Lotus parent company sold
Malaysian government offloads stake in Proton
That's a deal which values Proton at 24 times its estimated earnings for the next 12 months, against an average multiplier of 13 for Asian car manufacturers. It gives DRB two car plants with a combined capacity of 350,000, and has obvious potential benefits for a company that already assembles and distributes vehicles for Daimler and Volkswagen.
But what it means for Lotus is a rather different matter - Lotus hasn't made a profit since Proton acquired it in 1996, and DRB might simply see the British sports car manufacturer as a minus figure on the company's balance sheet. Especially since analysts have been advising Proton to offload Lotus for a little while now...
Hopefully DRB will see beyond Lotus's bald profit/loss accounts and allow Proton to keep feeding it the funds it needs for its ambitious product plans.
If the buyer already owned more than 17% then the buyer can now claim to be the owner with more than 50% control.
If someone else already owned more than 50% then that person was and remains in control, not the buyer of the 43%.
If the 57% is owned by say 57 people with 1% each then for practical purposes the 43% shareholder probably has day to day control even though they can't force anything through a vote.
More information needed....... OzOs
I have just seen Lotus are setting up a Lotus shop in regent street to sell genuine Lotus merchandise. The sound bites continue... yet car sales (in the Uk, if that's any indication) dropped 42% last year...
I have just seen Lotus are setting up a Lotus shop in regent street to sell genuine Lotus merchandise. The sound bites continue... yet car sales (in the Uk, if that's any indication) dropped 42% last year...
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