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BRIEF-DRB-Hicom updates on proposed share subscription and divestment

Reuters

June 23 (Reuters) - DRB-Hicom Bhd

* Signed definive agreement for China’S Zhejiang Geely Holding group to take 49.9% equity in Malaysia’S first carmaker, Proton Holdings Berhad

* Group also sold its entire stake in Lotus Advance Technology Sdn Bhd to ZGH and Eka Automove Sdn Bhd

* Sale of 100% of indirect equity in lotus Advance Technologies Sdn. through unit, proton for a total sale consideration of about RM 550 million

* Zhejiang Geely shall subscribe for new ordinary shares in Proton to be satisfied by 170.3 million rgt in cash Source (http://bit.ly/2tB9s0Y) Further company coverage: