Dany Bahar looking for a financial partner to buy Lotus
By Andrew, 31 Jan, 2012. 0 Comments
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Lotus CEO Dany Bahar wants to buy the British sports car maker from present owner Proton and is currently on the search for financial partners, according to a recent Sunday Times report. Since 1996, Lotus has been in control of Lotus. The report implies that Bahar seeks a partner that can provide funding of £500 million to signify that it’s capable of funding Lotus’s future model plans. But this report also revealed that Genii Capital, which already owns the Lotus F1 team, is interested.
Genii is believed to have been studying the Lotus business for a while and has nearly completed due diligence. This implies that these two likely buyers are preparing for a possible Lotus sale within the next few months. In December 2011, Proton had been sold to DRB-Hicom, one of the biggest corporations in Malaysia, which assembles and distributing vehicles.
It also produces cars under license for Honda. Datuk Seri Mohd Khamil Jamil, managing director of DRB-HICOM, said that before decisions are made whether to sell or retain Lotus, the company has to assess all the plans and operations of Lotus. Khamil Jamil said that he has to meet with the management of Lotus and Proton to examine whether the plans are workable “as soon as possible.” [source: Autocar]
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