Luxembourg-based investment firm Genii Capital is looking to acquire a stake in UK sportscar and engineering firm Group Lotus, according to reports in the UK press quoting high-level sources within the company.
Group Lotus is owned by Malaysia car manufacturer Proton. Genii founding partner, Gerard Lopez, is chairman of the Lotus Renault grand prix team, of which Group Lotus is the title sponsor.
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Earlier this year Proton announced it had selected Genii as a strategic partner to help it expand its vehicle business internationally.
Group Lotus is currently undertaking a five-year restructuring programme designed to increase the size of the business and enhance economies of scale. Central to this will be to introduce new models, strengthen the brand and ramp up production.
Group Lotus has become a significant drain on Proton’s financial resources which the Malaysian state-owned company may find increasingly difficult to justify. The five-year turnaround programme for is expected to cost in excess of US$800m, according to reports in Malaysia.
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