Volkswagen to take stake in Proton
January 26, 2007 5:47PM by Michael Savio
Volkswagen has signed an agreement of intent to buy a substantial stake in the manufacturing division of Malaysia’s state-owned Proton Holdings. An official statement is due on February 8th, but was leaked from an inside source. Volkswagen is expected to take a 51 percent stake in Proton, giving the German automaker control over its operations.
It has been reported that VW, PSA Peugeot-Citroen, General Motors, DRB-Hicom and the Naza Group have made proposals to the government to take a stake in the ailing automaker, with Malaysia’s government reportedly preferring either VW or Peugeot-Citroen.
## Source: Forbes ##
Posted in: Volkswagen, Manufacturing, Business, Industry, Financial, Proton
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January 27th, 2007 at 6:03PM
[…] Malaysia’s state-owned Proton Holdings said that it could not confirm the report stating that Volkswagen will take a 51 percent stake in the automaker’s manufacturing division. […]