Peugeot Bids For Stake In Malaysia's Proton

February 22, 2017

French car maker Peugeot has submitted a bid to buy a stake in in Malaysian auto maker Proton Holdings Bhd., according to a company spokesman.

The spokesman said that he expected to hear whether the bid had been successful in the coming weeks.

Proton, which is controlled by Malaysian tycoon Syed Mokhtar Al-Bukhary's DRB-Hicom Bhd., has struggled to grow its share in an increasingly competitive domestic market where import tariffs have gradually been scaled back.

For Peugeot, formally known as Groupe PSA SA, the bid comes as it tries to negotiate the purchase of General Motors Co.'s European brands Opel and Vauxhall. (MW)


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