Proton, owners of Lotus Cars which title sponsors the Renault outfit, has denied it is in talks to sell the niche manufacturer to Renault F1 co-owner, Gerard Lopez.
Speculation amongst the paddock suggests Lopez, through his investment company, Genii Capital, is looking to acquire a majority stake in Lotus Cars, which would be promoted by his F1 team which is expected to be renamed Team Lotus for 2012.
On Thursday however, the Malaysian company called the reports ‘untrue’ and asked for such speculations to be ‘put to rest’.
“Proton hereby states that the alleged moves between Group Lotus and Genii Capital are untrue and that the reports are highly speculative in nature,” read a statement from Proton.
“Proton’s relationship with Group Lotus is as good as it has ever been. Our priority now is to ensure that the Lotus Business Turnaround Plan is executed according to schedule and that both parties are committed to its success.
“Proton and Lotus have reached a juncture whereby the market is eagerly waiting for Lotus’ new products and all our energy and efforts have to be channelled towards achieving this critical goal.
“Furthermore, the scope of Lotus’ involvement in Formula 1 as title sponsor to Lotus Renault GP is to create dynamic marketing and branding synergies.
“Proton does not wish to further entertain any unsubstantiated news of speculative nature and we hope this statement will put all speculation to rest.
“However we wish to add, that as a proactive business entity, the Proton Group of Companies will continue to initiate and consider viable business opportunities and arrangements which will benefit and add value to the Group’s interest.”
Discussion about this post