MALAYSIA: DRB-Hicom confirms Chevrolet distribution deal – report
Malaysian conglomerate DRB-Hicom Bhd. On Monday confirmed media reports it has signed an agreement with General Motors Corp. of the US for the distribution of Chevrolet trademark products, Dow Jones reported.
Malaysian conglomerate DRB-Hicom Bhd. On Monday confirmed media reports it has signed an agreement with General Motors Corp. of the US for the distribution of Chevrolet trademark products, Dow Jones reported.
DRB-Hicom said its wholly-owned Hicomobil unit sealed the agreement with General Motors Overseas Distribution Corporation on July 18, the report added.
The deal includes a call option for the 100%-owned GM unit to acquire up to 35% of Hicomobil shares at fair market value after two years, DRB-Hicom said in a statement to the stock exchange, according to Dow Jones.
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