KUALA LUMPUR — Chinese automaker Zhejiang Geely Holding Group will buy a 49.9 percent stake in struggling carmaker Proton from Malaysian conglomerate DRB-Hicom.
Geely will also acquire a majority share of 51 percent in U.K. sports-car maker Lotus Cars from Proton, Geely said in a statement Wednesday.
Geely is the parent company of Hong Kong-based Geely Automobile Holdings and Sweden’s Volvo Car Group.
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