KUALA LUMPUR -- Malaysian car maker Proton on Tuesday signed a letter of intent to study the feasibility of buying a 50 percent stake in Italian motorcycle maker MV Agusta Motor SpA.
The stake will give Proton distribution rights and control of Agusta, the company said in a statement, which did not disclose financial details.
"We will be looking into forming a very unique alliance between Proton and Agusta," the statement quoted Proton Chief Executive Officer Tengku Mahaleel Tengku Ariff as saying.
"It is fair to say that the future of the company will not be single-handedly dominated by car manufacturing," he said.
Proton, which had a 60 percent share of Malaysia's car market last year, is looking to buy the stake from owner and founder Claudio Castiglioni, who owns 95 percent of Agusta.
The Italian firm makes 18,000 motorcycles a year.