DRB Shareholders Approve Purchase of 42.7% of Proton
By Chong Pooi Koon -
2012-03-14T07:57:11Z
(Corrects stake of extra purchase in second paragraph.)
DRB-Hicom Bhd. (DRB)’s shareholders approved the company’s plan to buy a controlling 42.7 percent stake in Proton Holdings Bhd. (PROH) for 1.29 billion ringgit ($425 million) from Khazanah Nasional Bhd.
DRB will complete the purchase of the state-owned carmaker in seven days, according to a company statement. Proton will become a 50-percent owned subsidiary, it said. DRB bought an additional 7.3 percent stake in Proton from the open market in January.
To contact the reporter on this story: Chong Pooi Koon in Kuala Lumpur at pchong17@bloomberg.net
To contact the editor responsible for this story: Elffie Chew at echew16@bloomberg.net
Sponsored Link
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.