Geely to take control of Lotus

摘要

Volvo's Chinese owner set to buy a majority stake in British brand Geely, the owner of Volvo, is to take control of Lotus and secure a 49.9% stake in its parent firm, Malaysian car maker Proton. The Chinese company agreed to buy the stake in the loss-making Proton from its own parent company, DRB-Hicom. As well as a controlling share of Proton, Geely will buy a 51% majority stake in Lotus. DRB-Hicom will retain 50.1% of Proton and look to sell its remaining stake in Lotus. The deal is expected to be completed in July.