Deals
PSA, Geely Submit Bids for Stake in Malaysia's Proton
- Proton must seek foreign partner as part of loan conditions
- Malaysian carmaker owns British sports car maker Lotus Cars
Proton owns British sports car maker Lotus Cars Ltd.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
France’s PSA Group and China’s Zhejiang Geely Holding Group Co. have submitted bids to buy a stake in money-losing Malaysian automaker Proton Holdings Bhd., according to people with knowledge of the matter.
Negotiations are still preliminary, with bids being evaluated and clarified, said one of the people, who asked not to be identified as the talks are private. The exact size of the stake to be sold in Proton, which also owns British sports car maker Lotus Cars Ltd., will be determined after discussions, the person said.