Sunday, March 25, 2007
Proton clears Lotus' £40m debts
PROTON HAS wiped the slate clean for its UK subsidiary, Group Lotus.
Malaysia's national car maker has given Lotus a £40m loan to enable it to pay-off the debts it has run up with external lenders.
Proton is to convert the loan into further equity in the Norfolk-based company, effectively writing it off unless, and until, the firm can turn around its financial fortunes.
DATED: 25.03.07
FEED: AW
Malaysia's national car maker has given Lotus a £40m loan to enable it to pay-off the debts it has run up with external lenders.
Proton is to convert the loan into further equity in the Norfolk-based company, effectively writing it off unless, and until, the firm can turn around its financial fortunes.
DATED: 25.03.07
FEED: AW
