Proton selling Lotus, reported from Malaysia
Discussion
KUALA LUMPUR, Dec 27 (Reuters) - A Malaysian car-maker has approached the country's biggest auto firm, Proton Holdings Bhd, to buy Proton's controlling stake in British sports-car subsidiary, Lotus, the Malaysian Reserve said on Thursday.
Proton (PROT.KL: Quote, Profile, Research) bought 63.75 percent of Lotus in 1996 for 40.64 million pounds ($81 million), the daily said. Lotus make sports cars and also runs an auto engineering consultancy.
The approach followed the collapse last month of a proposed alliance between Proton, a struggling state-controlled firm, and Germany's Volkswagen (VOWG.DE: Quote, Profile, Research). Proton shares have lost a quarter of their value since the talks broke down.
"It is believed the interested party...expressed a desire for the controlling stake in the high-performance engine manufacturer after the failure of Proton-Volkswagen partnership talks late this year," the Malaysian Reserve said, quoting unnamed sources.
The financial daily did not name the bidder nor give an offer price.
Proton shares last traded at 3.70 ringgit each.
(Reporting by Mark Bendeich; Editing by Valerie Lee)
Proton (PROT.KL: Quote, Profile, Research) bought 63.75 percent of Lotus in 1996 for 40.64 million pounds ($81 million), the daily said. Lotus make sports cars and also runs an auto engineering consultancy.
The approach followed the collapse last month of a proposed alliance between Proton, a struggling state-controlled firm, and Germany's Volkswagen (VOWG.DE: Quote, Profile, Research). Proton shares have lost a quarter of their value since the talks broke down.
"It is believed the interested party...expressed a desire for the controlling stake in the high-performance engine manufacturer after the failure of Proton-Volkswagen partnership talks late this year," the Malaysian Reserve said, quoting unnamed sources.
The financial daily did not name the bidder nor give an offer price.
Proton shares last traded at 3.70 ringgit each.
(Reporting by Mark Bendeich; Editing by Valerie Lee)
Educated guess from a Malaysian resident
The Volkswagen deal was never going to fly, there is no way that Volkswagen could get control of the supply change management, parts are made by local companies, with long term, sales vendor-development agreement, and the Malaysian government would never let this change, so Volkswagen would never be able to improve quality (as in (Skoda)
There are three Malaysian car makers, Peradua, who make old Diathus (how do you spell that, never looked at one long enough to notice).
And Naza who make CKD Kia's and Volkswagen’s, my bet is that the bidder would be Naza, as this makes some sense in the local economy.
The Volkswagen deal was never going to fly, there is no way that Volkswagen could get control of the supply change management, parts are made by local companies, with long term, sales vendor-development agreement, and the Malaysian government would never let this change, so Volkswagen would never be able to improve quality (as in (Skoda)
There are three Malaysian car makers, Peradua, who make old Diathus (how do you spell that, never looked at one long enough to notice).
And Naza who make CKD Kia's and Volkswagen’s, my bet is that the bidder would be Naza, as this makes some sense in the local economy.
groomi said:
Oilchange said:
You know I have always thought Richard Branson seems to enjoy challenges. Wonder if he ever thought about the car industry...
He enjoys challenges and making money.He doesn't gamble.
Tuna said:
groomi said:
Oilchange said:
You know I have always thought Richard Branson seems to enjoy challenges. Wonder if he ever thought about the car industry...
He enjoys challenges and making money.He doesn't gamble.
toyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyotatoyota
PLEASE!
Yes, I know they're not Malaysian, but when they were involved with Lotus in the past, some of the most interesting development happened.
PLEASE!
Yes, I know they're not Malaysian, but when they were involved with Lotus in the past, some of the most interesting development happened.
Edited by marshalla on Saturday 5th January 22:49
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