not crossed the line yet,” he said. Among the conditions set for Proton to be awarded a RM1.5 billion soft loan was for the national carmaker to identify a strategic foreign partner. According to the DRB-Hicom CEO, the narrowed down proposals managed to meet three core requirements – strategic, cooperation and cultural. “Whether or...

Full article: http://paultan.org/2016/09/28/drb-hicom-shortlists-five-p...

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