DRB-Hicom +1.4%; Open To Options For Proton Unit Lotus

18 Jan 2012 MARKET TALK: DRB-Hicom +1.4%; Open To Options For Proton Unit Lotus


DRB-Hicom (1619.KU) is up 1.4% at MYR2.13 and Proton Holdings (5304.KU) is up 0.2% at MYR5.42.

DRB-Hicom's Group Managing Director Mohd Khamil Jamil says the company intends to keep Proton privately-held  on its buyout is successful.  

 He also says the company is not looking to sell Proton's British sports-car unit Lotus at the moment, but remains "open to options."

 Late Tuesday, DRB-Hicom had said it bought a 7.3% stake in national car maker Proton via the open market at prices ranging between RM5.40 and RM5.47 per share.

Monday, DRB-Hicom agreed to buy a 42.74% stake in Proton for MYR1.291 billion ($413.7 million),

or MYR5.50/share from state investment firm Khazanah Nasional; it also said it will make a general offer for the remaining shares at the same price.