Lotus CEO Dany Bahar is looking for a financial partner who can buy Lotus from parent company, Proton. According to the London Sunday Times, Bahar is not looking for any partner, but one that would be willing to invest approximately £500 million to fund their future models including the new Elise, Elan, Esprit and Eterne cars.However, according to the report, the loss-making sports car maker is also being stalked by Genii Capital, which already owns the Lotus F1 team. Genii has been said to have been examining the Lotus business for some time and is ‘close to completing due diligence’.If true, both potential buyers are positioning themselves for a possible Lotus sale within the next few months.Read the full news by Brett Davis from Cardavice.com.au below.
Image from Lotustalk.
LOTUS COULD BE UP FOR SALE AFTER PROTON BUY OUT: REPORT
Lotus CEO Dany Bahar is looking for investors to buy Lotus, according to a Sunday Times report from the UK, after deals were made last week that saw the Malaysian Government sell off Proton – the owner of Lotus.
Bahar is apparently after a partner that is prepared to buy the British sports car company for around $740 million, providing it with enough funds to support future Lotus projects.
One such investor said to be taking interest is Genii Capital, the company that owns the Lotus F1 team. It’s understood Genii Capital has been eying Lotus for some time, and could announce an investment proposal in the near future.
The Malaysian government sold off its 42.7 per cent stake in Proton earlier this month for $400 million, to DRB-Hicom – one of Malaysia’s biggest auto manufacturers.
Managing director of DRB-Hicom Datuk Seri Mohd Khamil Jamil has been quoted as saying the company would need to assess its plans for Lotus before it decides whether to keep it or sell it.
Lotus is planning to release a number of new sports and supercars in the coming years, including a new Esprit, Elite and Eterne. Fortunately, the new cars are still expected to eventuate over the next few years even if a buyout deal is not struck.