Search for Proton FSP a complex process, says DRB-Hicom
Published on: Thursday, February 16, 2017
Kuala Lumpur: DRB-Hicom Bhd (DRB-Hicom) Wednesday reiterated that it would conclude and announce a decision a foreign strategic partner (FSP) for its wholly-owned carmaker, Proton Holdings Bhd (Proton), within the first half of this year. "We will however endeavour to complete as early as possible."The search is complex and thus, a time-consuming process," it said in a statement to clarify reports that suggested the search for a FSP would be finalised out Wednesday.
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Upon receipt of the bids, DRB-Hicom said it would start detailed negotiations with the bidders to ensure the key considerations of strategic, operational and culture fit are met by the potential FSP. The conglomerate explained it would start the process for internal approvals, including convening a shareholders' meeting; as well as, obtain necessary regulatory approvals and clearance that would pave the way for the selected FSP to acquire shares in Proton.Stay up-to-date by following Daily Express’s Telegram channel.
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