Shanghai, June 23, Gasgoo - It’s learned from official news that Geely would sign a final agreement with DRB today to purchase Proton Auto’s 49.9% shares and luxury brand Lotus’s 51% shares, becoming the exclusive foreign strategic partner of Proton Auto.
Previously, the two sides have signed a binding key term agreement, stipulating that the two sides would sign a final agreement on June 23th. The two sides would begin extensive and deepening cooperation after obtaining approval from regulatory departments to fully coordinate technological resources, make use of advantages from all parties and support for the transformation of Lotus and Proton Auto.
In the future, Geely would march into Southeast Asian market to expand the market after its purchase of Proton. Geely would also provide technological supports in investments after the purchase to reshape Proton’s brand image and increase its global sales in Malaysia, England, India and Australia.
Geely is expanding fast in overseas market recently, owning three brands including Geely Auto, LYNK&CO and Volvo. Geely will further expand its influence across the globe after its purchase in Proton and Lotus.
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