Jardine C&C to sell Cycle & Carriage to Indonesia's Chandra Asri for S$265 mil
Jardine Cycle & Carriage is selling its automotive dealership businesses in Singapore and Malaysia to Indonesia's Chandra Asri for S$265 million. This divestment is part of a broader strategic shift for the Jardine group.
Why it matters
The sale marks a significant consolidation in the Southeast Asian automotive retail market and a shift in corporate strategy for a major conglomerate.
BURSA SGX Home M&A Make The Edge Malaysia your preferred source on Google SINGAPORE (Aug 21): Jardine Cycle & Carriage plans to sell a group of subsidiaries that gives it half its name, ahead of a proposed name change as part of the Jardine group's ongoing moves to remake itself.
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