Proton denies Genii Capital is negotiating to buy Lotus

In the past few days, some websites have been carrying stories that Genii Capital, the company that currently owns the Renault F1 team is working on a deal to buy out a majority stake in Group Lotus.

In response to this story, Proton issued a short and sternly worded Media Statement denying the speculation.

The statement said: "PROTON hereby states that the alleged moves between Group Lotus and GENII Capital are untrue and that the news are highly speculative in nature.



"PROTON’s relationship with Group Lotus is as good as it has ever been. Through this positive synergy, 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.

Below is the full text of the Media Statement.

MEDIA STATEMENT

ON THE SPECULATION OF THE SALE (OF A STAKE)

IN GROUP LOTUS

We refer to the news reports that have been circulating recently over the sale (of a stake) in Group Lotus.

PROTON hereby states that the alleged moves between Group Lotus and GENII Capital are untrue and that the news are highly speculative in nature. PROTON’s relationship with Group Lotus is as good as it has ever been. Through this positive synergy, 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 F1 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.