![geely-proton](/_next/image/?url=https%3A%2F%2Fs3media.freemalaysiatoday.com%2Fwp-content%2Fuploads%2F2017%2F05%2Fgeely-proton.jpg&w=3840&q=75)
Second Finance Minister Johari Abdul Ghani is expected to make an official announcement on the deal shortly.
The statement, which gave no value for the deal, said an agreement with Geely was expected to be signed in July.
Geely is the parent company of Hong Kong-based Geely Automobile Holdings Ltd and Sweden’s Volvo Car Group. Proton also owns British sports car maker Lotus Cars.
Other companies that have expressed interest in Proton include Peugeot maker PSA, Japan’s Suzuki Motor Corp and French car maker Renault SA.
DRB-Hicom asked for its shares to be suspended on Tuesday pending a material announcement.
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