# Geely agrees to acquire 49.9% of Proton and 51% of Lotus from DRB-Hicom

Zhejiang Geely reached a binding heads of agreement with DRB-Hicom to acquire 49.9% of Proton and 51% of Lotus, subject to regulatory approval and definitive agreement by mid-July 2017.

- Type: Acquisition
- Announced: 2017-05-24
- Where: Malaysia
- Status: announced
- Products: automobiles, sports cars
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Zhejiang Geely Holding Group](https://endata.com/companies/24488.md) (acquirer)
- [DRB-Hicom](https://endata.com/companies/24489.md) (target)
- [Proton](https://endata.com/companies/24490.md) (target)
- [Lotus](https://endata.com/companies/24491.md) (target)

## Sources

- [just-auto.com](https://www.just-auto.com/news/geely-strikes-agreement-to-acquire-proton-and-lotus/), 2017-05-24: "Zhejiang Geely says it has reached a binding heads of agreement with Proton owner DRB-Hicom to acquire the Malaysia-based automotive group."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.