CONVINCING a foreign investor to take up a strategic stake in Proton Holdings Bhd was a major challenge in itself. It also would not have been possible without a major restructuring that satisfied the interests of all major stakeholders.
Thus, taking into account the political nature of the transaction, the restructuring of Proton that paved the way for Chinas Zhejiang Geely Holding Company Ltd to acquire a 49.99% stake has to be the best corporate restructuring of 2017.
While the deal is a merger and acquisition exercise at its core, it is the restructuring of Proton that enabled it to close, and so that becomes the focus.
DRB-Hicom was advised by boutique advisory firm QuantePhi, while Geely was advised by HSBC.
While Proton had so…
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