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Malaysia govt offloads Proton stake without denting national pride

Malaysia govt offloads Proton stake without denting national pride

By Wed, Jan 18, 2012 1:14PM UTC Comments Off Malaysia govt offloads Proton stake without denting national pride

After several weeks of speculation, Malaysian carmaker Proton Holdings, which has been held under the government’s investment arm Khazanah Nasional, has finally been sold to local conglomerate DRB-Hicom Holdings. At RM5.50 (US$1.77) per share, Khazanah has sealed a deal with DRB-Hicom to sell its 42.7% stake in Proton to the latter for a total of...