The sale of Proton to a successful bidder will be confirmed imminently, according to PSA Group boss Carlos Tavares.
PSA Group has long been in the running to purchase the ailing Malaysian car maker alongside emerging Chinese brand Geely. However the latter announced it was pulling out of the bidding process for Proton last month, accusing executives of the brand of indecisiveness in their plans.
He said that the Malaysian authorities say a decision will be made in the second quarter of 2017, meaning an announcement by the end of June at the latest.
If the French car maker, which confirmed its purchase of Opel/Vauxhall earlier this month, bought the firm, it could also inherit Lotus, adding a sports car line-up to its portfolio.
Before Geely backed out, it had been in a bidding war with PSA for financially-embattled Proton, which is reported to have sold just 75,000 cars last year.
“They keep changing, today it’s this, tomorrow it’s that,” said Geely chairman Li Shufu. “They haven’t decided what they want.”
Proton is required to attract a foreign partner due to loan conditions from a financial rescue package settled in 2016.
Proton, which is controlled by Malaysian entrepreneur Syed Mokhtar Al-Bukhary and his company DRB-Hicom, was established in 1983 by former Malaysian prime minister Mahathir Mohamad as part of the country’s extensive industrialisation program.