China’s Geely to take controlling stake in Lotus

Posted online May 24, 2017 | 11:34 am

China’s Zhejiang Geely is buying a majority stake in British carmaker Lotus.

The Geely holding company plans to buy a 49 percent stake in struggling Malaysian carmaker Proton. As part of the deal, Geely will take a 51 percent stake in Proton’s Norwich-based subsidiary, Lotus.

Financial terms of the deal were not disclosed.

Read more from Financial Times.

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